Middle East

States from the Middle East have concluded about 600 investment deals. 44 ISDS cases have been brought against Middle Eastern countries, while investors from the region have initiated 44 cases as well.

In 2013, Al-Kharafi & Sons Co., investors from Kuwait, were awarded US$935 million under the Unified Agreement for the Investment of Arab Capital in the Arab States, in a dispute over a land-leasing contract for a tourism project in Libya, making it one of the largest known awards to date. They had only invested about US$5 million but the arbitration tribunal decided that Libya also had to compensate for profits that would have been made during the 90-year leasing contract and were now lost.

Photo: President of Azerbaijan / CC BY 4.0

(April 2020)

Azatutyun | 1-Jul-2024
A Cyprus-registered shell company that owns a minority stake in Armenia’s largest mining enterprise has filed a $1.2 billion lawsuit against the Armenian government.
Armenews.com | 1-Jul-2024
Une société écran enregistrée à Chypre et détenant une participation minoritaire dans la plus grande entreprise minière d’Arménie a intenté une action en justice d’un montant de 1,2 milliard de dollars contre le gouvernement arménien.
L’Orient Le Jour | 27-Jun-2024
La société J&P Avax, qui avait cessé les travaux de construction de cette nouvelle centrale électrique, réclamait une indemnisation de 417 millions d’euros.
CDR | 8-Apr-2024
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.
The News | 5-Apr-2024
The caretaker government had ratified the draft of FTA, including the Bilateral Investment Treaty (BIT).
Gulf News | 13-Feb-2024
The Kuwaiti company Agility gets another opportunity to reclaim its legacy investment in an Iraqi telecom firm. The charges brought by Agility relate to more than $380 million in diverted funds.
The News | 17-Jan-2024
Pakistan has negotiated to include a graduated approach for settlement of investment disputes between the state and investors.
Al Habtoor | 10-Jan-2024
Emirati conglomerate Al Habtoor Group served a notice of an Investment Treaty Dispute against the Lebanese Republic in connection with Lebanon’s breaches of the Bilateral Investment Treaty between the United Arab Emirates and Lebanon.
The Express Tribune | 20-Dec-2023
Pakistan has emerged triumphant in the arbitration initiated by Tuwairqi Steel against the federation at the Permanent Court of Arbitration in The Hague, Netherlands.
The Express Tribune | 13-Dec-2023
Pakistan concluded a settlement agreement with Ozpak, a Turkish company, in longstanding arbitration proceedings pending in the International Centre for Settlement of Investment Disputes.