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Venezuela ordered to pay US$1.202 billion plus interest to Canadian mining company Crystallex for FET breach and expropriation
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 pay US$1.202 billion plus interest to Canadian company Crystallex International Corporation (Crystallex).
ICSID Tribunal Awards Damages for Venezuela’s Indirect Expropriation of Steel Industry Investment
The first ICSID case against Guinea is dismissed for lack of Jurisdiction
Slovenia is condemned to pay 20 million euros in damagesand US$10 million in costs to Croatian National Electric Company
The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds
ICSID tribunal orders Zimbabwe to return expropriated farms
Slovenia is condemned to pay €20 million in damages and US$10 million in costs to Croatian national electric company
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 final—chapter to a nearly 20-year-old conflict between the governments of Croatia and Slovenia over the supply of electricity generated by the Krško Nuclear Power Plant (Krško NPP), located in Slovenia.
Trans-Pacific Partnership agreement signed in Auckland; UN independent expert calls on states to safeguard regulatory space On February 4, 2016, trade ministers from twelve Pacific Rim nations met in Auckland, […]
On January 19, 2016, experts from the Union of South American Nations (UNASUR) met in Montevideo, Uruguay, to finalize agreements regarding the proposed regional centre for the settlement of investment disputes.
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 Matthew Levine [*] A […]
ICSID tribunal declines jurisdiction in case against Macedonia and orders investor to reimburse 80% of Macedonia’s legal fees and expenses
Guardian Fiduciary Trust Ltd, f/k/a Capital Conservator Savings & Loan Ltd v. Former Yugoslav Republic of Macedonia, ICSID Case No. ARB/12/31
Those that propose that the environment needs “more investment protection” are recommending a very long-term solution (of questionable efficacy) to what is essentially a short-term problem.
The inaugural session of the Open-ended Intergovernmental Working Group for the Elaboration of an International Legally Binding Instrument on Transnational Corporations and Other Business Enterprises (TNCOBEs) with respect to Human Rights (the Working Group) marks the beginning of a process to negotiate a binding treaty on business and human rights.
Resources published between July and October 2015; events between November 2015 and January 2016
The Brazilian Agreement on Cooperation and Facilitation of Investments (ACFI): A New Formula for International Investment Agreements?
Farmland Investments and Water Rights in Africa: The Legal Regimes Converging over Land and Water
Working by Design: New Ideas to Empower U.S. and European Workers in TTIP
PDF – English (1.83 MB) – Français (1.73 MB) – Español (1.79 MB) In this issue: The Merits and Limitations of General Exception Clauses in Contemporary Investment Treaty Practice Rethinking Investment-Related Dispute Settlement Experts at UNCTAD Meeting Give Shape to […]
Investor–state dispute settlement (ISDS), a concept much unknown to the broader public and even top policy-makers only a year ago, is making headlines, especially as the European Union and the […]
China’s Antitrust Crackdown Hits Qualcomm with US$975 Million Fine: What Can Other Host States Learn from the Story?
In February 2015, Qualcomm Inc. (Qualcomm), the world’s leading cellular chip maker, headquartered in California, was ordered by the Chinese anti-monopoly authority to pay a fine of RMB 6.088 billion […]
UNCITRAL tribunal finds Canada’s environmental assessment breached international minimum standard of treatment and national treatment standard William Ralph Clayton, William Richard Clayton, Douglas Clayton, Daniel Clayton and Bilcon of Delaware […]
OI European Group B.V. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/25
Although finding largely in favour of Venezuela, ICSID tribunal awards US$1.4 billion to Exxon-Mobil for 2007 expropriations Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil Venezolana de Petroleos Holdings, […]
For policymakers charged with investment portfolios, the challenge is not simply about attracting greater flows of foreign direct investment (FDI). At least as important is trying to maximize the domestic […]
UNCTAD Multi-Stakeholder Meeting Seeks Reform of Investment Treaties and Investment Dispute Settlement
More than 50 high-level representatives from governments, including ministers, as well as senior business representatives, international and civil society organizations convened in Geneva, Switzerland on October 16, 2014, to address […]
Download PDF – 682 KB Summarized in this article: Hulley Enterprises Limited (Cyprus) v. The Russian Federation (PCA Case No. AA 226) Yukos Universal Limited (Isle of Man) v. The […]
On April 4, 2014, Bolivian President Evo Morales promulgated a law establishing the general legal and institutional framework to promote domestic and foreign investment in Bolivia, while contributing to socio-economic development. This note provides an overview and analysis of the main features of Bolivia’s new law, within the context of the country’s investment law and policy, and international trends.
The system of international investment arbitration suffers from serious flaws. In South America, more than other regions, these failings are apparent from direct experience. Perhaps because so many countries in the region have faced multiple international investment arbitrations based on multi-million dollar claims for compensations, a number of alternatives to the current system of investment dispute resolution have been proposed by governments, multilateral institutions and academics.
The BRIC States and Outward Foreign Direct Investment By David Collins, Oxford University Press, 2013 This book examines the relatively recent and under-explored phenomenon of outward foreign direct investment from […]
China is often singled out as one of the big ‘land grabbers’, although it strongly refutes these claims. We set out to verify whether reports about Chinese investments were accurate or not.
In the 2012 report Profiting from Injustice, jointly published by Corporate Europe Observatory and the Transnational Institute, we boldly asserted that law firms, arbitrators and third-party funders have, over the […]
In January 2012, the Bolivarian Republic of Venezuela denounced the ICSID Convention, becoming the third country – after Bolivia and Ecuador – to do so. The exit from the global […]
UNASUR Arbitration Centre: The Present Situation and the Principal Characteristics of Ecuador’s Proposal
Five years ago, some Latin American countries started a critical movement against the International Centre for Settlement of Investment Disputes (ICSID), the World Bank institution for arbitrating disputes between foreign […]
It is an established fact that many transnational companies choose the jurisdiction of the Netherlands as a base for their global trade and investment operations, at least partly because of […]
The oil and gas industry faces increasingly strict environmental standards in developed countries. However, the majority of the world’s proven oil reserves are in developing countries and economies in transition, […]
Reforming United States trade and investment treaties for financial stability: The case of capital controls
This short essay discusses new evidence in the economics profession showing that capital controls are important macro-prudential measures that nations should have in their toolkit to prevent and mitigate financial crises. More importantly for this publication, it will be shown that United States trade and investment treaties do not reflect the emerging consensus on capital controls. There is a unique opportunity to rectify this problem as the United States finalizes its new model bilateral investment treaty (BIT) and moves forward on negotiations for a Trans-Pacific Partnership Agreement (TPP) with numerous Pacific Rim nations. Moreover, an opportunity for reform lies in the pending Congressional votes on Bush-era trade deals such as those with South Korea, Colombia, and Panama.
It is no longer a secret that there is a new wave of foreign investment in farmland, predominantly in Africa. An explosion of media reports and a series of studies by the World Bank, Food and Agricultural Organisation (FAO), International Fund for Agricultural Development (IFAD), United Nations Conference on Trade and Development (UNCTAD) and International Institute for Environment and Development (IIED), have confirmed the scale and consequences of this new influx of foreign investment. The World Bank report, by far the most comprehensive, found that reported deals amounted to 45 million hectares in 2009 alone.
By Fernando Cabrera Diaz February 14, 2010 Corporacion Quiport S.A., the company building the new Quito international airport, has initiated arbitration proceedings at ICSID against the Republic of Ecuador in […]
By Fernando Carbrera Diaz 8 June 2009 Ecuadorian president Rafael Correa announced on May 30 that his country would be denouncing the International Centre for Settlement of Investment Disputes (ICSID), […]
By Damon Vis-Dunbar and Henrique Suzy Nikiema 30 April 2009 The global network of over 2600 bilateral investment treaties (BITs) has been built on the basis of promoting foreign direct […]
Tribunal rebuffs defense of necessity in recently published award: National Grid p.l.c. v. Argentine Republic
By Elizabeth Whitsitt 2 March 2009 In a recently published award, a tribunal convened pursuant to a request for arbitration under the arbitration rules of the United Nations Commission on […]
Merits of investor-state arbitration debated at international arbitration seminar hosted by Ecuador’s Attorney General
By Fernando Cabrera Diaz 9 December 2008 On 1-2 December Investment Treaty News attended a two-day seminar on international arbitration in Quito, Ecuador, hosted by Ecuador’s Attorney General’s Office. The […]
ITN December 2008 In this issue: Investment Arbitration in Brazil: Yes or No?; Indian lawyer pursues claim against the United Kingdom under the India-UK BIT; Guatemala’s objection to jurisdiction dismissed […]
By Damon Vis-Dunbar 28 November 2008 An English court case reveals that an Indian citizen is quietly pursuing an investment-treaty claim against the United Kingdom under the India-UK bilateral investment […]
By Damon Vis-Dunbar 17 July 2008 For the longest time, bilateral investment treaties were quintessential bureaucrats’ agreements. Terse and technical, these treaties were drafted by a handful of trade officials, […]
ITN April 27, 2005 In this issue: Brazilian government’s decision on ratification of BITs looming; IISD to launch model investment agreement in London; Key US Senators want US-Russia BIT ratified […]
ITN June 21, 2004 In this issue: World Bank management responds to external review of WB role in extractives sector; OECD working paper looks at relationships between Investment Agreements; UN […]
ITN September 26, 2003 In this issue: Iraq’s New Investment Law Opens Most of Economy to Foreign Investment; Report on Canada’s NAFTA Chapter 11 consultations available; Bechtel and GE mount […]
ITN June 1, 2003 In this issue: Brazil Remains Wary of International Investment Rules; “Publish What You Pay” Campaign Receives Shot in the Arm; India-based Research Organization Releases Paper on WTO […]