Russian Fund for the Protection of Investors’ Rights in Foreign States | 14-May-2019
The Fund for Protection of Investors’ Rights in Foreign States sent an notice of arbitration against Lithuania for the illegal expropriation of the Bank “Snoras”, in accordance with the investment agreement between the Russian Federation and the Republic of Lithuania.
EU plans to extend its internal energy market rules to Russia’s Nord Stream 2 natural gas link to Germany could breach the Energy Charter Treaty, which protects international investors, according to the Swiss-registered company building it.
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.
The move followed a ruling of the Permanent Court of Arbitration that the Russian government must compensate almost two dozen Ukrainian companies for their losses incurred from the illegal annexation of Crimea in 2014.
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 European Court of Justice on June 18 canceled a European Commission decision dating 2015, which established that Romania’s payment of compensation to Romanian-Swedish investors Ioan and Viorel Micula constituted illegal state aid. The European Commission also ordered the Romanian Government to recover the money already paid to the investors following an international court’s decision.
Hungary has filed to annul an award of some EUR 73 million, before interest, to French food voucher company Sodexo, granted in an arbitration ruling by the World Bankʼs International Center for Settlement of Investment Disputes (ICSID), state news agency MTI reported, citing case information on ICSIDʼs website.
Qatar International Court and Dispute Resolution Center (QICDRC) on Sunday entered into a pact with a World Bank body as part of plans to enhance its profile in the global judicial system and establish itself as a hub for dispute resolution.