Work Area: Investor-state arbitration
Madrid utility makes good on threat against Colombia
A publicly owned Madrid water utility has launched an ICSID claim against Colombia over the freezing of its assets as part of a corruption investigation.
17 January 2023
US court overturns ICSID discovery order
A US court has vacated discovery orders won by an Italian construction group in aid of a US$2.2 billion investment treaty dispute with Panama – seemingly cementing the position that ICSID cases fall within the scope of a recent US Supreme Court prohibition against discovery for foreign arbitrations.
16 January 2023
Peru defeats claim over TV network
Peru says it has defeated a US$627 million treaty claim filed by a media company behind one of the country’s most popular television networks that became embroiled in a corruption scandal.
13 January 2023
Canada defeats NAFTA claim over “Breakfast Club” conspiracy
A NAFTA tribunal has rejected a US energy company’s claim that a secret “Breakfast Club” cabal of Canadian politicians and officials had prioritised other investors – after finding the claimant did not hold an investment at the relevant time.
05 January 2023
Iranian pursues treaty claim against Azerbaijan
An Iranian businessman’s investment treaty claim against Azerbaijan has got underway at the Permanent Court of Arbitration in The Hague.
05 January 2023
Afghanistan liable in airport services dispute
An ICC tribunal has ordered Afghanistan to pay US$26 million to a subsidiary of Menzies Aviation over the termination of a concession to provide ground services at three of the country’s airports.
04 January 2023
Panama sees mining claims loom
Canada’s First Quantum has filed one arbitration against Panama and is preparing another after it was ordered to suspend operations at one of the country’s largest mining projects.
04 January 2023
ICSID round-up: awards, a new claim and a disqualified arbitrator
Kuwait has defeated a claim brought over a billion-dollar road project at ICSID, while awards have been issued in cases involving the United Arab Emirates and Côte d’Ivoire, Bahrain faces a new claim and a former US government official has been disqualified from hearing a case against his home country.
03 January 2023
Ecuador to pay Perenco ICSID award
Ecuador has agreed to pay Bahamian oil company Perenco its US$412 million ICSID award to settle a long-running dispute over a tax on windfall revenues, while in a separate arbitration the state has been ordered to pay US$17 million to a Spanish-led consortium.
03 January 2023
Honduras hit with mega-claim over special economic zones
A US company has made good on its threat to file an ICSID claim against Honduras over plans to repeal special economic zones, seeking almost US$11 billion in damages.
22 December 2022