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Luxembourg


Lux blocks Mercosur trade deal over Amazon fires
Luxembourg has joined a small number of countries to oppose signing of the Mercosur agreement in a bid to curb massive burning of the Amazon rainforest.
Luxembourg fund awarded EUR 53.3 million for FET breach arising out of Spain’s curtailment of renewable energy incentive schemes
An arbitration tribunal found that Spain’s electricity reforms breached its obligation to accord to the investor fair and equitable treatment under the Energy Charter Treaty
The English court sets aside a Tribunal’s findings of lack of jurisdiction under a BIT
The English High Court has set aside parts of an award concerning claims brought by Griffin against Poland; Poland has reserved the right to argue the compatibility of the BIT with EU law.
Spain to pay compensation to renewables investors
In a second international ruling against retroactive cuts in renewables support introduced by the Spanish government in 2013, a Swedish arbitration panel has awarded a Luxembourg-based investment firm €53 million compensation.
Spain meets the ICSID grand inquisitor: the Eiser case
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.
An ICSID tribunal dismisses its jurisdiction as investor abused its rights by “reviving” a company to access arbitration against Cameroon
The tribunal ruled that the investor did not have a head office in Luxembourg and had abused its rights to “give the impression that it had a Luxembourg head office”
Venezuela ordered to pay steelmaker Tenaris $162 million for takeover
A World Bank tribunal ordered Venezuela to pay steelmaker Tenaris SA $162 million for expropriating two investments in the country
Government reaches settlement with ArcelorMittal to avoid paying $600m in compensation
The settlement stipulates that the arbitration lawsuit has been annulled. ArcelorMittal filed this lawsuit against the Egyptian government 18 months ago before the ICSID.
Over 4,000 protest against TTIP & CETA in Luxembourg
More than 4,000 people gathered in Luxembourg City to protest against controversial free trade agreements CETA and TTIP.
TTIP talks should be suspended, say 40% of Luxembourg residents
Over half of Luxembourg residents believe free-trade partnerships bring more disadvantages to Europe, and 40 percent think the current TTIP negotiations should be suspended.
What’s at stake: South Korea vs Lone Star Funds
For those uninitiated in the world of international arbitration, below is the primer of the issues at play in the South Korea-Lone Star Funds arbitration.
Dim prospects for TTIP talks under Luxembourg EU presidency
The chances for a conclusion to negotiations on the Transatlantic Trade and Investment Partnership (TTIP) this year are poor, Luxembourg‘s foreign minister said in an interview with a German newspaper published Monday.
Luxembourg MEPs called upon to vote ’no’ on TTIP
A Luxembourg platform calling for plans for a US-EU trade partnership to be abandoned has urged the Grand Duchy’s MEPs to vote against the proposals put forward by the European Commission.
Luxembourg: Foreign Minister supports TTIP but “not at all cost”
Luxembourg’s Foreign Minister says that the Transatlantic Trade and Investment Partnership presents an opportunity but EU should not enter the agreement “at all cost.”
South Africa: BITs in pieces
South Africa has terminated a bilateral investment treaty with Belgium and Luxembourg in the first of a series of planned shreddings of post apartheid-era agreements which are coming up for renewal.
Lone Star is back in town, armed with the investor-state dispute system

In a May 31 press release, the US private equity fund Lone Star said it was planning to request investor state dispute (ISD) arbitration for losses suffered due to "unlawful" interference by the South Korean government.

Japan, Luxembourg to push FTA
Japan and Luxembourg agreed Tuesday to push forward the launch of negotiations on sealing a free-trade agreement between Tokyo and the 27-nation European Union, with an eye on reaching an accord during the next Japan-EU summit talks slated for late May in Brussels, officials said.
Barbados and BLEU sign investment treaty
Barbados and the Belgium-Luxembourg Economic Union (BLEU) now have a Bilateral Investment Treaty (BIT).
Italian lawsuit against SA government reinforces historical injustice
Finstone Ltd SA, a foreign mining company based in Luxembourg, is suing the South African government for an alleged expropriation of its mineral rights. Finstone is a holding company in control of three South African granite producing operations i.e. Marlin, Red Graniti and Kelgran. The real challenge posed by this legal action is that the abovementioned investors find the black economic empowerment programme is in violation of the bilateral treaties signed with South Africa by both Luxembourg and Italy.
South Africa: Govt faces first expropriation suit
A foreign mining company is suing the South African government over alleged expropriation of its mineral rights in a move that has huge implications for the country’s new mining dispensation.