United Utilities (Tallinn) B.V. and Aktsiaselts Tallinna Vesi v. Republic of Estonia
In 2001, at the request of Estonia, United Utilities (Tallinn) BV made an investment in AS Tallinna Vesi by purchasing 50.4% of the shares in the Company.
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This was a part of Estonia’s privatisation of AS Tallinna Vesi. The privatisation was sponsored and closely supervised by the European Bank for Reconstruction and Development (EBRD). Since parties were unable to find a solution to the dispute, the Company proceed to arbitration under the Treaty protection signed between he Republic of Estonia and the Kingdom of the Netherlands.
Pursuant to ICSID Arbitration Rules 19 and 20, and further to consultation with the parties so as to ascertain their views on the matters addressed herein, the Tribunal issued the first Procedural Order.
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