INTERNATIONAL ARBITRATION 1/3LY
NOTABLE C A SES
> I CS ID, 22 MAY 2014 : AN I CS ID TRIBUNAL ORDERED ARGENT INA TO PAY S AUR , A FRENCH WAT ER MANAGEMENT COMPANY, USD 59 MILL ION FOLLOWING I T S EXPROPRI AT ION OF A WAT ER AND SEWAGE CONCESS ION IN A C A SE THAT HA S BEEN RAGING FOR 11 YE ARS > UK PRI V Y COUNCIL (RE V IEWING I CC AWARD) , 13 MAY 2014 : DUTCH T ELECOMS COMPANY SONERA HA S WON THE RIGHT TO ENFOR CE A USD ONE BILL ION I CC AWARD AGA INST TURKE Y ’ S ÇUKUROVA HOLDING IN THE BRI T I SH V IRGIN I SL ANDS , FOLLOWING A JUDGMENT I SSUED BY THE JUDI CI AL COMMI T T EE OF THE UK PRI V Y COUNCIL ON 13 MAY > I CS ID, 8 MAY 2014 : REP SOL SECURED A USD 5 BILL ION BOND PACK AGE FROM ARGENT INA TO SE T T LE I T S I CS ID CL A IM EMANAT ING FROM ARGENT INA’ S 2012 EXPROPRI AT ION OF THE COMPANY ’ S MA JORI T Y STAKE IN ARGENT INE ENERGY COMPANY, YPF, AVOIDING POT ENT I ALLY LENGTHY I CS ID PROCEEDINGS > I CS ID, 6 MAY 2014 : EGYP T DEFE AT ED AN I CS ID CL A IM, CONCERNING A HOT EL RESORT ON THE RED SE A , BROUGHT BY US INVESTOR , H&H ENT ERPRI SES INVESTMENT S , UNDER THE US - EGYP T BIL AT ERAL INVESTMENT TRE AT Y > I CS ID, 30 APRIL 2014 : C ANADI AN COMPANY, NOVA SOCT I A POWER HAD I T S USD 180 MILL ION CL A IM FOR DAMAGES OVER THE SUSPENS ION OF A LONG -T ERM COAL SUPPLY CONTRACT WI TH A VENEZUEL AN STAT E ENT I T Y DI SMI SSED BY AN I CS ID PANEL ON GROUNDS THAT THE PUR CHA SE AND SUPPLY TRANS ACT IONS GOVERNED BY THE CONTRACT DID NOT QUAL IF Y A S INVESTMENT S UNDER THE C ANADA -VENEZUEL A BI T
> HONG KONG COURT OF F IRS T INS TANCE (RE V IEWING HK I AC DECI S ION) , 28 APRIL 2014 : THE COURT STRUCK OUT THE F IRST E VER CL A IM BROUGHT AGA INST THE HK I AC , ARI S ING FROM HK I AC ’ S DECI S ION REJECT ING A CHALLENGE TO T WO ARBI TRATORS IN AN ONGOING ARBI TRAT ION GOVERNED BY THE 2008 HK I AC ADMINI ST ERED ARBI TRAT ION RULES > HIGH COURT OF TANZ ANI A , 23 APRIL 2014 : THE TANZ ANI AN HIGH COURT IN DAR ES S AL AAM TOOK THE V IRTUALLY UNPRECEDENT ED ST EP OF I SSUING AN INT ERIM INJUNCT ION PRE VENT ING COMPL I ANCE WI TH AN I CS ID DECI S ION PENDING THE OUTCOME OF A FRAUD C A SE BROUGHT BY IP T L AGA INST STANDARD CHART ERED. THE INJUNCT ION REFERS TO A FEBRUARY DECI S ION AFF IRMING STANDARD CHART ERED ’ S STANDING TO BRING CL A IMS UNDER A 1995 CONTRACT BE T WEEN IP T L AND TANESCO > PERMANENT COURT OF ARBI TRAT ION (UNCI TRAL RULES ) , 11 APRIL : AN UNCI TRAL TRIBUNAL S I T T ING IN THE HAGUE HA S ORDERED GHANA TO PAY USD 87 MILL ION TO AN I T COMPANY FOR C ANCELL ING A CONTRACT TO DES IGN CUSTOMS PROCESS ING SOF T WARE
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