Work Area: Investor-state arbitration

Poncet survives challenge in ICSID revision proceeding

Albania has failed to disqualify Charles Poncet from hearing its bid to revise a €110 million ICSID award based on the Swiss arbitrator being the only original member of the tribunal available to hear the request.

05 December 2022

Spain fails to annul intra-EU award in solar case

An ICSID committee has upheld an award requiring Spain to pay €42 million to a Luxembourgish subsidiary of US private equity firm First Reserve, rejecting arguments that the tribunal should have declined jurisdiction over the intra-EU dispute.

02 December 2022

Swedish investor drops ICSID claim over UAE residency permit

A Swedish-Iranian national who brought a funded ICSID claim against the United Arab Emirates over its refusal to renew his residency permit has dropped his case after the state contested the authenticity of some of his evidence.

01 December 2022

Norway hit with another snow crab claim

Norway is facing another ICSID claim by an investor in the snow-crab industry, brought under a bilateral investment treaty that the state is reportedly seeking to terminate.

01 December 2022

Korean state-owned bank beats billion-dollar claim

A Korean state-owned bank has defeated the bulk of a US$1.4 billion HKIAC claim by a group of commodities traders over its alleged failure to honour purchase obligations during the covid-19 pandemic.

30 November 2022

Vietnam faces second ICSID claim

Vietnam is facing its second ever ICSID case after a pair of Chinese construction companies filed a claim under a rarely used investment treaty.

30 November 2022

Tanzanian plane remains grounded despite ICSID stay

A Swedish investor that won a US$165 million award against Tanzania has persuaded a Dutch court to uphold the attachment of an aircraft owned by the east African state, even though ICSID has stayed enforcement pending annulment proceedings.

29 November 2022

Egypt settles "New Cairo" claim

Egypt has settled an ICSID claim brought by a Dubai-owned pipe manufacturer over its right to bid for tenders related to a sewerage network for “New Cairo” – a US$30 billion project to relieve overcrowding in one of Africa’s largest cities.

29 November 2022

Laos sees awards upheld in casino saga

Two gaming companies whose billion-dollar investment treaty claims against Laos were dismissed because of evidence of bribery and fraud have lost a final appeal against the outcome in Singapore, after a related SIAC award was also upheld.

25 November 2022

Canadian bank brings ICSID claim against Peru

A Canadian bank has brought an ICSID claim against Peru over a nearly 15-year long tax dispute, as a contractor turns to new counsel to challenge an award in a separate dispute with the Andean state.

25 November 2022

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