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