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  • Title: Sempra goes back to the drawing board in long battle with Argentina - Investment Arbitration Reporter (IAReporter)
    Descriptive info: You are here:.. Sempra goes back to the drawing board in long battle with Argentina.. publication date:.. Nov 25, 2010.. Previous.. |.. Next..  .. A U.. energy company has resubmitted a claim against the Argentine Republic for arbitration at the International Centre for Settlement of Investment Disputes.. US-based Sempra Energy International was awarded $128,250,462 (US) by an ICSID arbitration tribunal in September of 2007 following a finding that Argentina breached legal protections contained in the U.. -Argentina bilateral investment treaty.. However, as was later revealed by IAReporter, this arbitral award was annulled by a so-called ad-hoc committee at ICSID in June of this year.. Sempra first turned to ICSID in 2002 complaining that Argentina s response to an earlier financial crisis had caused serious damage to the company s investments in a natural gas distribution business.. For background on the earlier Sempra arbitration see this.. March, 2009 report.. For a more recent account of the ultimate annulment of the 2007 arbitral award, see.. this report.. Related Articles:.. Newly-released SAUR v.. Argentina decision touches  ...   full appeal permitted.. Sempra asks ICSID panel to lift stay of enforcement of arbitral award in dispute with Argentina.. Arbitrators in Argentine airline case wave off jurisdictional objections rooted in third-party funding of case and alleged illegality.. Newly-published award finds Argentina treated El Paso Corporation “unfairly”, but arbitrators take state-friendly reading of some investment treaty protections.. ANALYSIS: ICSID tribunal in Argentine case treads new ground with concept of “creeping” unfair treatment.. ANALYSIS: Does independence of judgment demand dissents in some cases?.. ANALYSIS: Latest split amongst ICSID arbitrators over Argentina’s necessity defense reflects wider chasm; role of “state practice” in treaty interpretation also studied.. El Paso tribunal appoints expert to adjust proposed DCF model; takes wide view of implications of tax exclusion on damages.. 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..

    Original link path: /articles/20101126_5
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  • Title: Tribunal nixes treaty claim against Grenada on expedited basis; arbitrators deem it “impermissible” to pursue claim that re-litigates matters resolved in earlier contract case - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Tribunal nixes treaty claim against Grenada on expedited basis; arbitrators deem it “impermissible” to pursue claim that re-litigates matters resolved in earlier contract case.. Dec 13, 2010.. Can't view this article? If you are a subscriber, and we have your IP addresses on file, you MUST  ...   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.. here.. If you are NOT a subscriber, why not join today? Learn more about.. subscriber benefits.. Click here to join..

    Original link path: /articles/20101213
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  • Title: ICSID tribunal deems Central African Republic oil contract to have ended; U.S. investor obtained default judgment in U.S. Court against C.A.R. leaders over bribe allegation - Investment Arbitration Reporter (IAReporter)
    Descriptive info: ICSID tribunal deems Central African Republic oil contract to have ended; U.. investor obtained default judgment in U.. Court against C.. R.. leaders over bribe allegation.. Dec 16, 2010..

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  • Title: Documents of interest - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Documents of interest.. Feb 1, 2011..

    Original link path: /articles/20110201_15
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  • Title: Argentina by the numbers: where things stand with investment treaty claims arising out of the Argentine financial crisis - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Argentina by the numbers: where things stand with investment treaty claims arising out of the Argentine financial crisis.. By Luke Eric Peterson.. Two years ago, we published a run-down of where things stand with the barrage of arbitration claims filed against the Argentine Republic in the aftermath of that country s earlier financial crisis.. It s time for an update.. Argentina still accounts for a disproportionate number of outstanding claims between foreign investors and sovereign governments at the International Centre for Settlement of Investment Disputes (ICSID).. At present, 27 claims are pending against Argentina at the ICSID, accounting for more than 1/5th of that institution s pending case-load.. All but 1 of these 27 cases involve claims relating, at least in part, to Argentina s response to its earlier financial crisis.. **.. Outside of ICSID, at least 2 additional crisis-related investment treaty claims are known to be in arbitration under the UNCITRAL rules: those of ICS Inspection and Control Services Limited and Anglian Water Group (AWG).. Another UNCITRAL claim, by Bank of Nova Scotia is thought to remain suspended.. A further two UNCITRAL claims brought by National Grid and BG have been fully arbitrated, and are now being challenged by Argentina in the U.. Courts.. (See.. separate story.. ).. While at least 30 financial crisis claims are still pending either in arbitration or post-enforcement litigation, 7 of these cases are currently suspended while the parties pursue negotiations.. Since our last round-up in 2008, Argentina has settled at least four claims, and beat back another on jurisdictional grounds.. *** These developments bring to 15 the number of financial crisis cases that have been concluded.. ****.. Argentina s award liabilities shrink, even as government does not pay.. While more than 24 months have elapsed since our last overview of Argentine crisis cases, a peculiar thing has happened: Argentina s award-debts to foreign investors have shrunk by more than a third over the last two years, even as the government has yet to pay a penny to its award-creditors.. By the close of 2008, we reported that 2/3rds of a Billion Dollars (plus substantial sums of interest) had been awarded for breach of investment treaty protections in Argentine financial crisis disputes.. However, that figure now stands closer to 430 Million USD (plus interest).. Such a precipitous decline can be explained by the fact that no new damages awards have been rendered in the last 24 months, and a pair of earlier sizable arbitral awards in the Enron and Sempra cases - evaporated last summer, when ICSID review panels found fault with the handiwork of the original arbitrators in those cases.. In little more than a month, a pair of ICSID ad-hoc annulment committees had lopped $234 Million (plus related interest) from Argentine s  ...   run the arbitral and annulment gauntlet have been disappointed to discover that Argentina is in no hurry to begin writing checks to truly victorious claimants.. Just ask Michigan-based energy company, CMS Gas Transmission Company, which ultimately turned to a distressed debt specialist when it proved unable to collect on its 133.. 2 Million US award against Argentina.. Three other claimants with awards against Argentina National Grid, BG Group, and Continental Casualty have not advanced as far as CMS.. They all remain embroiled in post-award annulment or confirmation battles.. A fourth claimant, LG E, has a 57.. 4 Million award in hand, but had agreed to the suspension of the annulment process so as to discuss a possible settlement.. Non-crisis awards also unpaid.. At least two arbitral awards against Argentina rising out of pre-crisis disputes also remain unpaid: a 2006 award for $165 Million in favour of the Azurix Corporation and a 2007 $105 Million award in favour of Vivendi Universal.. However, these two award-creditors have fared no better than those awarded compensation for losses arising out of the financial crisis.. (Argentina did engage in serious talks with Azurix to settle that award, however, those discussions appeared to founder when the government refocused its priorities on negotiations with the country s hold-out bondholders.. Officially, Argentina insists that it is prepared to pay final arbitral awards, provided that claimants present them to the appropriate Argentine court for confirmation.. However, claimants have long protested that this is unnecessary, and could ensnare them in years of further litigation in the Argentine courts.. * See our 2008 round-up.. ** The Teinver S.. case at ICSID does not relate to the financial crisis.. *** These cases settled since our last round-up in late 2008: Telefonica, CIT, CGE, and Impregilo (highway dispute); See our reporting on the dismissal of the TSA case.. **** At present, there are actually 22 concluded cases involving Argentina at ICSID.. By our count, 7 of these did not arise out of the financial crisis: Vivendi, Lanco, Houston Industries, Mobil (ICSID Case No.. ARB/99/1), Empresa Nacional de Electricidad, Azurix (ICSID Case No.. ARB/01/12, and Siemens).. ***** See our reporting on the annulment of the Sempra v.. Argentina award.. See also our reporting on the annulment of the Enron v.. The jilted investors have taken steps to file new claims at ICSID, but it remains to be seen if the claimants have the stomach for half a decade or more of new litigation with Argentina.. Indeed, in recent days, an Argentine energy company announced that it has obtained an option to purchase the rights to the ICSID arbitration, and would withdraw the case as a goodwill gesture.. See this January 19, 2011.. announcement.. of Pampa Energia at : and subsequent.. press reports.. in Argentina..

    Original link path: /articles/20110201_9
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  • Title: New Books, Articles and Materials on Investment Treaty Law and Arbitration: December 2010 to April 2011 - Investment Arbitration Reporter (IAReporter)
    Descriptive info: New Books, Articles and Materials on Investment Treaty Law and Arbitration: December 2010 to April 2011.. Apr 11, 2011.. Bibliography compiled by Prof.. Andrew Newcombe, Faculty of Law, University of Victoria.. Books.. Ivar Alvik, Contracting with Sovereignty: State Contracts and International Arbitration (Hart, 2010).. Pieter Bekker, Rudolf Dolzer, Michael Waibel, eds, Making Transnational Law Work in the Global Economy: Essays in Honour of Detlev Vagts (Cambridge University Press, 2010).. Tomer Broude Yuval Shany, eds, Multi-sourced Equivalent Norms in International Law (Hart Publishing, forthcoming 2011).. Chester Brown Kate Miles, eds, Evolution in Investment Treaty Law and Arbitration (Cambridge University Press, forthcoming).. Karin Buhmann, Lynn Roseberry Mette Morsing, eds, Corporate Social and Human Rights Responsibilities: Global, Legal and Management Perspectives (Macmillan, 2011).. Marc Bungenberg, Joern Griebel Steffen Hindelang, eds, International Investment Law and EU Law (European Yearbook of International Economic Law / Special Issue) (Springer, 2011).. Stavros Brekoulakis, Third Parties in International Commercial Arbitration (Oxford University Press, 2011).. Lorenzo Cotula, Law and Power in Foreign Investment in Africa - Shades of Grey in the Shadow of the Law (Routledge, forthcoming 2011).. Mustafa Erkan, International Energy Investment Law: Stability Through Contractual Clauses (Kluwer, 2010).. Ole Kristian Fauchald Andre Nollkaemper, eds, Unity or Fragmentation of International Law: The Role of International and Nationals Tribunals (Hart Publishing, 2011).. Markus W.. Gehring, Marie-Claire Cordonier Segger Andrew Newcombe, eds.. , Sustainable Development in World Investment Law (Kluwer Law International, 2011).. Martin F.. Gusy, James M.. Hosking Franz T.. Schwarz, A Guide to the ICDR International Arbitration Rules (Oxford University Press, forthcoming 2011).. Rainer Hoffman Christian Tams, eds, International Investment Law and General International Law: From Clinical Isolation to Systemic Integration (Nomos, forthcoming 2011).. Mark Kantor, Michael D.. Nolan and Karl P.. Sauvant, Reports of Overseas Private Investment Corporation Determinations (Oxford University Press, April 2011).. Roland Kläger, Fair and Equitable Treatment' in International Investment Law (Cambridge Studies in International and Comparative Law) (Cambridge University Press, forthcoming 2011).. Sheldon Leader David M.. Ong, eds, Global Project Finance, Human Rights and Sustainable Development (Cambridge University Press, forthcoming 2011).. Charles Leben, The Advancement of International Law (Hart Publishing, October 2010).. Meredith Kolsky Lewis Susy Frankel, International Economic Law and National Autonomy (Cambridge University Press, 2010).. Santiago Montt, State Liability in Investment Treaty Arbitration: Global Constitutional and Administrative Law in the BIT Generation (Hart, 2009).. Abdullah Suleiman Nawafleh, Law and Investment in Jordan: The Legal Environment of Business after WTO accession, the Bilateral Investment Treaty and Free Trade Agreement with the United States (Lap Lambert, 2011).. Lucy Reed, Jan Paulsson Nigel Blackaby, Guide to ICSID Arbitration, 2d ed (Kluwer, 2010).. Thomas Roe, Matthew Happold James Dingemans, Settlement of Investor-State Disputes Under the Energy Charter Treaty (Cambridge University Press, forthcoming 2011).. Borzu Sabahi, Compensation and Restitution in Investor-State Arbitration.. Principles and Practice (Oxford University Press, forthcoming 2011).. Stephan W.. Schill, International Investment Law and Comparative Public Law (Oxford University Press, 2010).. Jan Ole Voss, The Impact of Investment Treaties on Contracts between Host States and Foreign Investors (Brill, 2011).. Book Reviews.. Efraim Chalamish, Book Review: Do Treaties Matter? On Effectiveness and International Economic Law (Winter 2011) 32 Mich.. J.. Int'l L.. 325.. Diego Bernal Corredor, Review of International Investment Law: Reconciling Policy and Principle, by Surya P.. Subedi (2011) 1:1 Asian Journal of International Law 200, online: Cambridge Journals Online (.. Click here for online version.. Rafael Leal-Arcas, Review of International Energy Investment Law: The Pursuit of Stability by P.. Cameron (October 2010) Oil, Gas Energy L.. J.. 1, online: SSRN (.. Diego G.. Mejõa-Lemos, Review of Human Rights in International Investment Law and Arbitration edited by Pierre-Marie Dupuy, Francesco Francioni Ernst-Ulrich Petersmann (2011) 1:1 Asian Journal of International Law 199, online: Cambridge Journals Online, (.. ).. P.. M.. Protopsaltis, Book Review:The Multilateralization of International Investment Law by Stephan W.. Schill , online: (2010) Transnational Dispute Management.. Ruth Teitelbaum, Book Review: The Future of Investment Arbitration by Catherine A.. Rogers and Roger P.. Alford (2010) 26:1 Arbitration International 187.. Reports.. Draft Report on the Future European International Investment Policy, 20 December 2010, (.. UK Government White Paper on Trade and Investment Trade and Investment for Growth.. February 2011, (.. UNCTAD, Denunciation of the ICSID Convention and BITs: Impact on Investor-State Claims , (December 2010) IIA Issues Note No.. 2, online: UNCTAD, (.. UNCTAD, Investor State Disputes: Prevention and Alternatives to Arbitration (United Nations, 2010), (.. UNCTAD, Scope and Definition, UNCTAD Series on Issues in International Investment.. Agreements II (2011), (.. UNCTAD, Latest Developments in Investor State Dispute Settlement, IIA Issues Note No.. 1, March 2011, (.. Articles.. José Enrique Alvarez and Tegan Brink, Revisiting the Necessity Defense Yearbook on International Investment Law and Policy, 2010-2011, NYU School of Law, Public Law Research Paper No.. 11-09, (.. Jose E.. Alvarez, Are Corporations 'Subjects' of International Law? NYU School of Law, Public Law Research Paper No.. 10-77, Santa Clara J.. Int l L.. (forthcoming).. Carrie E.. Anderer, Note.. Bilateral investment treaties and the EU legal order: implications of the Lisbon Treaty (2010) 35 Brook.. 851.. Rachel J.. Anderson, Reimagining Human Rights Law: Toward Global Regulation of Transnational Corporations (2010) 88 Denv.. U.. L.. Rev.. , online: SSRR, (.. Elizabeth Asiedu Donald D.. Lien, Democracy, Foreign Direct Investment and Natural Resources , online: (2010) SSRN, (.. Lisa Bennett, Note.. Are tradable carbon emissions credits investments? Characterization and ramifications under international investment law (2010) 85 N.. Y.. U.. L.. 1581.. David Bilchitz, The Ruggie Framework: An Adequate Rubric for Corporate Human Rights Obligations? (June 2010) 7:12 Sur Int l J.. on Human Rights 198, online: SSRN, (.. click here for online version.. Andrea K.. Bjorklund Sophie Nappert, Beyond Fragmentation in New Directions in International Economic Law In Memoriam Thomas Wälde (CMP Publishing, forthcoming).. Paul Michael Blyschak, Arbitrating Overseas Oil and Gas Disputes: Breaches of Contract Versus Breaches of Treaty (2010) 27:6 J.. Int l Arbitration 579.. Joseph M.. Boddicker, Comment.. Whose Dictionary Controls?: Recent Challenges to the Term "investment" in ICSID Arbitration (2010) 25 Am.. 1031.. Laurence Burger, Swiss Bilateral Investment Treaties: A Survey (2010) 27:5 J.. Int l Arbitration 473.. Markus Burgstaller Charles B.. Rosenberg, Challenging International Arbitral Awards: To ICSID or not to ICSID? (2011) 27:1 Arbitration International 91.. Indira M.. Carr Opi Outhwaite, NGOs Fighting Corruption: Theory and Practice , online: (2011) SSRN, (.. Jernej Letnar Černič, Corporate Human Rights Obligations Under Stabilization Clauses (2010) 11 German L.. 210.. Efraim Chalamish, An Oasis in the Desert: The Emergence of Israeli Investment Treaties in the Global Economy (Spring 2010) 32 Loy.. Int'l Comp.. 123.. Tony Cole Anuj Kumar Vaksha, Power-Conferring Treaties: The Meaning of 'Investment' in the ICSID Convention (2011) 24:2 Leiden Journal of International Law; Warwick School of Law Research Paper Series, SSRN, (.. David Collins, "Informal Home State Investment Dispute Settlement in the Age of Accountability: Lessons from the New Canadian Office of the Extractive Sector Corporate Social Responsibility Counsellor", (.. Hulya Dagdeviren, "Political Economy of Contractual Disputes in Private Water and Sanitation: Lessons from Argentina" Annals of Public and Cooperative Economics, Vol.. 82, No.. 1, pp.. 25-44, 2011.. Kevin E.. Davis, Privatizing the Adjudication of International Commercial Disputes: The Relevance of Organizational Form NYU Law and Economics Research Paper No.. 11-01, online: SSRN, (.. Fiona De Londras, The European Court of Human Rights, Dual Functionality, and the Future of the Court after Interlaken Irish Human Rights L.. (forthcoming), online: (2011) SSRN http://ssrn.. com/abstract=1738942.. Zachary Douglas, The MFN Clause in Investment Arbitration: Treaty Interpretation Off the Rails J.. Int.. Disp.. Settlement (2011) 2(1): 97-113.. Alfred Escher Hector Anaya, Disqualification of a Member of the Arbitral Tribunal, Independence and Impartiality : The Current Trend in ICSID Arbitration Proceedings (September 2010) 15 No.. 2 IBA Arb.. News 99.. David Gantz, Labor Rights and Environmental Protection Under NAFTA and Other U.. Free Trade Agreements" University of Miami Inter-American Law Review, 2011.. Arizona Legal Studies Discussion Paper No.. 11-13.. Katia Fach Gómez, Definition of Amicus Curiae in Investment Arbitration (Spanish) , online: (2010) SSRN, (.. Katia Fach Gómez, Proposing Conciliatory Measures for Latin America and ICSID (Proponiendo un Decálogo Conciliador Para Latinoamérica y CIADI) (Spanish) , (2010) SSRN, (.. Daniel M.. Firger, Harmonizing Climate Change and International Investment Law: Threats, Challenges and Opportunities , online: (2011) SSRN, (.. Amin George Forji, "Drawing the Right Lessons from ICSID Jurisprudence  ...   Norms in International Law (Hart Publishing, forthcoming 2011), SSRN, (.. Martins Paparinskis, Regulatory Expropriation and Sustainable Development in Markus W.. Gehring, Marie-Claire Cordonier Segger Andrew Newcombe, eds, Sustainable Development in World Investment Law (Kluwer Law International, 2011).. Martins Paparinskis, Sapphire Arbitration in Rüdiger Wolfrum, ed.. , Max Planck Encyclopaedia of Public International Law (Oxford University Press), SSRN, (.. Martins Paparinskis, Sources of Law and Arbitral Interpretations of Pari Materia Investment Protection Rules in Ole Kristian Fauchald Andre Nollkaemper, eds, Unity or Fragmentation of International Law: the Role of International and Nationals Tribunals (Hart Publishing, 2011), (.. ) SSRN.. Martins Paparinskis, The Limits of Depoliticisation in Contemporary Investor-State Arbitration (2010) 3 Select Proceedings of the European Society of International Law, SSRN, (.. Jan Paulsson, "The Power of States to Make Meaningful Promises to Foreigners" (2010) 1 J.. Int'l Dispute Settlement 341.. Ernst-Ulrich Petersmann, The Future of International Economic Law: A Research Agenda EUI Working Papers LAW No.. 2010/06, (2010) SSRN, (.. Tra T.. Pham, International investment treaties and arbitration as imbalanced instruments: a re-visit (2010) 13:3 Int l Arb.. 81.. Lauge Skovgaard Poulsen, Bilateral Investment Treaties and Preferential Trade Agreements: Is a BIT Really Better Than a Lot? (September 2010) 1:1 Investment Treaty News Quarterly 16, online: SSRN, (.. August Reinisch, How Narrow are Narrow Dispute Settlement Clauses in Investment Treaties? J Int.. Settlement (2011) 2(1): 115-174.. Michael Reisman, Soft Law and Law Jobs, J Int.. Settlement (2011) 2(1): 25-30.. David P.. Riesenberg, Fee Shifting in Investor-State Arbitration: Doctrine and Policy Justifying Application of the English Rule (2011) 60 Duke L.. 977, SSRN, (.. Catherine A.. Rogers, International Arbitration's Public Realm in Contemporary Issues in International Arbitration and Mediation: The Fordham Papers (Martius Nihoff Publishers, 2010); The Pennsylvania State University Legal Studies Research Paper No.. 3-2011, SSRN, (.. Charles B.. Rosenberg, Challenging Arbitrators in Investment Treaty Arbitrations (2010) 27:5 J.. Int l Arbitration 505.. Robert Rothkopf Francesca Albert, Russia Turns its Back on the ECT -- A New Era for Investment Arbitration? (2010) 14 Vindobona J.. Int l Comm.. Arb.. 141.. Davide Rovetta and Ashley R.. Riviera, The Ad Hoc Committee Annulment Decision in Malaysian Historical Salvors: The Meaning of 'Investment' Re-Established?" Global Trade and Customs Journal, Vol.. 2, 2011.. Jeswald W.. Salacuse, The emerging global regime for investment (2010) 51 Harv.. 427.. Alberto R.. Salazar V.. , NAFTA Chapter 11, Regulatory Expropriation, and Domestic Counter-Advertising Law (Spring 2010) 27 Ariz.. 31.. Anthony B.. Sanders, Of All Things Made in America Why Are We Exporting the Penn Central Test? (Spring 2010) 30 Nw.. Bus.. 339.. Schill, International Investment Law and Comparative Public Law? An Introduction online: (2010) Transnational Dispute Management.. David Schneiderman, Investing in Democracy? Political Process and International Investment Law (Fall 2010) 60 U.. Toronto L.. 909.. David Schneiderman, Judicial politics and international investment arbitration: seeking an explanation for conflicting outcomes (2010) 30 Nw.. 383.. Thomas Schultz, The Concept of Law in Transnational Arbitral Legal Orders and some of its Consequences J Int.. Settlement (2011) 2(1): 59-85.. Thomas Schultz, The Three Pursuits of Dispute Settlement (2010) 1 Czech Central European Yearbook of Arbitration (forthcoming).. Christoph Schwarte Ruth Byrne, International Climate Change Litigation and the Negotiation Process , (2010) Transnational Dispute Management.. Sara L.. Seck, Conceptualizing the Home State Duty to Protect Human Rights in Karin Buhmann, Lynn Roseberry, Mette Morsing, eds, Corporate Social and Human Rights Responsibilities: Global, Legal and Management Perspectives (Macmillan, 2011), online: SSRN, (.. Marie Louise Seelig Anna Giulia Tevini, Revision Proceedings under the ICSID Convention: Suggestions for a Possible Interpretation of the Prerequisites of Article 51 of the ICSID Convention (2010) 26:4 Arbitration International 467.. Wenhua Shan Sheng Zhang, The Treaty of Lisbon: Half Way toward a Common Investment Policy (2010) 21 Eur.. 1049, (.. Wei Shen, Beyond the Scope of Investor and Investment : Who can Make an Arbitration Claim under a Chinese BIT? - Some Implications from a Recent ICSID Case (2010) 6:2 Asian Int l Arbitration J.. 164.. Wei Shen, Is This a Great Leap Forward? A Comparative Review of the Investor-State Arbitration Clause in the ASEAN-China Investment Treaty: From BIT Jurisprudential and Practical Perspectives (2010) 27:4 J.. Int l Arbitration 379.. Jamie Shookman, Too Many Forums for Investment Disputes? ICSID Illustrations of Parallel Proceedings and Analysis (2010) 27:4 J.. Int l Arbitration 361.. Jordan I.. Siegel, Amir N.. Licht Shalom H.. Schwartz, Egalitarianism and International Investment Journal of Financial Economics (forthcoming).. Anthony Sinclair David Stranger-Jones, Execution of Judgments or Awards against the Assets of State Entities (2010) 4 No.. 1 Disp.. Int'l 95.. Suzanne A.. Spears, The Quest for Policy Space in a New Generation of International Investment Agreements (2010) 13:4 J.. Int l Economic L.. 1037, (.. ),.. A.. Steingruber, Bilateral Investment Treaties: The Agreement to Arbitrate Between Investor and Host State in the Eyes of State Courts, TDM 1 (2011).. Edna Sussman, A Multilateral Energy Sector Investment Treaty: Is It Time for a Call for Adoption by All Nations? (Fall 2010) 44 International Lawyer 939.. Andrew P.. Tuck, The fair and equitable treatment standard pursuant to the investment provisions of the U.. Free Trade Agreements with Peru, Colombia and Panama (2010) 16 Law Bus.. 385.. Antonios Tzanakopoulos, Denunciation of the ICSID Convention under the General International Law of Treaties in Rainer Hoffman Christian Tams, eds, International Investment Law and General International Law: From Clinical Isolation to Systemic Integration (Nomos, forthcoming 2011).. Valentina Vadi, Critical Comparison: The Role of Comparative Law in Investment Treaty Arbitration (Winter 2010) 39 Denv.. Pol'y 67.. Albert Jan van den Berg, Enforcement of Arbitral Awards Annulled in Russia (2010) 27:2 J.. Int l Arbitration 179.. Albert Jan van den Berg, "Dissenting Opinions by Party-Appointed Arbitrators in Investment Arbitration", in Mahnoush Arsanjani et al.. (eds.. ), Looking to the Future: Essays on International Law in Honor of W.. Michael Reisman.. (.. Kenneth J.. Vandevelde, A Unified Theory of Fair and Equitable Treatment (Fall 2010) 43 N.. Pol.. 43.. Gus Van Harten, Fairness and Independence in Investment Arbitration: A Critique of Susan Franck's 'Develop.. ment and Outcomes of Investment Treaty Arbitration' , (2011) SSRN, (.. Click here for online version).. Gus Van Harten, Reforming the NAFTA Investment Regime , online: (2010) SSRN, (.. Ignacio A.. Vincentelli, The uncertain future of ICSID in Latin America (2010) 16 Law Bus.. 409.. Vinuales, Jorge E, Access to water in foreign investment disputes 21 Geo.. Int'l Envtl.. 733-759 (2009).. Andreas Von Staden, Towards Greater Doctrinal Clarity in Investor-State Arbitration: The CMS, Sempra, and Enron Annulment Decisions (2011) 2 Czech Yearbook of International Law; U.. of St.. Gallen Law Economics Working Paper No.. 2010-13, (.. Tania S.. Voon Andrew D.. Mitchell, Implications of International Investment Law for Tobacco Flavouring Regulation (2011) 12:1 J.. World Investment Trade, online: SSRN, (.. Michael Waibel, Creditor Protection in International Law in Pieter Bekker, Rudolf Dolzer, Michael Waibel, eds, Making Transnational Law Work in the Global Economy: Essays in Honour of Detlev Vagts (Cambridge University Press, 2010), (.. Michael Waibel, Asha Kaushal, Kwo-Hwa Chung, Claire Balchin, The Backlash Against Investment Arbitration: Perceptions and Reality in Michael Waibel, Asha Kaushal, Kyo-Hwa Chung Claire Balchin, eds, The Backlash Against Investment Arbitration (Kluwer Law International, 2010), SSRN, (.. Michael Waibel, Two Decades Lost: Reinvigorating the Weak Cousin of WTO Law (2011) 3 Selected Papers from ESIL Proceedings, SSRN, (.. Mark C.. Weidemaier, "Contracting for State Intervention: The Origins of Sovereign Debt Arbitration" Law and Contemporary Problems, Vol.. 73, No.. 4, 2010, (.. Wolff, Lutz-Christian.. Pathological foreign investment projects in China: patchwork or trendsetting by the Supreme People's Court? 44 Int'l Law.. 1001-1018 (2010).. Elizabeth Wu, Addressing Multiplicity of Shareholder Claims in ICSID Arbitrations under Bilateral Investment Treaties: A Tiered Approach to Prioritising Claims? (2010) 6:2 Asian Int l Arbitration J.. 134.. Jason Webb Yackee, Do Bilateral Investment Treaties Promote Foreign Direct Investment? Some Hints from Alternative Evidence (Winter 2011) 51 Va.. 397.. Jason W.. Yackee Jarrod Wong, The 2006 Procedural and Transparency-Related Amendments to the ICSID Arbitration Rules: Model Intentions, Moderate Proposals, and Modest Returns in Karl P.. Sauvant, ed.. , The Yearbook on International Investment Law Policy (Oxford University Press, 2010); Univ.. of Wisconsin Legal Studies Research Paper No.. 1151, SSRN, (.. Trevor J.. Zeyl, "Charting the Wrong Course: The Doctrine of Legitimate Expectations in Investment Treaty Law", Alberta Law Review, Forthcoming..

    Original link path: /articles/20110411_1
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  • Title: ICSID annulment case discontinued and investor ordered to reimburse government for its legal costs; panel affirms that third-party funding should not affect costs recovery - Investment Arbitration Reporter (IAReporter)
    Descriptive info: ICSID annulment case discontinued and investor ordered to reimburse government for its legal costs; panel affirms that third-party funding should not affect costs recovery.. May 3, 2011.. In the latest chapter in a bitter dispute between a privately-held energy company, RSM Production Corporation, and the Caribbean nation of Grenada, a panel at the International Centre for the Settlement of Investment Disputes has ordered RSM to reimburse Grenada for legal costs associated with a discontinued proceeding.. RSM had sought to annul an unfavourable 2009 arbitral award arising out of a contract-based arbitration.. However, the Colorado-based company later declined to pay certain costs advances requested by ICSID, and let the annulment proceeding languish while it pursued a separate treaty-based claim against Grenada.. (The treaty claim was dismissed in December of 2010.. *).. After the annulment proceedings were stayed for more than 6 months, ICSID moved for the discontinuation of the proceedings in November of 2010.. The parties did not object to a discontinuation of the proceeding, however Grenada argued that RSM should be liable for the costs incurred by Grenada to defend the aborted case.. Parties joust over alleged third-party funding, and its implications for costs.. RSM countered that it should not be liable for Grenada  ...   third party, and pointed to a recent ICSID arbitral award where a different tribunal had stated that it knew of no principle why any third party financing arrangement should be taken into consideration in determining the amount of recovery by the Claimants of their costs.. ***.. Ultimately, in view of RSM s approach to the annulment proceeding including its repeated failure to pay costs advances requested by ICSID - the committee deemed it appropriate that RSM bear Grenada s legal costs.. The tribunal declined an invitation to find that RSM had committed an abuse of process by pursuing annulment, and then filing a treaty-based claim against Grenada at ICSID.. Of further note, the committee signaled its agreement with the principle cited by Grenada whereby a third-party funding arrangement was irrelevant to a determination of costs recovery.. A copy of the committee s April 28, 2011 order is available.. * Our reporting on the dismissal of the treaty claim is.. ** See.. this lin.. k for more on the U.. court action.. *** For our reporting on the award in the Fuchs-Kardassopoulos v.. Georgia case, see.. this link.. BRIEFLY NOTED: Annulment sought in RSM v.. Grenada and Siag & Vecci v.. Egypt cases at ICSID..

    Original link path: /articles/20110503_3
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  • Title: ANALYSIS: In Mongolia mining arbitration, local hiring law does not breach treaty; certain actions of central bank are attributable to state, and lead to one treaty breach of Russian treaty - Investment Arbitration Reporter (IAReporter)
    Descriptive info: ANALYSIS: In Mongolia mining arbitration, local hiring law does not breach treaty; certain actions of central bank are attributable to state, and lead to one treaty breach of Russian treaty..

    Original link path: /articles/20110503_7
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  • Title: Fate of international tribunal to be debated by Southern African heads of state; Jurisdiction over investment and human rights disputes at issue - Investment Arbitration Reporter (IAReporter)
    Descriptive info: Fate of international tribunal to be debated by Southern African heads of state; Jurisdiction over investment and human rights disputes at issue.. May 13, 2011.. (Editor's Note: This article is one of a small number on our website that is made available to non-subscribers free of charge).. The fate of an international tribunal hangs in the balance as heads of state from Southern Africa prepare to meet this month.. The Southern African Development Community (SADC) tribunal rocketed to public consciousness in 2008 when a panel of its judges ruled that violent land seizures in Zimbabwe violated international law protections owed to foreigners and locals alike.. Since that time, the claimants in the Zimbabwe case have struggled to enforce the tribunal s judgment, and the SADC tribunal has come under the political microscope.. Subsequent rulings from the tribunal in 2009 and 2010 affirmed that Zimbabwe was not in compliance with its treaty obligations, and imposed costs orders on Zimbabwe.. In a series of statements, Zimbabwean government officials have insisted that the tribunal was not validly established because a protocol to the SADC treaty giving rise to the tribunal was never ratified by SADC member-states.. In August of last year, SADC Heads of State declined to censure Zimbabwe for its spurning of the tribunal judgment.. Instead, the SADC governments commissioned a formal review of the tribunal and its operations.. Upon this news, concerns were voiced by litigants before the tribunal, as well as non-governmental organizations, that the review process might provide a pretext for clipping the tribunal s wings.. However, a draft report prepared by Cambridge University Lecturer Lorand Bartels, and that has been seen by.. , has roundly rejected arguments by Zimbabwe that the tribunal lacks jurisdiction over SADC member-states.. What s more, Dr.. Bartels put forward a series of recommendations to strengthen and shore up the Namibia-based tribunal.. (See separate item for a summary of his draft report, including its implications for foreign investment protection).. In April of this year, Dr.. Bartels report was debated by a committee of ministers from the SADC states, and a series of recommendations were forwarded onward for the consideration of SADC heads of state.. While the recommendations of the ministers are not public,.. understands that the ministers did not reject the broad thrust of the consultant s report.. An extraordinary Summit of SADC leaders is to be convened on May 19-20 to discuss the future of the SADC tribunal.. It remains to be seen whether SDC leaders will accept the broad thrust of Dr.. Bartels report which affirmed that Zimbabwe and all SADC governments must bow to the jurisdiction of  ...   this year by a group of litigants seeking to pursue a pending claim before the tribunal in a long-running dispute over the cancellation of mining leases in Lesotho.. * In a recent email communication with IAReporter, the lead claimant in the Lesotho matter, Mr.. Josiah van Zyl warned that certain governments are seeking to neuter the tribunal in an effort to avert massive financial claims resulting from their international law violations.. For now, however, it seems unlikely that the tribunal will issue any sort of affirmation of its own authority, preferring instead to keep its head down while heads of state debate the body s future.. Supporters of tribunal are heartened by consultant s report.. While claimants with cases before the tribunal have complained loudly about the purported illegality of the review process, other observers are expressing guarded optimism that the review process will not permanently hobble the tribunal.. Nicole Fritz, Director of the Southern African Litigation Centre, is one of a number of civil society groups that has pressed the SADC governments to strengthen , rather than undermine, the regional tribunal.. In an interview with.. , she confessed that she and her organization had been dismayed when the SADC Summit commissioned its review of the tribunal.. However, Ms.. Fritz is relieved that the subsequent recommendations arising out of that review process have affirmed the role of the tribunal, and sought to shore up its work.. She concedes that everything now hangs on the Extraordinary Summit to be held this month.. Her group cautions that any effort by the member-states to curb the tribunal s powers would be a set-back for human rights, but also for foreign investors who currently enjoy extensive legal protections under the broadly-drafted SADC treaty.. For a detailed review of the contents of Dr.. Bartels' report, and its relevance to international dispute specialists, see this.. separate article.. (subscribers only).. * South African national Josiah van Zyl had sought to challenge the cancellation in the Lesotho courts, and when this proved unsuccessful he petitioned the South African authorities to provide diplomatic protection in relation to the dispute.. When South Africa declined to do so, Mr.. van Zyl turned to the South African courts, in an unsuccessful bid to force the issue.. After striking out in the courts of Lesotho and South Africa, brought claims for expropriation and denial of justice against South Africa and Lesotho to the SADC tribunal in June of 2009.. It is these latter claims which Mr.. van Zyl fears to be in limbo as a result of the SADC Summit s recent decision to initiate a review of the tribunal..

    Original link path: /articles/20110513_2
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  • Title: ANALYSIS: Renco’s treaty claims against Peru include indemnification and non-monetary relief requests that echo Chevron v Ecuador case; claim also has contentious jurisdictional and political angles - Investment Arbitration Reporter (IAReporter)
    Descriptive info: ANALYSIS: Renco’s treaty claims against Peru include indemnification and non-monetary relief requests that echo Chevron v Ecuador case; claim also has contentious jurisdictional and political angles.. May 17, 2011..

    Original link path: /articles/20110517_1
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  • Title: South African Development Community tribunal rules that Zimbabwe land reform process breaches regional treaty - Investment Arbitration Reporter (IAReporter)
    Descriptive info: South African Development Community tribunal rules that Zimbabwe land reform process breaches regional treaty.. Dec 11, 2008.. By Luke Eric Peterson.. A tribunal of the Southern African Development Community (SADC) has ruled that Zimbabwe violated the terms of a regional cooperation treaty by virtue of its targeting of seventy-nine claimants for the compulsory acquisition of their agricultural properties.. *.. A five member tribunal of judges convened to hear the claims has ordered the Zimbabwean Government to protect the possession and ownership of most of the farms at issue, and to pay fair compensation to three claimants who have already been forcibly dispossessed.. However, the tribunal did not engage in an assessment of the specific compensation that should be paid to each of the three dispossessed claimants and the means of enforcing the judgment remains uncertain (see this.. separate analysis piece.. for more details).. The claims were brought by a group of Zimbabwean, South African and UK nationals and companies with ownership interests in Zimbabwean agricultural holdings.. The tribunal convened to hear the case was composed of senior-level appeals judges from the various SADC countries.. The ruling is the first merits judgment to be issued by the SADC tribunal.. The judgment is notable for side-stepping an issue raised by Zimbabwe in its defence: the long and contentious history of land ownership in Zimbabwe, and the Government s argument that its land reforms were correcting colonially inherited land ownership inequities.. However, the tribunal did not shrink from addressing other issues, including whether it had jurisdiction over the claims notwithstanding the fact that most of the claimants had not exhausted their remedies in the Zimbabwe courts.. On this point, the tribunal noted that it could waive the requirement for exhaustion of local remedies in view of the fact that a constitutional amendment to the Zimbabwean Constitution had stripped the courts of the ability to review cases related to the acquisition of agricultural land a constitutional development which has been endorsed by the Supreme Court of Zimbabwe.. Rule of Law principle deemed to have been breached.. Zimbabwe had also protested that the SADC treaty lacks specific obligations, and is limited to generic principles and objectives such as the principles set forth in Article 4 of the treaty, including rule of law, human rights, democracy, solidarity, peace and security.. However, the tribunal countered that it has jurisdiction in respect of any dispute concerning these principles a potentially-expansive remit which paved the way for the tribunal to review whether the claimants had been denied the rule of law.. Indeed, the largest part of the judgment is given over to a review of this issue, with the tribunal members holding that the concept of the rule of law embraces at least two fundamental rights: the right of access to the courts and the right to a fair hearing before an individual is deprived of a right, interest, or legitimate expectation.. Deeming Zimbabwe to be under a legal obligation to ensure these two latter rights, the tribunal turned to the jurisprudence of certain Commonwealth jurisdictions, as well as that of the regional human rights institutions, in order to buttress this view.. After canvassing various cases dealing with access to courts and the right to  ...   the SADC Treaty contains no definition of racial discrimination , the tribunal turned to several General Comments drafted by specialized Committees of the UN charged with oversight of specific human rights treaties.. The tribunal gave particular emphasis to the views of the UN Committee on Economic, Social and Cultural Rights and its view that discrimination can include both de jure and de facto discrimination.. Although the constitutional amendment which undergirds Zimbabwe s land reform program was race-neutral, a majority (4 of 5) of the tribunal went on to hold that the implementation of this scheme affected white farmers only, thus constituting a form of de facto discrimination.. The tribunal noted that this differentiation between races was not reasonable and objective, but rather arbitrary and based primarily on considerations of race.. Of particular interest, the tribunal added that its finding would have been different had the program met several criteria, namely that it was reasonable and objective; that the claimants were paid for their expropriated lands; and that the lands were distributed to poor, landless, and other disadvantaged and marginalized individuals or groups.. Finally, the tribunal turned to the issue of compensation an issue which was dealt with in a somewhat cursory, but decisive fashion.. The tribunal noted that the claimants asserted that Zimbabwe was obliged to pay compensation for the expropriated lands, both under international law and the treaty.. For its part, Zimbabwe did not appear to dispute this proposition, although its own law currently provides only for compensation for improvements made to land (and not the land itself) and the Government takes the view that the UK Government, the former colonial power, bears the ultimate responsibility for paying for Zimbabwe s land reform program.. The tribunal, without citing particular authorities, took the position that it is the expropriating state is obliged to pay compensation, and that the compensation in question need be fair.. In contrast with the approach common to international investment arbitrations, the tribunal did not engage in any evaluation of the damages owing.. As such, there is no particular financial award made only an order that fair compensation be paid to the 3 claimants whose farms have already been seized by the Zimbabwean authorities.. For its part, the Zimbabwean Government has denounced the tribunal ruling in public comments reported in the state-influenced Zimbabwe Herald newspaper.. "They (the tribunal) are day-dreaming because we are not going to reverse the land reform exercise," the Minister of State for National Security, Lands, Land Reform and Resettlement, Didymus Mutasa, told the newspaper.. "There is nothing special about the 75 farmers and we will take more farms.. It's not discrimination against farmers, but correcting land imbalances," he added.. Minister Mutasa told The Herald, that the SADC Tribunal would not deter the land reform program to please former colonial masters.. Meanwhile, the Namibia-based Legal Assistance Centre, a regional legal aid clinic, has hailed the SADC judgment, praising the tribunal for a strong judgment which affirms its judicial independence.. The Centre notes that this was the first substantive judgment, and a good curtain-raiser of how it will perform in future in difficult and controversial cases.. *Mike Campbell (Pvt) Ltd.. , et.. al.. Republic of Zimbabwe, SADC (T) Case No.. 2/2007..

    Original link path: /articles/20090929_26
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