The government has spent over Rs2 billion to win a case in the international court over the acquisition of assets of Progas Pakistan Limited company – worth Rs2.3 billion.
More than 300 experts, including high-level negotiators of international investment agreements and representatives from intergovernmental organizations, civil society, academia and the private sector convened in Geneva.
A majority tribunal at the International Centre for Settlement of Investment Disputes awarded Caratube International Oil Company LLP USD 39.2 million plus interest for the unlawful expropriation of its oil contract rights by Kazakhstan.
Businessman Michael Lee-Chin has served notice that he intends to submit to arbitration a claim against the government of the Dominican Republic seeking to recover more than US$300 million in damages for expropriating his investment in that country.
The legal row between Stati, his son Gabriel, two family-controlled companies and the Republic of Kazakhstan has dragged on for years in various courts.
A British investment group has demanded USD 500 million from Russia and accused the country of state-sponsored corporate theft in a battle for control of a Siberian coal mine.
More than 40 governments met as part of a working group of the UN Commission on International Trade Law (UNCITRAL) to discuss reforms to the investor-state dispute settlement system.