Squire Patton Boggs has successfully defended the Republic of Estonia against a US$100 million investment treaty claim brought by Estonian water provider AS Tallinna Vesi and its Dutch shareholder United Utilities.
Tallinn water utility Tallinna Vesi has seen its claim against the Estonian state overruled by the International Centre for the Settlement of Investment Dispute (ICSID), and has been ordered to pay costs likely to be in excess of half a million euros.
The hearings of the international arbitration proceedings between AS Tallinna Vesi and the Republic of Estonia will be held from November 7th – 11th November 2016 and on November 14th – 15th, 2016 in Paris, France.
Despite debates about crisis in investment treaty arbitration, most emerging market economies are concluding BITs that provide for ISDS and emerging market multinational companies appear to welcome ISDS.
India has a faced a number of claims from foreign investors over the years under the BIT regime. It is presently engaged in over 20 investor-State disputes, with a number of them revolving around retrospective tax claims.