The tribunal appointed by the ICSID has issued a procedural order that denies a request made by the Republic of Turkey to bifurcate the arbitration proceeding.
An updated European Commission proposal to reform the Energy Charter Treaty is falling short of what’s needed to reinstate governments’ “right to regulate” in areas like climate change, activists say.
The Paris Court of Appeal has recently sought a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty in the ongoing Republic of Moldova v. Komstroy case.
An arbitration tribunal ruled against Canadian company Edgewater Exploration in its long-standing legal battle with Spain related to the Corcoesto gold project in the northwestern region of Galicia.
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank’s ICSID in 2018.
Global companies are positioning themselves to use little-known rules in trade agreements to claim millions of dollars in compensation for restrictions imposed during the pandemic.
Governments’ emergency actions in the wake of COVID-19 could prompt a wave of arbitration lawsuits for billions of dollars by multinational corporations and investment lawyers.