Investment Treaty News (ITN), Volume 10, Issue 5, December 2019

Investment Treaty News (ITN) is IISD’s flagship journal on international investment law and policy.

Featured articles:

• UNCTAD's 2019 High-level IIA Conference: A new momentum for Phase 2 Reform, by Elisabeth Tuerk and Diana Rosert
• Business and Human Rights Treaty Negotiation Sees a Light at the End of the Tunnel, by Joe Zhang
• What to Expect in the January 2020 Session of UNCITRAL Working Group III on ISDS Reform, by Nathalie Bernasconi-Osterwalder and Lise Johnson

Summaries and analysis of recent arbitration awards and decisions:

• Substantial damages awarded to Perenco for FET breach and expropriation; Ecuador also awarded compensation under environmental counterclaim (Perenco Ecuador Limited v. Republic of Ecuador, ICSID Case No. ARB/08/6), by Matthew Levine
• Dominant and effective nationality objection prevails in CAFTA-DR arbitration (Michael Ballantine and Lisa Ballantine v. The Dominican Republic, PCA Case No. 2016-17), by Juan Carlos Herrera-Quenguan
• All claims dismissed by ICSID tribunal in energy investor's ECT case against Italy (Belenergia S.A. v. Italian Republic, ICSID Case No. ARB/15/40), by Trishna Menon
• Colombia is ordered to pay over USD 19 million for frustrating Glencore’s legitimate expectations (Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia, ICSID Case No. ARB/16/6), by Sofia de Murard
• As claimants lacked a protected investment and could not import consent to arbitration via MFN, UNCITRAL tribunal dismisses case against Mauritius on jurisdictional grounds (Professor Christian Doutremepuich and Antoine Doutremepuich v. Republic of Mauritius, PCA Case No. 2018-37), by Pietro Benedetti Teixeira Webber
• Laos prevails in defending its first known treaty-based ISDS cases (Lao Holdings N.V. v. Lao People's Democratic Republic, ICSID Case No. ARB(AF)/12/6, and Sanum Investments Limited v. Lao People's Democratic Republic, UNCITRAL, PCA Case No. 2013-13), by Joe Zhang
• Tribunal finds Pakistan breached FET, expropriation and non-impairment obligations in the context of a mining joint venture with Australian investor Tethyan Copper Company (Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan, ICSID Case No. ARB/12/1), by Sofia De Murard
• In yet another renewable energy case, Spain held liable for FET breach for frustrating French and Luxembourger investors’ legitimate expectations under the ECT (Cube Infrastructure Fund SICAV and Others v. The Kingdom of Spain, ICSID Case No. ARB/15/20), by Maria Bisila Torao
• Despite a win for Estonia, ICSID arbitrators continue to resist CJEU’s Achmea judgment (United Utilities (Tallinn) BV and Aktsiaselts Tallinna Vesi v. Republic of Estonia, ICSID Case No. ARB/14/24), by Theodore M. Amarendra

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