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‘Breached settlement’ leads to new Venezuela claim

‘Breached settlement’ leads to new Venezuela claim

18 October 2019

Two US oilfield services companies that agreed to a US$420 million settlement with Venezuela to end an ICSID dispute seven years ago have filed a fresh claim over the state’s alleged failure to comply with the terms of that deal.

Belgian investor threatens Uruguay with BIT claim

Belgian investor threatens Uruguay with BIT claim

18 October 2019

The Belgian operator of a port terminal has reportedly threatened Uruguay with an investment treaty claim worth several hundred million dollars.

Roadworks award enforced against Kyrgyz ministry

Roadworks award enforced against Kyrgyz ministry

18 October 2019

A Turkish construction company has had an UNCITRAL award against a Kyrgyz ministry enforced by a court in Washington, DC, after conceding it was only worth US$25 million including interest and not US$2 billion as it initially claimed.

Fortier on the cola wars

Fortier on the cola wars

18 October 2019

At a lecture in Washington, DC, Canadian arbitrator Yves Fortier QC invoked the “cola wars” of the 1980s to argue that arbitration should resist calls to change the beloved formula that is the key to its success. Michelle Avrutin, JD student at American University Washington College of Law, reports.

Montenegro defeats Deripaska treaty claim

Montenegro defeats Deripaska treaty claim

17 October 2019

An UNCITRAL tribunal has rejected a €600 million investment treaty claim by Russia’s Oleg Deripaska against Montenegro on jurisdictional grounds, dealing another setback to the billionaire in a long-running dispute over an insolvent aluminium smelting plant.

Two new partners at Lithuanian firm

Two new partners at Lithuanian firm

17 October 2019

Lithuanian firm Motieka & Audzevicius has promoted Rimantas Daujotas and Justinas Jarusevicius, who have both acted as counsel for Russia’s Gazprom, to partner in Vilnius.

Malaysian group’s DIAC award upheld in Abu Dhabi

Malaysian group’s DIAC award upheld in Abu Dhabi

17 October 2019

An Abu Dhabi company has failed to revive a DIAC claim against the engineering arm of Malaysian conglomerate Sime Darby over its decision to withdraw bids for seven oil and gas projects in the United Arab Emirates.

Spanish Constitutional Court to consider judicial scrutiny of awards

Spanish Constitutional Court to consider judicial scrutiny of awards

16 October 2019

The Constitutional Court of Spain will have a chance to consider the permissible level of judicial scrutiny of arbitral awards – in a €600 million inheritance battle between relatives of a prominent deceased aristocrat.

Turkish court continues criminal trial despite ICSID request

Turkish court continues criminal trial despite ICSID request

16 October 2019

A court in Ankara will continue to hear terrorism charges brought against a Turkish businessman despite a recommendation from an ICSID tribunal hearing his company’s US$5 billion claim against Turkey that the case be suspended.

Australian investor withdraws ECT claim against Georgia

Australian investor withdraws ECT claim against Georgia

16 October 2019

An Australian energy company has discontinued its US$24 million Energy Charter Treaty claim against Georgia over the termination of a contract for an oil and gas block.