The broad language in investment agreements has allowed investor-state dispute settlement tribunals to scrutinize tax measures adopted by States, and determine that such measures resulted in a breach of State’s obligations under the agreement.
The Permanent Court of Arbitration has announced a partial arbitration decision in favor of PrivatBank and against Russia. The question of the amount of compensation is left for the next stage of the arbitration proceedings.
Ukraine’s Oschadbank has been awarded $1.3 billion by an international arbitration court in respect of the bank’s claims against Russia to compensate for loss of business and assets in Crimea following Moscow’s annexation of the peninsula in 2014.
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.