Work Area: Investor-state arbitration
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
Barrick and Pakistan seal deal to end ICSID feud
Canada’s Barrick Gold has finalised its agreement with Pakistan to revive a stalled mining project and settle an ICSID award worth more than US$6 billion.
22 December 2022
Annacker on fragmentation and integration in investment law
Dechert partner Claudia Annacker used a keynote lecture in Prague to address fragmentation and integration in investment law. Jaroslav Kudrna and Alžběta Bělova of the Czech Ministry of Finance report.
22 December 2022
Tribunal refuses to stay treaty case after “unprecedented” injunction
An UNCITRAL tribunal has refused to stay an Indian investor’s US$156 million treaty claim against Mozambique based on an “unprecedented” anti-arbitration injunction issued by an ICC tribunal hearing a related contractual case between the parties.
19 December 2022
Ukrainian road awards upheld in France
The French Court of Cassation has upheld a pair of ICC awards requiring Ukraine’s state road agency to pay damages to an Italian construction company in a US$66 million dispute over a road repair and construction contract.
19 December 2022
Peru ordered to pay in land bonds dispute
A divided ICSID tribunal has ordered Peru to pay US$100 million to a US hedge fund in a dispute over land bonds issued half a century ago by its former left-wing military dictatorship in exchange for expropriated farmland.
14 December 2022