The government risks losing up to Sh500 billion in an international arbitration case against mining firm, Cortec, after it failed to provide Sh100 million in the second mini-budget to pay a UK-based law firm representing it in the case.
Colombia’s decision to ban mining activities in the Páramos, a range of environmentally sensitive wetlands that provide approximately 70% of the country’s water supply, has so far led to three treaty-based arbitration cases.
A Jamaican investor served the government of the Dominican Republic with a notice of arbitration surrounding the state takeover of a recycling facility and waste-to-energy plant.
Investors holding billions of dollars in defaulted Venezuelan bonds have formed at least one bondholder committee, which could signal an eventual legal dispute similar to the dispute with Argentina after it defaulted on its sovereign debt in early 2002.
A report reveals that the recent Achmea ruling by the European Court of Justice could render investment agreements between the European Union or its Member States and non-EU countries illegal.
A recent decision under the Energy Charter Treaty by France’s highest court appears to signal a return to a literal interpretation by the French courts of international treaties.