SCC, 15 February 2018, Novenergia II – Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR v. The Kingdom of Spain, no. 2015/063

Novenergia, an investment fund in Luxembourg, invested in eight photovoltaic plants in the Kingdom of Spain in 2007. It did so relying on the country’s explicit offer in its regulatory framework of a fixed long-term price for energy. However, subsequent regulations retroactively repealed this framework. Norvenergia initiated arbitration proceedings before the Stockholm Chamber of Commerce [...]

2018-03-04T22:54:49+01:00February 15th, 2018|International awards, SCC|0 Comments

SCC, December 2017, Evrobalt and Kompozit v. Moldova

The National Bank of Moldova suspended the participation of shareholders in a local bank for not having obtained due authorisation for collective purchase of the shares. The companies, including Russian Evrobalt and Kompozit, first brought separate emergency proceedings to stop the suspension. Two emergency arbitrators came to two opposite conclusions. Later the two banks filed [...]

2018-01-20T21:03:29+01:00December 31st, 2017|International awards, SCC|0 Comments

SCC, 22 December 2017, Naftogaz v. Gazprom

In 2014, Gazprom voided discounts previously granted on Gas exports in Ukraine to Naftogaz. In response, Naftogaz filed a request for arbitration before the Stockholm Chamber of Commerce (SCC) for $15 billion, concurrently, Gazprom counterclaimed for the non-payment of Gas orders previously delivered up to $50 billion. On 22 December, the Arbitral Tribunal did not [...]

2018-02-18T20:48:46+01:00December 22nd, 2017|International awards, SCC|0 Comments
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