Tag: expropriation

Russian Investors Turning More Frequently to Investment Arbitration

Russian Investors Turning More Frequently to Investment Arbitration

In 2016 the Russian Federation has most commonly appeared on the host state’s end of investor-state disputes, facing numerous arbitration claims brought in relation to the events in Crimea. However, quite recently Russia has also become more involved as a home state, with Russian investors becoming more active in investor-state disputes. This post highlights the […]

By 22 November, 2016 0 Comments Read More →
Iurii Bogdanov, Agurdino-Invest Ltd. and Agurdino-Chimia JSC v. Republic of Moldova

Iurii Bogdanov, Agurdino-Invest Ltd. and Agurdino-Chimia JSC v. Republic of Moldova

An investor filed the SCC arbitration claim alleging indirect expropriation after the Moldova’s Customs Department supposedly restricted the operations of claimant’s paint-manufacturing company in a so-called free economic zone. The tribunal rendered the decision on 31 January 2006 in favour of the State. The award is available here. Bogdanov and Agurdio Invest v.Moldova (SCC 2005)

AIG Capital Partners, Inc. and CJSC Tema Real Estate Company v. Republic of Kazakhstan

AIG Capital Partners, Inc. and CJSC Tema Real Estate Company v. Republic of Kazakhstan

AIG Capital Partners arises out of a Request for Arbitration by AIG Capital Partners Inc  and CJSC Tema Real Estate Company requesting for arbitration of an “investment dispute” with the Republic of Kazakhstan. The claim in the Request for Arbitration arises out of the alleged expropriation of the Claimants‟ investment in a Real Estate Development […]

Metal-Tech Ltd. v. Republic of Uzbekistan

Metal-Tech Ltd. v. Republic of Uzbekistan

In 2000, Metal-Tech, an Israeli public company manufacturing molybdenum products, formed a joint venture with two state-owned companies in Uzbekistan to build and operate a plant for the production of molybdenum products. Metal-Tech was to contribute its technology, know-how, and access to international markets, as well as part of the financing needed for a new […]

The Yukos Arbitration Decision in a Nutshell

The Yukos Arbitration Decision in a Nutshell

Here is a short summary of the most important points of the Yukos arbitration award which former shareholders are now trying to enforce in Belgium, France and other European countries. Diana Bentley of Lexis Nexis interviewed Yaraslau Kryvoi. What was the dispute about? The tribunal, the Permanent Court for Arbitration, constituted under UNCITRAL Rules and based in […]

Arbitrations against Ukraine and its State Bodies in Post-Revolution Period

Arbitrations against Ukraine and its State Bodies in Post-Revolution Period

2014 was one of the most difficult years in the contemporary history of Ukraine in both political and economic terms. The country lived through the Revolution of Dignity in February, the annexation of Crimea in March, the ongoing military conflict in eastern Ukraine and deep financial and economic crisis. In order to counter these difficulties and to […]

French Judgment Unenforceable Because of Lack of Legal Certainty

French Judgment Unenforceable Because of Lack of Legal Certainty

In January 2015 the Russian Supreme Court refused to enforce the Resolution of Paris Appellate Court No. RG 09/19535 dated 18 November 2010 on the collection of EUR 150,000 from the Government of Kaliningrad Region for the Republic of Lithuania. The case highlights the importance of a foreign judge giving reasons in a clear way in order for the decision to be […]

Kyrgyz Republic’s Mixed Fortunes in Investment Arbitration

Kyrgyz Republic’s Mixed Fortunes in Investment Arbitration

The Kyrgyz Republic found itself on the receiving end of a flurry of investment arbitration claims a couple of years ago. While it has since successfully resolved a number of cases, it has also lost several times. This post looks at two important recent developments. The first one is three awards rendered against the Kyrgyz […]

The Value of Expropriated Oil Assets Arbitrated at ICDR Y&I Seminar in Moscow

The Value of Expropriated Oil Assets Arbitrated at ICDR Y&I Seminar in Moscow

On 26 September the International Centre for Dispute Resolution Young & International (ICDR Y&I) held a seminar on damages in international arbitration on the premises of the Independent Arbitration Chamber, Moscow. The discussion focused on two issues: (i) valuation date and (ii) pre-award interest. Ms Noradèle Radjai (member of the Executive Board of ICDR Young […]

By 29 September, 2013 0 Comments Read More →
Moldova Gets a Mixed Result in the First ICSID Arbitration against it

Moldova Gets a Mixed Result in the First ICSID Arbitration against it

On 8 April 2013, the tribunal rendered an award in Arif v Moldova, the first ICSID arbitration against Moldova, which commenced several months after it had ratified the ICSID Convention. The tribunal (Cremades, Hanotiau, Knieper) rejected the majority of the investor’s claims, but found that Moldova had in one instance violated the obligation to provide fair […]

Tokios Tokeles v. Ukraine

Tokios Tokeles v. Ukraine

Tokios Tokeles v Ukraine, ICSID Arbitration (No. ARB:02:18), 29 June 2004

Newly Released Arbitration Award Says Yukos Was Expropriated

Newly Released Arbitration Award Says Yukos Was Expropriated

An arbitral tribunal in Stockholm concluded in an award released yesterday that tax assessment measures taken against Yukos were arbitrary and discriminatory. The proceedings were instituted by a group of Spanish investors in 2007. The award also confirmed that the claimant’s expenses in the arbitration were entirely funded by the Menatep Group (Yukos’ majority shareholder) which […]

ICSID Tribunal: Kyrgyzstan Judiciary’s Decisions Amounted to Expropriation

ICSID Tribunal: Kyrgyzstan Judiciary’s Decisions Amounted to Expropriation

The importance of an ICSID award rendered in a case which involved Kyrgyzstan goes beyond the facts of the case and covered topics such as the corruption of state officials, expropriation through judicial action and calculation of the value of expropriated property in the absence of comparable transactions in Central Asia. In 2005 the Kyrgyz […]

Paushok et al. v. Mongolia: Windfall Profit Tax and Immigration Requirements Compatible with FET Standard

Paushok et al. v. Mongolia: Windfall Profit Tax and Immigration Requirements Compatible with FET Standard

In a recently published award a tribunal found that the windfall profit tax introduced by Mongolia as well as introduction of a penalty for exceeding the limit on employment of foreign nationals were compatible with the FET standard established by the Mongolia-Russia BIT. On the other hand, the tribunal found that the conduct of Mongolian […]

GEA v. Ukraine: an Arbitral Award is not an Investment

GEA v. Ukraine: an Arbitral Award is not an Investment

In a recently published award in GEA Group Aktiengesellschaft v. Ukraine, an ICSID Tribunal found that an arbitral award for the recovery of money (due under an agreement treated as an investment) does not in itself constitute an investment (para 162). The Tribunal further held that if failure to enforce an award may constitute expropriation, […]

The European Court of Human Rights: an Arbitration Award Can Be Expropriated

The European Court of Human Rights: an Arbitration Award Can Be Expropriated

The European Court of Human Rights recently ruled in Kin-Stib & Majkic v. Serbia that failure to enforce an arbitral award amounts to violation of the right to peaceful enjoyment of possession. This note first summarizes the ruling and then considers its implications. In particular, it discusses whether an arbitral award can be expropriated by […]

By 9 December, 2010 0 Comments Read More →
The Yukos Legal Insurgency

The Yukos Legal Insurgency

When former Yukos shareholders promised a “life-long litigation” for their assets, very few took it seriously. After all, until recently there have been no precedents of successful enforcement of arbitration awards against the Russian Federation. But this perception has been changing over the last last few months, with Yukos shareholders advancing on at least three […]

By 7 December, 2010 1 Comments Read More →