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Case of the Day: Crystallex International v. Petróleos de Venezuela
The case of the day is Crystallex International Corp. v. Petróleos de Venezuela (D. Del. 2016). Crystallex was a Canadian corporation that had brought an ICSID arbitration against Venezuela, relating primarily to Venezuela’s denial of a permit to allow Crystallex to mine gold deposits in the Las Cristinas area and to the decision of a……
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Case of the Day: Micula v. Government of Romania
The case of the day is Micula v. Government of Romania (D.D.C. 2015). Viorel Micula alleged that he had made investments in Romania in reliance on certain incentives offered by the Romanian government. He claimed that Romania later revoked the incentives, causing him to suffer a loss, and that Romania had acted in violation of……
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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……
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Case of the Day: Blue Ridge Investments v. Argentina
The case of the day is Blue Ridge Investments, LLC v. Republic of Argentina (2d Cir. 2013). In 1989, Argentina privatized the gas transportation industry, leading to the creation of Transportadora de Gas del Norte, or TGN. In 1995, CMS Gas Transmission Co. bought a 25% stake in TGN from the Argentine government. At first,……