Analysis: Czech Republic prevails in ICSID annulment proceedings lodged by real estate investors; ad hoc committee clarifies that only “fundamental” contradictions warrant annulment of award

March 21, 2025Annulment and Court Review of Awards, ICSID (World Bank)
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Analysis: ICSID/ECT tribunal considers it inefficient to bifurcate Hungary’s objections concerning alleged criminality of underlying asset and whether arbitral award constitutes a protected investment

March 17, 2025Central/Eastern Europe, Energy Charter Treaty, ICSID (World Bank)
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Lithuanian Supreme Court declines to stay domestic court proceedings pending outcome of parallel intra-EU ICSID arbitration, signaling state’s intention to deny recognition and enforcement of ICSID award

March 7, 2025Annulment and Court Review of Awards, Central/Eastern Europe, ICSID (World Bank), Intra-European Union, SCC Rules (Stockholm)
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In Ruby River Capital v. Canada, ICSID tribunal rejects Québec’s application to intervene as non-disputing party, while granting application of environmental NGO

March 3, 2025Energy Disputes, ICSID (World Bank), North American Free Trade Agreement (NAFTA)
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Analysis: In Ahron Frenkel v. Croatia, ICSID tribunal majority applies doctrines of res judicata and abuse of process to dismiss case; dissenter opines that claimant was denied access to justice

March 3, 2025Central/Eastern Europe, ICSID (World Bank)
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Analysis: In QNB v. South Sudan and Bank of South Sudan, ICSID tribunal finds that loan facility qualifies as protected investment and that economic turmoil does not excuse contractual breach, while state’s approval of central bank’s agreement to ICSID arbitration is sufficient to meet designation requirement

February 24, 2025ICSID (World Bank)
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Analysis: ICSID tribunal finds that Albania could deny benefits to American claimant after the arbitration was lodged, but upholds jurisdiction over locally-incorporated companies and sees no legality requirement in underlying treaties; claims are dismissed on the merits

February 24, 2025ICSID (World Bank), Transportation Disputes
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Analysis: ICSID tribunal in Foster Wheeler v. Colombia holds that non-final decision cannot trigger treaty breach, dismissing claims as premature under treaty’s mandatory bifurcation provision

February 18, 2025Colombia, Energy Disputes, ICSID (World Bank)
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Analysis: ICSID committee declines to annul high-stakes Conoco v. Venezuela award, finding no merit in competing governments’ criticisms of tribunal’s constitution, jurisdictional findings, or rulings on lawfulness and valuation date for expropriation

February 11, 2025Annulment and Court Review of Awards, Energy Disputes, ICSID (World Bank), Venezuela
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State-owned Slovenian and Bosnian power generation companies agree to implement trio of UNCITRAL awards, with additional 65-million-EUR payment due by the Bosnian side; parallel ICSID arbitration reportedly to be discontinued mid-2025

February 5, 2025Central/Eastern Europe, Energy Disputes, ICSID (World Bank), Payment of Awards, UNCITRAL and Ad-Hoc
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Analysis: ICSID tribunal declines to order provisional measures against Azerbaijan, seeing no direct effect of travel bans and asset freezes on the conduct of the arbitration

January 30, 2025Commonwealth of Independent States and Ukraine, ICSID (World Bank), Interim Measures Decisions
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US court refuses to stay Antin v. Spain and Cube v. Spain enforcement proceedings pending Supreme Court’s ruling on intra-EU objection

January 28, 2025Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Spain
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Analysis: Ad hoc committee hearing snow crab dispute with Norway dismisses respondent’s request for security for costs; claimants’ petition for reapportionment of advances on costs is also rejected

January 28, 2025Annulment and Court Review of Awards, ICSID (World Bank)
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Revealed: In Rasia v. Armenia, ad hoc committee sees no ground for annulment in tribunal’s interpretation of Armenian statutory limitation provisions that barred applicants’ contractual and umbrella clause claims

January 17, 2025Annulment and Court Review of Awards, Commonwealth of Independent States and Ukraine, ICSID (World Bank)
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Revealed: ICSID ad hoc committee hearing highway concession dispute with Peru rejects investor’s request for partial annulment of award that only granted a fraction of the damages claimed

January 16, 2025Annulment and Court Review of Awards, ICSID (World Bank), Transportation Disputes
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DC court declines Spain’s request to stay proceedings for enforcement of intra-EU ECT award pending decision by US Supreme Court

January 14, 2025Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Spain
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Analysis: In multi-faceted dispute over Laotian casino ventures, twin tribunals find that previous decisions and findings of claimants’ misconduct do not preclude the claims, most of which are ultimately dismissed on the merits

January 9, 2025ICSID (World Bank)
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[Updated] ICSID ad hoc committee rules on expedited objections in high-stakes intra-EU ECT dispute with Spain

January 8, 2025Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Spain
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