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Eurohold and EIG launch EUR 500 mln arbitration proceedings against Romania
Eurohold Bulgaria AD and Euroins Insurance Group AD said they have officially filed a request for arbitration against the government of Romania at the International Centre for Settlement of Investment Disputes in Washington, DC.
Government wins landmark international arbitration case against Laiki, Bank of Cyprus depositors
The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) tribunal unanimously rejected a USD 600 million claim by depositors and bondholders of Laiki Bank and the Bank of Cyprus.
S. Korea ordered to pay Mason Capital 43.8 bln won in investor-state suit
An international tribunal ordered South Korea to pay 43.8 billion won (US$32 million) in compensation to US-based hedge fund Mason Capital in an investor-state suit the company filed over a controversial 2015 merger of two Samsung affiliates
Nigeria, UK to sign enhanced trade investment partnership agreement on Tuesday
Governments of Nigeria and the United Kingdom will, on Tuesday, sign the Enhanced Trade Investment Partnership (ETIP) Agreement to not just boost its trade volume but also reduce market access and regulatory barriers discouraging people from investing in either of both nations.
Nexo initiates international arbitration case against Bulgaria
Cryptocurrency-based financial services company Nexo has filed a case against Bulgaria in an international arbitration court in the USA.
Hong Kong investors plan AT1 action against Switzerland
Investors in Hong Kong are preparing to file a request for arbitration against the Swiss government for writing off the AT1 bonds issued by Credit Suisse, claiming the move was at odds with a bilateral investment treaty between the jurisdictions.
How wealthy corporations use investment agreements to extract millions from developing countries
When Ecuador placed a windfall tax on foreign oil operations, French and U.S. companies filed claims—and were awarded more than $800 million.
Al Habtoor group issues a notice of an investment dispute against Lebanon
Emirati conglomerate Al Habtoor Group served a notice of an Investment Treaty Dispute against the Lebanese Republic in connection with Lebanon’s breaches of the Bilateral Investment Treaty between the United Arab Emirates and Lebanon.
USD 12 billion dispute decided in Tunisia’s favour
A wrangle over a shareholding in a Tunisian bank which dates back to the 1980s has finally been resolved in arbitration.
ABH Holdings S.A. brings $1 billion claim against Ukraine
ABHH seeks full compensation for the expropriation of Sense Bank by the Ukrainian authorities through enforced nationalisation.
When investors subvert states
The ongoing lawsuit brought against Honduras by an American company underscores the unjust and undemocratic nature of the investor-state dispute settlement system.
The global minimum tax spurs need for faster investment agreement reforms
A UNCTAD report highlights the interplay between efforts to tackle tax avoidance and protect investment, calling for accelerated reforms to align investment agreements with new global tax rules.
US commerce secretary says closed three ’pillars’ of Indo-Pacific talks
IPEF member countries have agreed on terms of the clean energy pillar and on the anti-corruption chapter.
S. Korea files for cancellation of int’l tribunal’s compensation order in Lone Star case
The South Korean government filed an appeal seeking to cancel an international tribunal’s order to pay compensation to American private equity firm Lone Star Funds with the firm’s sell-off of the now-defunct Korea Exchange Bank.
International body rules in favour of Nepal government in Ncell taxation case
The Axiata Group had filed a case at the International Centre for Settlement of Investment Disputes in May 2019, claiming damages worth around Rs66 billion.
Memorandum and analysis on the agriculture chapter of the STIP negotiations
Econews Africa, in a memorandum to the Kenya/United States Strategic Trade and Investment Partnership (STIP) has highlighted lack of transparency in the negotiation process and the devastating consequences of negotiating a chapter on Agriculture have been highlighted.
Credit Suisse’s Japan bondholders seek arbitration over AT1 wipeout
Japanese investors will soon file a request for arbitration regarding Credit Suisse’s Additional Tier 1 bonds, under the economic partnership agreement between Japan and Switzerland.
Int’l tribunal reduces damages S. Korea owes to Lone Star by 600 mln won: ministry
An international tribunal has accepted the South Korean government’s request and reduced the damages it has to pay to the U.S. private equity firm Lone Star Funds by about US$450 million, the justice ministry said
Mexican firm seeks $380 million from Honduras over blocked unit
Mexican investment firm JLL Capital, whose Honduran operation has been blocked since 2018 in a local dispute, is seeking some $380 million from the Central American country in arbitration proceedings.
Eurasian Economic Union discusses launch of digital currencies in EAEU financial markets
The EAEU has trade agreements with China, Iran, Serbia, and Vietnam. Numerous other countries, including India and Indonesia, are currently discussing EAEU FTA, meaning an EAEU digital currency agreement will impact on trade with each of these countries.