The tribunal determined that Stans prevailed on jurisdiction and on the merits of its claim, awarding Stans a sum of approximately US $24 Million inclusive of damages, interest, and costs.
Anglo-Russian businessman Grigoriy Guselnikov, the bank’s former owner who sold his shares, has brought a request for international arbitration against Latvia.
Spain will have to pay EUR 41 million to German solar investor SolEs Badajoz GmbH for retroactively cutting long-term premiums for renewable energy projects.
In May 2017, out of 613 cases brought under the ICSID Convention and Additional Facility Rules, 135 cases involved African states, of which 45% were brought based on states’ consent in BITs.