INTERNATIONAL ARBITRATION 1/3LY
NOTABLE C A SES
> UNCI TRAL , 1 JULY 2015 : ECUADOR I S FACING A TRE AT Y CL A IM UNDER THE SPA IN- ECUADOR BIL ATERAL INVESTMENT TREAT Y. THE USD 50 MILLION CL A IM HA S BEEN BROUGHT BY SPANI SH - LED ENGINEERING CONSORTIUM, CONSORCIO GLP ECUADOR AND CONCERNS CL A IMS THAT THE STAT E V IOL AT ED I T S OBL IGAT IONS UNDER THE BI T BY DECL ARING THAT THE COMPANY DEFAULT ED ON THE IR CONTRACTUAL OBL IGAT IONS FOR THE CONSTRUCT ION OF STORAGE SPHERES FOR L IQUEF IED PE TROLEUM AT THE PORT OF MONT E VERDE IN ECUADOR . I T I S THOUGHT THAT THE ARBI TRAT ION WILL BE HE ARD UNDER UNCI TRAL RULES . > I CS ID, 14 JULY 2015 : CLYDE & CO ’ S MAURI CE KENTON REPRESENT ED C ARNEGIE MINERALS (GAMBI A ) L IMI T ED IN I T S SUCCESSFUL I CS ID ARBI TRAT ION AGA INST THE REPUBL I C OF THE GAMBI A . THE ARBI TRAT ION WHI CH START ED IN 2009 CONCLUDED L A ST MONTH WHEN THE TRIBUNAL AWARDED THE COMPANY APPROX IMAT ELY AUD 31 MILL ION IN DAMAGES AND COST S . THE I CS ID PROCEEDINGS CONCERNED C ARNEGIE ’ S RIGHT TO MINE Z IR CON, ILMENI T E AND RUT ILE IN THE GAMBI A AF T ER THE GAMBI AN GOVERNMENT HAD T ERMINAT ED THE COMPANY ’ S MINING L I CENCE , SE I ZED I T S MINING A SSE T S AND DE TA INED I T S MINE MANAGER , MR CHARL IE NORTHF IELD, FOLLOWING ALLEGAT IONS THAT THE COMPANY HAD ILLEGALLY MINED T I TANI UM, IRON ORE AND URANI UM, ALL BE ING COMPONENT PART S OF THE MINERALS I T WA S L I CENSED TO MINE . > PERMANENT COURT OF ARBI TRAT ION, 14 AUGUS T 2015 : A TRIBUNAL IN THE HAGUE HA S RULED THAT RUSS I A PAY FOR DAMAGES FOR THE C APTURE AND DE T ENT ION OF “ THE AR CT I C 30 ” ; ENV IRONMENTAL ACT I V I ST S WHO WERE ABOARD A GREENPE ACE SHIP T WO YE ARS AGO. RUSS I A WERE FOUND L I ABLE UNDER THE UNI T ED NAT IONS CONVENT ION ON THE L AW OF THE SE A (UNCLOS ) AF T ER THE Y BOARDED THE AR CT I C SUNRI SE AND ARREST ED AND PROSECUT ED THE SHIP ’ S CREW, WHO WERE AT T EMPT ING TO OCCUPY A GAZPROM OFFSHORE DRILL ING PL AT FORM WHI CH FELL WI THIN RUSS I A’ S EXCLUS I VE ECONOMI C ZONE .
> I CS ID, 24 AUGUS T 2015 : GERMAN INVESTOR SOLES BADA JOZ HA S F ILED AN I CS ID CL A IM AGA INST SPA IN UNDER THE ENERGY CHART ER TRE AT Y, IN WHAT I S THE COUNTRY ’ S 20TH I CS ID CL A IM. THE CL A IM FOLLOWS THE GOVERNMENT ’ S DECI S ION TO DRAW BACK REGUL ATORY POL I CIES WHI CH ENCOURAGED THE PRODUCT ION OF RENEWABLE ENERGY, FOLLOWING THE GLOBAL F INANCI AL CRI S I S . SOLES CL A IM THAT THE GOVERNMENT HAD GUARANT EED THE COMPANY A 25 YE AR TARIFF TO PRODUCE RENEWABLE ENERGY WHI CH THE Y THEN DEFAULT ED ON, LE ADING TO S IGNIF I C ANT F INANCI AL LOSSES FOR THE COMPANY. THE CL A IM I S THOUGHT TO BE WORTH BE T WEEN USD 50 AND USD 100 MILL ION. > I CC , 29 AUGUS T 2015 : A FOUR-YE AR ARBI TRAT ION HA S RESULT ED IN VOLKSWAGEN BE ING ORDERED TO SELL THE IR 20% STAKE IN SUZUK I MOTOR CORPORAT ION BY AN I CC TRIBUNAL . THE AWARD RULED THAT VOLKSWAGEN SELL THE IR SHARE , THOUGHT TO BE WORTH USD 3 . 8 BILL ION, TO SUZUK I OR A THIRD PART Y OF THE CL A IMANT ’ S CHOI CE . THE DI SPUT E AROSE AF T ER SUZUK I CL A IMED THAT VOLKSWAGEN HAD NOT ME T THE IR CONTRACTUAL OBL IGAT IONS TO SHARE THE IR FUEL- EFF I CIENT T ECHNOLOGY WI TH SUZUK I A S PART OF A DE AL TO CO -MANUFACTURE ECO - FRIENDLY C ARS . > I CC , 2 SEPTEMBER 2015 : A DI SPUT E BE T WEEN T WO SPANI SH T V CHANNEL OPERATORS , MEDI APRO AND GRUPO PRI S A , OVER FOOTBALL BROADC A ST ING RIGHT S HA S RESULT ED IN AN I CC TRIBUNAL DI SMI SS ING THE MA JORI T Y OF THE EUR 200 MILL ION CL A IM. THE DI SPUT E AROSE FOLLOWING A EUR 2 .4 BILL ION AGREEMENT BE T WEEN THE T WO COMPANIES TO SHARE THE BROADC A ST ING RIGHT S FOR THREE SE A SONS OF SPA IN ’ S PREMIER LE AGUE AND CUP COMPE T I T IONS . MEDI APRO SOUGHT PAYMENT OF COST S FROM PRI S A WHI CH REL AT ED TO THE COST S INCURRED FROM ACQUIRING THE BROADC A ST ING RIGHT S FROM THE FOOTBALL T E AMS , WHI CH PRI S A DI SPUT ED. REPORT S SUGGEST THAT THE TRIBUNAL RULED THAT MEDI APRO ONLY PAY EUR 32 MILL ION TO PRI S A .
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