On November 6, 2019, the Energy Charter Conference confirmed that it would hold the first session of its “Modernization Group” on December 12, 2019, kicking off the process to revise the decades-old ECT.
Leaders from 15 of the countries negotiating the Regional Comprehensive Economic Partnership (RCEP) announced on November 4, 2019, that they had clinched a deal that would govern trade and investment across a wide swath of the Asia–Pacific region.
As claimants lacked a protected investment and could not import consent to arbitration via MFN, UNCITRAL tribunal dismisses case against Mauritius on jurisdictional grounds
Professor Christian Doutremepuich and Antoine Doutremepuich v. Republic of Mauritius, PCA Case No. 2018-37
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
TOMASZ CZĘŚCIK AND ROBERT ALEKSANDROWICZ V. CYPRUS, SCC CASE NO. V 2014/169
Emilio Agustín Maffezini v. Kingdom of Spain, ICSID Case No. ARB/97/7 (Decision on Jurisdiction) (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, 2018. Read more here.) Decision available at https://www.italaw.com/cases/641 Keywords Dispute resolution provisions, exhaustion of remedies, most favoured nation treatment Key dates Request for […]
Parkerings–Compagniet AS v. Republic of Lithuania, ICSID Case No. ARB/05/8 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, 2018. Read more here.) Award available at https://www.italaw.com/cases/812 Keywords Broad dispute resolution provision, cultural measures, due diligence, environmental measures, exhaustion of remedies, expropriation, fair and equitable treatment, good […]
Siemens A.G. v. Republic of Argentina, ICSID Case No. ARB/02/8 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, 2018. Read more here.) Decision, award and other documents available at https://www.italaw.com/cases/1026 Keywords Corruption, damages, expropriation, interpretation, investor obligations, margin of appreciation, most favoured nation, proportionality, […]
Urbaser S.A. and Consorcio de Aguas Bilbao Bizkaia, Bilbao Biskaia Ur Partzuergoa v. The Argentine Republic, ICSID Case No. ARB/07/26 (Published in 2018 in International Investment Law and Sustainable Development: Key cases from the 2010s and on this website on October 18, 2018. Read more here.) Decisions and award are available at http://www.italaw.com/cases/1144 Keywords Human rights, […]
Tecnicas Medioambientales Tecmed S.A. v. United Mexican States, ICSID Case No. ARB(AF)/00/2 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, 2018. Read more here.) Award available at https://www.italaw.com/cases/1087 Keywords Environmental measures, expropriation, fair and equitable treatment, interpretation, legitimate expectations, proportionality, “sole effects” test Key dates […]
Metal-Tech Ltd. v. The Republic of Uzbekistan, ICSID Case No ARB/10/3 (Published in 2018 in International Investment Law and Sustainable Development: Key cases from the 2010s and on this website on October 18, 2018. Read more here.) The award is available at https://www.italaw.com/sites/default/files/case-documents/italaw3012.pdf Keywords Corruption, burden of proof, standard of proof, transparency Key Dates Request for […]
NAFTA 2.0 finalized, announced as USMCA: Mexico, United States agree to limit ISDS clause; Canada to pull out of ISDS after a three-year window
On September 30, 2018, U.S. Trade Representative (USTR) Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland announced that the two countries had reached an agreement, alongside Mexico, on a modernized trade deal.
After an RCEP negotiation round held in Singapore in late August 2018, most negotiating partners are reported to have agreed to reduce the scope of application of the ISDS clause.
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
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
UAB E ENERĢIJA V. REPUBLIC OF LATVIA, ICSID CASE NO. ARB/12/33
UNCTAD’s 2017 High-level IIA Conference: Moving Forward on Addressing Older-Generation International Investment Agreements
Over 300 experts gathered in Geneva to take stock of the sustainable development-oriented reform of the investment treaty regime and discuss policy options for modernizing the existing stock of older-generation treaties. Participants recognized that multilateral collaboration would be key to addressing the complex IIA regime.
Two African developing countries respond to criticisms against the investment regime. The innovative treaty offers protection to foreign investors without compromising on the host state’s capacity to regulate in the public interest.
China has sustained robust inbound and outbound flows of foreign direct investment and expanded its web of investment treaties. This note sheds light on the country’s appearance in investment treaty cases in the past decade, either as home or host state.
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
WNC v. Czechia: tribunal dismisses expropriation claim and determines that it has no jurisdiction over all other claims
WNC Factoring Limited v. The Czech Republic, PCA Case No. 2014-34
The Base Erosion and Profit Shifting (BEPS) reform project led by the OECD tackles corporate measures aimed at shifting profits to no- or low-tax destinations. But investment law can hinder the implementation of much-needed reform in international taxation.
Argentina has come back to the BIT negotiation arena after a 15-year halt, concluding a treaty with Qatar and engaging in ongoing negotiations with Japan. The new treaty includes traditional along with innovative provisions.
Ansung Housing Co., Ltd. v. People’s Republic of China, ICSID Case No. ARB/14/25
Part of IISD’s Best Practices Series, this study conducts a typology of investment treaties and then an analysis of the differing interpretations by the tribunals of several key issues
The Government of India has proposed a Joint Interpretative Statement to its bilateral investment treaty (BIT) partners. The statement clarifies key substantive and procedural provisions, bringing them more in line with India’s new foreign investment policy.
Special and Differential Treatment (S&D), originally forged in the trade regime, has evolved in trade negotiations and gained momentum in investment agreements, to provide greater flexibility for developing countries based on their needs and capabilities.
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- Suzy H. Nikièma
The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in early 2010 against Uruguay over its tobacco control measures.
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.
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 Inc. v. Government of Canada, UNCITRAL
Majority declines jurisdiction in claim against Argentina over domestic litigation requirement Daimler Financial Services AG v. Argentine Republic, ICSID Case No. ARB/05/1 Damon Vis-Dunbar A claim against Argentina by a subsidiary of the German automotive firm Daimler A.G. has failed on its merits because the claimant did not first bring the dispute to court in […]
South Africa begins withdrawing from EU-member BITs South Africa has terminated its bilateral investment treaty with Belgium and Luxembourg, and intends to phase out other treaties with European countries. In a September 7th letter to Belgium’s Ambassador in Pretoria, South Africa’s Minister of International Relations denunciated the treaty, in accordance with the treaty’s termination clauses […]
The South African Development Community (SADC) Model Bilateral Investment Treaty Template and Commentary was completed in June 2012 by Member States of the Community. Its completion marks the end of an 18 month process of consultations and drafting among government representatives and is intended as a guide for member states in future investment treaty negotiations.
Dealing With the Increasing Complexity of Investment-Related Treaties: A Framework and Some Policy Guidelines
Bilateral investment treaties used to be boilerplate: taken out of a drawer before official visits; signed with pomp and circumstance but not much attention to precise wording. Today, the diversity and ramifications of investment-related treaties are staggering.
US court vacates award against Argentina BG Group Plc v. Argentina Lise Johnson A US appellate court has vacated an award against Argentina in a decision that may give investors pause before attempting to bypass treaty provisions requiring that they first pursue their claims in the host state’s courts. The long course of the dispute […]
In November 2011, an arbitral tribunal found the Republic of India guilty of violating the India-Australia bilateral investment treaty (BIT). It is the first known investment-treaty ruling against India, despite the fact that the country has a mammoth portfolio of BITs with more than 70 countries. News of the award broke only in February 2012.[i] […]
Arbitrator sharply critical of majority decision in Italian bondholder claim against Argentina Abaclat and Others (Case formerly known as Giovanna a Beccara and Others) v. Argentine Republic, ICSID Case No. ARB/07/5 Damon Vis-Dunbar Professor Georges Abi-Saab has delivered a sharply worded dissent against a decision that granted jurisdiction to an ICSID case involving tens of […]
Mass claim in Argentine bond dispute is granted ICSID jurisdiction Abaclat and Others (Case formerly known as Giovanna A Beccara and Others) and The Argentine Republic, Decision on Jurisdiction and Admissibility, ICSID Case No. Arb/07/5 Damon Vis-Dunbar An ICSID tribunal has accepted jurisdiction to hear a claim by tens of thousands of Italians who claim […]
Philip Morris v. Uruguay: Will investor-State arbitration send restrictions on tobacco marketing up in smoke?
For nearly two decades, the tobacco industry has used international investment rules to challenge governmentrestrictions on cigarette marketing. In 1994, R.J. Reynolds Tobacco Company threatened to bring a claim under the North American Free Trade Agreement’s (NAFTA) investment chapter as part of its successful lobbying campaign against Canada’s proposed “plain packaging” legislation, which would have […]
UK firm victorious in dispute with Russia, but damages much less than claimed RosInvestCo UK Ltd. v. The Russian Federation, SCC Case No. Arb. V079/2005 Lise Johnson In an award dated 12 September 2010, the tribunal in RosInvestCo v. Russian Federation issued an award in which it found that the Russian Federation had unlawfully expropriated […]
By Damon Vis-Dunbar 2 October 2009 Correction: The original headline in this article stated that Chevron Corporation alleges a denial of justice on the part of Ecuador. Chevron explains that this is incorrect. While Chevron claims that Ecuador “abuses the criminal justice system”, its notice of arbitration does not assert a denial of justice. The world’s second […]
By Damon Vis-Dunbar 2 October 2009 A claim by a Turkish investor against Pakistan has been dismissed on its merits after the Tribunal concluded that Pakistani government officials did not conspire in bad faith to expel the investor. The Claimant, Bayindir Insaat Turizm Ticaret Ve Sanayi A.S. was contracted to build a six-lane motorway between […]
By Fernando Cabrera Diaz 2 October 2009 Chemtura Corporation’s dispute with Canada over the phase-out of the agro-chemical Lindane headed to oral hearings in September after 8 years of legal wrangling. Chemtura, a U.S.-based chemical manufacturer, claims that Canada violated Chapter 11 of the North American Free Trade Agreement (NAFTA) when it banned Lindane in […]
German firm fails to pass jurisdictional hurdle in claim against Argentina; decision provokes questions about the scope and applicability of MFN Protection
By Elizabeth Whitsitt 5 January 2009 An ICSID tribunal has declined jurisdiction in a claim brought by a German firm against the government of Argentina, in a decision that marks the unpredictability over whether a claimant can invoke a Most-Favoured-Nation (MFN) clause to access an expedited arbitration process. The claimant, Wintershall Aktiengesellschaft, alleged that the […]
Alejandro Faya-Rodríguez fue Director General Adjunto de Asuntos Internacionales de la Dirección General de Inversión Extranjera del Ministerio de Economía de México hasta marzo pasado. En dicho cargo negoció diez tratados bilaterales de inversión y un capítulo de inversión en el marco de un acuerdo de libre comercio. Recientemente, pasó a ocupar un cargo como […]
17 July 2008Alejandro Faya-Rodriguez was the Deputy Director-General for International Affairs of the Directorate-General of Foreign Investment at the Mexican Ministry of Economy until last March, where he negotiated ten bilateral investment treaties and one investment chapter within a free trade agreement. He recently moved to a new post as a senior legal advisor to […]