INTERNATIONAL ARBITRATION 1/3LY
NOTABLE CASES
> ICSID, 22 MAY 2014: AN ICSID TRIBUNAL ORDERED ARGENTINA TO PAY SAUR, A FRENCH WATER MANAGEMENT COMPANY, USD 59 MILLION FOLLOWING ITS EXPROPRIATION OF A WATER AND SEWAGE CONCESSION IN A CASE THAT HAS BEEN RAGING FOR 11 YEARS > UK PRIVY COUNCIL (REVIEWING ICC AWARD), 13 MAY 2014: DUTCH TELECOMS COMPANY SONERA HAS WON THE RIGHT TO ENFORCE A USD ONE BILLION ICC AWARD AGAINST TURKEY’S ÇUKUROVA HOLDING IN THE BRITISH VIRGIN ISLANDS, FOLLOWING A JUDGMENT ISSUED BY THE JUDICIAL COMMITTEE OF THE UK PRIVY COUNCIL ON 13 MAY > ICSID, 8 MAY 2014: REPSOL SECURED A USD 5 BILLION BOND PACKAGE FROM ARGENTINA TO SETTLE ITS ICSID CLAIM EMANATING FROM ARGENTINA’S 2012 EXPROPRIATION OF THE COMPANY’S MAJORITY STAKE IN ARGENTINE ENERGY COMPANY, YPF, AVOIDING POTENTIALLY LENGTHY ICSID PROCEEDINGS > ICSID, 6 MAY 2014: EGYPT DEFEATED AN ICSID CLAIM, CONCERNING A HOTEL RESORT ON THE RED SEA, BROUGHT BY US INVESTOR, H&H ENTERPRISES INVESTMENTS, UNDER THE US-EGYPT BILATERAL INVESTMENT TREATY > ICSID, 30 APRIL 2014: CANADIAN COMPANY, NOVA SOCTIA POWER HAD ITS USD 180 MILLION CLAIM FOR DAMAGES OVER THE SUSPENSION OF A LONG-TERM COAL SUPPLY CONTRACT WITH A VENEZUELAN STATE ENTITY DISMISSED BY AN ICSID PANEL ON GROUNDS THAT THE PURCHASE AND SUPPLY TRANSACTIONS GOVERNED BY THE CONTRACT DID NOT QUALIFY AS INVESTMENTS UNDER THE CANADA-VENEZUELA BIT
> HONG KONG COURT OF FIRST INSTANCE (REVIEWING HKIAC DECISION), 28 APRIL 2014: THE COURT STRUCK OUT THE FIRST EVER CLAIM BROUGHT AGAINST THE HKIAC, ARISING FROM HKIAC’S DECISION REJECTING A CHALLENGE TO TWO ARBITRATORS IN AN ONGOING ARBITRATION GOVERNED BY THE 2008 HKIAC ADMINISTERED ARBITRATION RULES > HIGH COURT OF TANZANIA, 23 APRIL 2014: THE TANZANIAN HIGH COURT IN DAR ES SALAAM TOOK THE VIRTUALLY UNPRECEDENTED STEP OF ISSUING AN INTERIM INJUNCTION PREVENTING COMPLIANCE WITH AN ICSID DECISION PENDING THE OUTCOME OF A FRAUD CASE BROUGHT BY IPTL AGAINST STANDARD CHARTERED. THE INJUNCTION REFERS TO A FEBRUARY DECISION AFFIRMING STANDARD CHARTERED’S STANDING TO BRING CLAIMS UNDER A 1995 CONTRACT BETWEEN IPTL AND TANESCO > PERMANENT COURT OF ARBITRATION (UNCITRAL RULES), 11 APRIL: AN UNCITRAL TRIBUNAL SITTING IN THE HAGUE HAS ORDERED GHANA TO PAY USD 87 MILLION TO AN IT COMPANY FOR CANCELLING A CONTRACT TO DESIGN CUSTOMS PROCESSING SOFTWARE
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