Argentina and Japan are moving ahead with a bilateral investment treaty.
The case is one of several brought to courts in Europe by Moldovan businessman Anatolie Stati who is attempting to force the Kazakh government to pay up in a dispute about his energy investments in the oil-rich country.
How can the Goverment risk billions of dalasis in arbitration costs, once more, with Africa Petroleum? What money will pay for this trial?
Decision comes six years after supplies were halted, forcing EMG shareholder Ampal into bankruptcy.
Frozen assets secure a US$520 million award against Republic of Kazakhstan.
Economic corridors have hardly been as controversial as China’s Belt and Road initiative (BRI). It could have avoided controversies if it had proceeded in a consultative fashion like multi-country cross-border corridors.
The EC claimed intra-EU investment treaty arbitration is in breach of EU law. If the CJEU were to confirm the decision of the EC, the application of the ICSID Convention within the EU would be seriously endangered.
Stockholm District Court issued a judgment clearing the way for the Stati parties to collect the US$520 million arbitration award against the Republic of Kazakhstan.
Cairn commenced international arbitration proceedings against India under the UK—India Bilateral Investment Treaty in 2015.
The assets held by the fund’s custodian were frozen last October after a lawsuit by Moldovan businessman Anatolie Stati who seeks to enforce a $500 million arbitration ruling against the Astana government.
Latvia must compensate E-energija EUR 3.7 million for investment abuse in the district heating business.
Pakistan and Saudi Arabia have accelerated negotiations on a bilateral investment treaty.
Le forum offre l’opportunité aux deux pays de réaffirmer leur liens dans le domaine du commerce et de l’investissement.
Last week, Turkey and Somalia signed economic partnership agreement.The countries also came to an understanding on fishing and fisheries. Under this, Turkish fishermen will be able to fish in Somalia’s territorial waters.
The French oil company Total evicts people from their land in Uganda to make room for an oil processing facility.
The US oil industry has benefitted from the free trade pact with Canada and Mexico, and an industry representative urged the Trump administration to keep the deal intact.
Moldovan businessman Anatolie Stati will ask bailiffs to sell a $5.2 billion stake in the Kashagan oil field owned by a Kazakh sovereign wealth fund if Astana refuses to pay a $500 million arbitration award.
The Dutch court held that Kazakhstan is and will remain the sole shareholder of Samruk and that Samruk’s board is controlled by Kazakhstan.
The recent Eiser v. Spain ICSID award is yet another example of a state being condemned to pay a large monetary sum merely because an investor has been economically disadvantaged by a reasonable and necessary regulatory change.
Shell used an arbitration case it filed with the International Centre for the Settlement of International Disputes to railroad the government into brokering truce between it and Malabu Oil and Gas Ltd, its estranged erstwhile partner and the original licensee.