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UK nationalisation: The law and the cost
UK investors could seek to move their investments to jurisdiction such as Singapore and Hong Kong where they can take advantage of investment treaty protection, if a potential new Labour govenment were to nationalise public services.
Cairn Energy’s retro tax arbitration award delayed
Cairn Energy said it expects the long-running arbitration process against the Indian authorities over retrospective taxation to be concluded before late 2019.
Venezuela must pay Conoco over $8 billion: World Bank
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the country’s late socialist leader Hugo Chavez, the World Bank ruled.
Russia refutes Hague Court ruling on Naftogaz assets in Crimea - Justice Ministry
Russia refuses to recognize the decision by the Hague arbitration court on Ukraine’s Naftogaz claims over allegedly lost assets in Crimea as the court does not have any legal authority to settle such cases, the Russian Justice Ministry said.
Shell put Nigeria under pressure with ISDS process to obtain oil field OPL 245
Shell used the investment agreement between the Netherlands and Nigeria to obtain a lucrative oil field at remarkably good conditions.
Chevron Vs Ecuador: international arbitration & impunity (ISDS case)
In February of 2011 the Ecuadorian Courts delivered an historic verdict, sentencing the Big Oil Corporation Chevron to pay US$9,500 million dollars for its contamination of the Ecuadorian Amazon (1964-1992). However, Chevron hit back via the Investor-State Dispute Settlement system and sued Ecuador.
UFG denies reaching settlement agreement with Egypt
The Spanish Union Fenosa Gas (UFG) denies media reports that any settlement has been reached with Egypt in regard to the $2 billion dispute about the gas supply to the Damietta Liquefied Natural Gas plant.
China-backed coal projects raise heat in Pakistan
China-backed coal plants are raising environmental concerns locally.
Turkish RPP ship: Pakistan breathes $900mn sigh of relief
Pakistan said to have gathered fresh ‘evidence of corruption’ in the procurement of a rental power project (RPP) contract by the Turkish company.
Croatia waiting for ICSID ruling in case brought by Hungary’s MOL
Arbitration proceedings which the Hungarian energy group MOL has launched against Croatia before the ICSID in Washington are still ongoing and a ruling is pending, and Croatia has contested the jurisdiction of the arbitration tribunal.
Karkey case posing ”attachment” threat to assets abroad: Cabinet meets today
The federal cabinet is expected to approve supplementary grant of $ 1.37 million on to contest cases filed by M/s Karkey in courts of different countries as Pakistan’s assets abroad are facing "attachment" threat.
Ukraine: Enforceability of emergency arbitral awards (JKX Oil & Gas PLC v. Ukraine)
The Ukrainian Supreme Court refused recognition and enforcement of the emergency award in Ukraine, based on the grounds that enforcement of the emergency award would be contrary to the public policy of Ukraine
Government negotiations to bring down Egypt’s $2bn fine for Unión Fenosa
Compensation of partners to stop pumping of gas to Damietta LNG Plant with part of revenue.
MOL unexpectedly withdraws lawsuit against Croatia in INA case
Many see the withdrawal of the lawsuit as a tactical move whereby MOL wants to additionally strengthen its position in ongoing arbitration proceedings it launched in Washington in 2013.
Intra-EU ECT claims post-Achmea: Vattenfall decision paves the way
Tribunals still grappling with the intra-EU question, especially those in ECT cases, are certain to pay great attention to the carefully crafted Vattenfall decision. Its reasoning may well serve as a blueprint for further decisions and awards in similar cases.
The case of Ampal v Egypt: What are the parameters of the due diligence standard?
A reasonable ICSID Tribunal would have followed the paths of previous arbitral decisions in determining the liability of a host state under the Full Protection and Security obligation, the Ampal Tribunal did not.
US coal firm launches NAFTA suit against Alberta over coal phase-out
A US coal miner is launching a NAFTA suit against Alberta over its policy to phase out coal in the electricity system by 2030.
Arbitration against the Kingdom of Spain: final award
The net award for Athena Investments amounts to approx. EUR 11M.
Romania wins trial at ICSID Washington against energy trader Alpiq
The Romanian government has won a trial at World Bank’s International Centre for Settlement of Investment Disputes against the Swiss-based energy trader Alpiq in a case related to Hidroelectrica insolvency procedure.
Malaysian renewable energy investor initiates ICSID arbitration against Sri Lanka
KLS Energy Lanka, the local subsidiary of Malaysian renewable energy producer Energy Sdn Bhd of Malaysia has initiated ICSID arbitration under the Sri Lanka-Malaysia BIT