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Ecuador seeks to block Chevron
The government of Ecuador asked a US court on Friday to intervene in its long-running environmental battle with oil giant Chevron Corp.
German investor launches ICSID case against Costa Rica over alleged expropriation of land near endangered turtle habitat
German investor Reinhard Unglaube, a resident of Costa Rica, has commenced arbitration against his host country over the latter’s refusal to grant the appropriate permits to extend his eco-tourist hotel complex in Playa Grande, Costa Rica.
Pakistan, Germany sign new bilateral investment treaty
Under the bilateral treaty, the German government would provide insurance guarantees to investments by its companies in Pakistan and cover their political and security risks.
Pakistan to co-host world’s first international conference on Investment Treaties
Pakistan will co-host with Germany world’s first-ever International Conference on Investment Treaties in Frankfurt from December 1-3, aimed at examining the policy issues that will shape international investment laws in the years to come.
Pak, Germany to sign improved ‘investment treaty’ next month
Pakistan and Germany will sign the enhanced version of “bilateral investment treaty” during the visit of Prime Minister Yousaf Raza Gilani to Germany early next month.
Quiborax claim against Bolivia continues; may provide first decision on effects of ICSID exit
Chilean Química e Industrial del Bórax Ltd. (“Quiborax”) will continue with its claim against Bolivia at the International Centre for Settlement of Investment Dispute (“ICSID”), despite reports of a settlement agreement and Bolivia’s renunciation of the ICSID convention. The case will likely shed the first light as to the effects of renouncing the ICSID Convention, a controversial topic over which no tribunal has yet to rule.
Clash on investment
During the past several months, I spent nearly 30 hours in meetings of a private sector committee tasked with advising the Obama administration on a particular set of international economic policies.
Ecuador prepares for new hearings in Occidental case
Occidental is seeking $3.2 billion in damages for Ecuador’s May 2006 decision to cancel the company’s operating contract
S.Africa farmers want land in Zimbabwe investment pact
While Agri SA has been leading a push for South African farmers to invest and farm in a number of other countries across Africa, including the Republic of Congo, Libya and Zambia, the union has urged its members to stay away from countries where South Africa has no investment protection agreements.
Ad Hoc Committee confirms Argentina is on the hook to Azurix for US$165 Million
Marking a final setback for Argentina in its protracted dispute with US-based water services firm Azurix Corp, on 1 September 2009 an ad hoc committee denied Argentina’s application to annul an ICSID tribunal’s previous decision awarding Azurix approximately US$165 Million for breach of Argentina’s obligations under the US-Argentina Bilateral Investment Treaty.
Eureko secures exit from Polish PZU row
An agreement has been signed between the Polish Ministry for State Treasury and Eureko to pay the insurer an interim dividend in November 2009 worth €1.85bn.
Zim-SA bilateral agreement doomed
The Bilateral Investment Promotion and Protection Agreement (BIPPA) between Zimbabwe and South Africa, initially scheduled for signing in April and later deferred to June, is headed for total collapse as the two parties have failed to agree on the wording of Article 11 of the agreement.
Ecuador criticizes Chevron arbitration claim
Ecuador accused Chevron Corp on Thursday of filing an international arbitration claim against the country in an attempt to shield itself against losing a $27 billion environmental damage lawsuit.
Chevron takes Ecuador fight to arbitrators
Chevron, the world’s third biggest oil company, said it had filed an international arbitration claim against the government of Ecuador, citing violations of the country’s obligations under the US-Ecuador bilateral investment treaty, investment agreements and international law.
ICSID rejects Turkish Co $756m claim against Pak
An arbitral tribunal appointed by the International Centre for Settlement of Investment Disputes (lCSID) of the World Bank hearing a claim brought by a Turkish investor against the Islamic Republic of Pakistan has rejected all claims for breach of a bilateral investment treaty between the two countries.
Corn Products awarded damages in NAFTA dispute
US-based Corn Products International has been awarded damages of over $58m in a dispute with Mexico over violations of the North America Free Trade Agreement.
Protecting Chinese investments in Latin America
As with Western BITs, bilateral investment treaties between China and numerous Latin American countries potentially protect Chinese investors by authorizing them to bring legal claims related to their investments against the host country government directly and to settle those disputes in international arbitration, rather than in the domestic courts
Uganda raises concerns on asset protection plan
Uganda on Thursday adopted a cautious stand as negotiations on a regional common market entered a sensitive phase in which experts sought to find the most appropriate deals on protection of foreign investments
South African trade department critical of approach taken to BIT-making
A position paper published by the Government of South Africa takes a critical posture towards the country’s bilateral investment treaties (BITs).