Work Area: Investor-state arbitration
Mining investors file third ICSID claim against Venezuela
An Aruba mining company and its affiliates have lodged a third ICSID claim against Venezuela in a long-running dispute over the alleged expropriation of two diamond and gold concessions, after two earlier cases proved unsuccessful.
24 July 2023
Confectioners bring denial of justice claim against Mexico
US confectionery investors have brought an US$80 million NAFTA legacy claim against Mexico, alleging they were denied justice through local courts’ handling of a dispute over the site of a sweets factory.
21 July 2023
Tanzanian state agency sees off Dutch stay request
A Dutch court has refused to stay enforcement of an award ordering an Indian-Sudanese joint venture to pay a Tanzanian state agency over the construction of three roads, reasoning that a pending challenge to the award has a low chance of success.
21 July 2023
Bosnian energy company liable over coal plant disruption
Slovenia’s state electricity producer has reportedly won a €67 million UNCITRAL award against a Bosnian energy company over a power plant investment pre-dating the Bosnian war of the 1990s – as a related ICSID claim continues.
20 July 2023
Libyan state entity settles with Turkish construction joint venture
A Turkish joint venture says that a Libyan state entity has agreed to pay US$35.4 million to settle an ICC dispute over a construction project disrupted by the country’s civil war.
19 July 2023
UK joins Indo-Pacific trade agreement
The UK has become the first European signatory to the CPTPP, an Indo-Pacific trade agreement containing ISDS provisions, as a UK public body advises the state to withdraw from the Energy Charter Treaty over climate change concerns.
19 July 2023
Tanzania liable over revoked mining licence
An ICSID tribunal has ordered Tanzania to pay nearly US$110 million to an Australian nickel miner over legislation that revoked its project licence.
18 July 2023
South Korea challenges hedge fund's treaty award
UPDATED: South Korea has applied to set aside an investment treaty award that requires it to pay US$108 million to New York hedge fund Elliott Associates for intervening in an US$8 billion merger, as the award becomes publicly available.
18 July 2023
Arbitrators face criminal complaint in Peruvian toll-road dispute
The municipality of Lima has filed a criminal complaint against an UNCITRAL tribunal over an interim ruling prohibiting the termination of a toll-road concession – prompting one of the arbitrators, Peru’s Elvira Martínez Coco, to resign to defend herself.
17 July 2023
Annulment of intra-EU award upheld in Sweden
The Swedish Supreme Court has refused to hear a Luxembourg fund’s appeal against the annulment of a €56 million Energy Charter Treaty award against Spain.
17 July 2023