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  • Title: Hungary sees another compensation demand after ending Power Purchase deals at EU behest; UNCITRAL tribunal convened - Investment Arbitration Reporter (IAReporter)
    Descriptive info: You are here:.. Hungary sees another compensation demand after ending Power Purchase deals at EU behest; UNCITRAL tribunal convened.. publication date:.. Sep 2, 2009.. Previous.. |.. Next..  .. By Luke Eric Peterson.. Caught between the demands of the executive branch of the European Union and the terms of contracts earlier concluded with power generation companies, the Republic of Hungary is facing a growing number of compensation claims from foreign energy firms.. An.. investigation finds that Electricite de France (EDF) International is the third multinational energy firm known to be suing Hungary for breach of its investment protection treaty obligations.. EDF requested arbitration in May of this year, alleging Hungary to have breached investor protections contained in the Energy Charter Treaty.. Recently, an arbitral tribunal has been convened to hear the case.. Prof.. Karl-Heinz Boekstiegel will chair the proceeding which takes place under the UNCITRAL procedural rules.. EDF nominated Prof.. Pierre-Marie Dupuy to the tribunal, and Hungary nominated Prof.. Albert Jan van den Berg.. *.. As with earlier-filed arbitration claims by Electrabel and AES, EDF takes issue with a ruling by the European Commission which declared that long-term power purchase agreements (PPAs) concluded between the Hungarian state-owned company MVM and various Hungary-based electricity producers amount to illegal state aid under EU rules.. As previously reported, the European Commission has pressed for the termination of these PPAs, which were entered into in the mid 1990s, prior to Hungary s accession to the European Union.. **.. The EC gave Hungary until the end of 2008 to terminate the PPAs, and to recoup from the power generators those revenues which they could not have obtained from the market without PPAs.. In turn, the parties to these PPAs have objected that the upsetting of such agreements runs counter to investment protection commitments owed by Hungary to foreign investors.. In the parallel  ...   brought to arbitration under the Energy Charter Treaty are a growing phenomenon, even if all such claims are not disclosed to the public.. As revealed earlier in.. , the Swedish energy company Vattenfall is currently suing the German Government under the ECT.. Also, last year, a Cyprus-based energy trader filed an ECT claim against the Republic of Poland.. The European Commission has reacted with some alarm to this recent trend of intra-EU arbitration.. ** Already, the Commission has sought to intervene in the Electrabel and AES cases against Hungary at ICSID.. Although the Commission refuses to disclose the details of the arguments it has filed in those cases, it is understood that they have voiced concerns as to potential frictions between the demands of EU law and commitments made in international investment protection treaties.. * Prof.. Boeckstiegel s practice is profiled here:.. http://www.. iareporter.. com/articles/20091008.. van den Berg s practice encompasses a large volume of currently-pending treaty-based cases, including Chevron v.. Ecuador, GEA v.. Ukraine, and a number of other cases which were mentioned in our profile of his practice in this.. January 22, 2009 report.. Meanwhile, Prof.. Dupuy s past investment treaty arbitration practice has included service as arbitrator in the Oxus Gold v.. Kyrgyzstan, Noble Ventures v.. Romania, CIT Group v.. Argentina, and I I Beheer v.. In terms of pending cases, he is known to sit as arbitrator in AES v.. Argentina and Daimler Financial Services v.. Argentina.. ** For our past reporting on the AES and Electrabel claims against Hungary click.. here.. and.. Investment Arbitration Reporter is a specialized news publication tracking developments in the area of international investment law and policy.. The publication does not offer legal or financial advice or recommendations of any kind.. To offer news-tips or comments, email the Editor, Luke Eric Peterson, at:.. editor@iareporter.. com.. Back to top..

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  • Title: New awards and decisions available, including earlier-reported Costa Rica award and expert opinions from Argentina arbitrations - Investment Arbitration Reporter (IAReporter)
    Descriptive info: New awards and decisions available, including earlier-reported Costa Rica award and expert opinions from Argentina arbitrations.. Jun 27, 2010.. A number of new primary documents have entered the public domain in recent weeks.. The final ICSID arbitral award in the Anderson and Others v.. Costa Rica case was added to our website on June 18th.. Click here to download.. Earlier, we had reported on the outcome of the Costa Rica case in  ...   style claim brought by Canadians who complained that the Republic of Costa Rica was liable for losses suffered in a Ponzi-style investment scheme.. Our earlier reporting on the Costa Rica award is.. available here.. Also of interest, a series of expert opinions from ICSID foreign investor arbitrations (El Paso, Sempra, Metalpar, and Camuzzi) against Argentina have been published on our colleague Prof.. Andrew Newcombe s website.. Click here to view these documents..

    Original link path: /articles/20100701
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  • Title: NGO produces paper on web-casting of international economic law adjudication - Investment Arbitration Reporter (IAReporter)
    Descriptive info: NGO produces paper on web-casting of international economic law adjudication.. Jul 2, 2010.. The Centre for International Environmental Law (CIEL) had just published a briefing paper which surveys the use of web-casting technologies by international economic law adjudication bodies.. The survey comes on the heels of the successful use of the technology by the International Centre for Settlement of Investment Disputes (ICSID) in the recent Pacific Rim v.. El Salvador arbitration.. The paper is available here:.. ciel.. org/Publications/Webcasting_21Jun10.. pdf..

    Original link path: /articles/20100709
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  • Title: Turkey prevails in Uzan-related $19 Billion arbitration claim; Dutch national unable to prove legal ownership of disputed telecoms firm - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Turkey prevails in Uzan-related $19 Billion arbitration claim; Dutch national unable to prove legal ownership of disputed telecoms firm.. Jul 19, 2010.. In a decision issued on July 14, 2010, arbitrators at the International Centre for Settlement of Investment Disputes (ICSID) have declined jurisdiction over a $19 Billion claim lodged against the Republic of Turkey.. The ruling serves to halt a claim brought by a Dutch individual Mr.. Saba Fakes, arising out of the expropriation of an alleged majority shareholding in the Turkish telecoms company, Telsim.. Indeed, arbitrators deemed the claim a frivolous one and ordered the claimant to bear Turkey s legal and arbitration costs.. The dismissal of the ICSID claim marks the latest in a string of victories for Turkey in a large number of arbitral claims filed by persons or companies close to the Uzan business empire in the aftermath of that family s clash with Turkish authorities.. (For background on the arbitrations spawned by this clash, see these articles*).. Ultimately, the claim by Mr.. Fakes foundered as a result of the tribunal s determination that a purported transfer of legal ownership of the majority stake in Telsim was a superficial gesture which did not transfer the relevant legal rights much less constitute an investment which warranted protection under the Netherlands-Turkey bilateral investment treaty (BIT).. For his part, Mr.. Fakes had claimed that Mr.. Hakan Uzan arranged for the transfer of legal ownership of the latter s majority stake in Telsim on the eve of the Turkish government s move to seize the company as part of a wide-ranging fraud investigation.. Mr.. Fakes readily conceded that the beneficial ownership was to be retained by Mr.. Uzan, a Turkish citizen, even as the legal rights were transferred to a Dutch national.. However, arbitrators took a more sceptical view of the transaction and rejected the contention that (even the) legal ownership had been transferred to Mr.. Fakes.. As such, the effort to sue Turkey for breach of the Netherlands-Turkey BIT collapsed due to Mr.. Fakes inability to demonstrate that he had made an investment meeting the three criteria identified by the ICSID tribunal as requisites for any ICSID claim: a contribution, some element of risk, and a certain duration.. Tribunal revisits debate on definition of investments in ICSID system.. In reaching its decision, the three member tribunal** revisited the well-worn debate as to whether there is some autonomous or objective definition of investment under the ICSID arbitration system.. ***.. As chronicled in our past reports, tribunals have differed as to whether assets which meet the (often-broad) definition of investment under an investment protection treaty must still meet a further set of criteria imposed (implicitly) by the ICSID Convention.. Some tribunals have held that the ICSID Convention leaves it entirely to the parties including in their negotiated investment treaties to define what constitutes an investment eligible for arbitration at the Washington-based Centre.. Other arbitrators take the view that the ICSID system imposes its own requirements, even as there is considerable debate as to what these criteria are.. For their part, the tribunal in the Saba Fakes v.. Turkey case ruled that there are certain autonomous requirements imposed by the ICSID system.. However, in so doing, they identify a mere 3 characteristics drawn from the wider constellation of requirements which have been imposed in certain ICSID cases.. While stressing that an investment eligible for ICISD arbitration must be characterized by a contribution, an element of risk, and a certain duration in time, the tribunal added that there is.. no.. need to demonstrate that an investment contributed to the economic development of the host country, or that it had been made in good faith or in conformity with local law.. This autonomous, but minimalist, test will not come as a surprise to close observers of the ICSID system, as tribunal President Emmanuel Gaillard has written several articles focusing on this particular question, in addition to setting forth his views in previous arbitrations.. **** In particular, he has inveighed against the suggestion that ICSID-eligible investments must display some contribution perhaps even a significant one to the economic development of the host state.. *****.. Arbitrators take narrow view of compliance with local law requirement in BIT.. Also of interest, the tribunal held that the ICSID Convention is neutral on the question of whether transactions must have been made in compliance with the law of the host state in order to qualify as an investment.. Rather, arbitrators ruled that it is for bilateral investment treaties to impose further legality requirements if parties wish to condition consent to arbitration on such a  ...   Netherlands, even as the tribunal indicated that all signs pointed to his having effective ties with that country.. Claimant ordered to bear Turkey s costs.. In common with several other dismissed claims against Turkey by Uzan family associates, the Saba Fakes award also orders the claimant to bear Turkey s legal and arbitration costs.. The former amounted to 1,496,248.. 49 Million (USD), while the latter amounted to some 365,000 (USD).. At an earlier stage of the proceeding, Turkey had urged the tribunal to oblige the claimant to post certain funds with ICSID in case an award of costs should be ordered in Turkey s favour at the conclusion of the proceeding.. However, as has become commonplace in such cases, arbitrators declined to make such an order.. Counsel for Turkey, Hamid Gharavi, in comments to.. welcomed the costs order.. However, Mr.. Gharavi noted that collection of such sums can be difficult particularly where tribunals refrain from ordering claimants to post funds during the life-span of the arbitration.. Gharavi also noted that frivolous claims against states, including those at ICSID, can enjoy extended life due to the lack of any serious evidentiary burden on the claimants during the early stages of such claims to prove ownership or control of the relevant assets.. Gharavi s Paris-based boutique firm Derains Gharavi represented Turkey, while Dutch firm Houthoff Buruma acted for the claimant.. * For background on Uzan-related claims see this link:.. com/articles/20090924_21.. Our reporting on the outcome of two of these cases, the Europe Cement and Cementownia cases at ICSID, can be found here:.. com/articles/20091007.. com/articles/20091020.. Our brief report on the dismissal of two Uzan-related UNCITRAL claims is here:.. com/articles/20100709_6.. ** Arbitrators are: Emmanuel Gaillard, Hans van Houtte, Laurent Levy.. For profiles of their respective work see these links respectively:.. com/articles/20091222_6.. ,.. com/articles/20091124_6.. , and.. com/articles/20100205_8.. *** See this recent.. story for some background on the debate over the definition of investments eligible for arbitration at ICSID:.. com/articles/20100709_5.. **** See our report on the Pey Casado v.. Chile award here:.. com/articles/20091001_94.. ; See also, Prof.. Gaillard s recent article: Identify or define? Reflections on the Evolution of the Concept of Investment in ICSID Practice , in International Investment Law for the 21st Century: Essays in Honour of Christoph Schreuer, Oxford University Press 2009.. ***** See our report on the MHS Malaysian Salvors v.. Malaysia case, where Prof.. Gaillard acted for the claimant, here:.. com/articles/20090922_1.. ****** See our report on the Mobil v.. Venezuela ruling at ICSID here: http://www.. com/articles/20100616_9.. ******* See this link for our earlier report on the as-yet unpublished challenge ruling relating to Mr.. Levy:.. com/articles/20091001_78.. Related Articles:.. BRIEFLY NOTED: Annulment sought in RSM v.. Grenada and Siag & Vecci v.. Egypt cases at ICSID.. BRIEFLY NOTED: United States seeks public input into Model Bilateral Investment Treaty review process.. Group of academics calls for investment law regime change; investment treaty protections should give way to contract-based protection.. ANALYSIS: Does independence of judgment demand dissents in some cases?.. Poland liable for breach of Germany-Poland BIT; Arbitrators grappling with damages in UNCITRAL proceeding.. ICSID panel interprets narrow-looking jurisdictional clause so as to permit arbitration over alleged expropriation (in Peru).. ICSID round-up: tribunals picked in Kazakh and Macedonia cases.. Arbitrators order that (Bolivian) criminal proceedings be suspended.. Tribunals convened in ICSID cases involving Turkmenistan, Ukraine and Venezuela.. NYU/Georgetown Events in April.. Jurisdictional Decision in Paraguay case now available.. Details come to light of final ruling in German investor’s arbitration with Ghana; fraud allegations do not preclude jurisdiction, but could be relevant to merits.. Government (of Canada) prevails in NAFTA Chapter 11 arbitration; claimant (Merrill & Ring) weighing options.. ANALYSIS: Some actions affecting German investor are not attributable to Republic of Ghana; others don’t give rise to treaty violations.. Government views vary widely on eve of meeting to discuss transparency in UN arbitration rules.. Chile moves to annul award in dispute over Pinochet-era expropriation of newspaper; separate revision process also running.. Ad-hoc arbitration tribunal is hearing German investor’s claims against Czech Republic following bankrupting of investment project.. Investor in Guatemala railway dispute outlines details of CAFTA claim.. Another ICSID tribunal orders that Ecuador refrain from chasing foreign oil company for windfall tax payments.. ICSID tribunals picked in CEMEX v.. Venezuela and Deutsche Bank v.. Sri Lanka arbitrations.. US businessmen are latest to bring Poland to international arbitration.. BRIEFLY NOTED: ICSID registers claim under US-Ukraine BIT in relation to poultry dispute.. ICSID tribunal declines to suspend Repsol v.. Ecuador case, as parties pursue renegotiation of contract.. Rwanda hires lawyers to defend tea estate dispute with U.. company; arbitral tribunal is selected to hear case..

    Original link path: /articles/20100802
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  • Title: Another Argentine crisis award is annulled; ICSID committee strikes down $100+ Million verdict in favour of Enron Corporation - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Another Argentine crisis award is annulled; ICSID committee strikes down $100+ Million verdict in favour of Enron Corporation.. Aug 2, 2010.. A review panel at the International Centre for Settlement of Investment Disputes (ICSID) has annulled a 2007 arbitral award rendered in favour of the Enron corporation and Ponderosa Assets L.. P.. (hereinafter Enron ) in a dispute arising out of the Argentine financial crisis.. The July 30, 2010 ruling by a three-member ad-hoc annulment committee is the second in recent months to find serious fault with the work of a prior arbitration tribunal in a case involving the Republic of Argentina.. The developments will give further consolation to the Argentine government which has long protested that its defence of necessity was given short shrift in a number of early ICSID arbitrations.. At the same time, the decision is likely to stir further unease amongst those foreign investors and law firms who have engaged in a protracted effort to obtain compensation from Argentina for losses arising out of that country s response to a financial crisis earlier this decade.. In light of this latest decision, arbitrators in ongoing Argentine cases may be expected to glance nervously over their shoulders - and to devote additional attention to their analysis of Argentina s customary international law defence of necessity.. The ad-hoc committee in the Enron v.. Argentina case consists of Gavan Griffith (President), Judge Patrick L Robinson, and Judge Per Tresselt.. Arbitrators in the original arbitration were Prof.. Francisco Orrego Vicuna (President), Prof.. Albert Jan van den Berg, and Pierre-Yves Tschanz.. Arbitrators failed to apply customary international law tests.. It is well-established that Argentina took a series of emergency measures which impacted negatively upon foreign investors, including those in the country s public utilities sectors.. Foreign investors turned to arbitration en masse in the aftermath of the crisis, alleging that freezes on public service rates and other restrictions served to breach contract and licensing promises, as well as the protections of various bilateral investment treaties.. In Enron s case, the now-bankrupt US firm invested in Argentina in the 1990s, taking a stake in the newly-privatized natural gas transportation and distribution sector.. Enron maintained that its investment in Transportadora de Gas del Sur (TGS) were later thrown into financial disequilibrium when Argentina forbade utility companies from raising tariff rates so as to compensate for the precipitous decline in the Argentine Peso.. For its part, Argentina has maintained that any treaty breaches found to have arisen by arbitral tribunals must be excused on the basis of the state s having introduced its emergency measures out of economic necessity in the face of a dire financial crisis.. In some cases, Argentina has fallen back on the necessity defence available to all states under customary international law.. At other times, notably in cases involving US-based investors, the government has also invoked an additional (novel) provision found in Article XI of the US-Argentina bilateral investment treaty, and which provides that the treaty will not preclude the application by either Party of measures necessary for the maintenance of public order or the protection of its own essential security interests.. In a May, 2007 arbitral award*, a panel of ICSID arbitrators found that Argentina s treatment of Enron breached several protections in the US-Argentina BIT, even as they rejected an argument that the investment was effectively expropriated by Argentina.. However, an ICSID annulment committee has now struck down this award, holding that arbitrators in the Enron v.. Argentina case failed to apply the various legal elements of the test used to assess the necessity of a state s actions under customary international law.. This failure also infected the tribunal s further analysis of whether Argentina was entitled to a separate defence under a much-debated provision of the US-Argentina bilateral investment treaty.. In turn, these holdings meant that the tribunal had to annul the decision of the tribunal that Argentina had breached its treaty obligations to provide fair and equitable treatment and observe its obligations to Enron (under the so-called umbrella clause).. **.. Upon annulling these portions of the arbitral award, the committee also determined that it was obliged to annul the tribunal s damages assessment as well which served to strip the claimant of a $106 Million+ (US) pay-day.. (Of some consolation for foreign investors, if not Enron itself, the ad-hoc committee rejected a number of annulment arguments put forward by Argentina including that the claimant should not have been able to bring an ICSID claim due its holding its Argentine investments via an indirect chain of corporate ownership and that the initial tribunal failed to state the reasons for finding that Argentina breached the so-called umbrella clause in the US-Argentina BIT.. **).. Committee identifies a series of instances where tribunal failed to apply the  ...   economic experts as to whether Argentina contributed to its economic crisis, without having applied customary international law.. Ultimately, as noted above, the tribunal s failure to apply the applicable law (customary international law in this instance) also gave rise to a knock-on problem for its reading of Article XI of the US-Argentina bilateral investment treaty.. Because the tribunal had held that the effect of this clause was similar to the customary international law defence of necessity, the tribunal had leaned upon its analysis of the latter for purposes of applying Article XI of the BIT.. In turn, this led the annulment committee to find fault with the tribunal s application of Article XI as well.. (Of particular note, the annulment committee took pains to stress that it did not find any grounds to annul the tribunal s more basic finding that Article XI had a similar meaning to the necessity defence under customary international law.. In stark contrast with the views of an earlier ICSID annulment committee in the CMS v.. Argentina case which excoriated arbitrators for essentially conflating the two concepts - the committee in the Enron case felt that it was wholly for the initial arbitral tribunal to pass judgment on the content of Article XI and its.. relationship.. to the customary international law standard.. The committee noted that it could, of course, pass judgment on whether the tribunal manifestly exceeded its powers or failed to state its reasons for reaching the conclusions that it did.. Putting the decision in context.. At first glance, the annulment of the Enron award marks the latest in a string of upheavals which have lent some uncertainty to the resolution of disputes between Argentina and foreign investors.. The June 29, 2010 annulment ruling*** in the Sempra v.. Argentina case came as a particular shock to many observers, not least as the ICSID s review process is touted as a limited one which does not subject awards to a full appeal or provide for mere errors of law to be overturned.. However, viewed in context, the annulment of the Sempra award, as well as the sharp criticism (but non-annulment) of an earlier award in the CMS v.. Argentina case, both pertained to a legal approach spearheaded by a single tribunal chairman: Prof.. Francisco Orrego Vicuna.. What s more, annulment committees took issue (to different degrees) with a failure of Prof.. Orrego Vicuna and his co-arbitrators to take seriously Article XI of the US-Argentina BIT as a stand-alone defence separate from the necessity defence under customary international law.. In this sense, criticism of the Sempra and CMS awards seemed of less relevance to the myriad of other claims against Argentina, a number of which arise out of differently-drafted investment treaties.. While it might be tempting to view the annulment of the Enron v.. Argentina award, as yet another instance where an annulment committee has simply found problems with Prof.. Orrego Vicuna s approach to the US-Argentina BIT, it should be stressed that the recent Enron annulment decision hinges on the interpretation and application of the.. customary international law.. defence of necessity a defence which is relevant to the full cross-section of Argentine crisis arbitrations.. For this reason, the committee s reasoning will likely give pause to arbitrators presiding in the fuller range of financial crisis arbitrations against Argentina under both US and European treaties with Argentina.. While hardly assuring Argentina of victory in future cases, the Enron decision could ensure that the Argentine government receives a more detailed accounting of the various facets of the customary international law necessity defence.. ****.. As for Enron, the claimant or more accurately, the Enron Creditors Recovery Corporation, which succeeded to Enron s ICSID claim last year - could initiate a new arbitration and try its luck before a new tribunal.. It will be of particular interest to see whether Enron (and Sempra) take such a course, or whether they give up on the ICSID after their respective set-backs.. * The May 2007 award can be found here:.. http://ita.. law.. uvic.. ca/documents/Enron-Award.. ** So-called umbrella clauses oblige treaty-parties to observe other (non-treaty) obligations they may have entered into elsewhere.. In one earlier Argentine case at ICSID, an ad-hoc annulment committee annulled a portion of an arbitral award in the CMS v.. Argentina case because the original tribunal had failed to clarify in its award how CMS, a US national, could claim for breach of obligations which were owed to a separate Argentina company (in which CMS had invested).. *** See our recent report on the Sempra decision here:.. com/articles/20100630.. **** Indeed, proponents of arbitral minimalism should be advised that the committee made clear its view that arbitrators may need to address certain interpretive issues that were not briefed by the parties to the dispute..

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  • Title: NYU Investment Law Forum events to resume on September 20th - Investment Arbitration Reporter (IAReporter)
    Descriptive info: NYU Investment Law Forum events to resume on September 20th.. Aug 5, 2010.. The Investment Law Forum sessions at New York University will resume again on September 20th.. These public seminars provide a forum for the academic community as well as practitioners, policymakers and activists to discuss new developments in international investment law.. On Sept 20th, the series will kick off with a presentation by French law professor and practitioner Emmanuel  ...   George A.. Bermann of Columbia Law School; and Joseph H.. H.. Weiler, a Visiting Professor at a Columbia Law School.. All Forum sessions take place in the Pollack Colloquium Room, Furman Hall Room 900, located at 245 Sullivan Street in New York City.. For more information on Prof.. Gaillard s upcoming talk, as well as future Forum sessions, visit the website of the International Institute for Law and Justice at:.. iilj.. org..

    Original link path: /articles/20100818
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  • Title: Tribunal chosen to hear pharma company’s claim that it suffered denial of justice due to foreign court’s handling of prescription drug lawsuits - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Tribunal chosen to hear pharma company’s claim that it suffered denial of justice due to foreign court’s handling of prescription drug lawsuits.. An arbitral tribunal has been selected to hear a pair of claims lodged by the Canadian generic pharmaceutical company, Apotex Inc.. against the United States Government.. Apotex Inc.. alleges that the U.. is liable for breaches of foreign investment protections contained in Chapter 11 of the North American Free Trade Agreement (NAFTA).. The company contends that it finds itself in legal limbo due to a reluctance of the U.. Courts to provide the company with certainty as to its position in several patent disputes with brand-name pharmaceutical companies.. In earlier filings initiating the arbitration, the company says that the actions (and inactions) of the U.. Federal Courts give rise to a denial of justice and other breaches of the NAFTA.. Recently, a tribunal consisting of Toby Landau QC (Chair), Clifford M.. Davidson (claimant s nominee) and the Hon.. Fern Smith (U.. nominee) was constituted to hear the case.. Landau is a familiar player in investment treaty arbitration, working as counsel and arbitrator in numerous cases.. We profiled his professional activities in our April, 2009 report on the GEA v.. Ukraine arbitration where has sits as an arbitrator.. ** More recently, he has been selected  ...   by the law firm Rakoczy Molino.. The State Department s in-house NAFTA claims team is representing the US Government.. Background to dispute.. As we ve previously reported, Ontario-based Apotex Inc.. dispute with the U.. Government began in 2003 when Apotex filed papers with the U.. S Food and Drug Administration (FDA) setting in motion an approval process for a generic version of Pfizer Inc s popular antidepressant medication Zoloft.. However, Apotex contends that the District Court for the Southern District of New York dismissed a request by the company for a declaratory judgment against Pfizer a judgment which Apotex insists would have brought clarity to a muddled patent dispute.. Because the U.. courts declined to resolve Apotex s claim, the Canadian company complains that it was left in legal limbo, whilst a competitor firm got a head-start in producing a generic version of Zoloft.. The firm has since filed a second Notice of Arbitration for a second claim related to its efforts to produce a generic version of the prescription heart medicine pravastatin sodium (Pravachol).. Both claims will be heard by the recently-constituted arbitral tribunal.. * For our past reporting on the Apotex v.. USA claims click.. ** See.. this link.. for more on Mr.. Landau s practice.. *** For background on the Cambodia case, click..

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  • Title: Court declines to set aside NAFTA award; tribunal’s expansive view of investment encompasses sale of goods from parent to foreign subsidiary for purposes of onward sale - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Court declines to set aside NAFTA award; tribunal’s expansive view of investment encompasses sale of goods from parent to foreign subsidiary for purposes of onward sale.. Aug 28, 2010.. Can't view this article? If you are a subscriber, and we have your IP addresses on file, you  ...   corner of this page.. This will ensure you are "recognized".. If you are a subscriber, and you use a log-in ID and password for the site, please click.. If you are NOT a subscriber, why not join today? Learn more about.. subscriber benefits.. Click here to join..

    Original link path: /articles/20100830_8
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  • Title: NYU to hold panel discussion on UN World Investment Report’s discussion of International Investment Agreements - Investment Arbitration Reporter (IAReporter)
    Descriptive info: NYU to hold panel discussion on UN World Investment Report’s discussion of International Investment Agreements.. Sep 28, 2010.. The Investment Law Forum at New York University is to hold its next session on October 11, 2010.. Elisabeth Tuerk of the UN Conference on Trade and Development (UNCTAD) will lead  ...   World Investment Report 2010".. For more details and a list of panelists, visit their.. website.. FREE: Will the battle over Internet-filtering software play out on the investment treaty playing field?.. ICSID tribunals convened in Congo mining dispute, Serbian casino case, Tanzanian power plant dispute, and rematch between Sempra and Argentina..

    Original link path: /articles/20100928
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  • Title: NYU Investment Law Forum to discuss provisional measures on November 15th - Investment Arbitration Reporter (IAReporter)
    Descriptive info: NYU Investment Law Forum to discuss provisional measures on November 15th.. Nov 4, 2010.. The next (public) meeting of the Investment Law Forum at New York University will discuss the timely topic of "Provisional Measures in the ICJ and Investment Treaty Arbitration: Dialogue and Development".. Recent years have seen a proliferation of interim measures by arbitrators in investment treaty arbitrations, including in a series of high-profile arbitrations challenging the Republic of Ecuador  ...   orders have and raised questions as to the limits of arbitrator authority, and the prospects for host-government compliance.. The NYU event will feature a presentation by Donald Donovan, Partner with the law firm Debevoise Plimpton.. Discussants will be Prof.. Robert Howse of NYU s law school, and Ingo Venzke, a Hauser Research Fellow at the school.. For more information, and to register (at least 5 days in advance) write to: iilj@exchange.. nyu.. edu..

    Original link path: /articles/20101105_9
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  • Title: New Books and Articles on Investment Treaty Law: May to November 2010 - Investment Arbitration Reporter (IAReporter)
    Descriptive info: New Books and Articles on Investment Treaty Law: May to November 2010.. Nov 25, 2010.. As compiled by Prof.. Andrew Newcombe, University of Victoria.. Books.. Vivienne Bath Luke Nottage, eds.. , Foreign Investment and Dispute Resolution Law and Practice in Asia (Routledge, forthcoming October 2011).. Markus W.. Gehring, Marie-Claire Cordonier Segger Andrew Newcombe, eds.. , Sustainable Development in World Investment Law (Kluwer Law International, forthcoming November 2010).. Sauvant, Karl P.. , Yearbook on International Investment Law and Policy 2009-2010, (Oxford University Press, 2010).. Matthew Happold, James Dingemans QC Thomas Roe, Settlement of Investment Disputes under the Energy Charter Treaty (Cambridge University Press, forthcoming May 2011).. Herbert Kronke, et al.. , Recognition and Enforcement of Foreign Arbitral Awards: A Global Commentary on the New York Convention (Kluwer Law International, 2010).. Yaraslau Kryvoi, The International Center for Settlement of Investment Disputes (Kluwer Law International, 2010).. Ian A.. Laird Todd J.. Weiler, eds.. Investment Treaty Arbitration and International Law Volume 3 (JurisNet, 2010).. Martins Paparinskis, Basic Documents on International Investment Protection (Hart Publishing, forthcoming June 2011).. Jan Paulsson, The Revised UNCITRAL Rules (Kluwer Law International, forthcoming February 2011).. Monique Sasson, Substantive Law in Investment Treaty Arbitration.. The Unsettled Relationship between International Law and Municipal Law (Kluwer Law International, 2010).. Wenhua Shan, ed.. , The Legal Protection of Foreign Investment A Comparative Study (Hart Publishing, forthcoming July 2011).. Jan Ole Voss, The Impact of Investment Treaties on Contracts Between Host States and Foreign Investors (Martinus Nijhoff, 2010).. Book Reviews.. Joshua D.. Leaver, Book note.. (Reviewing Stephan W.. Schill, The Multilateralization of International Investment Law.. ) (2009) 20 Am.. Rev.. Int'l Arb.. 260.. Alham Usman, Book note.. (Reviewing Zachary Douglas, The International Law of Investment Claims.. 257.. Articles.. Muhammed Mustapha Akanbi, Privatization and commercialization of investments: how beneficial are they to developing economies in Africa? (June 2010) 11:3 J.. World Investment Trade.. Michael Albertus Victor A.. Menaldo, If You re Against Them You re with Us: The Effect of Expropriation on Autocratic Survival , online: (2010) SSRN http://ssrn.. com/abstract=1601138.. Alan M.. Anderson Bobak Razavi, The globalization of intellectual property rights: TRIPS, BITs, and the search for uniform protection (2010) 38 Ga.. J.. Int'l Comp.. L.. 265.. Alessandra Asteriti Christian J.. Tams, Transparency and Representation of the Public Interest in Investment Treaty Arbitration in Stephen W.. Schill, ed.. , International Investment Law and Comparative Public Law (Oxford University Press, forthcoming 2010), online: SSRN http://ssrn.. com/abstract=1618843.. Ardeshir Atai, Standard of Treatment of Foreign Investment in Iran (2009) 30:11 Company Lawyer 347, online: SSRN http://ssrn.. com/abstract=1617902.. Perry S.. Bechky, The Politics of Divestment in Tomer Broude, et al.. , eds.. , The Politics of International Economic Law (Cambridge University Press, 2010).. Joshua Briones Ana Tagvoryan.. Is international arbitration in Latin America in danger? (2010) 16 Law Bus.. Am.. 131.. Brown, The Relevance of the Doctrine of Abuse of Process in International Adjudication , online: (2010) Transnational Dispute Management http://www.. transnational-dispute-management.. com.. William W.. Burke-White Andreas von Staden, Private litigation in a public law sphere: the standard of review in investor-state arbitrations (2010) 35 Yale J.. Int'l L.. 283.. Tony Cole, Authority and contemporary international arbitration (2010) 70 La.. 801.. Tony Cole Madhur Agrawal, When is a Forum 'More Favourable'? The Use of MFN Clauses to Found an Investment Arbitration Tribunal s Jurisdiction , online: (2010) SSRN http://ssrn.. com/abstract=1674378.. David Collins, Applying the Full Protection and Security Standard of International Investment Law to Digital Assets , online: (2010) SSRN http://ssrn.. com/abstract=1672709.. Patrick Dumberry, "Are BITs Representing the 'New' Customary International Law in International Investment Law?" (2010) 28:4 Penn St.. Int l L.. Patrick Dumberry, The Last Citadel! Can a State Claim the Status of Persistent Objector to Prevent the Application of a Rule of Customary International Law in Investor-State Arbitration? (2010) 23:2 Leiden J.. 379, online: SSRN http://ssrn.. com/abstract=1597737.. Patrick Dumberry, "The Legal Standing of Shareholders before Arbitral Tribunals: Has Any Rule Of Customary International Law Crystallised?" (2010) 18:3 Mich.. St.. Wendy Nicole Duong, Revisiting the BOT Structure in Direct Foreign Investment Transactions , online: (2010) SSRN http://ssrn.. com/abstract=1651971.. Lanfang Fei, "Public Policy as a Bar to Enforcement of International Arbitral Awards: A Review of the Chinese Approach (2010) 26:2 Arb.. Int l 301.. Aaron Xavier Fellmeth, Below-market Interest in International Claims Against States (2010) 13 J.. Int l Econ.. 423.. Pradhuman Gautam, The Umbrella Clause: A Search for Greater Legal Certainty , online: SSRN http://ssrn.. com/abstract=1635145.. Christopher Gibson, A look at the compulsory license in investment arbitration: the case of indirect expropriation (2010) 25 Am.. U.. 357.. John P.. Given, Malaysia Historical Salvors Sdn.. , Bhd.. Malaysia: an end to the liberal definition of "investment" in ICSID arbitrations? (Malaysia Historical Salvors Sdn.. V.. Malaysia, ICSID (W.. Bank) Case No.. ARB/05/10, 2007.. ) (2009) 31 Loy.. Int l Comp.. 467.. Elliot Glusker, Arbitration hurdles facing foreign investors in Russia: analysis of present  ...   transacting around political risk in developing and transitioning economies through renewable energy foreign direct investment (2010) 33 Suffolk Transnat'l L.. 319.. Sahib Singh, Necessity in Investor-State Arbitration: The Sempra Annulment Decision , online: (2010) SSRN http://ssrn.. com/abstract=1660584.. Douglas M.. Spencer, Constitutional Commitments as an Investment Scheme , online: (2010) SSRN http://ssrn.. com/abstract=1634091.. Matthew Sweeney, Foreign direct investment in India and China: the creation of a balanced regime in a globalized economy (2010) 43 Cornell Int'l L.. 207.. D.. Tallent, State Responsibility by the Numbers: Towards an Understanding of the Prevalence of the Latin America Countries in Investment Arbitration , online: (2010) Transnational Dispute Management http://www.. Jörg Philipp Terhechte, Article 351 TFEU: The Principle of Loyalty and the Future Role of the Member States' Bilateral Investment Treaties , (January 2010) European Yearbook for Int l Econ.. com/abstract=1638357.. Christian Tietje, International Investment Protection Law and the Conflict of Interests Between State Sovereignty and the Protection of Individual Economic Interests (Internationales Investitionsschutzrecht Im Spannungsverhältnis Von Staatlicher Regelungsfreiheit Und Schutz Wirtschaftlicher Individualinteressen) (German) , online: (2010) SSRN http://ssrn.. com/abstract=1625265.. I.. Torterola D.. Di Pietro, Notes on the Requirement of Guarantees As A Condition for a Stay of Enforcement of ICSID Arbitral Awards , online: (2010) Transnational Dispute Management http://www.. Leon Trakman, Foreign Direct Investment: Hazard or Opportunity? (2009) 41 George Washington Int l L.. 1, online: SSRN http://ssrn.. com/abstract=1663088.. Nicolas Ulmer, The Cost Conundrum (2010) 26:2 Arb.. Int l 221.. Gus Van Harten, Five Justifications for Investment Treaties: A Critical Discussion (2010) 2:1 Trade, Law Development, online: SSRN http://ssrn.. com/abstract=1622928.. Gus Van Harten, Investment Rules and the Denial of Change Osgoode CLPE Research Paper No.. 14/2010, online (2010) SSRN http://ssrn.. com/abstract=1612345.. Gus Van Harten, Investment Treaty Arbitration, Procedural Fairness, and the Rule of Law in Stephan W.. Schill International Investment Law and Comparative Public Law (Oxford, forthcoming 2010), online: SSRN http://ssrn.. com/abstract=1658523.. Jorge E.. Vinuales, Foreign Investment and the Environment in International Law: An Ambiguous Relationship (2010) 80 British Yearbook of Int l L.. com/abstract=1652763.. Kojo Yalpaala, Rethinking the foreign direct investment process and incentives in post-conflict transition countries (2010) 30 Nw.. 23.. Symposia.. Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010, online: SSRN http://www.. ssrn.. com/link/SIEL-2010-Barcelona-Conference.. html (only investment-related articles listed below).. Barnali Choudhury, Exception Provisions as a Gateway to Incorporating Human Rights Issues into International Investment Agreements (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1632437.. Nicolas F.. Diebold, Non-Discrimination and the Pillars of International Economic Law Comparative Analysis and Building Coherency (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1632927.. Ilze Dubava, Reconciling International Investment Law and Sustainable Development: Necessity or Luxury? (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1633019.. Anastasios Gourgourinis, 'Lex Specialis' in WTO and Investment Protection Law (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1634051.. Locknie Hsu, 2000-2009: A Decade of Security-Related Developments in Trade and Investment J.. Investment Trade [forthcoming]; (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1641141.. Julie A.. Maupin, MFN-Based Jurisdiction in Investor-State Arbitration: Is There Any Hope for a Consistent Approach? (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1633012.. Juanita Olaya, Good Governance and International Investment Law: The Challenges of Lack of Transparency and Corruption (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1635437.. Martins Paparinskis, Investment Protection Law and Systemic Integration of Treaty and Custom (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1632559.. Nicolas Marcelo Perrone, Scrutinizing States Power in a Liberalized Economy: A Comparative Analysis of the International Investment Regime and the International Trade System (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1633007.. Prabhash Ranjan, Capital Transfer Provisions in Indian Investment Agreements and India s Regulatory Power (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1635389.. Jun Xiao, The ASEAN-China Investment Agreement: A Regionalization of Chinese New BITs (Article presented at the Society of International Economic Law (SIEL), Second Biennial Global Conference, University of Barcelona, 8-10 July 2010), online: SSRN http://ssrn.. com/abstract=1629202..

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