BITs

ITN  |  Monday June 12th, 2017

News in Brief

TPP-11 to move forward; United States to focus on bilateral negotiations and NAFTA

Ecuador denounces its remaining 16 BITs and publishes CAITISA audit report

ECJ rules that European Union–Singapore FTA requires ratification by EU member states

EU General Court annuls Commission decision that refused registration of “Stop TTIP”

India opposes “trade and investment facilitation” item in WTO General Council agenda

ITN  |  Monday March 13th, 2017

Awards and Decisions

ICSID tribunal dismisses claims brought against Indonesia based on forged mining licences Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ICSID Case No. ARB/12/40 Inaê Siqueira de Oliveira [*] After rendering separate decisions on jurisdiction¾one for the case brought by British company Churchill Mining PLC under the United […]

Awards  |  Monday March 13th, 2017

ICSID tribunal dismisses claims brought against Indonesia based on forged mining licences

Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ICSID Case No. ARB/12/40  After rendering separate decisions on jurisdiction—one for the case brought by British company Churchill Mining PLC under the United Kingdom–Indonesia bilateral investment treaty (BIT), and another for Australian company Planet Mining Pty. Ltd.’s case under […]

Awards  |  Monday March 13th, 2017

PCA tribunal dismisses expropriation and FET claims concerning an eco-touristic venture 

Peter A. Allard v. The Government of Barbados, PCA Case No. 2012-06 On June 27, 2016, a tribunal under the auspices of the Permanent Court of Arbitration (PCA) dismissed all claims by Canadian businessman Peter A. Allard against Barbados under the Canada–Barbados bilateral investment treaty (BIT) and the Arbitration Rules of the United Nations Commission […]

ITN  |  Monday December 12th, 2016

News in Brief

Trump election affects mega-regional negotiations including TTIP, TPP and RCEP In September, EU officials recognized that the negotiations on the EU–U.S. Transatlantic Trade and Investment Partnership (TTIP) were unlikely to be concluded before the end of U.S. President Barack Obama’s mandate. After November 9, when protectionist Republican candidate Donald Trump won the U.S. presidential elections, […]

ITN  |  Monday December 12th, 2016

Awards and Decisions

Venezuela to pay US$1 billion for expropriating Canadian mining company’s investment Rusoro Mining Ltd. v. the Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/12/5 Claudia María Arietti López [*] In an award dated August 22, 2016, a tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) ordered Venezuela to […]

ITN  |  Monday December 12th, 2016

Claimant not considered investor due to interpretation of “seat” under Cyprus–Montenegro BIT

CEAC Holdings Limited v Montenegro, ICSID Case No. ARB(AF)/14/8 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) declared by majority that the claimant did not have a “seat” in Cyprus under the Cyprus–Montenegro bilateral investment treaty (BIT) and therefore did not qualify as an “investor” under the BIT. Accordingly, the tribunal […]

ITN  |  Monday December 12th, 2016

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

Murphy Exploration & Production Company – International v. Republic of Ecuador, PCA Case No. 2012-16 (formerly AA 434)  In the proceeding brought by U.S.-based company Murphy Exploration & Production Company – International against Ecuador, a tribunal under the auspices of the Permanent Court of Arbitration (PCA) held that Ecuador breached the fair and equitable (FET) […]

ITN  |  Wednesday August 10th, 2016

Awards and Decisions

Philip Morris v. Uruguay: all claims dismissed; Uruguay to receive US$7 million reimbursement Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7 Martin Dietrich Brauch [*] The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in […]

ITN  |  Wednesday August 10th, 2016

Corporate restructuring and abuse of rights: PCA tribunal deems Philip Morris’s claims against Australia’s tobacco plain packaging rules inadmissible 

Philip Morris Asia Limited v. The Commonwealth of Australia, PCA Case No. 2012-12 Australia enacted the Tobacco Plain Packaging Act, a tobacco control legislation that removed brands from cigarette packs, on November 21, 2011. On the very same day, Philip Morris Asia Limited (PM Asia) served a Notice of Arbitration against Australia under the Hong […]

ITN  |  Wednesday August 10th, 2016

ICSID tribunal upholds Panama’s abuse of process objection; Transglobal to pay arbitration costs and most of Panama’s legal expenses

Transglobal Green Energy, LLC and Transglobal Green Panama, S.A. v. Republic of Panama (ICSID Case No. ARB/13/28) In the proceeding brought by Transglobal Green Energy, LLC (a U.S.-based company) and Transglobal Green Panama S.A. (a Panama-based company) against Panama under the United States–Panama bilateral investment treaty (BIT), an ICSID tribunal accepted Panama’s abuse of process […]

ITN  |  Wednesday August 10th, 2016

Venezuela ordered to pay US$1.202 billion plus interest to Canadian mining company Crystallex for FET breach and expropriation

Crystallex International Corporation v. Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/11/2 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). The tribunal considered […]

ITN  |  Wednesday August 10th, 2016

Turkey–Turkmenistan BIT: tribunal finds claims admissible but dismisses them on merits

İçkale İnşaat Limited Şirketi v. Turkmenistan, ICSID Case No. ARB/10/24  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. It found the claims admissible, despite an unusually worded arbitration agreement in the Turkey–Turkmenistan bilateral investment treaty (BIT). The […]

ITN  |  Wednesday August 10th, 2016

Brexit and contentious topics complicate TTIP negotiations; public opposition continues

The 14th round of Transatlantic Trade and Investment Partnership (TTIP) negotiations was held in Brussels from July 11 to 15, 2016. Chief negotiators from the European Union, Ignacio Bercero, and United States, Dan Mullaney, admitted the need to overcome significant differences regarding services and procurement, despite progress on tariff elimination and regulatory cooperation. Another factor holding back negotiations […]

ITN  |  Wednesday August 10th, 2016

EU negotiation agenda to continue despite Brexit; MERCOSUR and Indonesia at sight

Despite the uncertainties in TTIP negotiations, EU Trade Commissioner Cecilia Malmström said they would survive Brexit, and is pushing to conclude negotiations before U.S. President Barack Obama leaves office in early 2017. Malmström recalled that the European Commission would continue to negotiate the TTIP and other trade and investment agreements on behalf of the United Kingdom as […]

ITN  |  Wednesday August 10th, 2016

United Kingdom makes trade and investment negotiation moves for post-Brexit era

On July 8, 2016, Sajid Javid, former Business Secretary for the United Kingdom, launched preliminary talks with India on a future trade relationship between the two countries as soon as Britain formally leaves the European Union. “Following the referendum result,” Javid stated, “my absolute priority is making sure the UK has the tools it needs to continue […]