Work Area: Investor-state arbitration
Finnish energy company launches billion-euro claim against Russia
Finland’s majority state-owned energy company has launched an investment treaty claim against Russia, seeking several billion euros in damages over the seizure of its operations in the country.
27 February 2024
Gaming company wins damages in Macau-seated ICC case
A Macau gaming company has won over US$175 million in an ICC claim against its former partners in a slot-machine club venture in Laos.
27 February 2024
Paris court issues trio of Libya decisions
The Paris Court of Appeal has upheld its earlier ruling permitting Libya to appeal the enforcement of a €280 million award – the third judgment the court has issued in recent months involving the state or entities it owns.
27 February 2024
Maldives wins award over covid-19 ventilators
The Maldives has reportedly prevailed in an arbitration against a Dubai-based trading group over its failure to deliver ventilators during the covid-19 pandemic.
26 February 2024
UK oil company instructs counsel for claim against Ireland
A London-listed oil and gas company has instructed counsel as it prepares to file the first known investment treaty claim against Ireland, for which it is also seeking third-party funding.
26 February 2024
Slovenia denied security in fracking case
An ICSID tribunal has declined to order a UK company to post security for costs in a €656.5 million claim over Slovenia’s blanket ban on fracking for natural gas.
23 February 2024
UK latest to leave ECT
The UK has confirmed it will withdraw from the Energy Charter Treaty, citing the failure of efforts to align it with climate change goals.
22 February 2024
Spain avoids damages in ECT case
A split ICSID tribunal has rejected a Swiss investor’s €175 million damages claim against Spain after concluding that the state’s reforms to its renewable energy regime resulted in only a limited breach of the Energy Charter Treaty.
22 February 2024
India fails to block assignees from French enforcement battle
Three US entities that were assigned the rights to a US$111 million investment treaty award against India over a cancelled satellite deal have been allowed to intervene in French enforcement proceedings – as an appeal over a related award heads to the US Supreme Court.
21 February 2024
Dutch court rejects Russia’s fraud challenge to Yukos awards
A Dutch appeal court has rejected Russia’s arguments that awards worth US$60 billion in favour of the former majority shareholders of Yukos were tainted by procedural fraud, finding that the allegations were time-barred and unlikely to have changed the outcome of the arbitration.
20 February 2024