ITN

ITN  |  mars 13, 2017

Nouvelles en Bref

Le règlement d’arbitrage du SIAC entre en vigueur ; le nouveau règlement de la CCS inclut un appendice sur les différends au titre de traités d’investissement Le Règlement d’arbitrage des investissements du Singapore Investment Arbitration Centre (SIAC) est entré en vigueur le 1erjanvier 2017. L’on y retrouve, entre autres éléments intéressants, des dispositions relatives au rejet […]

ITN  |  mars 13, 2017

Sentences et Décisions

Un tribunal du CIRDI rejette les recours présentés contre l’Indonésie fondés sur des licences minières falsifiées Churchill Mining PLC et Planet Mining Pty Ltd c. la République d’Indonésie, affaire CIRDI n° ARB/12/14 et affaire CIRDI n° ARB/12/40 Inaê Siqueira de Oliveira[*] Après avoir rendu deux décisions distinctes sur la compétence, l’une dans l’affaire présentée par […]

ITN  |  mars 13, 2017

Resources and Events

Ressources Le « Treaty Shopping » dans le droit international des investissements Par Jorun Baumgartner, publié par Oxford University Press, février 2017 Cet ouvrage examine la pratique du « treaty shopping » – c’est-à-dire le changement stratégique de nationalité ou l’invocation stratégique d’une autre nationalité dans le but d’accéder à un autre traité d’investissement aux fins d’un arbitrage relatif […]

ITN  |  décembre 12, 2016

Nouvelles en Bref

(English) Trump election affects mega-regional negotiations including TTIP, TPP and RCEP

Brazil and India initial Bilateral Investment Treaty (BIT); text yet to be published

CETA signed; Canada and European Union to “work expeditiously” on creating a Multilateral Investment Court

ITN  |  décembre 12, 2016

Sentences et Decisions

(English) Venezuela to Pay Us$1 Billion For Expropriating Canadian Mining Company’s Investment

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

PCA tribunal deemed acts of Polish Agricultural Property Agency not attributable to Poland

Claimant not considered Investor due to interpretation of “Seat” under Cyprus–Montenegro BIT

Ecuador’s Levy on extraordinary oil profits at a 99% rate has breached Murphy’s legitimate expectations, decides PCA tribunal

Ecuador ordered by PCA tribunal to pay $24 million to Canadian Mining Company

ITN  |  mai 16, 2016

Nouvelles en Bref

Les sentences de 50 milliards USD contre la Russie dans les affaires Yukos sont invalidées par un tribunal néerlandais

L’avant-projet de texte du TTIP devrait être prêt d’ici à juillet ; le RDIE est conçu sur la base des propositions de l’UE et des États-Unis

TBI Chine-États-Unis : le RDIE devrait être inclus ; les négociations se poursuivent sur les listes négatives

Trois différends miniers : les premiers différends en matière d’investissements contre la Colombie sont rendus publics

L’AECG Canada-Union européenne a été de nouveau conclu en février pour inclure la proposition européenne de STI

Deuxième affaire contre l’Uruguay au CIRDI ; la décision dans l’affaire Philip Morris se fait attendre

Le centre d’arbitrage international de Singapour rend public son règlement d’arbitrage d’investissement

ITN  |  mai 16, 2016

Awards and Decisions

(English) 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

ITN  |  mai 16, 2016

Ressources et Evénements

Les traités d’investissement de la Suisse : l’heure du changement est venue

Le Système juridictionnel des investissements mis à l’épreuve : la nouvelle proposition européenne permettra de nouvelles attaques contre la santé et l’environnement

Perspectives alternatives du droit international sur l’investissement étranger : essais en l’honneur de Muthucumaraswamy Sornarajah

Repenser les Traités bilatéraux d’investissement : points critiques et choix publics

L’OMC et le droit international des investissements : la convergence des systèmes

Le Partenariat transpacifique, 1ère partie : un accord qui va trop loin

Les effets sur la durabilité de l’investissement extérieur direct de la Chine : passage en revue de la littérature

Changement de paradigme dans le droit international des investissements : plus équilibré, moins isolé, de plus en plus diversifié

ITN  |  février 29, 2016

Nouvelles en Bref

L’accord de Partenariat transpacifique a été signé à Auckland ; un expert indépendant des Nations Unies appelle les États à sauvegarder leur marge de manœuvre réglementaire  Le 4 février 2016, les ministres du Commerce de douze États du Pacifique se sont réunis à Auckland, en Nouvelle-Zélande, pour signer l’accord de Partenariat transpacifique (TPP). À la veille […]

ITN  |  février 29, 2016

Awards and Decisions

Un tribunal du CIRDI rejette un recours final pour indemnisation relatif à la résiliation par la Hongrie d’un accord d’achat d’électricité Electrabel S.A. c. la République de Hongrie, Affaire CIRDI n° ARB/07/1 Matthew Levine[*] Le recours final au titre du Traité sur la Charte de l’Énergie (TCE) d’une entreprise belge d’énergie, Electrabel S.A. (Electrabel), a […]

ITN  |  février 29, 2016

Resources and Events

(English) Resources published between October 2015 and March 2016; events between February and April 2016

ITN  |  novembre 26, 2015

Ressources and Evenements

Ressources publiées entre juillet et octobre 2015; événements entre novembre 2015 et janvier 2016

ITN  |  août 4, 2015

Ressources et Evenements

Ressources Les origines du droit international des investissements : l’empire, l’environnement et la sauvegarde du capital Par Kate Miles, Publié par Cambridge University Press, juillet 2015 Cet ouvrage examine l’évolution historique du droit international des investissements (DII), de ses origines pendant l’expansionnisme commercial et politique des États dominants du 17ème au début de 20ème siècle, jusqu’aux […]

ITN  |  mai 21, 2015

News in Brief

La Commission européenne répond aux préoccupations relatives au PTCI lors d’une réunion au Parlement européen  À l’occasion d’un échange de vue avec la Commission du commerce international du Parlement européen, le 18 mars 2015, la commissaire européenne en charge du Commerce, Cecilia Malmström, a présenté quatre « idées préliminaires »pour répondre aux préoccupations du public en lien […]

ITN  |  mai 21, 2015

Sentences et Decisions

Selon un tribunal de la CNUDCI, l’évaluation environnementale du Canada viole la norme minimale de traitement et le traitement national William Ralph Clayton, William Richard Clayton, Douglas Clayton, Daniel Clayton et Bilcon of Delaware Inc. c. le Gouvernement du Canada, CNUDCI Marquita Davis [*] Le contexte Dans une décision du 17 mars 2015, la majorité […]

ITN  |  mai 21, 2015

Ressources et Evenements

Ressources Guide de l’IISD sur la négociation des contrats miniers à l’intention des pays en développement, Volume I : Le succès se prépare Par Howard Mann, publié par l’Institut international pour le développement durable, avril 2015 Conscient de la nécessité de mettre à la disposition des pays en développement un outil pour les guider dans la […]

ITN  |  février 19, 2015

Awards and Decisions

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, Inc., Mobil Cerro Negro, Ltd., and Mobil Venezolana de Petroleos, Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/07/27 Matthew Levine An arbitration at […]

ITN  |  février 19, 2015

News in Brief

European Commission consultation shows public rejection of investor–state dispute settlement On January 13, the European Commission published a report and an accompanying memo analyzing the results of its consultation on investment protection and investor–state dispute settlement (ISDS) in the Transatlantic Trade and Investment Partnership (TTIP) under negotiation between the European Union and the United States. […]

ITN  |  février 19, 2015

Resources and Events

Resources IISD Best Practices Series: Performance Requirements in Investment Treaties By Suzy H. Nikièma, published by the International Institute for Sustainable Development, December 2014 The paper surveys the types of performance requirements (PRs) in use around the world, and briefly describes the WTO’s Agreement on Trade-Related Investment Measures (TRIMs). The study focuses on the meaning […]

ITN  |  novembre 19, 2014

Awards and Decisions

Yukos shareholders awarded record damages in two separate proceedings against Russia Martin Dietrich Brauch In two separate proceedings, shareholders of the defunct Russian oil and gas company OAO Neftyanaya Kompaniya Yukos (Yukos) were awarded over US$52 billion in compensation from Russia for expropriation and due process of law violations. On July 18, 2014, an UNCITRAL […]

ITN  |  novembre 19, 2014

News in Brief

New European Commissioners suggest that ISDS may be shut out of the TTIP The new President of the European Commission, Jean-Claude Juncker, said on October 22, 2014 that there is “no obligation” to include investor-state dispute settlement (ISDS) provisions in the trade and investment agreement under negotiation between the European Union and the United States, […]

ITN  |  novembre 19, 2014

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 the challenges arising from international investment agreements (IIAs) and to consider ways to reform the IIA regime.[1] The conference was held during the United Nations […]

ITN  |  novembre 19, 2014

Resources and Events

Resources The IISD Guide to Negotiating Investment Contracts for Farmland and Water By Carin Smaller, published by the International Institute for Sustainable Development, November 2014 The IISD Guide to Negotiating Investment Contracts for Farmland and Water is a legal and policy tool for governments and communities that are involved in negotiating investment contracts with foreign […]

In Accordance with Which Host State Laws? Restoring the ‘Defence’ of Investor Illegality in Investment Arbitration

Investment treaties are often criticised for being too ‘investor-friendly.’ With this in mind, it becomes important to clarify the mechanisms available to host states to defend against investment treaty claims. One such mechanism is found in the provisions included in many investment treaties, to the effect that investors must comply with host state law in order for their investment to enjoy treaty protection.

ITN  |  septembre 4, 2014

Yukos v. Russia: Issues and legal reasoning behind US$50 billion awards

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 Russian Federation (PCA Case No. AA 227) Veteran Petroleum Limited (Cyprus) v. The Russian Federation (PCA Case No. AA 228) In three awards dated 18 […]

ITN  |  août 13, 2014

Resources and Events

Resources World Investment Report 2014 United Nations Conference on Trade and Sustainable Development, June 2014 UNCTAD’s World Investment Report is an annual publication that focuses on trends in foreign direct investment (FDI) worldwide, at the regional and country levels and emerging measures to improve its contribution to development. The 2014 report shows that FDI inflows […]

ITN  |  août 13, 2014

News in Brief

Opposition to investor-state arbitration in TTIP grows The European Commission is being asked why investor-state arbitration provisions should be included in the Transatlantic Trade and Investment Partnership (TTIP), which has been under negotiation between the United States and European Union since July 2013. On July 11th, Germany’s upper parliament passed a resolution that highlights the […]

ITN  |  août 13, 2014

Awards and Decisions

Majority clears Peru of any wrongdoing in relation to close down of French-owned bank; dissenting arbitrator says that majority misconstrued facts and law Renée Rose Levy de Levi v. Republic of Peru, ICSID Case No. ARB/10/17, Award and Dissenting Opinion Diana Rosert A majority has rejected a claim by Renée Rose Levy, a French investor in […]

Risky Business or Risky Politics: What Explains Investor-State Disputes?

While there is a fair amount of scholarly work on the determinants of expropriation, we know less about the political and economic conditions under which the broader category of investor-state disputes take place. This article provides a statistical analysis of political and economic factors that contribute to the likelihood of an investor-state dispute; and a qualitative coding of measures which have resulted in arbitration cases.

Aron Broches and the Withdrawal of Unilateral Offers of Consent to Investor-State Arbitration

Several States have terminated bilateral investment treaties as they came up for renewal. The effectiveness of BIT termination, however, is limited by the “survival clauses” that are frequently included in IIAs. These provisions state that even after the treaty is terminated it will continue to apply to investments that were made while the treaty was in force for an additional 10 or 15 years.

ITN  |  mai 14, 2014

Resources and Events

Resources Recent Development’s in Investor-State Dispute Settlement United Nations Conference on Trade and Development, April 2014 UNCTAD’s annual review of investor-State dispute settlement cases, part of the IIA Issues Notes series, provides up-to-date statistical data on treaty-based ISDS cases as well as an overview of arbitral decisions issued in 2013. According to the note, 57 […]

ITN  |  mai 14, 2014

Awards and Decisions

ICSID tribunal finds jurisdiction over mining license dispute involving British and Australian companies in Indonesia Churchill Mining Plc v. Republic of Indonesia ICSID Case No. & Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ARB/12/14 and 12/40 Matthew A J Levine An ICSID tribunal has accepted jurisdiction over the consolidated […]

ITN  |  mai 14, 2014

News in Brief

UNCITRAL launches new transparency registry The UNCITRAL Secretariat has established a transparency registry[1] that will function as a repository for the publication of information and documents in treaty-based investor-State arbitration. This follows the entry into force of the UNCITRAL Rules on Transparency in treaty-based investor-State arbitration on April 1, 2014.[2] The registry will contain information […]

ITN  |  janvier 19, 2014

News in Brief

Australia changes position on investor-state arbitration in free trade agreement with Korea The Australian government has agreed to investor-state arbitration in the investment chapter of a free trade agreement with Korea, abandoning the position of the previous government which had made a decision not to sign up to such commitments. The deal, signed in December […]

ITN  |  janvier 19, 2014

Awards and Decisions

Libya ordered to pay US$935 million to Kuwaiti company for cancelled investment project; jurisdiction established under Unified Agreement for the Investment of Arab Capital Mohamed Abdulmohsen Al-Kharafi & Sons Co. v. Libya and others, Final Arbitral Award Diana Rosert A tribunal has ordered Libya to pay US$935 million in a dispute over a land-leasing contract […]

ITN  |  janvier 19, 2014

Resources and Events

Resources United Kingdom Assessment of the Costs and Benefits of Investment Protection Treaties United Kingdom Department for Business, Innovation and Skills, November 2013 Three new reports commissioned by the Government of the United Kingdom examine the cost and benefits of investment treaties for the UK. The first report develops an analytical framework to assess costs […]

State Liability for Regulatory Change: How International Investment Rules are Overriding Domestic Law

With governments around the world pushing efforts to negotiate and approve mega-investment treaties, it is important to be clear on just what these investment treaties do and do not mean. This article compares U.S. domestic law and international treaty rules on state liability for regulatory changes. It shows that arbitral tribunals have interpreted investment treaty rules in a manner far more favorable to the interests of investors than the approaches adopted in U.S. courts.

ITN  |  septembre 20, 2013

Resources and Events

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 the large emerging market countries, focusing on the four BRIC states (Brazil, Russia, India, and China) and on the services sector, meaning primarily telecommunications, finance, […]

ITN  |  septembre 20, 2013

Awards and Decisions

Claim against Turkmenistan dismissed for lack of jurisdiction; claimant failed to abide by domestic litigation requirement Kılıç İnşaat İthalat İhracat Sanayi ve Ticaret Anonim Şirketi v. Turkmenistan, ICSID Case No. ARB/10/1 Damon Vis-Dunbar A Turkish claimant’s case before an ICSID tribunal has been dismissed for failing to first pursue the dispute before Turkmenistan’s domestic courts. […]

ITN  |  septembre 20, 2013

News in Brief

South African trade minister confirms denunciation of EU BITs South Africa’s Minister of Trade and Industry, Rob Davies, confirmed that his government was terminating investment treaties with Belgium, Luxembourg and Spain because they contained “serious flaws.” Responding to a parliamentary question on the reason for terminating these agreements, Minister Davies explained that they were “poorly […]

Online Statements by National Investment Boards or Agencies and Their Potential Legal Effects

National investment boards or agencies operate in several countries with a view to attract foreign investment. Towards this objective, they often maintain websites highlighting the advantages of investing in their country. This article surveys some common categories of representations and promises made on the websites of national investment boards and discusses their potential legal implications.

Threat of Pharmaceutical-Related IP Investment Rights in the Trans-Pacific Partnership Agreement: An Eli Lilly v. Canada Case Study

There are many reasons to strike the draft TPP Investment Chapter, a chapter that restricts government sovereignty to regulate business activities while simultaneously ceding de facto regulatory power to foreign investors and private arbitrators. The Eli Lilly claim against clarifies the risks of including IP rights in investment chapters and the boundary-pushing claims that can be brought on behalf of foreign pharmaceutical companies.

New UNCITRAL Arbitration Rules on Transparency: Application, Content and Next Steps

In July 2013, the United Nations Commission on International Trade Law (UNCITRAL) adopted a package of rules aiming to ensure transparency in investor-State arbitration, ratifying the work done by delegations to UNCITRAL—comprised of 55 Member States, additional observer States and observer organizations—over the course of nearly three years of negotiations. With the adoption of the new rules, there is now a carefully negotiated and widely approved template that can serve as a model for how to conduct investor-State arbitrations transparently.

ITN  |  juin 26, 2013

Awards and Decisions

Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. ARB/06/3 Margaret Devaney In a May 6, 2013 award, an ICSID tribunal ruled that the Rompetrol Group (TRG) had established a limited breach of the Netherlands-Romania bilateral investment treaty (BIT) but had failed […]

ITN  |  juin 26, 2013

Resources and Events

Resources Investment Contracts for Farmland and Water: 10 Steps Carin Smaller, International Institute for Sustainable Development, 2013 This brief paper outlines 10 important steps to follow when negotiating investment contracts for agricultural land and water. It is intended as a resource for parliamentarians, government officials, landholders and local communities. It provides an overview of a […]

ITN  |  juin 26, 2013

News in Brief

European Commission seeks permission to begin investment treaty negotiations with China The European Commission has proposed a negotiating mandate to EU member states for an investment agreement with China. This could become the EU’s first stand-alone investment agreement since it gained jurisdiction over foreign direct investment in 2009. The negotiating mandate must be approved by […]

ITN Quarterly June 2013

PDF – English (708 KB) – Français (393 KB) – Español (689 KB) In this issue: Smart Flexibility Clauses in International Investment Agreements; The Quest for Commodities: Chinese Investment in Farmland; Investment Treaties and the Search for Market Access in China; The Draft Investment Chapter of the Canada-EU Comprehensive Economic and Trade Agreement: A Step […]

The Draft Investment Chapter of the Canada-EU Comprehensive Economic and Trade Agreement: A Step Backwards for the EU and Canada?

This brief article describes some important aspects of the draft investment chapter of the Canada-EU CETA, as well as commentary on the potential implications should Canada and EU sign on to these provisions.

The Evolving BIT: A Commentary on Canada’s Model Agreement

While the revision that gave birth to the United States’ Model bilateral investment treaty in April 2012 has been closely observed and commented upon, much less attention has been paid to changes made to the Canadian Model BIT.