Results for: expropriation

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 …

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NAFTA tribunal orders Canada to pay U.S. wind power developer more than CAD28 million

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 …

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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 …

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India’s Joint Interpretive Statement for BITs: An Attempt to Slay the Ghosts of the Past

The Government of India has proposed a Joint Interpretative Statement to its bilateral investment treaty (BIT) partners. The statement clarifies key substantive and procedural provisions, bringing them more in line with India’s new foreign investment policy.

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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 …

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Ecuador ordered by PCA tribunal to pay $24 million to Canadian mining company

Copper Mesa Mining Corporation v. Republic of Ecuador, PCA No. 2012-2  A tribunal under the auspices of the Permanent Court of Arbitration (PCA) constituted under the Canada–Ecuador Agreement for the Promotion and Reciprocal Protection of Investments (FIPA) has reached the …

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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 …

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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 …

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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 The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in early …

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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 …

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Claimant fails to comply with three-year limitation period under CAFTA-DR

Corona Materials, LLC v. Dominican Republic, ICSID Case No. ARB(AF)/14/3 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) declared that it lacked jurisdiction in the case of Corona Materials LLC (a U.S. company) against the Dominican …

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ICSID tribunal awards damages for Venezuela’s indirect expropriation of steel industry investment 

Tenaris S.A. and Talta-Trading e Marketing Sociedade Unipessoal LDA v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/26 An arbitration tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has issued its award on the nationalization of a …

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ICSID tribunal orders Zimbabwe to return expropriated farms

Bernhard von Pezold and others v. Zimbabwe, ICSID Case No. ARB/10/15 In a 318-page award issued July 28, 2015 but only published February 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ordered Zimbabwe to return …

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Tribunal dismisses all claims by U.S. mining investor against Oman

Adel A. Hamadi Al Tamimi v. Sultanate of Oman, ICSID Case No. ARB/11/33 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) dismissed all claims against Oman, in an award dated November 3, 2015. The claimant was …

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Quiborax awarded US$50 million against Bolivia, one-third of initial claim

Quiborax S.A. and Non-Metallic Minerals S.A. v. Plurinational State of Bolivia (ICSID Case No. ARB/06/2) On September 16, 2015, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ordered Bolivia to pay approximately US$50 million in compensation …

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The Brazilian Agreement on Cooperation and Facilitation of Investments (ACFI): A New Formula for International Investment Agreements?

Since the signing of the first Agreement on Cooperation and Facilitation of Investments (ACFI) by Brazil, in March 2015, English translations of the document and analyses of its innovative aspects have been published.[1] The hidden question is: to what extent …

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The Brazil–Mozambique and Brazil–Angola Cooperation and Investment Facilitation Agreements (CIFAs): A Descriptive Overview

Brazil and Mozambique signed on March 30, 2015 the first Cooperation and Investment Facilitation Agreement (CIFA) based on Brazil’s new model bilateral investment treaty (BIT). The second was signed on April 1, 2015 between Brazil and Angola. Unlike traditional BITs, …

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Awards and Decisions

US$1.76 billion dollar award levied against Ecuador in dispute with Occidental; tribunal split over damages   Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11 Damon Vis-Dunbar The Republic of Ecuador …

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Awards and Decisions

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 …

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News in Brief

Australia to reject investor-state dispute resolution in TPPA The Australian government will not sign on to investor-state dispute resolution provisions in the Trans-Pacific Partnership Agreement (TPPA), according to an Australian government official. “We have made it clear that we will …

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