On June 12, 2015 the ICSID tribunal in Muhammet Çap & Sehil Inşaat Endustri ve Ticaret Ltd. Sti. v. Turkmenistan has ordered the claimants, two Turkish construction companies, to disclose whether their claims in the arbitration are being funded by a third-party. If a funding agreement existed, the claimants were ordered to disclose the names and details of the third-party funder(s) and the terms of that funding. Third-party funding has raised several concerns. Some argue that…
In large arbitration cases, skilled counsels fill hundreds of pages with factual and legal arguments in order to…
The Last Year and a Half of Cost Allocation in Investment Arbitration Cost allocation in investment arbitration is…
In Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela, No. 14-8163-cv (S.D.N.Y. Mar. 4, 2015), the District Court for the Southern District of New York confirmed an ICSID award’s interest rate, denying Defendant’s motion to modify the award to reflect a statutory interest rate. Defendant, Venezuela, sought modification of a prior order of the court (the “Opinion”) which confirmed Plaintiff’s $1.6 billion International Centre for Settlement of Investment Disputes (“ICSID”) arbitral award. Defendant argued…
Greece will go bankrupt. The struggling Greek economy will collapse. Probably, Greece will leave the Euro-Zone. New state…
The Greek crisis might prevent foreign investors in Greece from transferring their funds to their home country. If…
On April 8, 2015, a three-person tribunal at the International Centre for Settlement of Investment Disputes (“ICSID”) took an expansive view of its authority to impose sanctions to enforce a security for costs order. In RSM Production Corporation v. Saint Lucia, ICSID Case No. ARB/12/10, the claimant-investor, RSM, failed to comply with the tribunal’s August 20, 2014 order that it post security for costs in the amount of USD 750,000 within 30 days. By e-mail…
If recent speculation is to be believed, the EU and US are sleep-walking into a scenario where they…
How prior corrupt conduct by a company can limit it from subsequently pursuing legal rights and remedies Bribery…
Foreign investors into Indonesia have taken note of the following brief paragraphs posted on the website of the Embassy of the Netherlands (see http://indonesia.nlembassy.org/news/2014/03/bilateral-investment-treaty%5B2%5D.html with our additional underline, below): “Indonesia has informed the Netherlands that it has decided to terminate the Bilateral Investment Treaty (official title: Agreement between the Government of the Republic Indonesia and the Government of the Kingdom of the Netherlands on Promotion and Protection of Investment) per July 1, 2015. From that…