INTERNATIONAL ARBITRATION 1/3LY
NOTABLE C A SES
> US DI S TRI CT COURT FOR THE SOUTHERN DI S TRI CT OF NEW YORK , 26 MAY 2016 : AN OIL CONSORT I UM, WHI CH I S BE ING LED BY ROYAL DUTCH SHELL AND INCLUDES ENI , EXXONMOBIL AND TOTAL , HA S APPL IED TO A US COURT FOR THE ENFOR CEMENT OF A USD 1.4 BILL ION AWARD AGA INST THE NIGERI AN NAT IONAL PE TROLEUM CORPORAT ION, AF T ER THE FEDERAL HIGH COURT IN ABUJA SUSPENDED THE ARBI TRAT ION IN 2012 . THE PART I AL AWARD WA S MADE IN 2013 IN REL AT ION TO A PRODUCT ION-SHARING CONTRACT FOR THE DEEPWAT ER BONGA OIL F IELD IN THE NIGER DELTA . > UNCI TRAL , 6 MAY 2016 : A UNCI TRAL TRIBUNAL CHA IRED BY BERNARD HANOT I AU HA S RULED THAT ECUADOR PAY OVER USD 30 MILL ION TO US COMPANY, MURPHY OIL , AF T ER F INDING THAT THE COUNTRY ’ S 99% LE V Y ON WINDFALL OIL PROF I T S BRE ACHED THE US - ECUADOR BIL AT ERAL INVESTMENT TRE AT Y. THE LE V Y WA S ORIGINALLY SE T AT 50% HOWE VER , FOLLOWING THE INCRE A SE IN OIL PRI CES , WA S SUBSEQUENT LY RA I SED TO 99% IN 2007. > I CC , 6 MAY 2016 : FRANCE ’ S EDF HA S DEFE AT ED CL A IMS BROUGHT BY STAT E- OWNED ENT I T Y, NECK ARPRI , AND THE GERMAN FEDERAL STAT E OF BADEN-WÜRT T EMBERG. THE DI SPUT E REL AT ED TO THE S ALE OF EDF ’ S STAKE IN POWER COMPANY, ENERGIE BADEN-WÜRT T EMBERG, TO NECK ARPRI AND THE STAT E OF BADEN-WÜRT T EMBERG. THE CL A IMANT S ARGUED THAT THE PUR CHA SE PRI CE REFLECT ED AN ELEMENT OF STAT E A ID WHI CH , SUBSEQUENT LY, CONST I TUT ED A V IOL AT ION EUROPE AN L AW. THE TRIBUNAL DI SMI SSED BOTH CL A IMS .
> I CS ID, 4 MAY 2016 : MONT ENEGRO HA S SUCCESSFULLY DEFENDED CL A IMS BROUGHT BY NE THERL ANDS INVESTORS , MNSS B. V. AND RECUPERO CREDI TO ACCI A IO N. V. IN A DI SPUT E REGARDING A BANKRUP T ST EEL PL ANT IN MONT ENEGRO. THE CL A IMANT S ACCUSED THE STAT E OF INT ERFERING WI TH THE OPERAT ION AND MANAGEMENT OF THE PL ANT AND DI SCRIMINATORY TRE ATMENT ONCE THE PL ANT WENT BANKRUP T. THE CL A IMS WERE DI SMI SSED BY THE TRIBUNAL ON THE GROUNDS OF JURI SDI CT ION AND THE MERI T S OF THE CL A IM. > THE HAGUE DI S TRI CT COURT, 20 APRIL 2016 : THE INFAMOUS USD 50 BILL ION YUKOS AWARD, AWARDED BY THE PERMANENT COURT OF ARBI TRAT ION, WA S SE T A S IDE BY THE HAGUE ON THE GROUNDS THAT THE ARBI TRAL TRIBUNAL DID NOT HAVE JURI SDI CT ION. THE ARBI TRAT ION WA S BROUGHT AGA INST RUSS I A , UNDER THE ENERGY CHART ER TRE AT Y ( ECT ) , BY MA JORI T Y SHAREHOLDERS IN THE YUKOS OIL COMPANY. > PARI S COURT OF APPE AL , 12 APRIL 2016 : MOLDOVA WA S SUCCESSFUL IN THE IR APPE AL TO THE PARI S COURT OF APPE AL TO SE T A S IDE A USD 49 MILL ION ENERGY CHART ER TRE AT Y AWARD, ON THE GROUNDS OF JURI SDI CT ION, DEL I VERED BY AN UNCI TRAL TRIBUNAL IN FAVOUR OF UKRA INE ’ S KOMSTROY. THE DI SPUT E REL AT ED TO A POWER SUPPLY AGREEMENT BE T WEEN THE UKRA INI AN ENERGY COMPANY AND THE STAT E , WHERE IN THE COMPANY WA S CONTRACT ED TO SUPPLY ELECTRI CI T Y TO STAT E- OWNED ENT ERPRI SE , MOLDTRANSELECTRO. THE DI SPUT E AROSE WHEN THE STAT E FA ILED TO PAY FOR THE ELECTRI CI T Y.
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