The Government of India and the Government of Andhra Pradesh are facing an arbitration suit due to the cancellation of bauxite mining approvals in Visakhapatnam. This is the latest in a series of legal actions by foreign investors in the country.
India has introduced provisions in the just-concluded bilateral investment protection and promotion agreement (BIPPA) with the United Arab Emirates to ensure that only executive decisions can be challenged and that too within a stipulated period.
UAE companies that have invested in Egypt may stand to lose millions of dollars as the state runs an investigation into alleged corruption by former government officials who sold land and assets to investors below market prices, lawyers say.
Damac Properties is to fight the conviction of its chairman on Egyptian corruption charges by filing a case with the International Center for Settlement of Investment Disputes (ICSID), the company announced yesterday.
Colombia’s decision to ban mining activities in the Páramos, a range of environmentally sensitive wetlands that provide approximately 70% of the country’s water supply, has so far led to three treaty-based arbitration cases.
Investors holding billions of dollars in defaulted Venezuelan bonds have formed at least one bondholder committee, which could signal an eventual legal dispute similar to the dispute with Argentina after it defaulted on its sovereign debt in early 2002.