Tribunal del CIADI desestima caso de expropiación contra Venezuela por razones jurisdiccionales
(English) 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
Anulación
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?
News in Brief
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 […]
Awards and decisions
Georgia loses dispute with Greek and Israeli oil investors Ioannis Kardassopoulos and Ron Fuchs v. The Republic of Georgia (ICSID Case Nos. ARB/05/18 and ARB/07/15) Martin D. Brauch Two oil traders have been awarded more than US$45 million each in damages from the Republic of Georgia in an ICSID award that advances a broad interpretation […]
Awards and Decisions
Argentina on the hook for breach of Fair and Equitable Treatment Suez, Sociedad General de Aguas de Barcelona S.A., and Vivendi Universal v. Argentine Republic (ICSID Case No. ARB/03/19) Lise Johnson On 30 July 2010, the ICSID tribunal in Suez, Sociedad General de Aguas de Barcelona S.A., and Vivendi Universal v. Argentina issued a decision […]
Ad hoc committee confirms that Kazakhstan is on the hook for US$ 125 million
By Elizabeth Whitsitt April 8, 2010 An ad hoc committee, established pursuant to the ICSID Arbitration Rules, has rejected the annulment application of the Republic of Kazakhstan. The former Soviet Republic’s bid for annulment came after an ICSID tribunal ordered Kazakhstan to pay Rumeli Telekom A.S. (Rumeli) and Telsim Mobil Telekomunikasyon Hizmetleri A.S. (Telsim) US$ […]
ICSID finds that corruption has no place in annulment proceedings
By Elizabeth Whitsitt February 14, 2010 American businessman, Jack J. Grynberg, has suffered another setback in his company’s ongoing dispute with Grenada. Commenced in 2005, the ICSID claim was one of a myriad of legal avenues pursued by Mr. Grynberg, the president and CEO of RSM Production Corporation (RSM), in an effort to gain an […]
Ad Hoc Committee refuses to lift stay of enforcement or require security regarding ICSID award against Argentina
By Elizabeth Whitsitt January 13, 2010 An ad hoc committee composed of Dr. Gavan Griffith Q.C., Judge Patrick L. Robinson, and Judge Per Tresselt has decided to continue to stay the enforcement of an award rendered against the Argentine Republic in favour of the Enron Corporation. According to the committee, the stay will remain in […]
Very High Standard of Review for ICSID Annulment Applications Confirmed
By Elizabeth Whitsitt December 6, 2009 An ad hoc committee, established pursuant to the ICSID Arbitration Rules, has rejected the annulment application of two US power companies: M.C.I. Power Group, L.C. (MCI) and New Turbine, Inc. (New Turbine). The companies’ bid for annulment came after an ICSID tribunal dismissed part of the companies’ case against […]
Continental Casualty and Argentina will continue to battle over financial investments
By Elizabeth Whitsitt December 6, 2009 On October 23, 2009 an ad hoc committee, composed of Gavan Griffith Q.C., Judge Bloa A. Ajibola and Mr. Christer Söderlund, ruled that it will hear the annulment applications of the Argentine Republic and Continental Casualty Company. According to the ad hoc committee those proceedings will take place without […]
Ad Hoc Committee confirms Argentina is on the hook to Azurix for US$165 Million
By Elizabeth Whitsitt 2 October 2009 Marking a final setback for Argentina in its protracted dispute with US-based water services firm Azurix Corp, on 1 September 2009 an ad hoc committee denied Argentina’s application to annul an ICSID tribunal’s previous decision awarding Azurix approximately US$165 Million for breach of Argentina’s obligations under the US-Argentina Bilateral […]
Malaysian Historical Salvors jurisdictional award annulled; committee split on question of economic development as criteria of ICSID investments
By Damon Vis-Dunbar 23 April 2009 The members of an ICSID committee hearing an annulment request in Malaysian Historical Salvors v. the Government of Malaysia have come to starkly different conclusions on whether a foreign investment must contribute to the economic development of the host state in order to fall within the ambit of ICSID […]
Argentina ordered to place US$75 million in escrow pending annulment decision on Sempra award
By Fernando Cabrera Diaz 16 March 2009 An ad-hoc committee formed under the rules of the International Centre for Settlement of Investment Disputes (ICSID) has ordered Argentina to put up US$75 million in escrow as a condition of a continued stay in the enforcement of an award. Under ICSID rules a party seeking the annulment […]
Continental Casualty Company moves to annul award favourable to Argentina
By Damon Vis-Dunbar 16 January 2009 The Illinois-based Continental Casualty Company has moved to annul an ICSID award that was largely in favour of the Republic of Argentina. In a 5 September 2008 ruling, Continental Casualty was awarded US$2.8 million, a small part of the US$112 million that the firm claimed from Argentina after its […]