India’s Prime Minister’s Office (PMO) has asked the commerce ministry to examine the model text of the bilateral investment treaty and suggest modifications to further improve the ease of doing business.
Romania has placed a lien on over 80% of the shareholding held by Gabriel Resources in Roșia Montană Gold Corporation to recover its $10 million arbitration costs incurred over a 9-year process in Washington.
The subject of the arbitration is given as ‘transportation fare collection services’, and invokes the 2001 bilateral investment treaty between Turkey/Türkiye and Yugoslavia as the basis for the claim.
International investment agreements enable corporations to sue foreign governments for loss of profits. The sums they demand can be so huge that even the threat of a claim is enough to make governments cave in.
Switzerland pursues a new bilateral investment treaty with India post EFTA deal, addressing model treaty concerns.India remains reluctant on concessions, focusing on market.
Although a universal and uniform framework regulating arbitrators’ conduct is useful, its impact may be limited due to limited implementation prospects and the absence of punitive measures.
The Dutch Supreme Court denied an appeal by Russia against the seizure of the rights to the Stolichnaya and Moskovskaya vodka brand names for the Benelux market by the former shareholders of now-defunct oil producer Yukos.