AMIC Energy, an Austrian private equity firm, is threatening to sue Ukraine based on the Energy Charter Treaty after its assets were seized by Kyiv over the company’s close ties to Russia.
The Bureau of Economic Security of Ukraine (ESBU) seized the assets of one of Ukraine’s largest fuel retailers, AMIC Ukraine, the local subsidiary of AMIC Energy, an Austrian private equity firm.
On September 30, 2022, Russian President Vladimir Putin purported to annex four Ukrainian provinces : Luhansk, Donetsk, Kherson, and Zaporizhzhia. This escalation is likely to trigger investment treaty claims against Russia.
Unsatisfyingly, ISDS permits international investment law to exist in a vacuum that enables those tasked with adjudicating disputes to turn a blind eye to international humanitarian law norms.
Russia’s top lender Sberbank initiated investment arbitration proceedings against Ukraine after its parliament approved a presidential decree allowing for the forced seizure of Sberbank-owned assets in the country.
SREW N.V., an open joint-stock company registered in Belgium, which owns 75% of the charter capital of Dnipro-Buzka wind plant LLC, has initiated arbitration against Ukraine.
The Ukrainian owners of Lithuania’s air defense systems developer and producer LiTak-Tak has submitted a claim to the Lithuanian government, saying they will turn to international arbitration if no deal is reached within six months.
The Paris Court of Appeal has set aside a $1.1 billion award against Russia for the expropriation of the Crimean branch of Ukrainian state-owned bank Oschadbank.