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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)

Rental power: Government in talks for out-of-court settlement
Business Recorder | 22-Apr-2019
Pakistan government is reportedly in talks with the Turkish government and M/s Karkey for an out-of-court settlement to avert attachment of Pakistan’s properties in Europe
energy , investment | BITs , investor-state disputes | ISDS , Pakistan , Turkey
Bulgaria says Oman has withdrawn arbitration claim over Corpbank
Reuters | 19-Apr-2019
Oman’s sovereign wealth fund has withdrawn an 80 million euro claim against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank), the Bulgarian finance ministry said.
Bulgaria , finance | banking | taxes , investor-state disputes | ISDS , Oman
Court orders removal of Amulsar mine protesters
Armenian Weekly | 18-Apr-2019
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.
Armenia , Canada , investor-state disputes | ISDS , mining , UK
Lydian International submits notices to the Government of Armenia under bilateral investment protection treaties
Proactiveinvestors | 12-Mar-2019
The company said illegal blockades have prevented access to the Amulsar gold project since late June 2018.
Armenia , Canada , investor-state disputes | ISDS , mining , UK
South Korean Government’s assets about to be seized
Business Korea | 20-Feb-2019
Iran’s Dayyani group started a procedure to seize the South Korean government’s assets in the Netherlands after winning its investor-state dispute against it. This is the first time that such a procedure has been initiated against the South Korean government.
investor-state disputes | ISDS , Iran , Korea
Turkish RPP ship: Pakistan breathes $900mn sigh of relief
Express Tribune | 8-Feb-2019
Pakistan said to have gathered fresh ‘evidence of corruption’ in the procurement of a rental power project (RPP) contract by the Turkish company.
energy , investor-state disputes | ISDS , Pakistan , Turkey
Karkey case posing ”attachment” threat to assets abroad: Cabinet meets today
Business Recorder | 17-Jan-2019
The federal cabinet is expected to approve supplementary grant of $ 1.37 million on to contest cases filed by M/s Karkey in courts of different countries as Pakistan’s assets abroad are facing "attachment" threat.
energy , investor-state disputes | ISDS , Pakistan , Turkey
Westwater announces acceptance of its request for arbitration
Business Wire | 3-Jan-2019
At issue is Turkey’s taking of Westwater’s Temrezli and Şefaatli uranium projects in June 2018.
investor-state disputes | ISDS , mining , Turkey , US
Tratado de Protección y Promoción de Inversiones entre Argentina y Qatar
Argentina Mejor Sin TLC | 28-Dec-2018
El Tratado mantiene amplios derechos para los inversores, incluidos algunos de los que usan con más frecuencia para demandar a los Estados: Trato Justo y Equitativo, la Expropiación Indirecta, el Trato Nacional y el Trato de Nación Más Favorecida.
Argentina , investment | BITs , investor-state disputes | ISDS , Qatar
Westwater files international arbitration request against Republic of Turkey
AP | 14-Dec-2018
Westwater Resources, an energy materials development company, announced the filing of a request for arbitration against the Republic of Turkey for the taking of its Temrezli and Şefaatli uranium projects in June 2018.
investor-state disputes | ISDS , mining , Turkey , US