Awards

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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

Tribunal holds Romania in breach of Fair and Equitable Treatment

Hassan Awdi, Enterprise Business Consultants, Inc. and Alpha El Corporation v. Romania, ICSID Case No. ARB/10/13

Tribunal finds an abuse of process in claimants’ corporate restructuring; Peru recoups costs

Renée Rose Levy and Gremcitel S.A. v. Republic of Peru, ICSID Case No. ARB/11/17

UNCITRAL tribunal finds denial of justice by Indonesian courts, but denies claimant damages due to unclean hands

Hesham T. M. Al Warraq v. Republic of Indonesia, UNCITRAL

After claimant’s notice of withdrawal, the Czech Republic obtains an award of costs

Forminster Enterprises Limited (Cyprus) v. the Czech Republic, UNCITRAL

German investor’s claim against the Philippines over Manila airport concession fails for the second time at ICSID

Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines, ICSID Case No. ARB/11/12

Tribunal orders compensation in Dutch farmers’ claims against Zimbabwe

By Damon Vis-Dunbar 28 April 2009 An ICSID tribunal has ordered the government of Zimbabwe to compensate a group of Dutch nationals who saw their farms expropriated under Zimbabwe’s controversial land-reform program. The victory is expected to lead other European nationals who lost farms in Zimbabwe to seek compensation under bilateral investment treaties. The thirteen […]

ICSID tribunal dismisses RSM Production Corporation’s claim against Grenada

By Damon Vis-Dunbar 26 March 2009 An American businessman has failed in his claim against Grenada under a 1996 oil and gas agreement, in a contract dispute conducted before an ICSID tribunal. Initiated in 2005, the ICSID claim was one of a host of legal avenues pursued by Jack J. Grynberg, the president and CEO […]

Tribunal rebuffs defense of necessity in recently published award: National Grid p.l.c. v. Argentine Republic

By Elizabeth Whitsitt 2 March 2009 In a recently published award, a tribunal convened pursuant to a request for arbitration under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL) found the Argentine Republic liable to the British firm National Grid p.l.c. for damages totaling more than US$53 million. The dispute, […]

Awards  |  January 5, 2009

Tribunal rejects Ecuador’s jurisdictional objections in dispute with Chevron

By Fernando Cabrera Diaz 5 January 2009 A tribunal has determined that it holds jurisdiction to hear a claim brought by Chevron Corporation against Ecuador for alleged violations of the Ecuador-United States bilateral investment treaty (BIT). Chevron claims that Ecuador violated the BIT by failing to deal fairly with multiple breach-of-contract cases filed against the […]

Awards  |  January 5, 2009

German firm fails to pass jurisdictional hurdle in claim against Argentina; decision provokes questions about the scope and applicability of MFN Protection

By Elizabeth Whitsitt 5 January 2009 An ICSID tribunal has declined jurisdiction in a claim brought by a German firm against the government of Argentina, in a decision that marks the unpredictability over whether a claimant can invoke a Most-Favoured-Nation (MFN) clause to access an expedited arbitration process. The claimant, Wintershall Aktiengesellschaft, alleged that the […]

Awards  |  December 23, 2008

Peru wins dispute with American energy firm over the scope of a stabilization agreement

By Fernando Cabrera Diaz 23 December 2008 The Republic of Peru has defended itself successfully against a claim initiated by Delaware-based Aguaytia Energy LLC (AEL). AEL had sought US$142 million as compensation for what it claimed was Peru’s violation of a stabilization agreement. However, the Tribunal disagreed and instead held that the stability agreement did […]

Awards  |  December 18, 2008

Award: Aguaytia Energy, LLC v. Republic of Peru

Award: Aguaytia Energy, LLC v. Republic of Peru (ICSID Case No. ARB/06/13)

Awards  |  November 28, 2008

Algeria prevails in dispute with Italian construction firms

By Suzy H. Nikiéma 28 November 2008 In a 12 November 2008 final award, an ICSID tribunal has dismissed all claims by two Italian investors, L.E.S.I S.p.A. and ASTALI S.p.A, in a dispute with the government of Algeria over a failed contract to construct a hydraulic dam. While the contract with the National Agency for […]

Awards  |  November 17, 2008

Belgium dredging companies fail in arbitration against Egypt

By Damon Vis-Dunbar 17 November 2008 The Egyptian government has deflected a US$ 80 million dollar claim by two companies hired to dredge the Suez Canal. Jan de Nul N.V. and Dredging International, both incorporated in Belgium, won a bid to dredge sections of the Suez Canal 1992, a job they completed some three years […]

Awards  |  October 13, 2008

Award is publicly released in failed Energy Charter Treaty claim against the Ukraine

By Damon Vis-Dunbar13 October 2008 Details of an arbitration involving a Latvian investor and the government of the Ukraine have emerged following the public release of the tribunal’s final award, some seven months after the decision was rendered. The Ukraine has been absolved of charges that it had breached the Energy Charter Treaty (ECT), a […]

Awards  |  October 6, 2008

Award: AMTO v. Ukraine

Award: Limited Liability Company AMTO (Claimant) and Ukraine, Arbitration Institute of the Stockholm Chamber of Commerce, Arbitration no. 080/2005

Awards  |  September 30, 2008

Plama Consortium Limited v. Republic of Bulgaria: Honesty is the best policy

By Elizabeth Whitsitt 30 September 2008 In a 27 August 2008 decision, a tribunal has concluded that Plama Consortium Limited (PCL), a Cyprus firm, was not entitled to protections afforded under the Energy Charter Treaty (ECT), given that it had fraudulently misrepresented itself when it invested in a privatized refinery, Nova Plama AD. In addition, […]

Awards  |  September 22, 2008

Occidental Petroleum Corporation and Occidental Exploration and Production Company v. the Republic of Ecuador: US oil company passes jurisdictional hurdle in arbitration with Ecuador

By Damon Vis-Dunbar 22 September 2008 A tribunal has accepted jurisdiction in a dispute that pits two petroleum companies against the Government of Ecuador, allowing the case to proceed to the merits stage. The two claimants, Occidental Petroleum Company (OPC) and Occidental Exploration and Production Company (OEPC), are seeking more than US$ 3 billion after […]

Awards  |  September 10, 2008

Continental Casualty Company v. the Argentine Republic: Argentina emerges largely victorious in dispute related to country’s financial crisis

By Damon Vis-Dunbar September 10, 2008 In an award rendered on September 5, 2008, an arbitral tribunal has dismissed all but one of the claims brought by an American investor, Continental Casualty, against the government of Argentina. Argentina was found liable for damages of US$ 2.8 million plus interest: a fraction of the US$ 112 […]

Awards  |  September 8, 2008

Award: Continental Casualty Company v. Argentine Republic

Award issued on September 5, 2008: Continental Casualty Company v. Argentine Republic   (ICSID Case No. ARB/03/9)

Awards  |  August 29, 2008

Duke Energy International Peru Investments No. 1 Ltd. v. Republic of Peru: Foreign investors in Peru are guaranteed tax stability

By Elizabeth Whitsitt 29 August 2008 In one of two ICSID awards handed down in August involving the US firm Duke Energy, a Tribunal has found the Republic of Peru liable to Duke Energy International Peru Investments No. 1 Ltd. (DEI Bermuda) for damages totaling US$ 18,440,746 plus interest after the SUNAT, Peru’s National Tax […]

Awards  |  August 29, 2008

Duke Energy Electroquil Partners and Electroquil SA v Ecuador: Ecuador found liable for breaches of power purchase agreements and investment treaty

By Damon Vis-Dunbar 29 August 2008 The electricity provider Electroquil SA has been awarded US$ 5,578,566 plus interest stemming from several breaches of power purchase agreements (PPAs) backed by the government of Ecuador. While Ecuador was also found to have breached the Ecuador-US bilateral investment treaty, those violations did not result in additional monetary damages. […]