ICSID, 27 September 2017, Caratube International Oil Company LLP and Devincci Salah Hourani v. Republic of Kazakhstan, no. ARB/13/13

Caratube concluded a contract with Kazakhstan providing for the exploration and production of hydrocarbons, which terminated in 2008. Considering that the state had expropriated Caratube, the latter brought a request for arbitration before ICSID under the US-Kazakhstan BIT. The Arbitral Tribunal dismissed the case for lack of jurisdiction in an award dated 5 June 2012, [...]

2018-01-14T20:36:47+01:00September 27th, 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+01:00August 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+01:00July 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+01:00July 15th, 2017|ICSID, International awards|0 Comments
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