INTERNATIONAL ARBITRATION 1/3LY
NOTABLE CASES
> U S DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, 26 MAY 2016: AN OIL CONSORTIUM, WHICH IS BEING LED BY ROYAL DUTCH SHELL AND INCLUDES ENI, EXXONMOBIL AND TOTAL, HAS APPLIED TO A US COURT FOR THE ENFORCEMENT OF A USD 1.4 BILLION AWARD AGAINST THE NIGERIAN NATIONAL PETROLEUM CORPORATION, AFTER THE FEDERAL HIGH COURT IN ABUJA SUSPENDED THE ARBITRATION IN 2012. THE PARTIAL AWARD WAS MADE IN 2013 IN RELATION TO A PRODUCTION-SHARING CONTRACT FOR THE DEEPWATER BONGA OIL FIELD IN THE NIGER DELTA. > U NCITRAL, 6 MAY 2016: A UNCITRAL TRIBUNAL CHAIRED BY BERNARD HANOTIAU HAS RULED THAT ECUADOR PAY OVER USD 30 MILLION TO US COMPANY, MURPHY OIL, AFTER FINDING THAT THE COUNTRY’S 99% LEVY ON WINDFALL OIL PROFITS BREACHED THE US-ECUADOR BILATERAL INVESTMENT TREATY. THE LEVY WAS ORIGINALLY SET AT 50% HOWEVER, FOLLOWING THE INCREASE IN OIL PRICES, WAS SUBSEQUENTLY RAISED TO 99% IN 2007. > ICC, 6 MAY 2016: FRANCE’S EDF HAS DEFEATED CLAIMS BROUGHT BY STATE-OWNED ENTITY, NECKARPRI, AND THE GERMAN FEDERAL STATE OF BADEN-WÜRTTEMBERG. THE DISPUTE RELATED TO THE SALE OF EDF’S STAKE IN POWER COMPANY, ENERGIE BADEN-WÜRTTEMBERG, TO NECKARPRI AND THE STATE OF BADEN-WÜRTTEMBERG. THE CLAIMANTS ARGUED THAT THE PURCHASE PRICE REFLECTED AN ELEMENT OF STATE AID WHICH, SUBSEQUENTLY, CONSTITUTED A VIOLATION EUROPEAN LAW. THE TRIBUNAL DISMISSED BOTH CLAIMS.
> ICSID, 4 MAY 2016: MONTENEGRO HAS SUCCESSFULLY DEFENDED CLAIMS BROUGHT BY NETHERLANDS INVESTORS, MNSS B.V. AND RECUPERO CREDITO ACCIAIO N.V. IN A DISPUTE REGARDING A BANKRUPT STEEL PLANT IN MONTENEGRO. THE CLAIMANTS ACCUSED THE STATE OF INTERFERING WITH THE OPERATION AND MANAGEMENT OF THE PLANT AND DISCRIMINATORY TREATMENT ONCE THE PLANT WENT BANKRUPT. THE CLAIMS WERE DISMISSED BY THE TRIBUNAL ON THE GROUNDS OF JURISDICTION AND THE MERITS OF THE CLAIM. > THE HAGUE DISTRICT COURT, 20 APRIL 2016: THE INFAMOUS USD 50 BILLION YUKOS AWARD, AWARDED BY THE PERMANENT COURT OF ARBITRATION, WAS SET ASIDE BY THE HAGUE ON THE GROUNDS THAT THE ARBITRAL TRIBUNAL DID NOT HAVE JURISDICTION. THE ARBITRATION WAS BROUGHT AGAINST RUSSIA, UNDER THE ENERGY CHARTER TREATY (ECT), BY MAJORITY SHAREHOLDERS IN THE YUKOS OIL COMPANY. > P ARIS COURT OF APPEAL, 12 APRIL 2016: MOLDOVA WAS SUCCESSFUL IN THEIR APPEAL TO THE PARIS COURT OF APPEAL TO SET ASIDE A USD 49 MILLION ENERGY CHARTER TREATY AWARD, ON THE GROUNDS OF JURISDICTION, DELIVERED BY AN UNCITRAL TRIBUNAL IN FAVOUR OF UKRAINE’S KOMSTROY. THE DISPUTE RELATED TO A POWER SUPPLY AGREEMENT BETWEEN THE UKRAINIAN ENERGY COMPANY AND THE STATE, WHEREIN THE COMPANY WAS CONTRACTED TO SUPPLY ELECTRICITY TO STATE-OWNED ENTERPRISE, MOLDTRANSELECTRO. THE DISPUTE AROSE WHEN THE STATE FAILED TO PAY FOR THE ELECTRICITY.
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