England and Wales High Court of Justice, 13 July 2018, PAO Tatneft v. Ukraine, [2018] EWHC 1797 (Comm)

In the OAO Tatneft v. Ukraine case (“investor” and “Respondent” respectively), the arbitral tribunal seated in Paris and constituted under the UNCITRAL Rules rejected all of Respondent’s jurisdictional objections in its decision on jurisdiction and ordered it to pay the investor 12 million dollars in its award. Respondent initiated annulment proceedings in France, the USA [...]

ICSID, 15 June 2018, Antin Infrastructure Services Luxembourg SARL and Antin Energia Termosolar B.V. v. The Kingdom of Spain, no. ARB/13/31, Award

On 15 June 2018, an arbitral tribunal awards investors, under the Energy Charter Treaty (“ECT”), 112 million euros as compensation for their claim relating to reforms undertaken in the renewable energy sector in Spain. First, the arbitral tribunal rejects Respondents’ intra-European Union (“EU”) objections to its jurisdiction. It considers that Claimants are qualified as “investors [...]

2018-07-02T16:04:08+00:00 June 15th, 2018|ICSID, International awards|0 Comments

ICC, 25 May 2018, Olin Holdings Ltd v. Libya, no. 20355/MCP, Final award

On 25 May 2018, an ICC arbitral tribunal with its seat in Paris issued a final award in favour of a Cypriot investor, Olin Holdings Ltd, against Libya. The dispute arose from the State’s measures directed at the factory owned by the investor. Specifically, in the 1990s, Libya adopted new legislation on foreign investments, seeking [...]

2018-07-02T16:00:27+00:00 May 25th, 2018|ICC, International awards|0 Comments

ICSID, 16 May 2018, Masdar Solar & Wind Cooperatief U.A. v. Kingdom of Spain, no. ARB/14/1, Award

On 16 May 2018, an ICSID arbitral tribunal issued a final award on jurisdiction, merits and costs in favour of a Dutch investor against Spain. The dispute arose out of the Respondent’s reforms on the renewable energy market, undertaken from 2012 to 2014. All these regulatory modifications occurred after years of the State’s encouraging of [...]

2018-06-27T21:50:20+00:00 May 16th, 2018|ICSID, International awards|0 Comments

Cour de Cassation, 28 March 2018, Energoalians TOB v. Republic of Moldova (UNCITRAL), no. 16-16568

Energoalians started arbitration procedures, governed by the UNCITRAL Rules, on the basis of the Energy Charter, against the State of Moldova. By an award dated 2003 an arbitral tribunal found that the State was liable for a breach of the fair and equitable treatment and awarded reparation to the investor. Moldova initiated the annulment proceedings [...]

2018-06-27T22:20:00+00:00 March 28th, 2018|Cour de cassation|0 Comments

ICSID, 13 November 2017, Aktau Petrol Ticaret A.S. (Turkey) v. Republic of Kazakhstan, no. ARB/15/8

Kazakhstan was found guilty of illegal expropriation and breach of fair and equitable treatment over a Turkish investment. Kazakhstan’s court bailiffs unlawfully seized Aktau Petrol’s entire shareholding in the railway line at the port of Aktau in satisfaction of its debt, despite the fact that they were separate entities. These actions were never supported by [...]

2018-01-14T22:48:09+00:00 November 13th, 2017|ICSID, International awards|0 Comments

PCA, (X) August 2017, Mytilineos Holdings S.A. (Greece) v. The Republic of Serbia

As per a press release, Serbia has been ordered to pay 40 million $ compensation to Mytilineos (a Greek company) for several investments conducted with the country’s copper miner RTB Bor. As a consequence of a trading deal signed in 1996, RTB Bor had to make several payments to Mytilineos. Nevertheless, due to financial issues [...]

2018-01-14T19:14:08+00:00 August 31st, 2017|International awards, PCA|0 Comments

ICSID, 25 July 2017, Valores Mundiales, S.L. and Consorcio Andino, S.L. (Spain) v. Bolivarian Republic of Venezuela, no. ARB/13/11

According to a Claimants’ Press Release, on 25 July 2017 the Arbitral Tribunal ordered Venezuela to pay approximately 484 million $ for violating certain provisions of the Spain-Venezuela BIT (including, inter alia, by the means of the adoption of an expropriation decree in 2010). Specifically, the Tribunal found that Venezuela had failed to guarantee fair [...]

2018-01-14T19:22:23+00:00 July 25th, 2017|ICSID, International awards|0 Comments

ICSID, 15 July 2017, Teinver S.A., Transportes de Cercanías S.A. and Autobuses Urbanos del Sur S.A. (Spain) v. the Argentine Republic, no. ARB/09/1 (dispatched to the Parties on 21 July)

The ICSID Tribunal ordered Argentina to pay more than 320 million dollars to the Claimants, members of the Spanish travel group Marsans, represented by King & Spalding, for the breach of fair and equitable treatment (“FET”) and unlawful expropriation of their investment in two Argentinian airlines. Respondent’s appointed arbitrator submitted a dissenting opinion stating that [...]

2018-01-14T19:24:34+00:00 July 15th, 2017|ICSID, International awards|0 Comments