Swedish utility Vattenfall has no legal grounds to ask a US arbitration court if it can claim 4.7 billion euros from Berlin for forcing it to halt nuclear production, the German government has said.
A recent decision under the Energy Charter Treaty by France’s highest court appears to signal a return to a literal interpretation by the French courts of international treaties.
US court issued its ruling in favor of the plaintiffs in Stati et al. v. Rep. of Kazakhstan, a long-running litigation concerning the Stati Parties’ efforts to enforce a $520 million arbitral award under the Energy Charter Treaty.
The tribunal found that Novenergia’s investments were achieving a reasonable rate of return. However, the tribunal held that it was sufficient for the claim to succeed that Novenergia could show “quantifiable prejudice” compared with its position when it initially made its investment.
One tribunal could interpret the effect of legislative provisions differently to another. So while Eiser opens up the prospect of more claims, Blusun may narrow the basis for claims.
With the global financial crisis, solar power incentives schemes became unbearably costly and Spain repealed those incentives. Consequently, many investors brought arbitration claims under the Energy Charter Treaty.
Despite the fact that the ECT was initiated and designed by the EU, there are compelling grounds to doubt the compatibility of the ECT’s arbitration clause with the principles underpinning the EU’s judicial system.
In a second international ruling against retroactive cuts in renewables support introduced by the Spanish government in 2013, a Swedish arbitration panel has awarded a Luxembourg-based investment firm €53 million compensation.
Karima Sauma, especialista en arbitraje internacional, asistente del árbitro internacional Rodrigo Oreamuno y directora ejecutiva del Centro Internacional de Conciliación y Arbitraje de AmCham Costa Rica.
In amending the current rules, the ICSID aims to ultimately make the procedure less paper-intensive by using technology for the digital transmission of documents and case procedures.
South Korean state owned power utility Kowepo has begun international arbitration proceedings against India in Singapore for not honouring a fuel supply commitment to its Maharashtra power plant.
Climate campaigners are demanding that European Union countries pull out of the treaty unless they can negotiate an end to the pact’s investor-state dispute mechanism.