Work Area: Investor-state dispute settlement

A loss and a win for Peru in arbitration proceedings

A US infrastructure group has won a US$177 million International Chamber of Commerce (ICC) award against a Peruvian government agency over a terminated project to build rural telecoms networks, as the Andean state announces it has defeated a US$97 million treaty claim by an oil investor.

25 August 2022

CFE reaches deal to end pipeline disputes

A Canadian energy infrastructure group says it has reached a deal with a Mexican state utility to develop a new US$4.5 billion offshore natural gas pipeline, bringing an end to a pair of London Court of International Arbitration (LCIA) claims relating to existing onshore pipelines.

11 August 2022

Peru sees off bulk of arbitration claim over motorway project

Peru says it has knocked out most of a US$150 million International Centre for Settlement of Investment Disputes (ICSID) claim by a construction contractor over a delayed project to improve a stretch of the Pan-American Highway.

18 July 2022

Ecuador liable for moral damages in oilfield dispute

An UNCITRAL tribunal has ordered Ecuador to pay US$11 million to a Singaporean company in an oil field dispute, including moral damages for its “malicious” behaviour in a related criminal proceeding.

10 June 2022

Spanish agribusiness wins big arbitration against Venezuela

A divided International Centre for Settlement of Investment Disputes (ICSID) tribunal has ordered Venezuela to pay nearly US$3 billion including interest for expropriating the assets of a Spanish agricultural group, after US sanctions forced a law firm representing the state to withdraw.

29 March 2022

Court upholds Occidental fine over Ecuadorean oil field

A US court has confirmed an award requiring Occidental Petroleum to pay more than US$500 million to its Chinese-owned former partner in an oil block in Ecuador, rejecting arguments that an arbitrator’s failure to disclose a professional relationship with a member of the award creditor’s counsel team amounted to a “fraud”.

22 November 2021

Assignee of arbitration award seeks to collect from Argentina

A Delaware entity that acquired the rights to a US$320 million International Centre for Settlement of Investment Disputes (ICSID) award against Argentina has applied to enforce it in the US in the wake of a dispute with the administrators of the original claimants.

31 August 2021

Ecuador in “default” as stay on Perenco arbitration award is lifted

Bahamian oil company Perenco says Ecuador has defaulted on an undertaking to pay a US$391 million International Centre for Settlement of Investment Disputes (ICSID) award, as a US court lifts a stay on its enforcement.

03 August 2021

Pharma investor’s arbitration award against Ecuador upheld

A Dutch court has upheld a US pharmaceuticals company’s US$53 million investment treaty award against Ecuador, dismissing arguments that the arbitrators took on the role of a final appeal court when they held the state liable for a denial of justice.

28 June 2021

US insurer puts Chile on notice of arbitration

A US insurance group has threatened Chile with an investment treaty claim over private pension reform.

20 May 2021

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