finance | banking | taxes
Mexican billionaire Antonio del Valle has launched actions against the Spanish government for its role in the process of putting Banco Popular into resolution and subsequent sale for €1 to Santander.
Civil society organisations are pushing for a review of the BIT between Tanzania and The Netherlands which they say does not serve the best interests of Tanzania.
India may not accept international arbitration orders annulling tax demands on British firms Vodafone Plc and Cairn Energy.
The tribunal, headed by Sir Franklin Berman, will hear the government’s objection to tax matters being covered under the Netherlands-India Bilateral Investment Treaty.
In the order, Justice Manmohan, however, noted that the Centre could approach the UK arbitration tribunal under the BIPA for its grievances.
Investors holding billions of dollars in defaulted Venezuelan bonds have formed at least one bondholder committee, which could signal an eventual legal dispute similar to the dispute with Argentina after it defaulted on its sovereign debt in early 2002.
The financial industry’s demands for a “modernized” financial services chapter of the North American Free Trade Agreement have been overlooked
Singapore has signed an agreement with China to strengthen cooperation on its ambitious Belt and Road Initiative, aiming to expand the city-state’s involvement.
The Swiss Federal Supreme Court confirmed its statutory restraint in reviewing arbitral awards and rejected the host state’s request to set aside the award for violating substantive public policy.
A week after Japanese automaker Nissan hinted at the scope of an amicable solution, the Tamil Nadu government insisted that the Madras high court hear its plea to stall the international arbitration initiated by company.
The Madras High Court was told that the Tamil Nadu government was holding “talks” with Japanese automaker Nissan, predictably for an amicable settlement.
The English High Court has set aside parts of an award concerning claims brought by Griffin against Poland; Poland has reserved the right to argue the compatibility of the BIT with EU law.
Under international arbitration proceedings the final hearing of Cairn’s claim under the UK-India Bilateral Investment Treaty is scheduled for August 2018 in The Hague.
Banks and insurers lined up to back the British government’s demand that a future trade deal with the European Union must include financial services, putting them on a collision course with Brussels.
French Economy Minister rejects financial services to be part of a free-trade deal with the European Union after Brexit.
The tribunal found that Novenergia’s investments were achieving a reasonable rate of return. However, the tribunal held that it was sufficient for the claim to succeed that Novenergia could show “quantifiable prejudice” compared with its position when it initially made its investment.
On 26 December 2017, the Commission published its decision that attacked the ECT claims brought by investors against Spain (and other EU states).
One tribunal could interpret the effect of legislative provisions differently to another. So while Eiser opens up the prospect of more claims, Blusun may narrow the basis for claims.
With the global financial crisis, solar power incentives schemes became unbearably costly and Spain repealed those incentives. Consequently, many investors brought arbitration claims under the Energy Charter Treaty.
Inconsistencies and even contradictions have emerged in dispute settlement decisions, sometimes at the expense of public good, sovereignty and financial and economic stability.