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Singapore breaks new ground as arbitration hub
The International Centre for Settlement of Investment Disputes hears its first case outside of US, France
First hearing opens over Lone Star asset sell-offs in Korea
An international tribunal began hearing a multi-billion dollar case Friday that the US private equity firm Lone Star filed against South Korea’s government over tax and other disputes surrounding its asset sell-offs in Korea.
Transparency in investor-state arbitration
The UN Convention on Transparency in Treaty-Based Investor-State Arbitration has been opened for signature.
Socialising losses, privatising gains: How Dutch investment treaties harm the public interest
This paper shows how (the threat of) lawsuits taken to the International Centre for Settlement of Investment Disputes and other fora, using Dutch BITs, have effectively blocked policymaking in the public interest for development in host countries.
PNG govt ordered to stop interfering in SDP
The International Centre for Settlement of Investment Disputes has ordered Papua New Guinea’s government to stop interfering in the management of PNG Sustainable Development Program.
Seven things you should know about EU-Singapore ISDS
Lock-in, no institutional safeguards for independence, perverse incentives, no separation of powers, automatic consent, ripe for exploitation, sovereign debt instruments included, open to the world, and a strategic mistake. Former trade commissioner De Gucht left us a Gordian Knot, writes Ante Wessels.
ICSID annulment committees: the elephant in the room
The title of this article refers to a looming issue that is not receiving the attention it deserves: the unbalanced and extraordinary power that the secretary-general of ICSID holds in practice in relation to annulment proceedings at the centre.
ConocoPhillips files for arbitration against PDVSA for contractual compensation
ConocoPhillips announced Friday that it has filed for arbitration under the rules of the International Chamber of Commerce or ICC against Petroleos de Venezuela or PDVSA, the Venezuela state oil company, for contractual compensation related to the Petrozuata and Hamaca heavy crude oil projects.
Gold Reserve says awarded $740.3 mln in Venezuela Brisas arbitration
The International Centre for Settlement of Investment Disputes (ICSID) determined Venezuela must pay US-based miner Gold Reserve $740.3 million for terminating its Las Brisas gold concession, the company said on Monday.
A call for the building of an alternative legal framework to the international investment treaties
This document seeks to incorporate proposals that have for some time been in the process of elaboration by actors from civil society, social movements, academics, and legal experts.
Uruguay’s smoking laws draw tobacco fire
While Uruguay has been celebrated by liberals around the world for its bold steps to regulate cannabis, with new rules taking effect this week, its similarly pioneering attempts to control smoking of another, legal plant – tobacco – has earned it powerful enemies.
Pak moves int’l forum against Turkish power firm
The Ministry of Water and Power has approached the Washington-based International Centre for Settlement of Investment Disputes (ICSID) and challenged the jurisdiction of a tribunal which has been hearing a damage suit worth $334 million sought by a Turkish power firm, Karkey Karadeniz Elektrik Uretim (KKEU), against Pakistan.
World Bank tribunal threatens El Salvador’s development
Last week more than 300 international and national civil society organizations wrote to the president of the World Bank, Jim Yong Kim, during its biannual meeting in Washington, denouncing the bank’s involvement in the case of Pac Rim Cayman LLC v. El Salvador.
Indonesia should withdraw from the ICSID!
If there is dispute against the government, investors, be they foreign or local, they should bring their cases to the Indonesian judiciary or other available national dispute mechanisms.
World Bank’s ICSID rejects Venezuela "appeal" over ConocoPhillips expropriation
In a 2-1 decision, the World Bank’s arbitration panel has rejected Venezuela’s request for "reconsideration" of its September 2013 finding that it had jurisdiction and that Venezuela was liable for the expropriation of ConocoPhillips’ investments in the Latin American nation.
East Kutai may file criminal charges against Churchill
The local administration in East Kutai regency, East Kalimantan, has threatened to file criminal charges against British company Churchill Mining Plc for allegedly forging its mining permits to operate mine areas in the regency.
Turkish firm’’s claim: government seeks 20 days to file reply
Pakistan has sought a 20-day extension to file its reply to the International Centre for Settlement of Investment Disputes (ICSID) against a damage claim of $2.1 billion filed by Turkish firm M/s Karkey Karadeniz Elektrik Uretim. The sources said Pakistan had to submit its reply to the international body by February 28, 2014 but it was delayed due to a change in legal firm.
In for messy litigation
Several local newspapers misread the recent decision by the Washington-based International Center for Settlement of Investment Disputes (ICSID) as a verdict forcing the Indonesian government to pay over US$1 billion in compensation to the plaintiff, London-listed Churchill Mining Plc, in regard to its coal mining concessions in East Kalimantan.
Karkey files another $2.1b damages claim against Pakistan
Karkey Karadeniz Electricity Production Corporation (Karkey) has filed a memorial to the World Bank’s International Centre for Investment Disputes (ICSID) claiming $2.1 billion damages against government of Pakistan.
Smart move: Argentina to leave the ICSID
Given the substantial problems with the current ICSID framework and the large number of cases currently pending against Argentina, denouncing the SID Convention and leaving the ICSID is the best course for the country.