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Indonesia and Switzerland seeks to accelerate investments under new bilateral investment treaty
The 2022 BIT offers several important advances compared to the 1974 BIT, providing greater certainty and protection for investors.
French court clears Cyprus on FBME case
France’s highest court has brought an end to the $1.4 billion legal battle over the resolution of FBME Bank, ruling that the Central Bank of Cyprus acted prudently and did not breach any obligations under a bilateral investment treaty between Cyprus and Lebanon.
Pilatus Bank owner’s case against Malta for millions in damages moves forward
The case filed by former Pilatus Bank Chair Ali Sadr Hashemi Nejad against Malta in an international tribunal, disputing the decision to close the bank, is moving forward.
German player to pursue multibillion-euro arbitration over Russia energy assets
The “de-facto expropriation of Wintershall’s interests in Russian gas ventures was formalised in December 2023 when President Putin issued decrees invalidating gas sale contracts and transferring assets to Russian companies.
Discussions on draft provisions on damages in the investor-state dispute settlement system in UNCITRAL Working Group III
This paper summarizes the discussions within the United Nations Commission on International Trade Law Working Group III on the reform of investor-state dispute settlement regarding the two draft provisions on damages.
Spain suffers energy award setback in US
Three energy companies took a step closer to enforcing their respective Energy Charter Treaty-related arbitral awards in a US appellate court, but the saga is far from over.
US court rules against Argentina in Aerolíneas Argentinas expropriation trial
The country must pay US$340 million for the 2008 “unlawful expropriation” of its flag carrier.
Why Nigerian presidential aircraft was seized
Three Nigerian presidential aircraft have been seized in France and Switzerland due to a long-standing legal dispute between Zhongshan, a Chinese company, and Ogun State Government over managing an export processing zone.
Chinese investor seizes Nigerian govt properties in UK
Two Nigerian properties located in the United Kingdom are on the verge of being taken over by a Chinese investor following an order granting the investor the right to enforce a $70 million investment treaty award against Nigeria.
Intra-EU awards are still valid and enforceable outside the EU
Two recent decisions by the Swiss Federal Tribunal and the US Court of Appeal for the District of Columbia Circuit confirmed that international law does not offer arguments to contest either arbitral jurisdiction or the validity of arbitral awards in intra-EU investment cases.