The Energy Charter Secretariat is in expansion mode, wanting to gain access to energy resources in Africa and Asia for its members—and extending a far-reaching and outdated investment protection system to investments in resource-rich countries.
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 […]
Windstream Energy LLC v. Government of Canada, PCA Case No. 2013-22 An arbitral tribunal under Chapter 11 of the North American Free Trade Agreement (NAFTA) has reached the award stage. Although dismissing the discrimination and indirect expropriation claims, the tribunal upheld the claim of failure to provide fair and equitable treatment (FET), and ordered Canada […]
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.
ICSID tribunal upholds Panama’s abuse of process objection; Transglobal to pay arbitration costs and most of Panama’s legal expenses
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 objection.
An arbitration tribunal constituted under the North American Free Trade Agreement (NAFTA) has issued its award subject to a dissenting opinion.
In a judgment dated April 20, 2016, the District Court of The Hague, in the Netherlands, set aside awards that had ordered Russia to pay US$50 billion to the shareholders of Yukos, a bankrupt oil company.
Slovenia is condemned to pay €20 million in damages and US$10 million in costs to Croatian national electric company
An award rendered on December 17, 2015 by an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) added a new—and apparently final—chapter to a nearly 20-year-old conflict between the governments of Croatia and Slovenia over the supply of electricity generated by the Krško Nuclear Power Plant (Krško NPP), located in Slovenia.
ICSID tribunal dismisses final claim for compensation in relation to Hungary’s 2008 termination of power purchase agreement
Electrabel S.A. v. Republic of Hungary, ICSID Case No. ARB/07/1 A Belgian energy company—Electrabel S.A. (Electrabel)—has failed in its final claim under the Energy Charter Treaty (ECT). An International Centre for Settlement of Investment Disputes (ICSID) tribunal has found no breach of the ECT’s fair and equitable (FET) treatment standard by Hungary. In 2012 the […]
Canada receives investor complaints over provincial energy and environment policies In recent months the government of Canada has received two complaints related to energy and environmental policies adopted by its provinces. Both investors have served Ottawa with notices of intent to submit a claim to arbitration under NAFTA’s investment chapter. A Delaware-based energy firm is […]
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 […]
Vattenfall launches new claim against Germany The Swedish state-run energy firm Vattenfall has launched a second claim against Germany. The claim stems from Germany’s May 2011 decision to phase-out its nuclear power plants, in which 8 plants have been shuttered and the remaining 9 plants to be closed over the next decade. While Germany has […]
As governments increasingly turn to renewable energy to mitigate climate change, domestic climate-related policies in the form of price support measures such as feed-in tariffs (FiTs) have played an important role in stimulating the much needed investment—public and private, domestic and foreign—in the sector. Feed-in tariffs are characterized by guaranteed electricity purchase prices (set higher […]
Philip Morris files for arbitration over intellectual property dispute with Australia The tobacco company Philip Morris filed for arbitration on 21 November 2011, claiming the government of Australia’s regulations on cigarette branding breach the Hong Kong-Australia bilateral investment treaty. The announcement arrived on the same day that the Australian Parliament passed legislation that bans most […]
The oil and gas industry faces increasingly strict environmental standards in developed countries. However, the majority of the world’s proven oil reserves are in developing countries and economies in transition, which often lack sophisticated regimes for environmental protection. Even when legislative frameworks are well developed, there are often deficiencies in capacity and an unwillingness to […]
More legal woes for Canada’s Feed-in Tariff program for renewable energy Canada could soon be faced with arbitration for alleged breach of its obligations under the North American Free Trade Agreement (NAFTA). On 6 July 2011, a Texas-based company, Mesa Power Group LLC, served Canada with a Notice of Intent to Submit a Claim to […]
*These are abridged versions of articles originally published by the independent news service Investment Arbitration Reporter (http://www.iareporter.com/). They are used with permission and may not be reproduced without the express permission of IAReporter. Parties announce settlement of dispute over German power plant 28.8.2010 A Swedish power company and the Federal Republic of Germany […]
By Fernando Cabrera Diaz May 11, 2010 Anglo-Argentinean energy firm Pan American Energy (PAE) has initiated arbitration against Bolivia over the nationalization of its subsidiary Chaco Petroleum by the Morales government in 2009. The arbitration was registered by ICSID on April 12 2010, despite Bolivia having withdrawn from the ICSID Convention in 2007. A PAE […]
American gas services firm Exterran files for arbitration against Venezuela over nationalized assets
By Fernando Cabrera Diaz May 11, 2010 (NOTE: A correction has been made to this article. An explanation is posted below) Houston-based Exterran Holdings has taken Venezuela to ICSID over the nationalization of its gas services support business in the country. The arbitration, registered by ICSID on April 12, 2010, is the second in as […]
By Fernando Cabrera Diaz April 8, 2010 On March 16, the International Centre for Settlement of Investment Disputes (ICSID) registered a second arbitration initiated by Denver-based RSM Production Corp against Grenada over the latter’s termination of the company’s exclusive oil rights off the coast of the island nation. RSM has claimed that corrupt Grenadian officials […]
By Elizabeth Whitsitt March 11, 2010 In the past two months, arbitral tribunals have been convened in a few ICSID arbitrations. Most recently, a tribunal was constituted in a dispute initiated by an American investor against the Republic of Egypt in relation to the alleged expropriation of its investment in the Arab Republic’s hotel and […]
By Elizabeth Whitsitt March 11, 2010 Despite snow storm interruptions a tribunal, composed of Mr. V.V. Vedeer, Ms. Gabrielle Kaufmann-Kohler, and Ms. Brigitte Stern, heard the merits of the dispute between Belgium-based energy firm Electrabel SA and Hungary last month. Along with AES Summit Generation Limited v. Republic of Hungary, the Electrabel SA v. Republic […]
By Damon Vis-Dunbar 2 May 2009 The German government has declined to provide information on an investment dispute with the European utility Vattenfall on the grounds that it is against government policy to comment or disclose information on pending arbitrations. As has been reported in the financial press, Vattenfall is bringing the German government to international […]
Tribunal deniega alegato de necesidad en laudo recientemente publicado: National Grid p.l.c. c. República Argentina
Por Elizabeth Whitsitt 2 de Marzo, 2009 En un laudo recientemente publicado, un tribunal constituido conforme a una solicitud de arbitraje bajo las reglas de arbitraje de la Comisión de Naciones Unidas para el Derecho Mercantil Internacional (CNUDMI) encontró culpable a la República Argentina por los daños infringidos a National Grid p.l.c. por un total […]
Tribunal rebuffs defense of necessity in recently published award: National Grid p.l.c. v. Argentine Republic
By Elizabeth Whitsitt 2 March 2009 In a recently published award, a tribunal convened pursuant to a request for arbitration under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL) found the Argentine Republic liable to the British firm National Grid p.l.c. for damages totaling more than US$53 million. The dispute, […]
Perú gana demanda multimillonaria del CIADI sobre un acuerdo de estabilización presentada por una firma americana de energía
Por Fernando Cabrera Díaz 23 de Diciembre de 2008 La República de Perú se ha defendido con éxito en contra de una demanda iniciada por la firma Aguaytia Energy LLC (AEL) con sede en Delaware. AEL ha reclamado US$142 millones en compensación por lo que según alega fue la violación de un acuerdo de estabilización […]
By Fernando Cabrera Diaz 23 December 2008 The Republic of Peru has defended itself successfully against a claim initiated by Delaware-based Aguaytia Energy LLC (AEL). AEL had sought US$142 million as compensation for what it claimed was Peru’s violation of a stabilization agreement. However, the Tribunal disagreed and instead held that the stability agreement did […]
Ecuador hallado culpable por violación de contratos de compraventa de energía eléctrica y tratado de inversión
Por Damon Vis-Dunbar 29 de Agosto de 2008 El proveedor de electricidad Electroquil SA fue otorgado US$ 5.578.566 más intereses producto de varias violaciones de contratos de compraventa de energía eléctrica (en inglés, PPAs) respaldados por el gobierno de Ecuador. Si bien Ecuador también fue encontrado culpable por haber infringido el tratado bilateral de inversiones […]
Por Elizabeth Whitsitt 29 de Agosto de 2008 En uno de los dos laudos dictados por el CIADI en agosto donde la firma estadounidense Duke Energy se encuentra involucrada, un tribunal declaró culpable a la República de Perú frente a Duke Energy International Peru Investments No. 1 Ltd. (DEI Bermuda) por daños que alcanzan los […]
Duke Energy International Peru Investments No. 1 Ltd. v. Republic of Peru: Foreign investors in Peru are guaranteed tax stability
By Elizabeth Whitsitt 29 August 2008 In one of two ICSID awards handed down in August involving the US firm Duke Energy, a Tribunal has found the Republic of Peru liable to Duke Energy International Peru Investments No. 1 Ltd. (DEI Bermuda) for damages totaling US$ 18,440,746 plus interest after the SUNAT, Peru’s National Tax […]
Duke Energy Electroquil Partners and Electroquil SA v Ecuador: Ecuador found liable for breaches of power purchase agreements and investment treaty
By Damon Vis-Dunbar 29 August 2008 The electricity provider Electroquil SA has been awarded US$ 5,578,566 plus interest stemming from several breaches of power purchase agreements (PPAs) backed by the government of Ecuador. While Ecuador was also found to have breached the Ecuador-US bilateral investment treaty, those violations did not result in additional monetary damages. […]
By Fernando Cabrera Diaz 6 August 2008 A July 16-17 meeting of the Bolivarian Alternative for the Americas (comprised of Bolivia, Cuba, Dominica, Nicaragua, and Venezuela)* ended without public mention of the International Centre for Settlement of Investment Disputes (ICSID), the World Bank agency that administers investor-state arbitrations. Nonetheless, the bloc’s push for a regional […]