You can follow our ‘PIL Latest’ alerts via the firm’s LinkedIn page. Should you wish to discuss any of these developments, please contact Stephen Fietta on +44(0)203 889 9801 or Jiries Saadeh on +44(0)203 889 9792 in the first instance.

ICSID award determines that the recent Achmea ruling is not applicable to investor-State arbitration under the ECT

On 16 May 2018, an ICSID tribunal rendered its award in Masdar Solar & Wind Cooperatief v. Spain (ICSID Case No. ARB/14/1), granting the claimant compensation in excess of EUR 64 million for losses arising from Spain’s violation of its obligation to provide fair and equitable treatment under the Energy Charter Treaty. The award comes...

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The Netherlands to terminate its intra-EU BITs following the Achmea decision

In the wake of the decision of the Court of Justice of the European Union (CJEU) in Achmea v Slovakia, the Netherlands government has indicated that it will look to terminate its intra-EU BITs.  On 26 April 2018, the Minister of Foreign Affairs of the Netherlands informed the Dutch Parliament that the Netherlands would look...

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ICJ delivers judgment in maritime and land boundary cases between Costa Rica and Nicaragua

On 2 February 2018, the International Court of Justice (ICJ or Court) delivered its judgment in the joined cases concerning Maritime Delimitation in the Caribbean Sea and the Pacific Ocean (Costa Rica v. Nicaragua) and Land Boundary in the Northern Part of Isla Portillos (Costa Rica v. Nicaragua). The first case, submitted by Costa Rica...

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Mexico signs the ICSID Convention on the heels of discussions at UNCITRAL about ISDS reform

On 11 January 2018, Mexico’s Secretary of Economy, Ildefonso Guajardo, signed the ICSID Convention in Washington, DC.  The Convention will enter into force for Mexico 30 days after Mexico deposits the instrument of ratification. Mexico’s adoption of the Convention, and thereby its consent to the arbitration of investment disputes via the ICSID process, comes a...

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UN General Assembly adopts resolution to negotiate legally binding instrument on conservation and sustainable use of the high seas

On 24 December 2017, the UN General Assembly adopted a resolution to convene an intergovernmental conference, under the auspices of the United Nations, for conclusion of an international legally binding instrument on the “conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction”. The instrument, if concluded, will be the first major...

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Tribunal revives suspended ICSID arbitration against Laos following “material breach” of settlement agreement

On 15 December 2017, an ICSID tribunal decided that Laos had “materially breached” a settlement agreement relating to its treaty dispute with the Dutch claimant, Lao Holdings N.V.  The “material breach” of the settlement agreement permitted the tribunal to “revive” the previously-suspended ICSID arbitration between the parties. On 14 August 2012, Lao Holdings initiated an...

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Contrasting awards around Venezuela’s ICSID denunciation

In a series of recent awards, ICSID tribunals have adopted contrasting (and apparently irreconcilable) approaches to Venezuela’s denunciation of the ICSID Convention.  Venezuela denounced the Convention on 24 January 2012 and the denunciation took effect six months later, on 25 July 2012.  The denunciation triggered a number of new claims against Venezuela between 24 January...

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Mauritius Convention on Transparency in Investor-State arbitration enters into force

Mauritius Convention on Transparency in Investor-State arbitration enters into force

On 18 October 2017, the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (the “Mauritius Convention”) entered into force after being ratified by Canada, Mauritius and Switzerland. Adopted on 10 December 2014, the Mauritius Convention aims to facilitate the application of the 2014 UNCITRAL Rules on Transparency in Treaty-Based Investor-State Arbitration.  Under the Convention,...

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Niue and Chile announce the creation of new marine protected areas at the 2017 "Our Ocean" conference

Niue and Chile announce the creation of new marine protected areas at the 2017 “Our Ocean” conference

On 5 October 2017 at the Our Ocean conference hosted by the European Union in Malta, the Government of Niue announced the creation of a marine protected area (MPA) encompassing 40% of the country’s Exclusive Economic Zone (EEZ).  At the same conference, the Government of Chile announced the creation of three new MPAs, bringing the...

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ITLOS Special Chamber delivers its judgment on the delimitation of the maritime boundary between Ghana and Côte d’Ivoire

ITLOS Special Chamber delivers its judgment on the delimitation of the maritime boundary between Ghana and Côte d’Ivoire

On 23 September 2017, a Special Chamber of the International Tribunal for the Law of the Sea (ITLOS) delivered its judgment in the Dispute concerning delimitation of the maritime boundary between Ghana and Côte d’Ivoire in the Atlantic Ocean (Ghana/Côte d’Ivoire).  The Special Chamber, which was formed at the request of the Parties, was composed...

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