Venezuela is taking its fight over a $1.4 billion arbitral award to the District of Columbia’s federal court of appeals.
The ICSID tribunal in Eskosol in liquidazione v. Italy rejected Italy’s Rule 41.5 application to have the claim thrown out for being “manifestly without legal merit.” I offer a summary and some reflections on two interesting aspects on the tribunal’s jurisdiction.
Yukos will hardly appeal against the Belgian court’s ruling, the lawyer of the Russian Federation Niuscha Bassiri said.
Spain has lost its first international arbitration process over cuts to renewable energy subsidies
The dispute is based on the Energy Charter Treaty (ECT) and was initiated by Moldovan businessman Anatole Stati, his son Gabriel Stati and two companies owned by them.
The Russian Federation claimed that arbitrator Yves Fortier’s assistant turned into a Fourth Man, a covert extra arbitrator who conceived and drafted a large part of the award.
Rockhopper Exploration is fighting for compensation from Italy after it banned offshore drilling, leaving the company unable to develop one of its oil and gas fields.
The latest award on jurisdiction conflicts with the ruling of a Dutch court which overturned an earlier award of US$50 billion in favour of the former majority shareholders of Yukos.
SCC is a preferred venue for investment arbitrations. Over the past 20 years, the SCC has administered and acted as appointing authority in more than 90 investment arbitrations, both in small-sized and in large-scale disputes.
The Svea Court of Appeal rejected the Republic of Kazakhstan’s request to declare invalid or set aside the arbitral award in Stati v Kazakhstan. The judgment cannot be appealed.
Croatia has lodged a request with the Federal Supreme Court of Switzerland for the annulment of an arbitral award in the case INA-MOL
Poland is clearly sceptical regarding investment protection granted by BITs containing an ISDS system in a current form.
The Hague Court of Appeal has rejected a plea to bifurcate hearings on a complaint by the former shareholders of Russia’s now-defunct Yukos oil firm
Croatia’s government said it will appeal the ruling of the Arbitral Tribunal which dismissed Croatia’s claims against Hungary’s MOL in a case concerning Croatian oil and gas company INA
Unfavourable arbitration ruling means that Croatia will have to cover most of the costs.
Central to the general public’s opposition to ISDS is the concept of legitimate expectations.
Yukos former shareholders are trying to dispute the decision of the Hague District Court.
In the landscape of international investment arbitration the allegations of corruption have become more and more common.
This dispute and final judgment provide some valuable lessons for the arbitral tribunal in the ECT Vattenfall dispute.
Germany’s highest court has ruled in favor of three power companies in a dispute over a government decision to phase out nuclear energy. Vattenfall is also suing at the International Center for Settlement of Investment Disputes (ICSID).