By Damon Vis-Dunbar 23 December 2008 Argentina has refused calls by Siemens to suspend proceedings at the International Centre for the Settlement of Investment Disputes (ICSID) in which a committee is considering Argentina’s request to revise a 2007 award, following the admission that the firm's...
By Fernando Cabrera Diaz 9 December 2008 On 1-2 December Investment Treaty News attended a two-day seminar on international arbitration in Quito, Ecuador, hosted by Ecuador’s Attorney General’s Office. The seminar focused on international investment arbitration and its relation to state sovereignty...
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...
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...
By Damon Vis-Dunbar 21 October 2008 Nonparties wishing to intervene in an international arbitration launched by Italian miners against the government of South Africa have been offered a set of procedures to follow. A two-page document, available from the ICSID secretariat, summarizes the allegations...
By Damon Vis-Dunbar 14 October 2008 A three-person committee formed by the International Centre for the Settlement of Investment Disputes (ICSID) has rejected the Argentine government’s position that foreign investors who have been awarded damages through the ICSID arbitration system must go to...
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...
By Damon Vis-Dunbar 26 September 2008 A US citizen, Devincci Salah Hourani, has launched a lawsuit against the government of Kazakhstan over a failed contract to explore and exploit oil in the country. Mr. Hourani, who holds a 92% stake in the Kazakh firm Caratube International Oil Company (CIOC), has...
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...