Work Area: Investor-state arbitration

Turkey defeats multibillion-dollar claim

An ICSID tribunal has thrown out a US$6 billion claim against Turkey over a mining and media conglomerate that was accused of financing terrorism and placed under the control of trustees following an attempted coup in the country in 2016.

09 December 2022

Ukrainian bank’s billion-dollar award against Russia reinstated

The French Court of Cassation has reinstated an investment treaty award requiring Russia to pay US$1.1 billion to a Ukrainian state-owned bank for expropriating its Crimean assets.

07 December 2022

Egyptian carmaker brings treaty claim against Algeria

An Egyptian car manufacturer has filed a US$24 million treaty claim against Algeria over “severe damage and losses” allegedly caused by government measures.

07 December 2022

Azerbaijan threatened with ECT claim after armed conflict

Armenian hydropower investors have notified Azerbaijan of a potential Energy Charter Treaty claim worth hundreds of millions of dollars, described as the first known investor-state dispute arising out of the Second Nagorno-Karabakh War of 2020.

06 December 2022

Bulgaria faces new ECT claims

ICSID has registered two new Energy Charter Treaty cases against Bulgaria in the past month: a billion-euro claim brought by children of a deceased Lithuanian oil and gas entrepreneur, and a claim by a Chinese-owned solar investor.

06 December 2022

Mining company brings ECT claim against Slovenia

A Luxembourgish coal mining investor has filed a €60 million ICSID claim against Slovenia under the Energy Charter Treaty, just weeks after the state moved to exit the treaty over environmental concerns.

06 December 2022

Canadian energy company to bring claim against Ecuador

UPDATED: A Canadian energy company says it will bring an UNCITRAL claim against Ecuador over the state’s alleged refusal to renew concessions for a pair of oil blocks.

06 December 2022

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

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