Dispute settlements between investors and states saw 62 new cases initiated last year, the highest number of known treaty-based disputes filed in a year, according to a report by the United Nations Conference on Trade and Development (Unctad) in March.
Dispute settlements between investors and states saw 62 new cases initiated last year, the highest number of known treaty-based disputes filed in a year, according to a report by the United Nations Conference on Trade and Development (Unctad)
Uruguay faces its first hearings in the French capital this week in a lawsuit filed by US tobacco giant Philip Morris International against its anti-smoking laws, an official said on Monday.
Earlier last month, a three-member bench of the Supreme Court headed by Chief Justice Iftikhar Chaudhry declared null and void the Reko Diq gold and copper mine agreement, the Chagai Hills Exploration Joint Venture Agreement (CHEJVA), with Tethyan Copper Company (TCC).
The Supreme Court recently declared void and illegal a mining deal for the Reko Diq copper project signed 20 years ago between the Balochistan government and international mining companies.
Hace unos dias, el CIADI dió a conocer el fallo emitido el pasado 12 de diciembre del 2012 en relación a la demanda interpuesta por la empresa minera canadiense Vanessa Ventures contra Venezuela en el año 2004. En su decisión, los tres árbitros del tribunal arbitral del CIADI desestiman la demanda por 1.045 millones de US$ presentada por la empresa canadiense contra Venezuela.
It is wonderful that the stance of the government of Balochistan has been upheld by the Supreme Court (SC) of Pakistan. Decision given on 7th January, 2013 by the SC has declared the agreement on Reko Diq signed on July 23, 1993 as void and in conflict with the laws of the country. Tethyan Copper Company Pvt Limited (TCC) also lost its case in the International Centre for Settlement of Investment Disputes (ICSID) on December 13, 2012.
Spanish power grid operator Red Electrica said on Tuesday it had begun to seek World Bank arbitration over Bolivia’s expropriation of its transmission business TDE.
Recent disputes, including the GMR-Maldives government row and the clash between foreign telecom firms Telenor, Sistema, Etisalat and Vodafone and the Indian government, have exposed India’s vulnerable position in investment agreements. While the foreign telecom companies can use a potent weapon - the ’investment protection’ clause in bilateral treaties - against India, GMR cannot do the same with Maldives.
The World Bank’s International Center for the Settlement of Investment Disputes has handed down a ruling against the Ecuadorian government, finding that it “unlawfully expropriated” U.S. firm Burlington Resources’ investments in two oil blocks.
Argentina faces 42 claims at the World Bank’s ICSID in which the plaintiffs are demanding compensations for almost 65 billion dollars, revealed Eduardo Barcesat legal advisor to the Argentine Treasury and one of several lawyers who has defended the country in those litigations.
L’Equateur a annoncé officiellement le 8 octobre 2012 qu´il exigera l’annulation de la dernière décision du Centre International pour le Règlement des Différends Relatifs aux Investissements (CIRDI) communiquée le 5 octobre 2012
On 5 June 2012 the arbitral tribunal of the International Centre for Settlement of Investment Disputes (ICSID) adopted the decision on the case initiated by Caratube International Oil Company LLP (CIOC) against the Republic of Kazakhstan.
In a May 31 press release, the US private equity fund Lone Star said it was planning to request investor state dispute (ISD) arbitration for losses suffered due to "unlawful" interference by the South Korean government.
Churchill Mining (LON:CHL) said it has now filed for international arbitration in its dispute regarding the East Kutai coal project (EKCP) in Indonesia, 75 per cent owned by Churchill.
As long as States, like Argentina and many others, accumulate a large amount of cases against them or obtain sistematically wrong results before ICSID arbitrators — which is the rule, with a very few exceptions — it is possible that the list of ICSID withdrawals will increase in the Americas.
President Cristina Fernández de Kirchner questioned US president Barack Obama’s recent decision to suspend trade benefits for Argentina, while complaining that “we can’t even manage to get one of our lemons to enter the US market.”
U.S. President Barack Obama said on Monday he was suspending trade benefits for Argentina because of the South American country’s failure to pay more than $300 million in compensation awards in two disputes involving American investors.
International Centre for Settlement of Investment Disputes is an autonomous international organisation, linked to the World Bank. It is the most ’referred to’ arbitration facility for disputes under bilateral trade and investment agreements, with its own set of rules and procedures.