ITN Quarterly March 2024
Insights ISDS and Fossil Fuels: What role for a carveout?, by Lukas Schaugg, Suzy Nikièma, and Nathalie Bernasconi Successful Regional Investment Negotiations as a tool for IIAs Reform: A Multi-Identity […]
Current Issue
Investor–State Dispute Settlement and Fossil Fuels: What role for a carveout?
Last week, the Organisation for Economic Co-operation and Development (OECD) hosted its 9th annual Investment Treaty Conference on “Supporting the Global Energy Transition: Methods to align investment treaties with […]
Successful Regional Investment Negotiations as a Tool for IIA Reform: A multi-identity perspective
Egypt is considered a prime model of a historically multi-identity country that has always tried to attain balance and consistency in its foreign policy, including its economic pillar, between different […]
English High Court allows challenge to arbitral award for having been obtained by fraud and in violation of public policy
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ICSID tribunal rejects Spanish power company claims – no legitimate expectations of market framework improvement
Orazul International España Holdings S.L. v Argentine Republic, ICSID Case No. ARB/19/25, Award, 14 December 2023 The ICSID tribunal issued its award in the Orazul case. The tribunal rejected all […]
The ICSID Tribunal’s decision in BSG Resources v. Guinea concludes that the mining licences were obtained through corruption
BSG Resources Limited (in administration), BSG Resources (Guinea) Limited and BSG Resources (Guinea) SÀRL v. Republic of Guinea (I), ICSID Case No. ARB/14/22 Summary BSG Resources Limited (in administration), BSG […]
ICSID tribunal upholds Guatemala’s preliminary objection against the import of 10 umbrella clauses through an MFN clause while rejecting and joining to the merits the remaining preliminary objections raised by the state
Grupo Energía Bogotá S.A. E.S.P. and Transportadora de Energía de Centroamérica S.A. v. Republic of Guatemala, ICSID Case No. ARB/20/48, Decision on Preliminary Objections, November 24, 2023 Summary The companies […]
ICSID tribunal finds Hungary in violation of its BIT obligations and awards damages to Sodexo Pass International
Sodexo Pass International SAS v. Hungary, Award, ICSID Case No. ARB/14/20 Summary In 2014, Sodexo Pass International filed an ICSID claim against Hungary, alleging breaches of the latter’s obligations under […]
An ICSID tribunal further restricts the scope of security for costs applications
Vercara LLC (formerly Security Services LLC, formerly Neustar, Inc) v. Republic of Colombia, ICSID Case No. ARB/20/7, Decision on security for costs, September 27, 2023 Summary The decision concerns security […]
UNCITRAL 46th Session zoned in on the Advisory Centre for Investment Dispute Resolution
On 22-26 January 2024, UNCITRAL Working Group III on Reform of ISDS held its 47th session in Vienna. The majority of the session was devoted to the Draft Statute of […]
EU and Canada issue joint interpretative statements on CETA investment standards
The 4th Joint Committee of the EU-Canada Comprehensive Economic Trade Agreement (CETA) held its meeting on 9 February, 2024, leading to, among other things, a joint interpretation on investment. The […]
New withdrawals from the ECT
On 22 February 2024, the UK government announced that it is leaving the ECT after the failure of efforts to align it with net zero. The withdrawal announcement by Slovenia […]
Annual WTO Ministerial Conference wraps up in Abu Dhabi
The 13th Ministerial Conference (MC13) of the WTO took place on 26 February-2 March 2024, in Abu Dhabi, United Arab Emirates, with close to 4,000 participants. The ministers ended the […]
UNCTAD’s new multistakeholder platform on International Investment Agreement (IIA) reform holds its first meeting
UNCTAD held the first of its newly established Multi-stakeholder Platform on IIA Reform on 4 March, 2024, with over 40 participants. The platform was launched at the 8th World Investment […]
UNCITRAL 7th Inter-sessional Meeting of Working Group III in Belgium
The 7th Inter-sessional Meeting of Working Group III was held in Egmont Palace in Brussels, Belgium on 7 and 8 March, 2024. The overarching theme of the meeting was “a […]
OECD Conference discussed climate action carveout from ISDS
On 11 March, 2024, the OECD held its 9th Investment Treaty Conference focusing on methods to align investment treaties with the Paris Agreement. The main reform proposal discussed was a […]
UNIDROIT and ICC are working on investment contract harmonisation
On 13-15 March, 2024, the UNIDROIT and ICC Institute of World Business Law Working Group on International Investment Contracts held its Second session in Paris. The Working Group, composed mostly […]
The International Seabed Authority discussing deep sea-bed mining
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Another tribunal to reject the Achmea-based jurisdictional objection
Adria Group B.V. and Adria Group Holding B.V. v. The Republic of Croatia, Decision on Intra-EU Jurisdictional Objection, ICSID Case No. ARB/20/6
UNCITRAL tribunal finds Russia liable to pay USD 207.8 million for the unlawful expropriation of the assets of a Ukrainian electricity company
JSC DTEK Krymenergo v Russia, PCA Case No. 2018-41, Award, November 1, 2023
UN General Assembly Resolution on Tax Convention
Based on a draft resolution submitted by Nigeria on behalf of the African Group, the recent United Nations (UN) General Assembly resolution on the UN tax treaty aims to bolster […]
European Commission publishes model BIT clauses between EU member states and third countries
In September 2023, the European Commission has unveiled a non-paper presenting model clauses for BITs between EU member states and third countries. These model clauses, accompanied by annotations, aim to […]
UNCITRAL Working Group III continued its work in Vienna during its 46th session
In October 2023, UNCITRAL delegates to Working Group III gathered again in Vienna to continue their work on ISDS reform. Two topics were discussed—(i) draft provisions on the establishment of […]
UNCTAD’s World Investment Forum
From October 15 to 20, 2023, UNCTAD organized its eighth World Investment Forum in Abu Dhabi. The World Investment Forum highlighted global investment challenges and opportunities. Discussions focused on sustainable […]
British court upholds Nigeria’s challenge against controversial mega-award
The English High Court upheld Nigeria’s challenge against controversial awards in favour of Process & Industrial Developments Limited (P&ID) by finding significant irregularities in the arbitration process. The arbitration awards […]
High-profile coal phase-out intra-EU arbitration discontinued
As we reported earlier, in 2021, the German energy company RWE filed for a controversial ECT arbitration challenging the Netherlands’ coal phase-out. In the context of the arbitration, the Netherlands […]
EU respondent in one of the arbitrations brought by an oil-refining group
EU appears as a respondent in one of the three arbitrations brought by oil-refining companies belonging to Klesch Group (here, here, and here). It has been reported that the trio […]
Billionaire Clive Palmer files another arbitration against Australia
The Singapore company Zeph Investments Pte, owned by Australian billionaire Clive Palmer, has reportedly filed a notice of intention to commence arbitration against Australia based on the Singapore–Australia Free Trade […]
Resources
Complex Designers and Emergent Design: Reforming the Investment Treaty System Anthea Roberts and Taylor St John, American Journal of International Law, 116(1), 96–149. Sept 2021 Available here. Overview of Contract […]