Work Area: Investor-state arbitration

Japanese solar investor pursues Spain in US court

A Japanese company has applied to a US court to enforce an ICSID award requiring Spain to pay over €23.5 million for changes to its incentives regime for solar power plants, putting the award in the public domain.

18 September 2023

Failed BIT claim leads to human rights complaint

A Spanish-Venezuelan businessman has complained to the European Court of Human Rights over the Dutch courts’ refusal to review the dismissal of a US$240 million investment treaty claim against Venezuela.

15 September 2023

Italy fails to annul renewables award at ICSID

An ICSID committee has upheld an Energy Charter Treaty award that requires Italy to pay over €16 million to German and Austrian investment funds for changes to its incentives regime for solar power.

15 September 2023

Sunken treasure saga leads to mega-claim against Colombia

A US company is pursuing a US$10 billion investment treaty claim against Colombia over treasure in the wreck of a Spanish galleon that sank off the coast of Cartagena more than three hundred years ago.

14 September 2023

Lithuanian power plant dispute settles in Stockholm

A Polish contractor has agreed to pay nearly €30 million to a Lithuanian state-controlled energy group to settle a Stockholm Chamber of Commerce arbitration over unfinished work on a biomass incineration unit.

14 September 2023

Russian group wins damages over Ecuador hydro project

Russian state-owned energy group Inter RAO has won US$45 million in an arbitration against an Ecuadorean state entity over a terminated contract to install components at a hydroelectric power project.

13 September 2023

Airport operator brings ICSID claim against Honduras

The operator of the largest airport in Honduras has made good on its threat to bring a contract-based ICSID claim against the state after a government minister said its concession would be reviewed.

13 September 2023

Glencore wins damages over Bolivian mining assets

Bolivia says it has been ordered to pay nearly US$254 million to Swiss commodities trader Glencore in an investment treaty claim over the nationalisation of tin and zinc mining assets.

11 September 2023

Private banking group takes Panama to ICSID

Venezuela-based banking group Banesco has launched an ICSID claim against Panama after several state entities executed bonds that the bank says have expired.

11 September 2023

Ukraine warned of BIT claim over bank takeover

UPDATED WITH COUNSEL: A Luxembourg company linked to Russian-Israeli billionaire Mikhail Fridman says it has notified Ukraine of a potential investment treaty claim over the “illegal expropriation” of one of the country’s biggest banks – while accusing the state of aggravating the dispute by bringing criminal charges against the businessman.

08 September 2023

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