A Belgian court has lifted a freeze on about $21.5 billion (16.2 billion pounds) in Kazakhstan’s National fund assets imposed after a dispute with a Moldovan businessman, the Kazakh justice ministry said.
When officials drafted investment treaties and arbitration, did they expect them to facilitate more investment? The answer that emerges from internal discussions among officials in the UK and the US is clear: no.
The takeaway from the UNCITRAL’s process for its so-called "reform" discussions is that lawyers making millions in ISDS cases are welcomed, while the voices of the millions of people whose lives are harmed by ISDS cases brought by multinational corporations are barely an afterthought.
The Stati Parties have requested to enforce the award issued in their favor including by attaching Kazakh state commercial assets in the United States.
After a 14-year dispute between Quiborax and the Bolivian government, the International Centre for Settlement of Investment Disputes (ICSID) rejected Bolivia’s application to annul a US$48.6mn award in favor of the Chilean mining company.
The German cabinet has confirmed that two utilities operating in Germany are entitled to compensation for losses stemming from the country’s nuclear phaseout. The move is in line with an earlier top court ruling.