Successful State counterclaims in investor-State arbitration were found on 7 February 2017. The counterclaims were brought by Ecuador in response to claims by Burlington Resources Inc, a U.S.-based foreign investor. In its counterclaims, Ecuador alleged breach of its national environmental law by Burlington Resources and breach of contractual obligations and sought USD 2.8 billion in […]
Croatia Challenges MOL Arbitration Award
As previously announced by Croatian Prime Minister Andrej Plenkovic, Croatia appealed against the arbitral decision of an UNCITRAL arbitral tribunal, dismissing as unfounded Croatia’s claims against Hungarian State-owned company MOL. The case was brought by Croatia against Hungarian company MOL in 2014 pursuant to an arbitration clause in a 2003 shareholder’s agreement governing MOL’s investment […]
Valeri Belokon v. Kyrgyz Republic – Money Laundering in Investment Arbitration
On 14 October 2014, an UNCITRAL arbitral tribunal in the case Valeri Belokon v. Kyrgyz Republic, whose composition included Kaj Hober, Niels Schiersing and Jan Paulsson as President, found Kyrgyzstan liable for the unlawful expropriation of Claimant’s investment. The investment claim had been brought in 2011 by Valeri Belokon, a Latvian investor, against the Kyrgyz […]
Validity of Appellate Arbitration Clauses
The validity of appellate arbitration clauses has been upheld in India. In some arbitration clauses, parties may elect to resort to appellate arbitration clauses that provide for an appellate mechanism with respect to an award in order to correct errors. While prolonging the duration of arbitration, these clauses are sometimes desired as arbitral awards cannot […]
Diversity in International Arbitration
Diversity in international arbitration tribunals remains a hot topic among practitioners. Desired goals have been set on multiple occasions, especially with respect to gender diversity, and on 10 January 2017, Berwin Leighton Paisner released an annual arbitration survey (“Diversity in International Arbitration: Are We Getting There?”) to evaluate where things stand. The survey is provided below. […]