The broad language in investment agreements has allowed investor-state dispute settlement tribunals to scrutinize tax measures adopted by States, and determine that such measures resulted in a breach of State’s obligations under the agreement.
The Permanent Court of Arbitration has announced a partial arbitration decision in favor of PrivatBank and against Russia. The question of the amount of compensation is left for the next stage of the arbitration proceedings.
The company’s Canadian and British subsidiaries have already announced their intention to initiate arbitration proceedings against Armenia in accordance with bilateral agreements if the matter is not resolved.
The Jeju provincial government has revoked the business license of a Chinese-owned for-profit hospital. The Chinese group may file a suit against the Korean government, using the investor-state dispute settlement system.