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Middle East

States from the Middle East have concluded about 600 investment deals. 44 ISDS cases have been brought against Middle Eastern countries, while investors from the region have initiated 44 cases as well.

In 2013, Al-Kharafi & Sons Co., investors from Kuwait, were awarded US$935 million under the Unified Agreement for the Investment of Arab Capital in the Arab States, in a dispute over a land-leasing contract for a tourism project in Libya, making it one of the largest known awards to date. They had only invested about US$5 million but the arbitration tribunal decided that Libya also had to compensate for profits that would have been made during the 90-year leasing contract and were now lost.

Photo: President of Azerbaijan / CC BY 4.0

(April 2020)

Belgium firm to sue Turkey over Gülen-linked assets
Ahval | 13-Mar-2018
The claim alleges that Cascade’s investment’s in a media services company were unlawfully expropriated by the Turkish state in the crackdown that followed the coup attempt of July 2016.
Belgium , investor-state disputes | ISDS , services , Turkey
Arbitrator: EMG due $1.03b from Egypt over canceled gas contract
Haaretz | 19-Feb-2018
Decision comes six years after supplies were halted, forcing EMG shareholder Ampal into bankruptcy.
Egypt , energy , investor-state disputes | ISDS , Israel
Samsung Engineering settles dispute with Oman, ISDS withdrawn
Korea Bizwire | 29-Jan-2018
Samsung Engineering’s longstanding dispute with the government of Oman has been resolved, and industry insiders expect the resolution to lead to increased business activity between the two down the road.
investor-state disputes | ISDS , Korea , Oman
Hamid Gharavi and Melanie van Leeuwen secure a third consecutive victory against Kazakhstan for a US$ 30 million award
Derains & Gharavi | 29-Nov-2017
An ICSID tribunal has ordered Kazakhstan to pay nearly US$25 million for the seizure of investments at the port of Aktau on the Caspian Sea.
ECT , energy , investor-state disputes | ISDS , Kazakhstan , Turkey
Samsung Engineering files ISDS suit over Saudi power plant
Korea Herald | 20-Nov-2017
Samsung Engineering has filed an investor-state dispute settlement suit against Saudi Arabia over changes made to its power plant construction contracts for Yanbu Industrial City.
energy , investor-state disputes | ISDS , Korea , Saudi Arabia
Pakistan gets stay on $800m Karkey penalty
The Express Tribune | 13-Nov-2017
Pakistan has successfully gotten a stay order from the International Centre for Settlement of Investment Disputes (ICSID) over the execution of an $800 million award to Karkey Karadeniz Elektrik Uretim (Karkey).
energy , investor-state disputes | ISDS , Pakistan , Turkey
Privinvest announce ICC ruling in favour of Hellenic shipyards in dispute with Hellenic Republic
PR Newswire | 6-Oct-2017
Hellenic Republic is found liable towards Hellenic Shipyards for more than 200 million Euros at the ICC while shareholders are pursuing the Hellenic Republic at the ICSID pursuant to the relevant Bilateral Investment Treaty.
Greece , investor-state disputes | ISDS , Lebanon
La Grèce condamnée à payer plus de 200 millions d’euros à la société Hellenic Shipyards
PR Newswire | 6-Oct-2017
La CCI condamne la République Grecque à payer à Hellenic Shipyards plus de 200 millions d’euros tandis qu’un arbitrage devant le CIRDI sur la base du Traité bilatéral d’investissement applicable est en cours.
Greece , investor-state disputes | ISDS , Lebanon
Pakistan’s ‘corruption claims overlooked’ in RPP arbitration
The Express Tribune | 2-Oct-2017
Senior government officials have claimed that the International Centre for Settlement of Investment Disputes (ICSID) overlooked Pakistan’s claim of corruption while deciding in favour of Karkey Karadeniz Elektrik Uretim over a rental power project (RPP) dispute.
energy , investor-state disputes | ISDS , Pakistan , Turkey
The disaster of international arbitration of RPPs
The Express Tribune | 23-Sep-2017
The arbitral tribunal of the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) has rendered an arbitral award of $700 million against Pakistan.
energy , investor-state disputes | ISDS , Pakistan , Turkey