{"id":445,"date":"2010-02-10T12:26:00","date_gmt":"2010-02-10T17:26:00","guid":{"rendered":"http:\/\/itn.mattrock.ca\/2010\/02\/10\/twc-group-settles-with-the-dominican-republic-2\/"},"modified":"2013-01-24T02:35:28","modified_gmt":"2013-01-24T08:35:28","slug":"twc-group-settles-with-the-dominican-republic-2","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2010\/02\/10\/twc-group-settles-with-the-dominican-republic-2\/","title":{"rendered":"TWC Group settles with the Dominican Republic"},"content":{"rendered":"<p><span style=\"font-size: small;\">By Elizabeth Whitsitt<\/span><\/p>\n<p><span style=\"font-size: small;\">February 14, 2010<\/span><\/p>\n<p><span style=\"font-size: small;\">TWC Group, Inc. and its affiliate Dominican Energy Holdings L.P have reached a settlement with the Dominican Republic, ending a dispute that began in 2007.<\/span><\/p>\n<p><span style=\"font-size: small;\">TWC had been seeking some US$ 680 million for alleged violations of the Central America-Dominican Republic-United States Free Trade Agreement (CAFTA-DR).<\/span><\/p>\n<p><span style=\"font-size: small;\">In a joint letter issued on 30 June 2009 to a tribunal constituted under the <span class='tooltipsall tooltipsincontent classtoolTips3'>UNCITRAL<\/span> Arbitration Rules, the parties announced that they had reached an agreement, and requested discontinuance of the arbitration proceedings.\u00a0 In its consent award made available to the public only recently, the tribunal accepted the parties\u2019 request for discontinuance.\u00a0 Additionally the tribunal ordered that costs of the arbitration \u2013 which have been fixed at some EUR$ 212 thousand \u2013 be born equally between the parties.<\/span><\/p>\n<p><span style=\"font-size: small;\">The TWC Group did not respond to requests made by <span class='tooltipsall tooltipsincontent classtoolTips60'>ITN<\/span> for further information about the settlement.<\/span><\/p>\n<p><span style=\"font-size: small;\">As previously reported by ITN, in 2007 TCW\u2019s French parent company, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, launched parallel arbitral proceedings against the Caribbean nation under a different treaty, the 2003 Dominican Republic-France bilateral investment treaty (DR-France <span class='tooltipsall tooltipsincontent classtoolTips63'>BIT<\/span>).\u00a0 In October 2008, an arbitral tribunal issued a decision on jurisdiction in which it allowed the arbitration to proceed to the merits phase of the dispute.<\/span><\/p>\n<p><span style=\"font-size: small;\">Sources:<\/span><\/p>\n<p><span style=\"font-size: small;\">Consent Award in TWC Group, Inc. v. Dominican Energy Holdings L.P. is available here: <\/span><a href=\"http:\/\/ita.law.uvic.ca\/documents\/TD-DRConsentAward_002.PDF\"><span style=\"font-size: small;\">http:\/\/ita.law.uvic.ca\/documents\/TD-DRConsentAward_002.PDF<\/span><\/a><\/p>\n<p><span style=\"font-size: small;\">Procedural Order No. 4 in TWC Group, Inc. v. Dominican Energy Holdings L.P. is available here: <\/span><a href=\"http:\/\/ita.law.uvic.ca\/documents\/TD-DRPO4_002.pdf\"><span style=\"font-size: small;\">http:\/\/ita.law.uvic.ca\/documents\/TD-DRPO4_002.pdf<\/span><\/a><\/p>\n<p><span style=\"font-size: small;\">Related ITN Reporting:<\/span><\/p>\n<p><span style=\"font-size: small;\">\u201cSoci\u00e9t\u00e9 G\u00e9n\u00e9rale passes jurisdictional hurdle in dispute with Dominican Republic; controversy erupts over press release,\u201d By Fernando Cabrera Diaz, Investment Treaty News (28 October 2008), available here: <\/span><\/p>\n<p><a href=\"http:\/\/www.investmenttreatynews.org\/cms\/news\/archive\/2008\/10\/28\/soci-233-t-233-g-233-n-233-rale-passes-jurisdictional-hurdle-in-dispute-with-dominican-republic-controversy-erupts-over-press-release.aspx\"><span style=\"font-size: small;\">http:\/\/www.investmenttreatynews.org\/cms\/news\/archive\/2008\/10\/28\/soci-233-t-233-g-233-n-233-rale-passes-jurisdictional-hurdle-in-dispute-with-dominican-republic-controversy-erupts-over-press-release.aspx<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips3','United Nations Commission on International Trade Law'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips60','Investment Treaty News'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips65','East African community'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips70','free trade agreement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips104','responsabilit\u00e9 sociale des entreprises'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips118','Union europ\u00e9enne'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips119','Uni\u00f3n Europea'); <\/script>","protected":false},"excerpt":{"rendered":"<p>By Elizabeth Whitsitt February 14, 2010 TWC Group, Inc. and its affiliate Dominican Energy Holdings L.P have reached a settlement with the Dominican Republic, ending a dispute that began in [&hellip;]<script type=\"text\/javascript\"> toolTips('.classtoolTips65','East African community'); <\/script><\/p>\n","protected":false},"author":2,"featured_media":15869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1991],"class_list":["post-445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-itn","tag-cafta-dr"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/comments?post=445"}],"version-history":[{"count":0,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/posts\/445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media\/15869"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/media?parent=445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/categories?post=445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/wp-json\/wp\/v2\/tags?post=445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}