A shareholder from the United Kingdom of the company Progas Pakistan has initiated international arbitration proceedings of $573 million against Pakistan for alleged expropriation of its LPG infrastructure in Karachi and the government has decided to vigorously contest the case.
Argentina has agreed to settle five separate investment treaty arbitration claims at a cost of around USD 500 million, in an historic departure from the Latin American state’s refusal to comply with awards made by international investment treaty arbitration bodies.
The Turkish power firm Karkey Karadeniz Elektrik Uretim (KKEU) has approached the Washington based International Centre for Settlement of Investment Disputes (ICSID) against Pakistan’s water and power ministry and also served a Rs33billion damage notice on the ministry, sources said on Wednesday.
Argentina’s Supreme Court revoked a US$19 billion embargo on the assets and future income of Chevron Corp.’s Argentina subsidiary, giving the US oil giant a victory in a decades-old battle with indigenous groups in Ecuador.
A US-funded energy firm, Lone Pine Resources, is using investor rights provisions in the North American Free Trade Agreement (NAFTA) to challenge Quebec’s 2011 moratorium on hydraulic fracturing for natural gas.
The World Bank’s International Center for the Settlement of Investment Disputes has handed down a ruling against the Ecuadorian government, finding that it “unlawfully expropriated” U.S. firm Burlington Resources’ investments in two oil blocks.
A US-incorporated energy firm, Lone Pine Resources Inc., is taking on Quebec’s stand against fracking, saying it violates the North American free-trade agreement and demanding more than $250-million in compensation.
Swedish energy giant Vattenfall will take advantage of an "extraordinarily powerful legal tool" now available to the world’s corporations to sue the German government for phasing out nuclear power, it was confirmed this week.
Imperial Tobacco is working on available legal instruments of protection, including an international investment arbitration tribunal, to contest a fine imposed by Ukraine for anticompetitive concerted actions.
For the Kingdom, Carlyle did not justify the existence of investments in Morocco. The American group invokes the Morocco-United States free trade agreement while the contracts with Samir concern entities based in the Cayman Islands.
Pour le Royaume, Carlyle n’a pas justifié l’existence d’investissements au Maroc. Le groupe américain invoque l’accord de libre-échange Maroc-Etats-Unis alors que les contrats avec la Samir concernent des entités basées aux îles Caïmans.