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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Canada reportedly intends to tax 700+ million USD settlement of ICSID AF arbitration dispute between mining company and Venezuela; potential new multi-billion-dollar arbitration against Caracas appears to remain on hold

February 4, 2025Mining Disputes, Payment of Awards, Venezuela
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Gazprom Round-Up: Hungary shields Gazprom from enforcement, member of Gazprom Group lodges 810-million-EUR claim against Linde, German companies turn to Russia’s highest court over 14.3-billion-EUR anti-arbitration injunction, and other arbitration-related updates involving the Russian state-owned gas company

November 8, 2024Commonwealth of Independent States and Ukraine, Payment of Awards, Round-Ups
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[Updated] Canadian and UK miners reportedly file for annulment of ICSID award that rejected 4.4 billion USD claim against Romania and awarded the state 10 million USD in costs; meanwhile, investors seek financing while Romania attempts to secure collection of awarded costs

July 9, 2024ICSID (World Bank), Intra-European Union, Mining Disputes, Payment of Awards
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Analysis: ICSID Background Paper on compliance and enforcement with awards finds that most damages awards and a significant (but lower) portion of costs awards are satisfied through voluntary compliance or post-award settlement; Background Paper considers that enforcement of ICSID awards before domestic courts is largely successful, specifically discussing intra-EU awards

June 25, 2024ICSID (World Bank), Payment of Awards
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Analysis: In Sodexo v. Hungary, tribunal split on distinction between “expropriation” and “dispossession”, but full tribunal found that Hungarian reform of meal voucher market breached BIT

December 19, 2023Central/Eastern Europe, Damage Determinations, ICSID (World Bank), Payment of Awards
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[Updated] Reficar seeks §1782 U.S. Code discovery to fight corporate restructuring that would allegedly annihilate billion-dollar ICC award in favor of the state entity

September 26, 2023Colombia, Energy Disputes, ICC Rules, Payment of Awards
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US court enforces Perenco v. Ecuador award, finding that disputed setoffs are not permitted in ICSID enforcement proceedings, and that post-judgment interest should accrue at the statutory (rather than the award’s) interest rate

March 17, 2023Annulment and Court Review of Awards, Energy Disputes, ICSID (World Bank), Payment of Awards
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Dispute over enforcement of intra-EU ICSID award against Spain heats up, as both parties to the NextEra v. Spain arbitration seek anti-suit injunctions

January 13, 2023Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards, Spain
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[Updated] Vattenfall asks for discontinuance of ICSID arbitration against Germany, after settlement enters into force

November 2, 2021Central/Eastern Europe, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards
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Looking Back: ICSID tribunal in AIG v. Kazakhstan dismissed a jurisdictional objection based on the respondent’s lack of participation in the tribunal’s constitution, found an indirect expropriation, and discussed principles of compensation

September 30, 2021Damage Determinations, ICSID (World Bank), Looking Back, Payment of Awards
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US declines OFAC authorization for enforcement of billion-dollar award against Venezuela, despite threat of NAFTA claim

September 25, 2021Annulment and Court Review of Awards, ICSID (World Bank), Mining Disputes, Payment of Awards, Venezuela
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Southern and Eastern Africa Round-Up: A new award against Kenya’s airport authority, an ICC case involving Zimbabwe, and disputes looming in Burundi

September 17, 2021Energy Disputes, ICC Rules, ICSID (World Bank), Land Reform Disputes, Mining Disputes, Payment of Awards, Round-Ups, Transportation Disputes
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Turkey Round-Up: Istanbul Canal project prompts political debate focusing on potential arbitration claims, an arbitration nearing an end, and an update on various other arbitration-related developments

July 5, 2021Central/Eastern Europe, Energy Disputes, ICSID (World Bank), Mining Disputes, Payment of Awards, Round-Ups, Telecoms Disputes, UNCITRAL and Ad-Hoc
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Advocate General advises European court to quash judgment that found payment of Micula award to be compatible with state aid rules; opinion also touches on temporal application of Achmea judgment

July 1, 2021Central/Eastern Europe, ICSID (World Bank), Intra-European Union, Payment of Awards
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UNCITRAL Secretariat releases notes on third-party funding and implementation of Code of Conduct

May 25, 2021Arbitrator Challenges and Recusals, ICSID (World Bank), Interim Measures Decisions, ISDS Reform, Payment of Awards, UNCITRAL and Ad-Hoc
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India is put on notice of treaty-based dispute over alleged retaliatory actions against claimants in billion-dollar satellite arbitrations

May 8, 2021Annulment and Court Review of Awards, ICC Rules, India, Payment of Awards, Telecoms Disputes, UNCITRAL and Ad-Hoc
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CIS Round-Up: Possible claims arising out of the Armenia-Azerbaijan conflict, and an update on disputes involving Russia, Turkmenistan, Kazakhstan, and Moldova

February 17, 2021Annulment and Court Review of Awards, Commonwealth of Independent States and Ukraine, Energy Charter Treaty, Energy Disputes, ICC Rules, ICSID (World Bank), Mining Disputes, Payment of Awards, Round-Ups
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CIS round-up: An update on arbitration cases against Ukraine, Kazakhstan, Belarus and Azerbaijan

December 29, 2020Commonwealth of Independent States and Ukraine, Energy Disputes, ICC Rules, ICSID (World Bank), Mining Disputes, Payment of Awards, Round-Ups, SCC Rules (Stockholm), UNCITRAL and Ad-Hoc
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Analysis: Tribunal in KBR v. Mexico found that proceedings for the enforcement of a commercial award fell under the scope of NAFTA’s waiver requirement

November 27, 2020Annulment and Court Review of Awards, Mining Disputes, North American Free Trade Agreement (NAFTA), Payment of Awards, UNCITRAL and Ad-Hoc
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Group of renewables investors waive their arbitration rights in order to benefit from Spain’s new incentives scheme

October 5, 2020Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Payment of Awards, Spain
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After identifying a “significant risk” of non-recoupment, ICSID ad hoc committee extends stay of enforcement of SolEs Badajoz v. Spain award

August 27, 2020Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards, Spain
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Reasons surface why Cube v. Spain committee declined the EC’s request to intervene as amicus curiae, and lifted the stay of enforcement of the award

June 26, 2020Amicus Curiae Interventions, Annulment and Court Review of Awards, Energy Charter Treaty, ICSID (World Bank), Intra-European Union, Payment of Awards, Spain
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Stay of enforcement is terminated in renewables case, after Spain fails to provide an undertaking to comply with the underlying award

June 1, 2020Annulment and Court Review of Awards, Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards, Spain
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Breaking: Resubmission tribunal in TECO v. Guatemala case awards additional damages in long-running electricity distribution dispute

May 14, 2020Annulment and Court Review of Awards, Central American Free Trade Agreement, Damage Determinations, Energy Disputes, ICSID (World Bank), Payment of Awards
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Spain is granted conditional stay of enforcement in renewables case, but argument on potential EU penalty for payment of ICSID award does not gain traction with ad hoc committee

April 10, 2020Energy Charter Treaty, Energy Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards, Spain
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In Tennant v. Canada, tribunal refuses to order interim measures and security for costs, but mandates third-party funding disclosure; bifurcation request is deemed premature

April 5, 2020Amicus Curiae Interventions, Interim Measures Decisions, North American Free Trade Agreement (NAFTA), Payment of Awards, UNCITRAL and Ad-Hoc
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Canada round-up: Canada prevails in claim brought by Egyptian investor, as a number of other cases see new developments

March 31, 2020Amicus Curiae Interventions, Energy Disputes, ICSID (World Bank), North American Free Trade Agreement (NAFTA), Payment of Awards, Round-Ups, Telecoms Disputes, UNCITRAL and Ad-Hoc
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UPDATED: ICSID ad hoc committee offers to extend stay of enforcement of $400+ million arbitral award, if respondent-state commits to pay award if annulment application is unsuccessful

February 24, 2020Annulment and Court Review of Awards, Energy Disputes, ICSID (World Bank), Payment of Awards
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UK Supreme Court finds in favour of Micula brothers and lifts stay of enforcement of ICSID award

February 19, 2020Annulment and Court Review of Awards, Central/Eastern Europe, EU External Investment Policy, ICSID (World Bank), Payment of Awards
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Romania round-up: As state reportedly moves to pay controversial Micula award, we provide an update on developments in seven investment treaty-based arbitrations

December 17, 2019Central/Eastern Europe, ICSID (World Bank), Intra-European Union, Mining Disputes, Payment of Awards, Round-Ups
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Crystallex v. Venezuela: U.S. Appeals Court OK’s enforcement of billion dollar ICSID award through attachment of shares in U.S. based refinery company

July 29, 2019Annulment and Court Review of Awards, ICSID (World Bank), Mining Disputes, Payment of Awards, Venezuela
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Sweden’s Supreme Court agrees to review Achmea-related effort to set aside BIT award, and to stay its enforcement in interim

April 15, 2019Annulment and Court Review of Awards, Central/Eastern Europe, Intra-European Union, Payment of Awards, SCC Rules (Stockholm)
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Newly-released decision explains why annulment committee in Hochtief v. Argentina stayed enforcement of an award in favour of party seeking annulment

April 2, 2019Annulment and Court Review of Awards, Argentina, ICSID (World Bank), News, Payment of Awards
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Poland investment treaty claims round-up: an update on new claims, progress of ongoing cases, and enforcement/set-aside actions

November 16, 2018Annulment and Court Review of Awards, Central/Eastern Europe, ICC Rules, ICSID (World Bank), Intra-European Union, Payment of Awards, Round-Ups, UNCITRAL and Ad-Hoc
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ANALYSIS: now that first EU court has set aside an intra-EU BIT award due to Achmea ruling, we look at the fate of three other awards

November 12, 2018Annulment and Court Review of Awards, ICSID (World Bank), Intra-European Union, Payment of Awards, SCC Rules (Stockholm)
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Swiss Federal Supreme Court declines enforcement of investment treaty award, finding no “substantial link” to Switzerland in underlying dispute

October 14, 2018Annulment and Court Review of Awards, Commonwealth of Independent States and Ukraine, Mining Disputes, Payment of Awards, UNCITRAL and Ad-Hoc
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An update on eight investment arbitration claims against Canada

September 20, 2018Energy Disputes, Environmental Disputes, ICSID (World Bank), North American Free Trade Agreement (NAFTA), Payment of Awards, Round-Ups, Telecoms Disputes, UNCITRAL and Ad-Hoc
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A first look at ICSID’s proposed rules changes, including in relation to provisional measures, third-party funding, security for costs, and arbitrator disqualification

August 3, 2018Annulment and Court Review of Awards, Arbitrator Challenges and Recusals, ICSID (World Bank), Interim Measures Decisions, ISDS Reform, Payment of Awards, UNCITRAL and Ad-Hoc
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In newly-surfaced award, ICC tribunal rejects government’s attempt to use UN Convention on Corruption – and non-public tendering of contract – to argue for illegality of investment

June 17, 2018Annulment and Court Review of Awards, ICC Rules, News, Payment of Awards
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Analysis: in a pair of recent decisions, ICSID committees disagree on conditions for continuing a stay of award enforcement; one committee deems conduct of state in a prior case to be in violation of ICSID Convention

June 17, 2018Annulment and Court Review of Awards, ICSID (World Bank), Payment of Awards, Venezuela
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Elliott hedge fund BIT claims: U.S. hedge fund threatens Korea, as its separate BIT case against Poland nears conclusion, and compliance with adverse costs award in a third BIT case remains a mystery

May 1, 2018Central/Eastern Europe, Payment of Awards, Round-Ups, UNCITRAL and Ad-Hoc
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Looking Back: In SPP v. Egypt, state is ordered to pay compensation after cancelling pyramids tourism project to preserve cultural heritage

April 9, 2018Damage Determinations, Human Rights and Investment Law, ICSID (World Bank), Looking Back, Payment of Awards
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English court orders security for costs against claimants in set-aside proceedings funded by Burford Capital, but declines security over still-unpaid adverse costs order in underlying arbitration

February 12, 2018Annulment and Court Review of Awards, Energy Disputes, Payment of Awards, UNCITRAL and Ad-Hoc
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As another Spain award looms, four more previously-confidential renewables cases surface; potential liability for all pending claims now exceeds $9.5 billion

February 7, 2018Energy Disputes, Environmental Disputes, ICSID (World Bank), Intra-European Union, Payment of Awards, SCC Rules (Stockholm), UNCITRAL and Ad-Hoc
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Stay of enforcement of $370+ million award is lifted, as ICSID panel does not see clear promise by Ecuador to swiftly comply if award is not overturned, nor a compelling case of economic hardship

September 1, 2017Annulment and Court Review of Awards, Energy Disputes, Environmental Disputes, ICSID (World Bank), Payment of Awards
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In previously confidential rulings, stay of enforcement was lifted in Zimbabwe case, and ICSID panel gave the state another shot at effecting restitution of seized properties – but no payment or restitution was forthcoming

August 27, 2017Annulment and Court Review of Awards, ICSID (World Bank), Interim Measures Decisions, Land Reform Disputes, Payment of Awards
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In new development, Micula claimants fail to obtain security from Romania as this would contravene EU Commission’s order prohibiting Romania from complying with award

June 15, 2017Annulment and Court Review of Awards, Central/Eastern Europe, ICSID (World Bank), Intra-European Union, Payment of Awards
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After colorful collection battle, 45 million Euro BIT award against Thailand is recognized by Germany’s highest court

December 11, 2016Annulment and Court Review of Awards, News, Payment of Awards, Transportation Disputes, UNCITRAL and Ad-Hoc
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Russian space agency threatens BIT arbitration against France following moves to enforce Yukos award – dispute echoes Kaliningrad BIT claim against Lithuania

October 24, 2016Annulment and Court Review of Awards, Commonwealth of Independent States and Ukraine, Energy Disputes, ICC Rules, Payment of Awards, UNCITRAL and Ad-Hoc
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