Awards – Page 2 – Investment Treaty News

ICSID tribunal finds Spain breached ECT obligations by failing to provide a reasonable rate of return

RREEF INFRASTRUCTURE (G.P.) LIMITED AND RREEF PAN-EUROPEAN INFRASTRUCTURE TWO LUX S.A R.L. V. KINGDOM OF SPAIN, ICSID CASE NO. ARB/13/30

ICSID tribunal upholds Panama’s plea of illegality in the making of an investment in a tourism project located in an Indigenous area

ÁLVAREZ Y MARÍN CORPORACIÓN S.A., BARTUS VAN NOORDENNE, CORNELIS WILLEM VAN NOORDENNE, ESTUDIOS TRIBUTARIOS AP S.A. AND STICHTING ADMINISTRATIEKANTOOR ANBADI V. REPUBLIC OF PANAMA, ICSID CASE NO. ARB/15/14

India found in breach of BIT with Germany by UNCITRAL tribunal in respect of agreement for lease of electromagnetic spectrum

DEUTSCHE TELEKOM AG V. THE REPUBLIC OF INDIA, PCA CASE NO. 2014-10

SCC tribunal finds Poland liable for expropriation over divestment order to Luxembourg investor

PL HOLDINGS S.À.R.L. V. REPUBLIC OF POLAND (SCC CASE NO. V2014/163)

Investors’ legitimate expectation claims against Italy dismissed due to the absence of specific commitments

BLUSUN S.A., JEAN-PIERRE LECORCIER AND MICHAEL STEIN V. ITALIAN REPUBLIC, ICSID CASE NO. ARB/14/3

ICSID tribunal constituted by virtue of an MFN clause holds Turkmenistan liable for FET breach for requiring investors to produce “smeta,” a cost estimate required by Turkmen law

GARANTI KOZA LLP V. TURKMENISTAN, ICSID CASE NO. ARB/11/20

ICSID tribunal awards ConocoPhillips USD 8.7 billion plus interest in dispute with Venezuela

CONOCOPHILLIPS PETROZUATA B.V., CONOCOPHILLIPS HAMACA B.V., CONOCOPHILLIPS GULF OF PARIA B.V. AND CONOCOPHILLIPS COMPANY V. THE BOLIVARIAN REPUBLIC OF VENEZUELA, ICSID CASE NO. ARB/07/30

Venezuela survives ICSID claims of expropriation and FET by Anglo American

ANGLO AMERICAN PLC V. BOLIVARIAN REPUBLIC OF VENEZUELA, ICSID CASE NO. ARB(AF)/14/1

Italy found liable for change in renewable energy policy in intra-EU arbitration

GREENTECH ENERGY SYSTEMS A/S & ORS. V. THE ITALIAN REPUBLIC, SCC ARBITRATION V (2015/095)

Tribunal finds expropriation of investment by Bolivia due to non-payment of compensation but awards only sunk costs to British investor

SOUTH AMERICAN SILVER LIMITED (BERMUDA) V. THE PLURINATIONAL STATE OF BOLIVIA, PCA CASE NO. 2013-15

Cyprus legitimately exercised its police powers, defeats ICSID claims by Greek bankers

MARFIN INVESTMENT GROUP HOLDINGS S.A., ALEXANDROS BAKATSELOS AND OTHERS V. REPUBLIC OF CYPRUS, ICSID CASE NO. ARB/13/27

Cyprus fends off SCC expropriation claim by Polish investors over bank bail-in measures

TOMASZ CZĘŚCIK AND ROBERT ALEKSANDROWICZ V. CYPRUS, SCC CASE NO. V 2014/169

Achmea judgment analyzed and FET claim granted in ECT case against Spain

FORESIGHT LUXEMBOURG SOLAR 1 S.À.R.L., FORESIGHT LUXEMBOURG SOLAR 2 S.À.R.L., GREENTECH ENERGY SYSTEMS A/S, GWM RENEWABLE ENERGY I S.P.A. AND GWM RENEWABLE ENERGY II S.P.A. V. THE KINGDOM OF SPAIN, SCC ARBITRATION V (2015/150)

Kenya prevails in BIT arbitration: British investors’ claims dismissed due to the absence of environmental impact assessment

Cortec Mining Kenya Limited, Cortec (Pty) Limited and Stirling Capital Limited v. Republic of Kenya, ICSID Case No. ARB/15/29

ICSID tribunal finds Hungary in breach of expropriation clause in France–Hungary BIT

UP AND C.D. HOLDING INTERNATIONALE V. HUNGARY, ICSID CASE NO. ARB/13/35

Tribunal finds Costa Rica’s measures to protect the environment did not breach FET or its expropriation obligations under CAFTA-DR

DAVID R. AVEN AND OTHERS V. REPUBLIC OF COSTA RICA, ICSID CASE NO. UNCT/15/3

Egypt found liable for the shut-down of an electricity plant during the 2011 uprising

UNIÓN FENOSA GAS, S.A. V. ARAB REPUBLIC OF EGYPT, ICSID CASE NO. ARB/14/4

ICSID tribunal accepts jurisdiction over investor’s claim under United Kingdom–Czechia BIT but rules in favour of Czechia

A11Y LTD V. CZECH REPUBLIC, ICSID CASE NO. UNCT/15/1

ICSID tribunal finds Croatia in breach of expropriation obligations under Austria–Croatia BIT

GEORG GAVRILOVIĆ AND GAVRILOVIĆ D.O.O. V. REPUBLIC OF CROATIA, ICSID CASE. NO. ARB/12/39

Spain found to have breached the Energy Charter Treaty in award by ICSID tribunal

ANTIN INFRASTRUCTURE SERVICES LUXEMBOURG S.À.R.L. AND ANTIN ENERGIA TERMOSOLAR B.V. V. THE KINGDOM OF SPAIN, ICSID CASE NO. ARB/13/31

Cypriot investor awarded EUR 18 million for expropriation and violation of national treatment and FET

OLIN HOLDINGS LIMITED V. STATE OF LIBYA, ICC CASE NO. 20355/MCP

The Czech Republic fends off another claim in relation to their renewable energy scheme

ANTARIS SOLAR GMBH AND DR. MICHAEL GÖDE V. CZECH REPUBLIC, PCA CASE NO. 2014-01

ICSID tribunal awards compensation for the seizure of power generation vessels, dismisses Pakistan’s counterclaim

KARKEY KARADENIZE ELEKTRIK URETIM A.S. V. ISLAMIC REPUBLIC OF PAKISTAN, ICSID CASE NO. ARB/13/1

PCA tribunal holds India liable for unlawful expropriation and FET breach under India–Mauritius BIPA

CC/DEVAS (MAURITIUS) LTD., DEVAS EMPLOYEES MAURITIUS PRIVATE LIMITED., AND TELCOM DEVAS MAURITIUS LIMITED V. THE REPUBLIC OF INDIA, PCA CASE NO. 2013-09

ICSID tribunal finds Spain in breach of the FET standard under the Energy Charter Treaty

MASDAR SOLAR & WIND COOPERATIEF U.A. V. THE KINGDOM OF SPAIN, ICSID CASE NO. ARB/14/1

Kosovo’s jurisdictional objections prevail against claims of German investor

ACP AXOS CAPITAL GMBH V. REPUBLIC OF KOSOVO, ICSID CASE NO. ARB/15/22

UNCITRAL tribunal declines jurisdiction as France–Mauritius BIT does not apply to dual national investor

DAWOOD RAWAT V. THE REPUBLIC OF MAURITIUS, PCA CASE 2016-20

Investor ordered by ICSID tribunal to pay Canadian government CAD 9 million following failed NAFTA claim

MERCER INTERNATIONAL INC. V. GOVERNMENT OF CANADA, ICSID CASE NO. ARB(AF)/12/3

Luxembourg fund awarded EUR 53.3 million for FET breach arising out of Spain’s curtailment of renewable energy incentive schemes

NOVENERGIA II – ENERGY & ENVIRONMENT (SCA) (GRAND DUCHY OF LUXEMBOURG), SICAR V. THE KINGDOM OF SPAIN, SCC CASE NO. 063/2015

ICSID tribunal finds Latvia breached FET under Latvia–Lithuania BIT

UAB E ENERĢIJA V. REPUBLIC OF LATVIA, ICSID CASE NO. ARB/12/33

ICSID tribunal declines jurisdiction: Timor-Leste never consented to ICSID arbitration

Lighthouse Corporation Pty Ltd and Lighthouse Corporation Ltd, IBC v. Democratic Republic of Timor-Leste, ICSID Case No. ARB/15/2

ICSID tribunal dismisses expropriation case against Venezuela on jurisdictional grounds

FÁBRICA DE VIDRIOS LOS ANDES, C.A. AND OWENS-ILLINOIS DE VENEZUELA, C.A. V. BOLIVARIAN REPUBLIC OF VENEZUELA, ICSID CASE NO. ARB/12/21

Solar energy claims brought by German investors against Czechia are dismissed

Jürgen Wirtgen, Stefan Wirtgen, Gisela Wirtgen and JSW Solar (zwei) GmbH & Co. KG v. Czech Republic, PCA Case No. 2014-03

Venezuela held liable for unlawful expropriation of fertilizer plants

Koch Minerals Sárl and Koch Nitrogen International Sárl v. The Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/19

Canadian mining company awarded sunk costs only in compensation for Peruvian expropriation

Bear Creek Mining Corporation v. Republic of Peru, ICSID Case No. ARB/14/21

Kazakhstan held liable for expropriation of Hourani family’s investment on second round of ICSID arbitration

Caratube International Oil Company LLP and Devincci Salah Hourani v. Republic of Kazakhstan, ICSID Case No. ARB/13/13

ICSID tribunal affirms jurisdiction over dispute between Chinese construction firm and Yemen

Beijing Urban Construction Group Co. Ltd. v. Republic of Yemen, ICSID Case No. ARB/14/30

Claims brought by a company controlled by an Egyptian billionaire against Algeria are held inadmissible

Orascom TMT Investments S.à r.l. v. People’s Democratic Republic of Algeria, ICSID Case No. ARB/12/35

UNCITRAL tribunal dismisses allegations of Hungarian investor’s bribery and refuses to set aside contract with Croatia

The Republic of Croatia v. MOL Hungarian Oil and Gas Plc, PCA Case No 2014-15

All claims by Isolux Infrastructure Netherlands against Spain are dismissed

Isolux Infrastructure Netherlands B.V. v. the Kingdom of Spain, SCC Case No. V2013/153

Argentina ordered to pay over USD320 million for unlawful expropriation in airlines case

Teinver S.A., Transportes de Cercanías S.A. and Autobuses Urbanos del Sur S.A. v. The Argentine Republic, ICSID Case No. ARB/09/1

An ICSID tribunal dismisses its jurisdiction as investor abused its rights by “reviving” a company to access arbitration against Cameroon

Capital Financial Holdings Luxembourg SA v. Republic of Cameroon, ICSID Case No. ARB/15/18