The Economic Community of West African States has called for the creation of a Regional Arbitration Forum as an Alternative Dispute Resolution Mechanism to boost its economic potentials.
A group of major shareholders in dismantled Russian oil giant Yukos announced they were giving up their efforts to seize lucrative state assets as compensation in France following a series of legal setbacks.
This article will focus on SOEs acting as claimants with a brief contextual examination of their role as ‘respondents’ to support the conclusion that SOEs will always have standing as claimants under ICSID.
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.
The tribunal ruled that the investor did not have a head office in Luxembourg and had abused its rights to “give the impression that it had a Luxembourg head office”
An ICSID Arbitral Tribunal ordered Kazakhstan to pay Caratube USD 39.2 million in damages, plus USD 1,207,757.44, and well over 10 million USD in interest.