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.
El Ministerio de Finanzas entregará a la petrolera francesa Total bonos por 210 millones de dólares para finalizar el juicio que la compañía mantenía contra el país en el tribunal arbitral dependiente del Banco Mundial.
AngloGold Ashanti joined Acacia Mining in entering into arbitration over legislative changes in Tanzania which entitles the East African country’s government to renegotiate business agreements with mining firms.