ISDS Case Map
Latvia
In late 2021, RSE filed a lawsuit against Latvia, claiming that the amendments made to the electricity support regulation between 2012 and 2016 violated international obligations.
The US-based company Providence Equity Partners claims that certain actions by national public service regulator SPRK indicate a possible violation of the bilateral investment agreement between the US and Latvian governments.
A company registered in Switzerland, RSE Holding AG, has initiated an international arbitration proceeding against Latvia claiming that changes effected to the regulatory framework applicable to electricity produced in high-efficiency cogeneration are in breach of European rules.
The ICSID in the case Eugene Kazmin v. Latvia issued its Award discontinuing the arbitration and ordering the Claimant, Ukrainian citizen Kazmin, to bear the costs of the proceeding.
The case KVV Liepājas metalurgs owner Yevgenij Kazmin had against the state of Latvia has been put on hold, according to information from the State Chancellery.
A recent ICSID tribunal has denied an investor’s claim concerning the development of an airport project in Latvia, which may have wider implications for infrastructure projects that may now be under feasibility reviews as a result of the Covid-19 pandemic.
E Energija received an award of EUR 3.1 million, following ICSID’s April 8 rejection of Latvia’s appeal for annulment of the tribunal’s 2018 award.
Anglo-Russian businessman Grigoriy Guselnikov, the bank’s former owner who sold his shares, has brought a request for international arbitration against Latvia.
Latvia has made an application for annulment of an arbitral award in the case of UAB “E energija” (Lithuania) v. Republic of Latvia.
Latvia must compensate E-energija EUR 3.7 million for investment abuse in the district heating business.
