The Paris Court of Appeal has recently sought a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty in the ongoing Republic of Moldova v. Komstroy case.
An arbitration tribunal ruled against Canadian company Edgewater Exploration in its long-standing legal battle with Spain related to the Corcoesto gold project in the northwestern region of Galicia.
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank’s ICSID in 2018.
Global companies are positioning themselves to use little-known rules in trade agreements to claim millions of dollars in compensation for restrictions imposed during the pandemic.
Governments’ emergency actions in the wake of COVID-19 could prompt a wave of arbitration lawsuits for billions of dollars by multinational corporations and investment lawyers.
The tribunal granted Turkmenistan’s application for security for costs, ordering the claimant to post US$3 million in security as a condition to the continuation of the arbitration.
The tribunal dismissed all claims against Turkmenistan brought by a Turkish investor, Lotus Holding Anonim Sirketi, under the Energy Charter Treaty and the Turkey-Turkmenistan bilateral investment treaty.