The government confirmed that a French court has ordered the freezing of certain Indian assets on a petition by Britain’s Cairn Energy, which is seeking to recover USD 1.72 billion arbitration award.
Bernhard von Pezold and his family have enlisted the help of a US federal court in Washington DC in enforcing a US$277 million arbitral award against Zimbabwe.
The derailment of the plans led Canadian mining company Gabriel Resources to sue the Romanian government for $5.7 billion before the Washington-based ICSID.
Indiana Resources files a memorial on the arbitration with Tanzania over the expropriation of the Ntaka Hill Nickel Project, whereby it claims the amount of AU$127 million, including interest which continues to accrue.
Pakistan is the latest country to reject the system that allows private investors to sue governments in international tribunals. But Ecuador is back-tracking and the lawsuits continue to proliferate.
Meanwhile, Gabriel Resources has taken Romania before the World Bank’s International Centre for Settlement of Investment Disputes, seeking $4.4 billion (3.7 billion euros) in damages.
The European Commission has opened an in-depth investigation in order to assess whether an arbitration award, to be paid by Spain in favour of Antin, is in line with EU rules on State aid.