Awards

ICSID tribunal awards roughly USD380 million in compensation for illegal expropriation by Ecuador

Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5

Ecuador awarded USD41 million in counterclaim against U.S. oil and gas company Burlington Resources

Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5

Highly anticipated NAFTA award rejects patent law–related claim against Canada

Eli Lilly and Company v. The Government of Canada, UNCITRAL, ICSID Case No. UNCT/14/2

SCC tribunal dismisses claims brought by British company and its shareholders against the Czech Republic

Anglia Auto Accessories Ltd. v. Czech Republic (SCC Case No. V 2014/181) and Ivan Peter Busta and James Peter Busta v. Czech Republic (SCC Case No. V 2015/014)

ICSID tribunal dismisses the second known case against China in a summary proceeding

Ansung Housing Co., Ltd. v. People’s Republic of China, ICSID Case No. ARB/14/25

ICSID tribunal finds Egypt in breach of several provisions of the U.S.–Egypt BIT

Ansung Housing Co., Ltd. v. People’s Republic of China, ICSID Case No. ARB/14/25

Claims by a Spanish investor declared inadmissible in a case against Costa Rica

Supervisión y Control S.A. v. Republic of Costa Rica, ICSID Case No. ARB/12/4

Resubmission tribunal puts an end to a 20-year dispute before ICSID

Victor Pey Casado and Foundation Presidente Allende v. The Republic of Chile, ICSID Case No. ARB/98/2

ICSID tribunal dismisses claims brought against Indonesia based on forged mining licences

Churchill Mining PLC and Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ICSID Case No. ARB/12/40  After rendering separate decisions on jurisdiction—one for the case brought by British company Churchill Mining PLC under the United Kingdom–Indonesia bilateral investment treaty (BIT), and another for Australian company Planet Mining Pty. Ltd.’s case under […]

Renco failed to comply with formal waiver requirement under U.S.–Peru Trade Promotion Agreement

Renco Group Inc. v Republic of Peru, UNCT/13/1 An arbitral tribunal under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) declared that U.S.-based investor Renco Group Inc. (Renco) failed to comply with the waiver requirement under the United States–Peru Trade Promotion Agreement (TPA). Accordingly, the tribunal declined to exercise jurisdiction […]

Pac Rim v. El Salvador: all claims dismissed; OceanaGold to pay US$8 million in costs

Pac Rim Cayman LLC v. Republic of El Salvador, ICSID Case No. ARB/09/12 On October 14, 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) dismissed on their merits all claims by Pac Rim Cayman LLC (Pac Rim) against El Salvador. The tribunal ordered the mining company—currently owned by Australian-Canadian OceanaGold—to […]

NAFTA tribunal orders Canada to pay U.S. wind power developer more than CAD28 million

Windstream Energy LLC v. Government of Canada, PCA Case No. 2013-22  An arbitral tribunal under Chapter 11 of the North American Free Trade Agreement (NAFTA) has reached the award stage. Although dismissing the discrimination and indirect expropriation claims, the tribunal upheld the claim of failure to provide fair and equitable treatment (FET), and ordered Canada […]

PCA tribunal dismisses expropriation and FET claims concerning an eco-touristic venture 

Peter A. Allard v. The Government of Barbados, PCA Case No. 2012-06 On June 27, 2016, a tribunal under the auspices of the Permanent Court of Arbitration (PCA) dismissed all claims by Canadian businessman Peter A. Allard against Barbados under the Canada–Barbados bilateral investment treaty (BIT) and the Arbitration Rules of the United Nations Commission […]

Venezuela to pay US$1 billion for expropriating Canadian mining company’s investment

Rusoro Mining Ltd. v. the Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/12/5 – Claudia María Arietti López

ICSID tribunal dismisses MFN clause in WTO GATS as a means of importing Senegal’s consent to arbitration from third party BIT

Menzies Middle East and Africa S.A. and Aviation Handling Services International Ltd. v.
 Republic of Senegal, ICSID Case No. ARB/15/21- Suzy H. Nikièma

PCA tribunal deemed acts of Polish agricultural property agency not attributable to Poland 

Mr. Kristian Almås and Mr. Geir Almås v. The Republic of Poland, PCA Case No. 2015-13 – Claudia María Arietti López

Claimant not considered investor due to interpretation of “seat” under Cyprus–Montenegro BIT

CEAC Holdings Limited v Montenegro, ICSID Case No. ARB(AF)/14/8 – Maria Florencia Sarmiento

Ecuador’s levy on extraordinary oil profits at a 99% rate has breached Murphy’s legitimate expectations, decides PCA tribunal

Murphy Exploration & Production Company – International v. Republic of Ecuador, PCA Case No. 2012-16 (formerly AA 434) – Inaê Siqueira de Oliveira

Ecuador ordered by PCA tribunal to pay $24 million to Canadian mining company

Copper Mesa Mining Corporation v. Republic of Ecuador, PCA No. 2012-2 – Matthew Levine

Awards and Decisions

The long-expected final award has been rendered in the high-profile case initiated by tobacco giant Philip Morris in early 2010 against Uruguay over its tobacco control measures.

Philip Morris v. Uruguay: all claims dismissed; Uruguay to receive US$7 million reimbursement

Philip Morris Brands Sàrl, Philip Morris Products S.A. and Abal Hermanos S.A. v. Oriental Republic of Uruguay, ICSID Case No. ARB/10/7

Corporate restructuring and abuse of rights: PCA tribunal deems Philip Morris’s claims against Australia’s tobacco plain packaging rules inadmissible 

Philip Morris Asia Limited v. The Commonwealth of Australia, PCA Case No. 2012-12

ICSID tribunal upholds Panama’s abuse of process objection; Transglobal to pay arbitration costs and most of Panama’s legal expenses

In the proceeding brought by Transglobal Green Energy, LLC (a U.S.-based company) and Transglobal Green Panama S.A. (a Panama-based company) against Panama under the United States–Panama bilateral investment treaty (BIT), an ICSID tribunal accepted Panama’s abuse of process objection.

Claimant fails to comply with three-year limitation period under CAFTA-DR

A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) declared that it lacked jurisdiction in the case of Corona Materials LLC (a U.S. company) against the Dominican Republic.

Venezuela ordered to pay US$1.202 billion plus interest to Canadian mining company Crystallex for FET breach and expropriation

In a 273-page award dated April 4, 2016, a tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) ordered Venezuela to pay US$1.202 billion plus interest to Canadian company Crystallex International Corporation (Crystallex).

NAFTA tribunal dismisses claims against Canada on green energy Feed-In Tariff program

An arbitration tribunal constituted under the North American Free Trade Agreement (NAFTA) has issued its award subject to a dissenting opinion.

Turkey–Turkmenistan BIT: tribunal finds claims admissible but dismisses them on merits

An arbitral tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has issued its award on the claims by a Turkish company against Turkmenistan.

ICSID tribunal awards damages for Venezuela’s indirect expropriation of steel industry investment 

Tenaris S.A. and Talta-Trading e Marketing Sociedade Unipessoal LDA v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/26

The first ICSID case against Guinea is dismissed for lack of jurisdiction 

In a decision dated December 21, 2015, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ruled that it lacked jurisdiction to hear a case brought by Société civile immobilière de Gaëta (Gaëta) against Guinea under the Guinean Investment Code.

Slovenia is condemned to pay €20 million in damages and US$10 million in costs to Croatian national electric company

An award rendered on December 17, 2015 by an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) added a new—and apparently final—chapter to a nearly 20-year-old conflict between the governments of Croatia and Slovenia over the supply of electricity generated by the Krško Nuclear Power Plant (Krško NPP), located in Slovenia.

The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds

A majority tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) dismissed the case of Spanish construction company Grupo Francisco Hernando Contreras, S.L. (Contreras Group) against Equatorial Guinea, in an award dated December 4, 2015.

ICSID tribunal orders Zimbabwe to return expropriated farms

In a 318-page award issued July 28, 2015 but only published February 2016, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ordered Zimbabwe to return farms it seized without compensation in 2005.

Quiborax awarded US$50 million against Bolivia, one-third of initial claim

Quiborax S.A. and Non-Metallic Minerals S.A. v. Plurinational State of Bolivia (ICSID Case No. ARB/06/2)

ICSID tribunal dismisses final claim for compensation in relation to Hungary’s 2008 termination of power purchase agreement

Electrabel S.A. v. Republic of Hungary, ICSID Case No. ARB/07/1

Tribunal dismisses all claims by U.S. mining investor against Oman

Adel A. Hamadi Al Tamimi v. Sultanate of Oman, ICSID Case No. ARB/11/33

ICSID tribunal declines jurisdiction in case against Macedonia and orders investor to reimburse 80% of Macedonia’s legal fees and expenses

Guardian Fiduciary Trust Ltd, f/k/a Capital Conservator Savings & Loan Ltd v. Former Yugoslav Republic of Macedonia, ICSID Case No. ARB/12/31

Awards and Decisions

Perenco Ecuador Limited v. Republic of Ecuador, ICSID Case No. ARB/08/6

Ping An Life Insurance Company of China, Limited and Ping An Insurance (Group) Company of China, Limited v. Kingdom of Belgium, ICSID Case No. ARB/12/29

Suez, Sociedad General de Aguas de Barcelona S.A., and InterAguas Servicios Integrales del Agua S.A. v. The Argentine Republic, ICSID Case No. ARB/03/17; and AWG Group Ltd. v. The Argentine Republic, UNCITRAL

State Enterprise “Energorynok” (Ukraine) v. The Republic of Moldova, SCC Arbitration V (2012/175)

ICSID tribunal renders interim decision on Ecuador’s environmental counterclaim in long-running dispute

Perenco Ecuador Limited v. Republic of Ecuador, ICSID Case No. ARB/08/6

First ICSID case brought by Chinese mainland investors dismissed on jurisdictional grounds

Ping An Life Insurance Company of China, Limited and Ping An Insurance (Group) Company of China, Limited v. Kingdom of Belgium, ICSID Case No. ARB/12/29

Tribunal largely adopts independent expert’s damages findings in USD 405 million award to previous owners of an Argentine public utility company

Suez, Sociedad General de Aguas de Barcelona S.A., and InterAguas Servicios Integrales del Agua S.A. v. The Argentine Republic, ICSID Case No. ARB/03/17; and AWG Group Ltd. v. The Argentine Republic, UNCITRAL

Energorynok had no ownership or control over energy-related economic activity; ECT case against Moldova dismissed

State Enterprise “Energorynok” (Ukraine) v. The Republic of Moldova, SCC Arbitration V (2012/175)

Awards and Decisions

PNG Sustainable Development Program Ltd. v. Estado Independiente de Papúa Nueva Guinea, Caso CIADI No. ARB/13/33

Poštová Banka, a.s. e Istrokapital SE v. República Helénica, Caso CIADI No. ARB/13/8

Venoklim Holding B.V. v. República Bolivariana de Venezuela, Caso CIADI No. ARB/12/22

Mamidoil Jetoil Greek Petroleum Products Societe S.A. v. República de Albania, Caso CIADI No. ARB/11/24

Khan Resources Inc., Khan Resources B.V. y CAUC Holding Company Ltd. v. Gobierno de Mongolia y MonAtom LLC, Caso PCA No. 2011-09

Unanimous ICSID tribunal dismisses expropriation claim due to Papua New Guinea’s lack of written consent to arbitrate

PNG Sustainable Development Program Ltd. v. Independent State of Papua New Guinea, ICSID Case No. ARB/13/33

Government bonds not covered, despite broad definition of “investment” in Slovakia–Greece BIT; tribunal dismisses claims against Greece

Poštová Banka, a.s. and Istrokapital SE v. The Hellenic Republic, ICSID Case No. ARB/13/8

Looking to Venezuela’s Investment Law, majority finds that Venoklim was not a foreign investor and dismisses case against Venezuela; claimant-appointed arbitrator dissents

Venoklim Holding B.V. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/12/22

Majority of ICSID tribunal finds no fair and equitable treatment violation by Albania in petroleum dispute

Mamidoil Jetoil Greek Petroleum Products Societe S.A. v. The Republic of Albania, ICSID Case No. ARB/11/24

Tribunal found Mongolia liable for unlawful expropriation and awarded more than US$80 million in damages

Khan Resources Inc., Khan Resources B.V. and CAUC Holding Company Ltd. v. The Government of Mongolia and MonAtom LLC, PCA Case No. 2011-09

UNCITRAL tribunal finds Canada’s environmental assessment breached international minimum standard of treatment and national treatment standard

William Ralph Clayton, William Richard Clayton, Douglas Clayton, Daniel Clayton and Bilcon of Delaware Inc. v. Government of Canada, UNCITRAL

ICSID tribunal finds Venezuela’s 2009 seizure to be lawful expropriation and awards US$46.4 million in compensation

Tidewater Investment SRL & Tidewater Caribe, C.A. v. The Bolivarian Republic of Venezuela, ICSID Case No ARB/10/5

Venezuela ordered to pay for unlawful expropriation of Owens-Illinois investments

OI European Group B.V. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/25