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Case of the Day: In re Application of Grupo Unidos Por El Canal
The case of the day is In re Application of Grupo Unidos Por El Canal, S.A. (D. Colo. 2015). The Autoridad del Canal de Panama, the agency in charge of the Panama Canal, is in the course of an expansion of the canal to include a third set of locks. Grupo Unidos Por El Canal,……
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Case of the Day: Lombard-Knight v. Rainstorm Pictures
The case of the day is Lombard-Knight v. Rainstorm Pictures, Inc. (Cal. Ct. App. 2015). Rainstorm was a California movie production company. It entered into two investment agreements with Fortnom & Co. SA, under which Fortnom was required to provide $300 million upon Rainstorm’s delivery to it of performance bonds. It turned out, according to……
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Lago Agrio: The Dissent
Readers, I erroneously reported that one of the three arbitrators, Dr. Horacio A. Grigera Naón, had dissented without an opinion. In fact, he did write a brief note of dissent, which I simply hadn’t seen. I’m not going to review it in depth: in the main, the disagreement concerns how to interpret the earlier Ecuadoran……
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Lago Agrio: Ecuador Wins A Round In The Investment Treaty Arbitration
Ecuador had a win yesterday in its investment treaty arbitration with Chevron. The tribunal issued its decision on track 1B of the case.
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Case of the Day: Mobil Cerro Negro v. Venezuela
The case of the day is Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela (S.D.N.Y. 2015). In 2007, Venezuela expropriated Mobil’s interest in various oil projects in the country. Mobil commenced an ICSID arbitration under a bilateral investment treaty. In 2014, the tribunal awarded Mobil approximately $1.6 billion, which remains unpaid. A day after……