Work Area: Investor-state arbitration
Creditors of collapsed bank bring first treaty claim against Portugal
Subsidiaries of two US hedge funds have brought the first known investment treaty arbitration against Portugal, which relates to the collapse of one of the country’s largest banks.
17 November 2022
Croatia declares win in real estate dispute
UPDATED WITH CAST LIST: Croatia says it has defeated a €230 million claim brought by a Canadian real estate investor who sought to invoke a treaty on issues of state succession – as the state gears up for a new arbitration with Hungarian oil and gas group MOL.
17 November 2022
Korean hydro venture brings LCIA claim against Pakistan
Pakistan is reportedly seeking outside counsel to defend it in an LCIA claim by a South Korean joint venture over a hydropower project that has already led to two other arbitrations.
16 November 2022
European exodus from the ECT: politics and unintended consequences
Guillermo Garcia-Perrote and Ella Wisniewski of Herbert Smith Freehills in Australia consider the politics and unintended consequences of the recent exodus of European states from the Energy Charter Treaty and ask what it means for the transition from fossil fuel.
15 November 2022
Lesotho court voids arbitration clause in public contract
A German company that won a €50 million award against Lesotho over a stalled solar project has vowed to resume enforcement efforts despite a ruling by the kingdom’s courts declaring the underlying contract and its arbitration clause invalid.
14 November 2022
Germany latest to quit ECT
Germany’s ruling coalition has decided to withdraw the country from the Energy Charter Treaty, while saying it will ratify the EU-Canada trade agreement known as CETA.
11 November 2022
Deripaska fails to revive treaty claim against Montenegro
A Swedish court has denied a bid by sanctioned Russian oligarch Oleg Deripaska to revive a €600 million claim against Montenegro – rejecting arguments the state had succeeded to a bilateral investment treaty signed by the former Yugoslavia.
11 November 2022
Honduras sees DR-CAFTA disputes loom
UPDATED: A US investor has formally notified Honduras of its intent to bring a treaty claim potentially worth nearly US$11 billion over plans to repeal special economic zones, while the central American state has also been threatened by several energy companies.
11 November 2022
Miner hits Mexico with NAFTA claim over VAT rebates
A US precious metals producer has made good on its threat to file a NAFTA legacy claim against Mexico over its tax authorities’ refusal to grant VAT refunds on royalty payments.
11 November 2022
Norway and Latvia move to terminate BIT
As oral hearings take place in a €400 million snow-crab fishing dispute under the Latvia-Norway bilateral investment treaty, the two states have moved to terminate the BIT and its ten-year sunset clause.
10 November 2022