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International Investment

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In Arbitration Agreements

Swedish Appeal Court rules that arbitral tribunal should not have heard Yukos claims

by 6 Mins Read

In its judgment of 18 January 2016[1], the Svea Court of Appeal overturned the Stockholm District Court’s judgment and approved the Russian Federation’s plea for negative declaratory relief. Contrary to the Stockholm District Court, the Svea Court of Appeal found that the arbitral tribunal lacked jurisdiction to adjudicate the claim made by Spanish investors against the Russian Federation originating from the alleged expropriation of the Spanish investor’s investments in Yukos Oil Company. The Svea Court…

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In Australia

TPP text released: Investment Chapter

by , and 7 Mins Read

The much awaited text of the TPP has been released. As anticipated, the Investment Chapter (Chapter 9) sets out protections for investors of each TPP State and the mechanism for investors to bring claims in the event a TPP State fails to comply with these protections. A summary of those protections and the investor-state dispute settlement (ISDS) mechanism is set out below. What is protected? The TPP Investment Chapter protects investments made by investors of…

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In Applicable Law

European Commission Targets Five EU Member States Over Intra-EU BITs

by and 4 Mins Read

On 18 June 2015 the European Commission issued a press release stating that they had “initiated proceedings against five Member States today requesting them to terminate intra-EU bilateral investment treaties between them”, and were launching a campaign to wipe out the broader intra-EU BIT regime. Lord Jonathan Hill, European Commissioner for Financial Services, said that intra-EU BITs are “outdated and… no longer necessary”. The Member States targeted by the Commission are: Austria, the Netherlands, Romania,…

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In Democratic Republic of the Congo

USA: ICSID award confirmed and post-judgment interest granted ex parte

by 3 Mins Read

In Miminco, LLC v. Democratic Republic of the Congo, No. 14-01987 (D.D.C. Feb. 9, 2015), a U.S. district court confirmed an ICSID arbitral award and granted post-judgment interest in an ex parte proceeding, but declined to award pre-judgment interest, attorneys’ fees, or costs. Petitioners obtained a $13 million award against Respondent, the Democratic Republic of the Congo, in an arbitration pursuant to the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States…

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