Results for: icsid

ICSID tribunal dismisses claims brought against Indonesia based on forged mining licences

Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ICSID Case No. ARB/12/40  After rendering separate decisions on jurisdiction—one for the case brought by British company Churchill Mining PLC under the United Kingdom–Indonesia …

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Pac Rim v. El Salvador: all claims dismissed; OceanaGold to pay US$8 million in costs

Pac Rim Cayman LLC v. Republic of El Salvador, ICSID Case No. ARB/09/12 On October 14, 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) dismissed on their merits all claims by Pac Rim Cayman LLC …

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Awards and Decisions

ICSID tribunal dismisses claims brought against Indonesia based on forged mining licences Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ICSID Case No. ARB/12/40 Inaê Siqueira de Oliveira [*] After rendering separate decisions …

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Awards and Decisions

Venezuela to pay US$1 billion for expropriating Canadian mining company’s investment Rusoro Mining Ltd. v. the Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/12/5 Claudia María Arietti López [*] In an award dated August 22, 2016, a tribunal at the Additional …

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ICSID tribunal dismisses MFN clause in WTO GATS as a means of importing Senegal’s consent to arbitration from third party BIT

Menzies Middle East and Africa S.A. and Aviation Handling Services International Ltd. v.
 Republic of Senegal, ICSID Case No. ARB/15/21 In an award rendered on August 5, 2016, an International Centre for Settlement of Investment Disputes (ICSID) tribunal declined jurisdiction to hear …

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Claimant not considered investor due to interpretation of “seat” under Cyprus–Montenegro BIT

CEAC Holdings Limited v Montenegro, ICSID Case No. ARB(AF)/14/8 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) declared by majority that the claimant did not have a “seat” in Cyprus under the Cyprus–Montenegro bilateral investment treaty …

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Turkey–Turkmenistan BIT: tribunal finds claims admissible but dismisses them on merits

İçkale İnşaat Limited Şirketi v. Turkmenistan, ICSID Case No. ARB/10/24  An arbitral tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has issued its award on the claims by a Turkish company against Turkmenistan. It found the claims …

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Awards and Decisions

Philip Morris v. Uruguay: all claims dismissed; Uruguay to receive US$7 million reimbursement Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7 Martin Dietrich Brauch [*] The long-expected final …

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Philip Morris v. Uruguay: all claims dismissed; Uruguay to receive US$7 million reimbursement

Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7 The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in early …

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ICSID tribunal upholds Panama’s abuse of process objection; Transglobal to pay arbitration costs and most of Panama’s legal expenses

Transglobal Green Energy, LLC and Transglobal Green Panama, S.A. v. Republic of Panama (ICSID Case No. ARB/13/28) In the proceeding brought by Transglobal Green Energy, LLC (a U.S.-based company) and Transglobal Green Panama S.A. (a Panama-based company) against Panama under …

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Venezuela ordered to pay US$1.202 billion plus interest to Canadian mining company Crystallex for FET breach and expropriation

Crystallex International Corporation v. Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/11/2 In a 273-page award dated April 4, 2016, a tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) ordered Venezuela to …

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UNASUR Centre for the Settlement of Investment Disputes: Comments on the Draft Constitutive Agreement

The future operation of the investment dispute settlement facility of the Union of South American Nations is likely to generate scepticism, as it could undermine international standards in favour of regional parameters and lead to increased instability in the region. Alternatively, it could enhance the legitimacy and popularity of ISDS mechanisms in UNASUR member states. What are the procedural and substantive novelties contained in the Draft Constitutive Agreement?

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The first ICSID case against Guinea is dismissed for lack of jurisdiction 

Société civile immobilière de Gaëta v. Republic of Guinea, ICSID Case No. ARB/12/36  In a decision dated December 21, 2015, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ruled that it lacked jurisdiction to hear a case …

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Slovenia is condemned to pay €20 million in damages and US$10 million in costs to Croatian national electric company

Hrvatska Elektroprivreda d.d. v. Republic of Slovenia, ICSID Case No. ARB/05/24 An award rendered on December 17, 2015 by an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) added a new—and apparently …

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The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds

Grupo Francisco Hernando Contreras, S.L. v. Republic of Equatorial Guinea, ICSID Case No. ARB(AF)/12/2 A majority tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) dismissed the case of Spanish construction company Grupo …

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ICSID tribunal orders Zimbabwe to return expropriated farms

Bernhard von Pezold and others v. Zimbabwe, ICSID Case No. ARB/10/15 In a 318-page award issued July 28, 2015 but only published February 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ordered Zimbabwe to return …

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ICSID tribunal awards damages for Venezuela’s indirect expropriation of steel industry investment 

Tenaris S.A. and Talta-Trading e Marketing Sociedade Unipessoal LDA v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/26 An arbitration tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has issued its award on the nationalization of a …

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Second ICSID claim filed against Uruguay; Philip Morris decision still pending 

On March 24, the International Centre for Settlement of Investment Disputes (ICSID) registered (Case No. ARB/16/9) a request for arbitration filed by U.S. telecom company Italba against Uruguay. The company alleges that Uruguay terminated a wireless spectrum licence in violation of the …

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ICSID tribunal dismisses final claim for compensation in relation to Hungary’s 2008 termination of power purchase agreement

Electrabel S.A. v. Republic of Hungary, ICSID Case No. ARB/07/1 A Belgian energy company—Electrabel S.A. (Electrabel)—has failed in its final claim under the Energy Charter Treaty (ECT). An International Centre for Settlement of Investment Disputes (ICSID) tribunal has found no …

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Tribunal dismisses all claims by U.S. mining investor against Oman

Adel A. Hamadi Al Tamimi v. Sultanate of Oman, ICSID Case No. ARB/11/33 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) dismissed all claims against Oman, in an award dated November 3, 2015. The claimant was …

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