United States District Court, District of Columbia, 22 March 2018, Balkan Energy Limited v. The Republic of Ghana, no. 17-cv-005582 (APM)

On 22 March 2018, the District Court confirmed an arbitral award in favor of Balkan Energy Limited and dismissed Ghana’s objections in seeking to oppose the award’s enforcement. The arbitral tribunal had awarded more 11.75 million dollars in damages for the breach of a Power Purchase Agreement on the grounds that the company had legitimate [...]

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

ICSID, 22 November 2017, Transban Investments v. Bolivarian Republic of Venezuela, no. ARB/12/24

Transban is a company initially incorporated under the laws of Venezuela and later re-domiciled as Barbadian. It had a stake in Centro Bavarian Venezuela, which owned exclusive rights to import BMW and Mini Cooper cars to Venezuela. Venezuela announced its denunciation of the ICSID Convention on 24 January 2012, triggering a six-month notice period. Transban’s [...]

2018-01-14T22:52:57+01:00November 22nd, 2017|ICSID, International awards|0 Comments
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