INTERNATIONAL ARBITRATION 1/3LY
NOTABLE C A SES
> I CS ID, 9 JUNE : AL SHARIF, A JORDANI AN FOUNDER AND CEO OF AMIRAL GROUP, HA S DROPPED THREE CL A IMS F ILED UNDER THE JORDAN- EGYP T BIL AT ERAL INVESTMENT TRE AT Y FOLLOWING A HIGH -VALUE
NAT IONAL ARBI TRAT ION LEGI SL AT ION IN THE STAT E OF ENFOR CEMENT. IN OTHER WORDS , I T I S NOT AFFECT ED BY THE BRUSSELS REGUL AT ION. THI S DECI S ION RE AFF IRMS THE PRIMACY OF THE NEW YORK CONVENT ION BY TAK ING THE BRUSSELS REGUL AT ION OUT OF THE EQUAT ION WHEN I T COMES TO THE ENFOR CEMENT AND RECOGNI T ION OF AN ANT I -SUI T AWARD. > I CS ID, 5 MAY 2015 : AN I CS ID TRIBUNAL HA S DI SMI SSED A CL A IM BY A COMPANY CHA IRED BY A FORMER PRIME MINI ST ER OF PAPUA NEW GUINE A AGA INST THE PACIF I C I SL AND STAT E ON JURI SDI CT IONAL GROUNDS . ACCORDING TO THE TRIBUNAL , PAPUA NEW GUINE A’ S 1992 INVESTMENT PROMOT ION ACT DID NOT CONTA IN A FREE-STANDING CONSENT TO ARBI TRAT E AT I CS ID. > I CS ID, 5 MAY 2015 : A EUR 1 BILL ION CL A IM BY A CHINESE SHAREHOLDER IN FORT I S F INANCI AL SERV I CES AGA INST BELGI UM WA S DI SMI SSED ON THE GROUNDS OF T EMPORAL JURI SDI CT ION. THE CL A IM REL AT ED TO A BA IL OUT OF FORT I S F INANCI AL SERV I CES DURING THE F INANCI AL CRI S I S IN 2008 WHI CH THE CHINESE SHAREHOLDER OBJECT ED TO OWING TO DE VALUAT ION OF THE IR INVESTMENT. > THE MOSCOW COMMER CI AL COURT, 29 APRIL 2015 : THE MOSCOW COMMER CI AL COURT HA S SE T A S IDE A USD 118 MILL ION AWARD I SSUED IN THE MOSCOW CHAMBER OF COMMER CE AND INDUSTRY (MCCI ) L A ST YE AR . C ANADI AN MINING COMPANY STANS ENERGY OBTA INED THE AWARD AGA INST KYRGY ZSTAN FOR THE EXPROPRI AT ION OF A RARE E ARTH PROJECT. > I CC , 10 APRIL 2015 : CL A IMS THAT THE CZECH ELECTRI CI T Y DI STRIBUTOR , CEZ , BRE ACHED A PRI VAT I S AT ION DE AL WI TH ENERGY SHARES ADMINI STRAT ION COMPANY ( S APE ) , A ROMANI AN STAT E ENT I T Y, HAVE BEEN PART LY UPHELD BY AN I CC TRIBUNAL . ALTHOUGH THE CL A IM WA S FOR EUR 81 MILL ION IN DAMAGES , S APE DECL ARED THAT I T HAD WON EUR 5 .7 MILL ION IN DAMAGES ON 10 APRIL .
SE T T LEMENT. THE DI SPUT E REL AT ES TO INVESTMENT PROJECT S IN VARIOUS PORT S AND CUSTOMS OPERAT IONS .
> I CS ID, 21 MAY 2015 : AN I CS ID TRIBUNAL HA S RULED ON A CONTRACTUAL DI SPUT E OVER EXPORT ROYALT IES . INVESTORS IN PERU ’ S L ARGEST NATURAL GA S PROJECT HAVE BEEN ORDERED TO PAY APPROX IMAT ELY USD 65 MILL ION TO PERUPE TRO, A STAT E OWNED AGENCY. > AD HOC , 20 MAY 2015 : USD 1.1 BILL ION HA S BEEN AWARDED TO IRAN ’ S NAT IONAL OIL COMPANY IN A 26 YE AR ARBI TRAT ION DI SPUT E AGA INST A COMPANY OWNED BY THE I SRAEL I GOVERNMENT OVER PAYMENT FOR OIL SHIPMENT S PRE- DAT ING THE IRANI AN RE VOLUT ION OF 1979 . > COURT OF JUS T I CE OF THE EUROPE AN UNION, 13 MAY 2015 : THE ADVOC AT E GENERAL OF THE COURT OF JUST I CE OF THE EUROPE AN UNION ( CJEU) GAVE HI S OP INION ON WHE THER AN EU MEMBER STAT E C AN REFUSE TO ENFOR CE AN ARBI TRAL AWARD CONTA INING AN ANT I -SUI T INJUNCT ION BEC AUSE I T I S INCONS I ST ENT WI TH COUNCIL REGUL AT ION ( EC ) 44 / 2001 ON JURI SDI CT ION AND THE RECOGNI T ION AND ENFOR CEMENT OF CI V IL AND COMMER CI AL MAT T ERS , ALSO KNOWN A S THE BRUSSELS REGUL AT ION. HE RECOMMENDED THAT THE BRUSSELS REGUL AT ION MUST BE INT ERPRE T ED A S NOT REQUIRING AN EU MEMBER STAT E COURT TO REFUSE TO RECOGNI SE AND ENFOR CE AN ANT I -SUI T INJUNCT ION I SSUED BY AN ARBI TRAL TRIBUNAL ON THE BA S I S THAT RECOGNI T ION AND ENFOR CEMENT FALLS EXCLUS I VELY WI THIN THE SCOPE OF THE NEW YORK CONVENT ION. THE CJEU THEN GAVE I T S DECI S ION IN THE C A SE ON 13 MAY 2015 , MIRRORING THE ADVOC AT E GENERAL’ S OP INION THAT AN ANT I -SUI T AWARD MADE BY AN ARBI TRAL TRIBUNAL SHOULD BE LEF T TO BE DE T ERMINED BY THE
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