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Companies sue states for ­ climate-protection measures
On the basis of the Energy Charter Treaty, companies are suing countries for damages when the latter decide to phase out or limit the use of fossil fuels.
Corporate lawsuits could devastate poor countries grappling with Covid-19
Wealthy corporations may use trade courts to keep public health measures from cutting into their profits.
Wind farm owner sues Romania at WB’s arbitrage court
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
Venezuela brands US-backed Citgo sale ‘an act of modern piracy’
The dispute with Crystallex follows a ruling by the International Centre for Settlement of Investment Disputes (Icsid), an international arbitration institution set up by the World Bank.
Client alert: What are the implications of the COVID-19 pandemic for States and investors under the Energy Charter Treaty
The COVID-19 pandemic has led States to adopt various public health measures that adversely affect foreign investors and exacerbate broader economic issues. In this climate, there is significant potential for disputes under the ECT.
Coal generator uses investment treaty to fight Netherlands coal phaseout
Uniper is using a controversial investor dispute system to claim up to €1 billion compensation for being forced to close a coal power station early.
Phase One US-China trade deal fails in energy and beyond
The Phase One trade deal had China committing to $30 billion in energy purchases. But US energy exports to China actually shrank by 33% in Q1.
Yukos shareholders seize Russian vodka assets in the Netherlands
Shareholders in the now defunct Russian oil giant Yukos have seized Netherlands-based assets of two well-known vodka brands controlled by the Russian state in their most recent legal move to obtain $57 billion in damages from Moscow.
Russia appeals decision of Hague Court of Appeal on Yukos
On February 18, The Hague Court of Appeal reinstated an order of the Permanent Court of Arbitration, which obliged Russia to pay more than $50 bln to the companies associated with former Yukos shareholders in 2014.
Energy dispute deepens between Mexico and foreign allies
The measures would face legal challenges under Mexico’s commitments not just under the outgoing NAFTA but also its successor, the United States-Mexico-Canada Agreement, an industry source said.
The unknown climate-killer deal we’ll have to tackle next
The Energy Charter Treaty takes an axe to climate action.
Modernisation of the Energy Charter Treaty
A global tragedy at a high cost for taxpayers.
EU plans to reform Energy Charter Treaty falling short, activists say
An updated European Commission proposal to reform the Energy Charter Treaty is falling short of what’s needed to reinstate governments’ “right to regulate” in areas like climate change, activists say.
CJEU to seal the fate of US$50 Million ECT award against Moldova?
The Paris Court of Appeal has recently sought a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty in the ongoing Republic of Moldova v. Komstroy case.
Eni and Naturgy’s Damietta gas plant deal with Egypt falls through
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank’s ICSID in 2018.
E Energija vs Republic of Latvia
E Energija received an award of EUR 3.1 million, following ICSID’s April 8 rejection of Latvia’s appeal for annulment of the tribunal’s 2018 award.
Despite controversy, the Energy Charter Treaty is silently being pushed into Africa
Joining the Energy Charter Treaty could cost developing countries money that is urgently needed to fight the COVID-19 pandemic and economic crisis.
Lotus Holding Anonim Sirketi v. Turkmenistan
The tribunal dismissed all claims against Turkmenistan brought by a Turkish investor, Lotus Holding Anonim Sirketi, under the Energy Charter Treaty and the Turkey-Turkmenistan bilateral investment treaty.
Silent expansion
Many countries, particularly in the global south, are in the process of joining the Energy Charter Treaty despite the sweeping powers it grants to foreign investors.
Receipt of LOI for litigation funding
Ascent Resources Plc, the onshore European and Caribbean / Hispanic American oil and gas company, has received a Letter of Intent for up to €3 million of potential litigation funding in Slovenia.