INTERNATIONAL ARBITRATION 1/3LY
NOTABLE CASES
> U NCITRAL, 1 JULY 2015: ECUADOR IS FACING A TREATY CLAIM UNDER THE SPAIN-ECUADOR BILATERAL INVESTMENT TREATY. THE USD 50 MILLION CLAIM HAS BEEN BROUGHT BY SPANISH-LED ENGINEERING CONSORTIUM, CONSORCIO GLP ECUADOR AND CONCERNS CLAIMS THAT THE STATE VIOLATED ITS OBLIGATIONS UNDER THE BIT BY DECLARING THAT THE COMPANY DEFAULTED ON THEIR CONTRACTUAL OBLIGATIONS FOR THE CONSTRUCTION OF STORAGE SPHERES FOR LIQUEFIED PETROLEUM AT THE PORT OF MONTEVERDE IN ECUADOR. IT IS THOUGHT THAT THE ARBITRATION WILL BE HEARD UNDER UNCITRAL RULES. > ICSID, 14 JULY 2015: CLYDE & CO’S MAURICE KENTON REPRESENTED CARNEGIE MINERALS (GAMBIA) LIMITED IN ITS SUCCESSFUL ICSID ARBITRATION AGAINST THE REPUBLIC OF THE GAMBIA. THE ARBITRATION WHICH STARTED IN 2009 CONCLUDED LAST MONTH WHEN THE TRIBUNAL AWARDED THE COMPANY APPROXIMATELY AUD 31 MILLION IN DAMAGES AND COSTS. THE ICSID PROCEEDINGS CONCERNED CARNEGIE’S RIGHT TO MINE ZIRCON, ILMENITE AND RUTILE IN THE GAMBIA AFTER THE GAMBIAN GOVERNMENT HAD TERMINATED THE COMPANY’S MINING LICENCE, SEIZED ITS MINING ASSETS AND DETAINED ITS MINE MANAGER, MR CHARLIE NORTHFIELD, FOLLOWING ALLEGATIONS THAT THE COMPANY HAD ILLEGALLY MINED TITANIUM, IRON ORE AND URANIUM, ALL BEING COMPONENT PARTS OF THE MINERALS IT WAS LICENSED TO MINE. > P ERMANENT COURT OF ARBITRATION, 14 AUGUST 2015: A TRIBUNAL IN THE HAGUE HAS RULED THAT RUSSIA PAY FOR DAMAGES FOR THE CAPTURE AND DETENTION OF “THE ARCTIC 30”; ENVIRONMENTAL ACTIVISTS WHO WERE ABOARD A GREENPEACE SHIP TWO YEARS AGO. RUSSIA WERE FOUND LIABLE UNDER THE UNITED NATIONS CONVENTION ON THE LAW OF THE SEA (UNCLOS) AFTER THEY BOARDED THE ARCTIC SUNRISE AND ARRESTED AND PROSECUTED THE SHIP’S CREW, WHO WERE ATTEMPTING TO OCCUPY A GAZPROM OFFSHORE DRILLING PLATFORM WHICH FELL WITHIN RUSSIA’S EXCLUSIVE ECONOMIC ZONE.
> ICSID, 24 AUGUST 2015: GERMAN INVESTOR SOLES BADAJOZ HAS FILED AN ICSID CLAIM AGAINST SPAIN UNDER THE ENERGY CHARTER TREATY, IN WHAT IS THE COUNTRY’S 20TH ICSID CLAIM. THE CLAIM FOLLOWS THE GOVERNMENT’S DECISION TO DRAW BACK REGULATORY POLICIES WHICH ENCOURAGED THE PRODUCTION OF RENEWABLE ENERGY, FOLLOWING THE GLOBAL FINANCIAL CRISIS. SOLES CLAIM THAT THE GOVERNMENT HAD GUARANTEED THE COMPANY A 25 YEAR TARIFF TO PRODUCE RENEWABLE ENERGY WHICH THEY THEN DEFAULTED ON, LEADING TO SIGNIFICANT FINANCIAL LOSSES FOR THE COMPANY. THE CLAIM IS THOUGHT TO BE WORTH BETWEEN USD 50 AND USD 100 MILLION. > ICC, 29 AUGUST 2015: A FOUR-YEAR ARBITRATION HAS RESULTED IN VOLKSWAGEN BEING ORDERED TO SELL THEIR 20% STAKE IN SUZUKI MOTOR CORPORATION BY AN ICC TRIBUNAL. THE AWARD RULED THAT VOLKSWAGEN SELL THEIR SHARE, THOUGHT TO BE WORTH USD 3.8 BILLION, TO SUZUKI OR A THIRD PARTY OF THE CLAIMANT’S CHOICE. THE DISPUTE AROSE AFTER SUZUKI CLAIMED THAT VOLKSWAGEN HAD NOT MET THEIR CONTRACTUAL OBLIGATIONS TO SHARE THEIR FUEL-EFFICIENT TECHNOLOGY WITH SUZUKI AS PART OF A DEAL TO CO-MANUFACTURE ECO-FRIENDLY CARS. > ICC, 2 SEPTEMBER 2015: A DISPUTE BETWEEN TWO SPANISH TV CHANNEL OPERATORS, MEDIAPRO AND GRUPO PRISA, OVER FOOTBALL BROADCASTING RIGHTS HAS RESULTED IN AN ICC TRIBUNAL DISMISSING THE MAJORITY OF THE EUR 200 MILLION CLAIM. THE DISPUTE AROSE FOLLOWING A EUR 2.4 BILLION AGREEMENT BETWEEN THE TWO COMPANIES TO SHARE THE BROADCASTING RIGHTS FOR THREE SEASONS OF SPAIN’S PREMIER LEAGUE AND CUP COMPETITIONS. MEDIAPRO SOUGHT PAYMENT OF COSTS FROM PRISA WHICH RELATED TO THE COSTS INCURRED FROM ACQUIRING THE BROADCASTING RIGHTS FROM THE FOOTBALL TEAMS, WHICH PRISA DISPUTED. REPORTS SUGGEST THAT THE TRIBUNAL RULED THAT MEDIAPRO ONLY PAY EUR 32 MILLION TO PRISA.
Made with FlippingBook Online newsletter