Moldovan businessman Anatolie Stati will ask bailiffs to sell a $5.2 billion stake in the Kashagan oil field owned by a Kazakh sovereign wealth fund if Astana refuses to pay a $500 million arbitration award.
The recent Eiser v. Spain ICSID award is yet another example of a state being condemned to pay a large monetary sum merely because an investor has been economically disadvantaged by a reasonable and necessary regulatory change.
Pensés au départ pour pallier le manque de stabilité des investissements dans des pays réputés instables, les mécanismes d’arbitrage international se sont peu à peu érigés en véritables vecteurs d’influence pour les entreprises.
The preferential protection of bilateral investments between Tanzania and the Netherlands is likely to cease next month but the protection for investments made before the date of termination continues to apply for a period of 15 years (until 1 April 2034).
It has taken a second FOI case and another two years to reveal that Australian taxpayers were only awarded half of the costs of defending Australia’s tobacco plain packaging laws against tobacco giant Philip Morris in March 2017.