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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 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…

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…

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…