issue #03, week 14. 06 April 2012
Prepared by TDM and Aloysius Gng (CEPMLP/Dundee)

TDM News Digest

provides a condensed overview of recent events of interest to the international arbitration community.

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NEWS

Report of the EFTA Court 2011 [pdf]

Mar 23, http://www.eftacourt.int/images/uploads/Rpt_2011.pdf

The Report covers the period from 1 January to 31 December 2011 and contains the decisions rendered during that period as well as an overview of other activities of the Court.

Scottish Arbitration Centre launches membership scheme

Mar 14, http://www.scottisharbitrationcentre.org/index.php/archives/590

The Scottish Arbitration Centre has launched an individual and corporate membership scheme.

P.R.I.M.E. Finace Cooperation with EBRD

Mar 30, http://www.primefinancedisputes.org

[P.R.I.M.E. Finance Newsletter No. 6 - March 2012] Following a series of exploratory discussions, P.R.I.M.E. Finance and the European Bank for Reconstruction and Development (EBRD) have embarked on collaborative efforts to provide local judiciary in targeted developing markets the necessary expertise to adjudicate in complex financial transactions disputes and to ensure the relevance of P.R.I.M.E. Finance's offering to those jurisdictions. On behalf of the EBRD, this cooperation is being coordinated by Ms. Frederique Dahan, Lead Counsel and Head of the Financial Law Unit in the Legal Transition Team.

ITLOS: Bangladesh/Myanmar Judgment Delivered on 14 March 2012

Mar 14, http://www.itlos.org/fileadmin/itlos/documents/press_releases_english/pr_175_engf.pdf

Hamburg, 14 March 2012. At a public sitting held today, the International Tribunal for the Law of the Sea rendered its judgment in the Dispute concerning delimitation of the maritime boundary between Bangladesh and Myanmar in the Bay of Bengal (Bangladesh/Myanmar). The Judgment was read by Judge José Luis Jesus, who is presiding over the Tribunal in this case.

The dispute concerns the delimitation of the maritime boundary between Bangladesh and Myanmar in the Bay of Bengal with respect to the territorial sea, the exclusive economic zone and the continental shelf. It is the first case of the Tribunal relating to the delimitation of maritime boundaries.

Proceedings in the case were instituted before the Tribunal on 14 December 2009. Further to the filing of written pleadings by the Parties, the hearing took place in September 2011.

In its judgment, the Tribunal had to address a number of issues raised by the Parties. Those included: the claim made by Bangladesh that the delimitation of the territorial sea had already been agreed by the Parties in 1974; and the delimitation of the exclusive economic zone and continental shelf within 200 nautical miles from the baselines from which the breadth of the territorial sea is measured. In addition, the Tribunal had to deal with the request of Bangladesh that the continental shelf beyond 200 nautical miles limit be delimited, a request which was opposed by Myanmar. The Tribunal then had to decide whether it could and should exercise its jurisdiction in respect of the delimitation of the continental shelf beyond 200 nautical limits.

The full text of the Judgment and of the declarations and dissenting and separate opinions appended thereto is available on the website of the Tribunal.

ITLOS: Dispute concerning delimitation of the maritime boundary between Bangladesh and Myanmar in the Bay of Bengal

Mar 7, http://www.itlos.org/fileadmin/itlos/documents/press_releases_english/pr_174_eng_final.pdf

Tribunal to deliver its judgment on Wednesday, 14 March 2012 at 11:30 a.m.

ITLOS: Mr Doo-Young Kim re-elected Deputy Registrar of the Tribunal

Mar 22, http://www.itlos.org/fileadmin/itlos/documents/press_releases_english/PR_176_E.pdf

On 21 March 2012, the Judges of the International Tribunal for the Law of the Sea re-elected Mr Doo-young Kim, of Korean nationality, Deputy Registrar of the Tribunal.

Launch of the KLRCA Fast Track Rules 2nd Edition 2012

Mar 7, http://www.rcakl.org.my/scripts/list-posting.asp?recordid=236

Download: http://www.klrca.org.my/userfiles/File/KLRCA_FastTrackRules_2ndEd_2012.pdf

KLRCA launched its revised KLRCA Fast Track Rules, aptly renamed KLRCA Fast Track Rules 2nd Edition 2012, at a launching ceremony officiated by Yang Amat Arif Tan Sri Arifin Zakaria, Chief Justice of Malaysia, on 27 February 2012 in Mandarin Oriental Hotel, Kuala Lumpur.

When it was first launched in 2010, the Fast Track Rule delivered a much sought-after option to resolving commercial disputes in Malaysia, offering an alternative to litigation. Catering to the demands of corporate society for expediency, KLRCA's Fast Track Rules 2010 enabled smaller quantum disputes (those amounting to less than RM1 million) to be settled within a maximum of 140 days.

However, KLRCA has revised its Fast Track Rules, given the recent developments in alternative dispute resolution (ADR) in the country, namely, the recent 2011 amendments to the 2005 Arbitration Act and soon-to-be-passed Construction Industry Payment and Adjudication Act.

In his officiating address, Yang Amat Arif Tan Sri Arifin congratulated KLRCA's and its Working Committee's swiftness in updating its Fast Track Rules. "I foresee that this set of rules will revolutionise the local arbitration scene, putting Malaysia in a promising seat of international arbitration and put KLRCA in good stead towards its aim in becoming the preferred arbitration centre in the region", he pronounced.

ICJ: Maritime Dispute (Peru v. Chile) - The Court to hold public hearings from Monday 3 to Friday 14 December 2012

Mar 22, http://www.icj-cij.org/docket/files/137/16957.pdf

The International Court of Justice (ICJ), the principal judicial organ of the United Nations, will hold public hearings in the case concerning Maritime Dispute (Peru v. Chile) from Monday 3 to Friday 14 December 2012, at the Peace Palace in The Hague, the seat of the Court.

ICJ: New - 2012/14 - Frontier Dispute (Burkina Faso/Niger) - The Court to hold public hearings from Monday 8 to Wednesday 17 October 2012

Mar 22, http://www.icj-cij.org/docket/files/149/16955.pdf

The International Court of Justice (ICJ), the principal judicial organ of the United Nations, will hold public hearings in the case concerning the Frontier Dispute (Burkina Faso/Niger) from Monday 8 to Wednesday 17 October 2012, at the Peace Palace in The Hague, the seat of the Court.

The detailed schedule for these hearings, along with information regarding the accreditation and admission procedures, will be distributed in due course.

IACHR Received Delegation from State of Ecuador

Mar 29, http://www.oas.org/en/iachr/media_center/PReleases/2012/035.asp

The Inter-American Commission on Human Rights (IACHR), which is holding its 144th session, met today at its headquarters with a delegation from the government of Ecuador. The delegation included the Minister of Foreign Affairs, Ricardo Patiño; the State Attorney General, Diego García; the Minister of Justice, Human Rights, and Worship, Johana Pesántez; the National Communications Secretary, Fernando Alvarado; and other high-level officials.

The meeting was requested by the government of Ecuador in order to "express its conceptual concerns and concerns regarding Commission procedures with respect to the adoption of precautionary measures and the processing of individual petitions in the inter-American system." In a letter dated March 19, the Commission granted a private meeting for March 29 and specified that "the meeting will be held to discuss procedures related to precautionary measures and petitions and cases, without reference to any specific matter."

After learning that a press conference had been convened with the Ecuadorian Foreign Minister under the title "Government of Ecuador will state its position to the IACHR on the request for precautionary measures in the case of El Universo," Commission Chair José de Jesús Orozco reminded the delegation that the meeting had been requested solely to discuss matters of a general nature. He explained that the IACHR could not take into account any reference made to pending matters without the presence of the other party, as this would violate the principle of procedural equality between the parties.

The Inter-American Commission regrets that in spite of this, the representatives of the State opted to make references to the precautionary measure and case involving the newspaper El Universo (Petition 1436/11 and PM 406/11). It also informs the public, just as it alerted the State delegation, that these references will not be taken into account in evaluating particular petitions or cases, and that they have not and will not be recorded in the Commission's files.

A principal, autonomous body of the Organization of American States (OAS), the IACHR derives its mandate from the OAS Charter and the American Convention on Human Rights. The Inter-American Commission has a mandate to promote respect for human rights in the region and acts as a consultative body to the OAS in this area. The Commission is composed of seven independent members who are elected in an individual capacity by the OAS General Assembly and who do not represent their countries of origin or residence.

EFTA and India pursue free trade negotiations

Mar 8, http://www.efta.int/free-trade/free-trade-news/2012-03-08-efta-india-11th-rnd-fta.aspx

During this round, further steps were made towards fully-fledged negotiations on market access for industrial and agricultural products as well as services. Other topics discussed included trade in fish and other marine products, rules of origin, government procurement and sustainable development.

Energy Charter and the Arab League Sign a Memorandum of Understanding

Mar 19, http://www.encharter.org/index.php?id=21&id_article=273&L=0

Today the Energy Charter Secretariat and the Secretariat General of the League of Arab States signed a Memorandum of Understanding on issues concerning energy cooperation between the two organisations.

Energy Charter: Secretary General Rusnák Discusses the Charter's Modernisation Process with German Authorities

Mar 13, http://www.encharter.org/index.php?id=21&id_article=271&L=0

On 13 March Secretary General Urban Rusnák held a series of meetings with German officials in Berlin. At the Federal Ministry of Economics and Technology, he met with Ms. Ursula Borak, Director for European and International Energy Policy to discuss new initiatives which would allow member states to benefit further from their involvement in the Energy Charter Process. An exchange of views on the Charter's modernisation and consolidation process took place with Amb. Stephan Auer, Director for Globalisation, Energy and Climate Policy at the Federal Foreign Office.

Discussions continued at the Federal Chancellery, where Amb. Rusnák met with Dr. Winfried Horstmann, Director for Industrial and Energy Policy. Discussions focused in particular on the role of the Energy Charter Treaty's investment protection provisions.

Following the official bilateral meetings, Amb. Rusnák took part in a round table discussion organised by the German Institute for International and Security Affairs (Stiftung Wissenschaft und Politik), where he invited researchers and industry representatives to participate in the discussion on the Charter's modernisation as well as its contribution to the issue of global energy governance.

National Arbitration Forum Receives 2,082 International Domain Name Dispute Complaints in 2011

Apr 4, http://news.yahoo.com/national-arbitration-forum-receives-2-082-international-domain-190714371.html

The National Arbitration Forum (FORUM), an international provider of dispute resolution services, today announced that a total of 2,082 cases were filed in its domain name dispute resolution program in 2011, up 18 percent from 2009 (1,759 cases) and down four percent from 2010 (2,177 cases). Since the FORUM's first case in 1999, nearly 18,000 cases have been filed as of the end of 2011. The FORUM is approved by the Internet Corporation of Assigned Names and Numbers (ICANN) to provide domain name dispute resolution services under policies like the Uniform Domain Name Dispute Resolution Policy (UDRP).

ACICA: India's Adani Group backs Australia as dispute resolution destination

Apr 5, http://acica.org.au/assets/media/news/IndiaACICA2012MediaRelease.pdf

India's Adani Group has endorsed Australia as an international dispute resolution destination following successful briefings in Mumbai and New Delhi conducted by the Australian Centre for International Commercial Arbitration (ACICA). Adani's spokesman said ACICA offered a credible platform for dispute management.

African governments once rushed into signing bilateral investment treaties to encourage FDI. Lawyers are now calling for new models.

Mar 8, http://allafrica.com/stories/201203081038.html

With much of Africa's investment coming from abroad, how governments manage complaints from foreign companies is a vital determinant of the business environment. For decades, foreign investors depended on diplomatic protection from home governments in their overseas adventures, which occasionally gave rise to "gunboat diplomacy". The US, for example, sent troops into Latin America 34 times to settle commercial disputes.

...

In Zimbabwe, cases have been brought in objection to the ruling Zanu-PF party's arbitrary and at times violent land reform programme. Broad and ambiguous terms have been a central problem of many agreements, says Jansen Calamita, senior research fellow in international trade and investment law at the British Institute of Comparative and International Law. "BITs are an agreement by the host state to accept the application of external standards to determine the legality of its actions - standards above and beyond the state's constitution and national law. If the standards agreed are not clear - as they largely are not - it will be left to tribunals to give meaning and effect to those standards."

Algeria: Anadarko Announces Resolution of Algeria Tax Dispute

Mar 8, http://www.anadarko.com/Investor/Pages/NewsReleases/NewsReleases.aspx?release-id=1671189

Anadarko Petroleum Corporation (NYSE: APC) today announced it has reached an agreement with Sonatrach to resolve the dispute regarding Sonatrach's implementation of Algeria's 2006 exceptional profits tax (TPE). The parties' agreement will become effective upon approval by Algerian government authorities, estimated to occur within the next four months. Upon such approval, the existing arbitration proceeding between the parties will be dismissed.

"We are very pleased to have reached a fair and balanced resolution that will return significant value to Anadarko," said Anadarko President and Chief Operating Officer Al Walker. "This amicable solution maintains our long-standing partnership with Sonatrach that has achieved tremendous success in Algeria, surpassing 1.5 billion BOE (barrels of oil equivalent) of cumulative production and advancing the El Merk mega project toward first production."

The agreement, based on reciprocal concessions, provides for delivery to Anadarko of additional crude oil volumes in the amount of approximately $1.8 billion over a period of 12 months from the effective date. Additionally, the parties have agreed to amend the existing Production Sharing Agreement (PSA) to provide that Anadarko will receive a higher volume of profit barrels. The effect of the amendment will, using current commodity prices and discounted at 10 percent, provide Anadarko with approximately $2.6 billion of additional net present value over the remaining term of the PSA. The amendment also confirms the term for each development license granted under the PSA will be extended, in accordance with the terms of the PSA, and as a result, will now be 25 years from the original effective date.

Antigua and Barbuda: US Congress Moves Spark Reaction

Mar 19, http://www.caribarena.com/antigua/news/latest/100022-us-congress-moves-spark-reaction.html

Antigua St John's - Ten United States Congressmen have asked Chairman of the House Committee on Foreign Affairs, Ileana Ros-Lehtinen, to hold a congressional hearing to investigate the Government of Antigua & Barbuda's role in the Stanford Financial Group's US$ 7 billion Ponzi scheme.

...

It also mentions the illegal expropriation of US citizen-owned Half Moon Bay.

See also "US seeks hearing into Ponzi scheme" http://jamaica-gleaner.com/gleaner/20120318/news/news33.html

Apology dispute avoids lucrative Turkey, Israel natural gas partnership

Mar 18, http://www.todayszaman.com/news-274599-apology-dispute-avoids-lucrative-turkey-israel-natural-gas-partnership.html

As the rift between the two countries continues to deepen, Turkey and Israel seem unlikely to come to a compromise in the near future over restoring the economic and military ties that could bring great benefits to both countries.

In an interview with Sunday's Zaman, energy and security analyst Emre Iseri said the human factor is emerging as the main trend of Turkey's policies on Israel. The deadly Mavi Marmara raid conducted by Israeli commandos in 2010 greatly improved "Turkish prestige in the international arena."

Apotex drug maker sues U.S. for $520 million under NAFTA

Mar 14, http://www.thestar.com/business/article/1146372--apotex-drug-maker-sues-u-s-for-520-million-under-nafta

Canada's largest generic drug maker is seeking $520 million U.S. in damages from the U.S. government, saying an "import alert" that prevented it from shipping to the U.S. for nearly two years violated the North American Free Trade Agreement.

See Apotex Inc v United States of America - NAFTA - Request for Arbitration - 29 February 2012 https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=7353

Arbitration on Dhaka-Delhi sea row on: Dipu Moni

Mar 17, http://www.bdnews24.com/details.php?id=220511&cid=3

Foreign minister Dipu Moni has said arbitration process to settle maritime boundary dispute between Bangladesh and India is going ahead.

She said this when new Indian high commissioner Pankaj Saran paid a courtesy call on her on Saturday.

"The issues would be resolved in due course," a foreign ministry press statement quoted Dipu Moni.

Argentina Provinces Could Revoke More YPF Concessions

Mar 27, http://www.foxbusiness.com/news/2012/03/27/argentina-provinces-could-revoke-more-ypf-concessions/

Governors from Argentina's top oil-producing provinces could revoke more concessions held by the country's largest energy producer, YPF SA (YPF, YPFD.BA), as part of an ongoing dispute over investment and production.

Argentina will sue over Falklands oil exploration

Mar 15, http://www.reuters.com/article/2012/03/15/us-argentina-falklands-oil-idUSBRE82E10M20120315

Reuters - Argentina will take legal action against any companies involved in oil exploration off the disputed Falkland Islands as part of a drive to pressure Britain into sovereignty talks, the foreign minister said on Thursday.

Argentina's Chubut Province Revokes Two YPF Concessions

Mar 14, http://online.wsj.com/article/BT-CO-20120314-715939.html

Dow Jones - YPF, Argentina's leading oil and gas company, suffered a major setback Wednesday as a provincial government revoked two of its concessions in a dispute over production and investment.

Argentina's President Cristina Replies To U.S Trade Suspension Decision

Mar 28, http://www.bernama.com/bernama/v6/newsworld.php?id=655342

BERNAMA-NNN-MERCOPRESS - President Cristina Fernandez questioned US president Barack Obama's recent decision to suspend trade benefits for Argentina, while complaining that "we can't even manage to get one of our lemons to enter the US market."

Argentina's YPF Loses Another Concession, May Lose 4 In Chubut

Apr 1, http://www.foxbusiness.com/news/2012/04/01/argentinas-ypf-loses-another-concession-may-lose-4-in-chubut/

BUENOS AIRES - YPF, Argentina's leading oil and gas company, suffered more setbacks this weekend after Neuquen province revoked another of the firm's concessions and Chubut province said it could revoke four others.

Argentina: YPF Loss Two More Argentine Concessions

Mar 23, http://online.wsj.com/article/SB10001424052702304636404577299752942264524.html

Mendoza is the fourth province after Neuquen, Chubut and Santa Cruz to revoke YPF concessions. The provinces said the company, in which Spain's Repsol YPF SA has a controlling stake, hasn't invested enough in its operations to increase oil-and-gas production.

Argentina: YPF to Sue Argentine Province After Losing 9% of Oil Output - Businessweek

Mar 15, http://www.businessweek.com/news/2012-03-15/ypf-to-sue-argentine-province-after-losing-9-percent-of-oil-output

YPF SA (YPFD), the Argentine oil producer that will lose 9 percent of its output after operating licenses were revoked, will sue the province of Chubut as a dispute with the government escalates over investments.

Argentine Province Pulls Oil Concessions Held By Petrobras, Others

Apr 4, http://www.foxbusiness.com/news/2012/04/04/argentine-province-pulls-oil-concessions-held-by-petrobras-others/

BUENOS AIRES - Argentina's Neuquen province has revoked oil and gas concessions held by three companies, including Petrobras Argentina SA, in a broader dispute over investment in exploration and production.

Australia-Spain: Berkeley Initiates International Arbitration against Enusa for an amount exceeding US$200 million

Apr 2, http://www.berkeleyresources.com.au/assets/Uploads/12.04.02-Berkeley-initiates-arbitration-against-Enusa.pdf

Pursuant to the announcement of the 1st of March 2012, Berkeley Resources Ltd (`Berkeley Resources' or the `Company') advises that the Company's wholly-owned subsidiary, Berkeley Minera España ('BME'), has initiated International Arbitration proceedings against Enusa Industrias Avanzadas, S.A ("Enusa"), through the Paris-based International Court of Arbitration of the International Chamber of Commerce.

It is the opinion of Berkeley, and its legal advisors in Spain, that Enusa has, on a number of occasions, unjustifiably refused to honour its contractual obligations under the Co-operation Agreement of 29 January, 2009. In particular, it failed to incorporate the Joint Venture company 'Newco' (90% BME, 10% Enusa) on the 29th February 2012, resulting in a clear breach of that Agreement.

In addition to the complete fulfilment of BME's obligations, BME has also provided Enusa with numerous opportunities to achieve a satisfactory outcome and to avoid arbitration. These included the granting of multiple extensions to postpone the formation of Newco, and offering alternative, viable options to progress the project.

The Co-operation Agreement establishes that the consequences of such an event of material breach shall be that Enusa will return to BME the non-amortised value of all its investments made and expenses incurred. This includes (a) five million euro (5,000,000) to acquire the data and (b) any evidenced expenses in which it may have incurred to carry out the Feasibility Study, whether or not it has been completed. Enusa will also compensate BME for any damages caused, including any reasonable loss of profits.

BME is claiming compensation for a total amount estimated to be in excess of US$200M, for the damages and losses caused by Enusa's breach of the Co-operation Agreement.

Berkeley considers that it has a strong case. This assessment is based on a number of factors, including: an independent technical review (undertaken by a leading Spanish-based international engineering company) of the Restricted Feasibility Study's Conceptual Basic Engineering Report; an audit of the project economics (undertaken by Spanish-based auditors specialising in litigation); and advice from BME's international legal advisors in Spain, who have considerable experience in successful commercial arbitration actions within the country.

BME has informed Enusa that the Company is prepared to collaborate at any time with the aim of achieving an amicable solution, independent of any arbitration proceedings. Berkeley Managing Director, Brendan James stated "Delays on the joint venture project have been disappointing, and could not be allowed to continue indefinitely. Arbitration is not the preferred outcome for Berkeley, or for the region of Ciudad Rodrigo, but one we are forced to undertake to defend our rights, and to achieve a resolution. It is important to note that this action will not distract the management team from delivering upon Berkeley's 100%-owned Salamanca I project. Being completely independent of the Joint Venture Project, the Salamanca I project remains on-schedule, and we expect to initiate construction in 2013".

Australia: Flinders' $576 Million Takeover By Magnitogorsk Delayed

Apr 3, http://blogs.wsj.com/dealjournalaustralia/2012/04/03/flinders-576-million-takeover-by-magnitogorsk-delayed/

Australia's Flinders Mines said Tuesday its 554 million Australian dollar (US$575.8 million) takeover by Magnitogorsk Iron & Steel Works has been delayed indefinitely after one of the Russian steelmaker's shareholders secured an injunction halting the deal's approval.

Bangladesh to add offshore gas blocks after dispute with Burma ends

Mar 24, http://www.nl-aid.org/continent/south-asia/bangladesh-to-add-offshore-gas-blocks-after-dispute-with-burma-ends/

Bangladesh wants to add two new offshore oil and gas exploration blocks to the country's map in the eastern Bay of Bengal. The dispute resolution under the United Nations Convention on the Law of the Sea (UNCLOS) on March 14 may also clear Myanmar's claims over six existing blocks. A top official on Thursday said Bangladesh eyes fresh mapping of offshore gas blocks as dispute ends with Burma, also known as Myanmar soon after the copy of judgment.

Bangladesh: Minister ousts TCG chief as Haldia chairman

Mar 27, http://www.livemint.com/2012/03/27234517/Minister-ousts-TCG-chief-as-Ha.html

The spat between the West Bengal government and The Chatterjee Group (TCG)-the sparring co-promoters of Haldia Petrochemicals Ltd (HPL)-intensified on Tuesday with the state's commerce and industries minister Partha Chatterjee securing his appointment as the company's chairman by majority support of directors and TCG telling HPL's board that it had moved the court of arbitration of Paris-based International Chamber of Commerce (ICC) for settlement of all outstanding disputes.

See also http://business-standard.com/india/news/chatterjee-group-drags-bengal-govt-to-international-court/469320/

Bloomberg charity adds $220 million to anti-smoking effort

Mar 22, http://www.reuters.com/article/2012/03/22/us-tobacco-bloomberg-idUSBRE82L08E20120322

Reuters - Michael Bloomberg's charitable foundation will commit $220 million over the next four years to fight tobacco use globally, including for the funding of legal challenges against the industry.

Bolivia plans first bond since early 1900s

Mar 18, http://www.ft.com/intl/cms/s/0/158b5eea-710d-11e1-a7f1-00144feab49a.html

FT - Bolivia barely blips on investors' radar screens and when it does it is usually for the wrong reasons, such as its gas nationalisation in 2006. But the Andean nation, led by Evo Morales, an indigenous socialist bent on putting the state in the driving seat of the resource-based economy, is courting international capital.

Brazil: Insurers Seeking To Avoid Payout On Brazil's Jirau Dam

Mar 12, http://news.morningstar.com/all/dow-jones/utilities/201203130935/000210/insurers-seeking-to-avoid-payout-on-brazils-jirau-dam-report.aspx

Dow Jones - Insurers of Brazil's Jirau hydroelectric dam are refusing to pay claims on as much as 1 billion Brazilian reais ($550 million) in damages that resulted from a workers' protest last year, the Estado de S. Paulo newspaper reported Tuesday.

Bulgaria faces penalties amounting to way over USD 58 M over the cancellation of the Belene NPP project-Media

Mar 30, http://www.balkans.com/open-news.php?uniquenumber=140643

Bulgaria faces penalties amounting to way over USD 58 M over the cancellation of the Belene NPP project, Russian media warn.

Bulgaria: Bulgaria Refuses to Pay Russia Damages over Belene N-Plant

Mar 22, http://www.novinite.com/view_news.php?id=137782

"Bulgaria will not have to pay damages if it withdraws from Belene project. Formally the project is based on an intergovernmental agreement between Bulgaria and Russia, not on a contract," Finance Minister Simeon Djankov told the morning broadcast of state TV BNT on Thursday.

Bulgaria: Bulgaria Sends Minister to Russia after Scrapping Belene NPP

Mar 29, http://www.novinite.com/view_news.php?id=137988

Bulgaria´s government announced on Wednesday it has abandoned plans to build a new, 2000 megawatt nuclear power plant on the Danube River for which it has contracted Russian state firm Atomstroyexport.

Bulgaria: Bulgarian Govt to Grant Concession for Sofia Airport

Mar 10, http://www.novinite.com/view_news.php?id=137433

In a Saturday interview for a weekly program of Darik radio, he explained that the measure was necessitated by the fact that Sofia Airport had been sentenced by the ICC International Court of Arbitration to pay USD 38 M to the Kuwaiti consortium contracted to build the runway on Terminal 2.

Bulgaria: Bulgarian-Russian Nuclear Project Grows More Mysterious, Set for New Delay

Mar 26, http://www.novinite.com/view_news.php?id=137894

The fate of the Belene Nuclear Power Plant project, which is supposed to become Bulgaria's second NPP, has remained even more unclear after Monday's phone conversation between the prime ministers of Bulgaria and Russia.

Bulgarian EconMin Faces Tough Belene N-Plant Talk in Moscow: Bulgarian EconMin Faces Tough 'Belene' Talk in Moscow

Mar 30, http://www.novinite.com/view_news.php?id=138026

Atomstroyexport, the Russian contractor selected to build the Belene NPP, will not give up on the lawsuit for EUR 58 M against Bulgaria's National Electric Company (NEK) at the International Court of Arbitration in Paris.

Canada: Isotechnika Receives Notice of ILJIN's Request for Arbitration [pdf]

Mar 28, http://www.isotechnika.com/dnn/LinkClick.aspx?fileticket=rpLGMI5_DPI%3d&tabid=92&mid=671

Isotechnika Pharma Inc. announced today that, further to its press release of January 31, 2012, it has received notification that ILJIN Life Science Co., Ltd. ("ILJIN") has submitted a request for arbitration relating to Isotechnika's termination of their Development, Distribution and License Agreement (the "DDL").

"We are confident that our termination of the original DDL is valid, and are prepared for arbitration proceedings," commented Dr. Robert Foster, Isotechnika's CEO. "Our Company is equipped with the full rights to voclosporin for transplant and autoimmune indications in the United States, Europe and other regions outside of Canada, Israel, South Africa, China, Taiwan and Hong Kong. We plan on continuing to engage companies, including ILJIN, who have expressed interest in working with us to advance our lead program."

Canada: Ottawa will have a say in Glencore-Viterra deal

Mar 20, http://www.reuters.com/article/2012/03/20/us-viterra-glencore-minister-idUSBRE82J14R20120320

"The investor has informed officials that an application will be filed soon," said Michel Cimpaye, a spokesman for Industry Canada. "The minister of industry only approves an application where he is satisfied that an investment is likely to be of net benefit to Canada," he said.

China Maritime Law Association visits Scottish Arbitration Centre

Mar 14, http://www.scottisharbitrationcentre.org/index.php/archives/519

A delegation from the China Maritime Law Association (CMLA) visited Edinburgh on 13 and 14 March as part of its tour of Europe.

China: New CIETAC Arbitration Rules to be Effective on 1 May 2012

Feb 27, http://www.cietac.org/index/news/477b3d6f8bcbfa7f001.cms

Having thoroughly studied the latest development of international arbitration and public comments, CIETAC has now finalized its revision on the Arbitration Rules after several rounds of amendments. CIETAC Arbitration Rules (2012) has been approved by CCPIT/CCOIC and will come into effect from 1 May 2012.

CIETAC is grateful to all the interest and support received in the revision process, and will always provide fair and efficient dispute resolution services to parties home and abroad. To see the CIETAC Arbitration Rules (2012), please visit http://www.cietac.org/index.cms.

China: Sinovel requests $16.7m refund from AMSC

Feb 29, http://www.windpowermonthly.com/go/asiaPacific/news/1119626/Sinovel-requests-167m-refund-AMSC/

Sinovel has appealed to Beijing Arbitration Commission requesting it to rule AMSC refund CNY 104.7 million ($16.7 million) for products bought as part of a deal in 2008.

Crystallex Adopts New Shareholder Rights Plan

Mar 16, http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2012/Crystallex-Adopts-New-Shareholder-Rights-Plan1128650/default.aspx

Crystallex International Corporation today announced that its Board of Directors (the "Board") has voted to adopt an additional shareholder rights plan (the "New Rights Plan"). The New Rights Plan does not replace the original shareholder rights plan of the Company dated as of June 22, 2006 (the "Existing Rights Plan") which is expected to expire this year. The Board adopted the New Rights Plan because the Existing Rights Plan may not adequately serve the interests of the Company due to the changed circumstances of the Company, including the ongoing dispute between the Company and the Bolivarian Republic of Venezuela which has led to the arbitration case between such entities and the filing for court protection by the Company under the Companies' Creditors Arrangement Act (Canada) ("CCAA").

The New Rights Plan is not being adopted in response to any proposal to acquire control of the Company. Under the New Rights Plan, take-over bids which meet certain requirements intended to protect the interests of all shareholders continue to be exempted from the dilutive aspects of the plan and are deemed to be "Permitted Bids". Permitted Bids must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and, among other conditions, must remain open for sixty days.

A copy of the New Rights Plan together with a summary thereof will be available for review under the Company's profile at www.sedar.com, and on the Company's website at www.crystallex.com, by March 19, 2012.

Although the New Rights Plan will take effect immediately, the Company will submit the New Rights Plan for confirmation at the next meeting of shareholders; and the New Rights Plan will expire at the third annual meeting of shareholders thereafter. If the shareholders do not confirm the New Rights Plan at the next meeting of shareholders, the New Rights Plan will terminate and cease to be effective at that time.

Czech Republic: Spat between pipeline companies and Czech refiner could end in court

Mar 12, http://www.ceskapozice.cz/en/business/companies/spat-between-pipeline-companies-and-czech-refiner-could-end-court

Mero boss Pantucek says that if Ceská rafinérská does not pay its debt stemming from the higher TAL tariffs, the Czech pipeline operator will have no choice but to launch arbitration proceedings against the Polish-controlled refiner. "Ceská rafinérská is clearly in breach of contract, mutual negotiations have led nowhere, so now Mero must consider further steps, which could result in the launch of an arbitration suit against Ceská rafinérská," Pantucek said.

Dubai: Delay to register off plan unit is no excuse for cancelling SPA: Dubai Court

Apr 6, http://www.emirates247.com/business/corporate/delay-to-register-off-plan-unit-is-no-excuse-for-cancelling-spa-dubai-court-2012-04-06-1.452538

A delay in developer's failure to register "off-plan" units with the Dubai Land Department (DLD) is unlikely to be a reason anymore for investors, seeking cancellation of the sales and purchase agreements (SPAs) and demanding a full refund.

Clyde & Co, a law firm, said in an update, it has succeeded in nullifying DIAC (Dubai International Arbitration Centre) arbitral awards relating to Article 3 of Law 13 of 2008 regulating the Interim Real Estate Register in the Emirate of Dubai.

Ecuador: El Universo Ask IACHR to Dismiss Precautionary Measures

Mar 2, http://www.ecuadortimes.net/2012/03/02/el-universo-ask-iachr-to-dismiss-precautionary-measures/

The defense attorney of the Perez brothers and Emilio Palacio requested to the Inter-American Commission of Human Rights (IACHR) to dismiss the precautionary measures placed on his favor due to the sentence of Case El Universo.

Ecuador: El Universo Case: Ecuador Will Attend Hearing With IACHR

Feb 27, http://www.ecuadortimes.net/2012/02/27/el-universo-case-ecuador-will-attend-hearing-with-iachr/

Ecuador will attend the hearing called by Inter-American Commission of Human Rights (IACHR) to deal with the sentence of El Universo case. Chancellor Ricardo Patiño, added that the Ecuadorian president, Rafael Correa "requested that I participate and attend this meeting."

Ecuador: Human Rights Court Will be Performed in Guayaquil

Mar 31, http://www.ecuadortimes.net/2012/03/31/human-rights-court-will-be-performed-in-guayaquil/

Diego García the general prosecutor of the Ecuadorian state, met with the President and the secretary of the Inter-American Commission on Human Rights (IACHR), Diego Garcia-Sayan and Pablo Saavedra Alessandri to set the details about the 45 period of sessions that the group would perform in Guayaquil from April 23 to 27.

Ecuador: IACHR Answers Correa Governments Accusations

Mar 31, http://www.ecuadortimes.net/2012/03/31/iachr-answers-correa-governments-accusations/

The Inter-American Commission on Human Rights (IACHR) defended itself against the accusations received yesterday by the Ecuadorian government regarding the precautionary measures about El Universo case.

Last Thursday, Ricardo Patiño, the Ecuadorian Foreign minister, denounced to the Organization of American States (OAS) that IACHR overstepped its boundaries in El Universo Case and called it "inquisitor of the states."

...

Ecuador: IACHR Dismissed the Complaints the Ecuadorian Foreign Minister

Mar 30, http://www.ecuadortimes.net/2012/03/30/iachr-dismissed-the-complaints-the-ecuadorian-foreign-minister/

The Inter-American Commission of Human Rights (IACHR) reported that the topics discussed at the special meeting in the Permanent Council of the Organization of American States (OAS) with the Ecuadorian government delegation, "will not be taken into account in the evaluation of petitions or specific cases, and have not been nor will they be registered in their files."

Ecuador: IACHR Dismissed the Precautionary Measures In Favor of El Universo

Mar 10, http://www.ecuadortimes.net/2012/03/10/iachr-dismissed-the-precautionary-measures-in-favor-of-el-universo/

The Inter-American Commission on Human Rights (IACHR) lifted the precautionary measures that had been arranged to set aside the execution of the sentence of three years in prison and the payment of a compensation of $ 40 million imposed to the executive directors (Carlos, Cesar and Nicolas Perez) and former editor of Opinion (Emilio Palacio) of El Universo newspaper.

Ecuador: IACHR Gives Ecuador Two Months to Answer for Demand

Mar 9, http://www.ecuadortimes.net/2012/03/09/iachr-gives-ecuador-two-months-to-answer-for-demand/

The Inter-American Commission of Human Rights (IACHR) accepted the process of the demand against the Ecuadorian State for violating the human rights of the directors of El Universo newspaper and its former editor of opinion Emilio Palacio.

Ecuador: IACHR Published Precautionary Measures for El Universo Directors

Feb 22, http://www.ecuadortimes.net/2012/02/22/iachr-published-precautionary-measures-for-el-universo-directors/

Yesterday the Inter-American Commission of Human Rights (IACHR) published precautionary measures for the directors of El Universo and the former editor of opinion Emilio Palacio.

Ecuadorean Judge Who Nailed Chevron for Billions Gets the Boot

Mar 8, http://www.courthousenews.com/2012/03/08/44541.htm

Chevron says the recent dismissal of a judge suspected of corruption in Ecuador has greased the wheels in its efforts to discredit an oil-contamination judgment as a fraud.

Media outlets reported from Quito, Ecuador, on Wednesday that nation's Board of Judges passed a resolution to dismiss Judges Nicolas Zambrano and Leonardo Ordonez. The resolution states that the jurists "were either deceitful or grossly negligent in the 'inexcusable error' of not ordering preventive detention in October 2009 for a suspect caught with a half ton of cocaine," according to the Associated Press.

...

Ecuadorian Government May Not Apply IACHR Precautionary Measures

Feb 23, http://www.ecuadortimes.net/2012/02/23/ecuadorian-government-may-not-apply-iachr-precautionary-measures/

Chancellor Ricardo Patiño, stated that the Ecuadorian government believes its 'impossible' to allow the precautionary measures requested by the Inter-American Commission of Human Rights (IACHR) that favour the directors of El Universo and the former editor of opinion Emilio Palacio after the sentence for libel accusations.

Ecuadorian journalists and foreign minister will be received by IACHR

Mar 27, http://www.ecuadortimes.net/2012/03/27/ecuadorian-journalists-and-foreign-minister-will-be-received-by-iachr/

Next Thursday Human Rights Organizations and Ecuadorian journalists will meet with members of the Inter-American Commission of Human Rights (IACHR), to continue with the debate of free speech in Ecuador.

Falkland Islands oil dispute: UK hits back at Argentina

Mar 16, http://www.bbc.co.uk/news/world-latin-america-17395537

Foreign minister Hector Timmerman had threatened legal action against firms drilling off the UK territory, over which Argentina claims sovereignty. But the UK Foreign Office said it was a legitimate commercial venture.

Falklands: Argentina Says U.K. Oil Explorers Breaking Law in Falklands

Mar 22, http://www.businessweek.com/news/2012-03-22/argentina-says-u-dot-k-dot-oil-explorers-breaking-law-in-falklands

Desire Petroleum Plc (DES), Rockhopper Exploration Plc (RKH), Borders & Southern Petroleum Plc (BOR) and Falkland Oil & Gas Ltd. (FOGL) will face "legal actions," the ministry said in statements to the London and New York stock exchanges today. Shareholders in the companies as well as banks and service providers, including UBS AG (UBSN), Barclay's Plc and Royal Bank of Scotland Group Plc (RBS), were named in the letters.

GCC on track to set up arbitration court

Mar 19, http://www.timesofoman.com/innercat.asp?cat=&detail=1608&sec=news

A Gulf Court of Justice to settle commercial disputes between member states of the Gulf Corporation Council (GCC) or between a GCC state and a non-GCC state has been welcomed by a top judicial authority

Germans seek lawsuits over Greek debt swap

Mar 12, http://www.ft.com/intl/cms/s/0/79ed422c-6c67-11e1-bd0c-00144feab49a.html

A German law firm [Gröpper Köpke] is preparing lawsuits against banks and the Greek state on behalf of holders of Greek bonds who have been forced to take part in last week's €206bn debt swap, the biggest sovereign restructuring in history.

Germany: E.ON CEO says adjusted gas contracts with Statoil

Mar 14, http://www.reuters.com/article/2012/03/14/eon-statoil-idUSL5E8EE2O120120314

Reuters - E.ON said on Wednesday it had renegotiated gas purchasing contracts with Norway's Statoil, to a level bound to reduce its loss position, while talks over a gas contract dispute with Russia's Gazprom continued.

Ghana: Ratel Group Limited: advice on notice from Westchester Resources Limited

Mar 6, http://www.ratelgroup.com/docs/TSX/2012/060312%20WestchesterAnnouncement.pdf

The Board of Ratel Group Limited announces subsequent to Ratel's announcement on 3 November 2011 that the contract to acquire CAML Ghana Limited ("CAML Ghana") (the holder of the interest in the Obuasi Joint Venture) had been terminated, Westchester Resources Limited (the other party to the Obuasi Joint Venture) issued proceedings in the High Court of Ghana against a number of parties, including Ratel, which was served on 29 February 2012.

Ratel understands that these proceedings deal with the same factual issues that are the subject of arbitration proceedings commenced in November 2011 by CAML Ghana Limited, an unrelated entity to Ratel, against Westchester Resources Limited in the London Court of International Arbitration and which are still underway; Ratel is not a party to those proceedings and understands that central to both proceedings is a dispute as to whether CAML Ghana held a legal interest in the Obuasi tenement, which Ratel is confident will be confirmed.

The orders sought in the Ghanaian proceedings against Ratel are unsubstantiated and without foundation. The Board believes that the Company has no liability to Westchester in respect to any of the allegations made against it in the writ.

Honduras: The AFL-CIO Joins Honduran Trade Unions in Filing a Petition with Department of Labor against Honduran Government for Failing to Enforce Labor Laws under Trade Agreement

Mar 29, http://www.aflcio.org/Press-Room/Press-Releases/The-AFL-CIO-Joins-Honduran-Trade-Unions-in-Filing-a-Petition-with-Department-of-Labor-against-Honduran-Government-for-Failing-to-Enforce-Labor-Laws-under-Trade-Agreement

Petition focuses on the Honduran government's failure to enforce labor laws in three export-related sectors: manufacturing, agriculture, and port operations.

This week the AFL-CIO joined the main Honduran trade unions to file a petition with the Department of Labor's Public Office of Trade & Labor Affairs (OTLA) concerning the failure of the government of Honduras to effectively enforce its labor laws and comply with its commitments under the Dominican Republic-Central America Free Trade Agreement (DR-CAFTA).

Hungary Sued for Political Interference in Radio Frequency Bids

Apr 4, http://www.bloomberg.com/news/2012-04-04/hungary-sued-for-political-interference-in-radio-frequency-bids.html

Hungary is being sued for political interference in awarding radio licenses, renewing doubts over press freedoms in the nation as the government tries to convince the European Union that it respects media independence.

India seeks treaty revisions to deal with corporate suits

Apr 4, http://www.indianexpress.com/news/india-seeks-treaty-revisions-to-deal-with-corporate-suits/932195/

The government is in talks with countries to amend the investment treaties so that any supposed violation of an investment promise through Indian government action can be challenged only in Indian courts. Currently, India has treaties with Singapore and South Korea, among others, that allow companies coming under their ambit to challenge any adverse policy action by New Delhi as a breach of investment promise in international tribunals.

India, Russia to discuss SSTL licenses

Mar 26, http://www.indiablooms.com/BusinessDetailsPage/2012/businessDetails260312a.php

IBNS - Russian and Indian leaders will reportedly discuss the situation around the revocation of licenses of telecom major Sistema Shyam TeleServices Ltd. (SSTL) - at the BRICS summit in Delhi.

India-Pakistan: Tulbul dispute: India seeks international arbitration

Mar 29, http://economictimes.indiatimes.com/news/politics/nation/tulbul-dispute-india-seeks-international-arbitration/articleshow/12444082.cms

NEW DELHI: Frustrated over prolonged talks over the Tulbul navigation project in Kashmir, India is learnt to have told Pakistan today that it would prefer the option of seeking international arbitration to resolve the over two-decade old dispute.

India: Apex court throws out 2G appeals; cellco remains 'in the Loop'

Apr 4, http://www.telegeography.com/products/commsupdate/articles/2012/04/05/apex-court-throws-out-2g-appeals-cellco-remains-in-the-loop/

India's Supreme Court has dismissed appeals from cellcos affected by the controversial cancellation of 122 2G licences earlier this year, reports DNA India. Russian-backed Sistema Shyam Teleservices Ltd (SSTL) has said that it will consider further legal action: as previously noted by CommsUpdate, the cellco has threatened to seek international arbitration on the grounds that the Indian governmemt has broken the terms of the bilateral investment treaty agreed by India and Russia. SSTL said in a statement: 'It is extremely disappointing to know that SSTL's review petition has not been accepted. To protect its interests further, SSTL currently is in the process of deliberating its future course of legal actions.'

India: Australian coking coal suppliers Vale and AMCI to pay damages to

Apr 2, http://www.steelguru.com/indian_news/Australian_coking_coal_suppliers_Vale_and_AMCI_to_pay_damages_to_SAIL/257138.html

Economic Times reported that Delhi High Court has dismissed the plea of two Australian coal firms, Vale Australia Pty Ltd and AMCI Pty Ltd, against an International Court of Arbitration's order to them for payment of about USD 159 million as damages to the SAIL.

India: Children's Investment Fund (TCI) to invoke India-UK treaty against govt

Mar 27, http://www.business-standard.com/india/news/tci-to-invoke-india-uk-treaty-against-govt/469117/

London-based hedge fund, The Children's Investment Fund (TCI), on Monday said it will initiate legal action against the government under the provisions of the India-UK bilateral investment treaty (BIT). TCI has locked horns with the board of Coal India and its largest shareholder the government of India, over coal pricing policies, which it feels are detrimental to the interests of investors and causing a $20 billion loss to the company on a pre-tax basis.

"This is a much quicker way than going through the Indian courts system," said Oscar Veldhuijzen, partner TCI. Under the treaty, the government and the company will have to come up with responses within a period of six months, failing which the fund has the option to escalate the matter to an independent international tribunal.

India: CIL directors may face personal liabilities, says UK Fund

Apr 3, http://www.firstpost.com/business/cil-directors-may-face-personal-liabilities-says-uk-fund-263729.html

New Delhi: On a day when Coal India was holding a crucial meeting of its directors to decide the next course of action on the impasse over signing fuel supply agreements (FSAs) with power producers, a key minority shareholder - The Children's Investment (TCI) fund - appears set to launch legal action against the company's directors which could result in personal liabilities.

India: Global Inc edgy over Vodafone tax row

Apr 2, http://timesofindia.indiatimes.com/business/india-business/Global-Inc-edgy-over-Vodafone-tax-row/articleshow/12499771.cms

"If enacted, these proposals will significantly alter the Indian taxation of our member companies, with retroactive effect extending back for as much as half a century, and reverse many decided cases. Some of our member companies had already begun reevaluating their investments in India due to increasing levels of controversy and uncertainty regarding taxation in recent years. The sudden and unprecedented move in the Bill has undermined confidence in the policies of the Government of India toward foreign investment and taxation and has called into question the very rule of law, due process, and fair treatment in India. This is now prompting a widespread reconsideration of the costs and benefits of investing in India," the industry bodies said in a joint letter addressed to Prime Minister Manmohan Singh.

India: Haldia stake arbitration on TCG table

Mar 26, http://www.telegraphindia.com/1120327/jsp/frontpage/story_15300105.jsp

The Chatterjee Group (TCG) is weighing the option of moving an international court of arbitration over the ownership of Haldia Petrochemicals Ltd (HPL) after failing to coax the state to part with the majority stake, highly placed sources have said.

India: Luthra & Luthra to fight TCI's case against Coal India

Apr 2, http://economictimes.indiatimes.com/news/news-by-industry/services/consultancy-/-audit/luthra-luthra-to-fight-tcis-case-against-coal-india/articleshow/12499185.cms

The Children's Investment Fund (TCI) has appointed law firm Luthra & Luthra to fight its case against state-owned coal monopoly Coal India and its directors for alleged breach of corporate governance practices. The UK-based hedge fund said government's decision to ask Coal India to sign long-term fuel supply agreements with private power producers is 'prejudicial to the public interest and oppressive to shareholders.

India: Not stated compensation amount to govt, clarifies Telenor (seeking $14 billion in damages)

Mar 27, http://www.firstpost.com/business/telenor-serves-notice-to-goi-claims-damages-worth-14bn-256636.html

Norway's Telenor has not stated any compensation amount in its letter to the government on a possible arbitration after its licences were ordered cancelled by the country's top court, a company spokesman said on Tuesday.

India: RIL move for arbitration on KG D6 gas shot down by govt

Mar 30, http://www.livemint.com/2012/03/30002805/RIL-move-for-arbitration-on-KG.html?h=A1

New Delhi: In a blow to Mukesh Ambani-led Reliance Industries Ltd (RIL), the Union government has declined to join the arbitration proposed by the company to resolve the dispute over the recovery of cost for developing the D6 hydrocarbon field in the Krishna-Godavari (KG) basin.

India: Sistema softens stand, calls for conciliation to resolve disputes

Apr 5, http://economictimes.indiatimes.com/news/news-by-industry/telecom/sistema-softens-stand-calls-for-conciliation-to-resolve-disputes/articleshow/12539935.cms

Russian conglomerate Sistema, which had threatened India with international arbitration proceedings if the government fails to amicably resolve all issues related to its mobile licence cancellation by August 28, has now offered to resolve the dispute through conciliation.

India: Telenor may invoke India-Singapore bilateral pact

Mar 22, http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3155481.ece

Following the footsteps of Russia's Sistema, Norwegian telecom major Telenor may invoke a bilateral pact - the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) - to protect its investments in India's telecom sector.

India: Unitech seeks arbitration in JV dispute with Telenor

Mar 23, http://economictimes.indiatimes.com/news/news-by-industry/telecom/unitech-seeks-arbitration-in-jv-dispute-with-telenor/articleshow/12382578.cms

NEW DELHI: Unitech Ltd on Friday sought the Company Law Board's approval to move a case on a dispute over their telecoms joint venture with Norway's Telenor to an arbitration panel, potentially escalating the row.

India: Unitech to take legal action against Telenor

Mar 10, http://www.sify.com/finance/unitech-to-take-legal-action-against-telenor-news-technology-mdkaOjacbba.html

"The recent FIPB application filed by Telenor Group is breach of non-compete clause in the shareholders' agreement in continuation of oppression of the minority shareholders and we will consider appropriate action under the law to safeguard our rights and interest," Unitech said in a statement. Adding: "A copy of the shareholders agreement is already with FIPB."

India: Vodafone tax case: Co may cite breach of treaty

Mar 30, http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Vodafone-tax-case-Co-may-cite-breach-of-treaty/articleshow/12466782.cms

NEW DELHI: Britain's Vodafone Group could invoke a little-known investment pact between India and the Netherlands that will allow it to claim back taxes it may be forced to pay authorities once Parliament clears a new legislation to tax past transactions.

Indonesia: Churchill Mining to accelerate international arbitration as Indonesia's Supreme Court rejects appeal

Apr 3, http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html

Churchill Mining (LON:CHL) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.

This comes as the firm reported that notations on the register of Indonesia's Supreme Court show the court has rejected the company's appeal.

The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.

"It's disappointing to see this notation on the case register," said chairman David Quinlivan.

"We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."

Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.

Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia's president Susilo Bambang Yudhoyono in November.

The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.

The company has yet to receive a response to the letter.

Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties - namely the United Kingdom - Indonesia Bilateral Investment Treaty.

Preparation of the arbitration claim is well advanced and a 'Request for Arbitration' will be filed shortly, it explained.

Churchill also told investors it currently has US$13.84 million in the bank.

Indonesia: Churchill Mining to consider international arbitration in Indonesia dispute

Mar 16, http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html

Churchill Mining today said it may start international arbitration proceedings against the Republic of Indonesia.

It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.

This has come after the company's significant investment in coal exploration in the country, it adds.

Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing.

If an amicable solution cannot be achieved the company will look to international arbitration, it said.

Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.

The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.

However, the company is currently worth just £16 million as a result of its legal problems.

Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.

It is currently awaiting an appeal in the Supreme Court of Indonesia.

The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.

Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.

Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.

Today, in the group's interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court.

"We have, however, continued to support the local East Kutai communities through ongoing community development and social programs," the company said.

"Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested.

"The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government."

Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.

Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses.

Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.

As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.

See also "Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia" Jan 23 http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html

Indonesia: Global miners to stay in Indonesia despite rule changes

Mar 12, http://www.stabroeknews.com/2012/news/world/03/12/global-miners-to-stay-in-indonesia-despite-rule-changes/

Reuters - Indonesia's decision to shut the door on foreign control of its mines has gone down badly with global miners but none are yet threatening to quit the country: the truth is, they no longer have any easy investment destinations to turn to.

Iran: Turkcell tried to extort US$4.2bn from MTN - source

Apr 5, http://www.businesslive.co.za/southafrica/sa_companies/2012/04/05/turkcell-tried-to-extort-us4.2bn-from-mtn

Cellular network operator MTN was approached by its Iranian mobile license rival Turkcell Iletism late last year in an attempt to "extort" the US$4.2 billion (R33 billion) the Turkish company is now claiming in a US court.

Iraq Says Exxon Freezes Kurdistan Oil Deal

Mar 16, http://online.wsj.com/article/SB10001424052702304692804577285993323131860.html

Senior Iraqi government officials said Friday that Exxon Mobil Corp. has told Iraq's central government that it has frozen an exploration contract with the nation's Kurdistan region, a deal Baghdad strongly opposes.

Iraq's Kurds halt oil exports over payment row

Apr 3, http://www.businessweek.com/ap/2012-04/D9TSQRMG2.htm

Iraq's self-ruled Kurdish region has halted oil exports over a payment row with the central government in Baghdad, the latest dispute in a long-troubled relationship between the two administrations.

Iraq: Maliki compensates oil-rich Kuwait over Iraqi Airways dispute

Mar 14, http://www.middle-east-online.com/english/?id=51213

Kuwait agrees $500 million deal with Baghdad, ending decades-long debt dispute that saw Iraqi Airways flight impounded in London.

Ireland: Draft General Scheme of Mediation Bill 2012

Mar 1, http://www.themii.ie/full-article.jsp?id_news=253

The Minister for Justice, Alan Shatter, has published a draft Mediation Bill which builds on recommendations of the Law Reform Commission draft Bill which was published as part of their 2010 Report on Alternative Dispute Resolution.

Jordan wins arbitration case over light rail project

Mar 7, http://www.menafn.com/qn_news_story_s.asp?storyid=1093490487

Jordan has won an international arbitration case pertaining to the Amman-Zarqa Light Railway Project, according to Minister of Transport Alaa Batayneh.

In a press statement, the official said that the arbitral tribunal that looked into the case decided unanimously on the "legality" of terminating the agreement of the project signed with the International Railway Company for failing to meet the terms of the contract pertaining to financial closure within the deadline stipulated in the agreement.

Jordan: ACC chief, World Bank officials discuss need for law on commercial arbitration

Apr 3, http://jordantimes.com/acc-chief-world-bank-officials-discuss-need-for-law-on-commercial-arbitration

AMMAN - Amman Chamber of Commerce (ACC) Chairman Riad Saifi and two World Bank officials on Tuesday held a meeting that focused on the need for a law on commercial arbitration to resolve disputes between foreign investors and their Jordanian counterparts. During the meeting, the bankers explained the importance of this law to boost investors' confidence and draw new investments into the country.

Kenya: Ahmednasir accused of bias in Mumias Sugar arbitration case

Mar 12, http://www.standardmedia.co.ke/business/InsidePage.php?id=2000053865&cid=14&story=Ahmednasir%20accused%20of%20bias%20in%20Mumias%20Sugar%20arbitration%20case

Mumias Sugar Company (MSC) has applied for the withdrawal of a Nairobi lawyer Ahmednasir Maalim Abdullahi as an arbitrator in the financial dispute between the sugar miller and its outgrowers firm, Moco.

Lithuania: Term for Lietuvos Dujos to decide on separating gas supply and control prolonged

Mar 8, http://www.baltic-course.com/eng/energy/?doc=54258

Minister of Energy Arvydas Sekmokas said that changes to the implementation were necessary due to factual circumstances. One of them is the fact that Russian gas giant Gazprom applied the United Nations core legal body in commercial law UNCITRAL in order to protect its investment.

Mexico Will Keep Oil State-Owned, President Calderon Says

Mar 18, http://www.bloomberg.com/news/2012-03-18/mexico-will-keep-oil-state-owned-president-calderon-says-1-.html

Mexico will keep its oil industry state-owned as government-held oil company Petroleos Mexicanos successfully stemmed output declines in aging fields, Mexican President Felipe Calderon said.

Myanmar drafts new foreign investment rules

Mar 19, http://www.mmtimes.com/2012/news/619/news61915.html

YANGON - Foreigners will no longer need a local partner to set up businesses in Myanmar and may be granted a five-year tax holiday from the start of commercial operations, according to the draft of a new investment law obtained by Reuters.

The long-awaited new investment regulations, along with plans to float its currency, the kyat, from April mark the boldest economic reforms since resource-rich Myanmar emerged from decades of dictatorship last year, its economy decimated by chronic mismanagement and trade-crippling sanctions.

Myanmar parliament approves numerous bills in third session incl. Foreign Investment Law Amendment Bill

Mar 26, http://www.mysinchew.com/node/71772

They mainly include Foreign Investment Law Amendment Bill, Environmental Conservation Bill, Vacant, Fallow and Virgin Land Management Amendment Bill, 2011 Farmland Bill, 2012 Union Budget Bill.

Myanmar: West's energy firms await more reforms in Myanmar

Mar 28, http://uk.reuters.com/article/2012/03/28/uk-myanmar-oil-idUKBRE82R0PN20120328

Reuters - Western companies want more concrete political and economic reforms before they invest in Myanmar's oil and gas sector, giving Asian and Pacific rivals an edge in competing to access its untapped resources, company officials said on Wednesday.

Namibia: New Era - President wants urgent land solution

Mar 12, http://www.newera.com.na/articles/43492/President-wants-urgent-land-solution

President Hifikepunye Pohamba has expressed dissatisfaction with the slow pace of the country's land reform programme, saying more land must be acquired to resettle the landless masses. Calling the pace "agonising", Pohamba said his ruling Swapo Party must "do all that is possible" to ensure that the land question is put to bed swiftly. He made the remarks while officiating at the opening of the Swapo Central Committee meeting on Friday.

Netherlands: Opstelten moderniseert arbitrage

Mar 13, http://www.rijksoverheid.nl/documenten-en-publicaties/persberichten/2012/03/13/opstelten-moderniseert-arbitrage.html

On 13 March 2012 the bill for amendment of the arbitration regulation has gone into internet consultation. http://www.internetconsultatie.nl/herzieningarbitragerecht

Pakistan urgently needs $704 million credit line

Mar 19, http://www.thenews.com.pk/Todays-News-3-98495-Pakistan-urgently-needs-$704-million-credit-line

If the project is not completed on time by 2016, India would find itself in a better position to first complete the Kishan-Ganga hydropower project on the Neelum River in the held Kashmir. Under the Water Treaty, the country which completes the project first on Neelum river will have the first water priority rights. Pakistan is already in a legal battle at the International Court of Arbitration in Hague against India over faulty design of the Indian project.

Pakistan, Australia to review trade, investment pacts

Mar 21, http://www.thenews.com.pk/Todays-News-3-98703-Pakistan-Australia-to-review-trade-investment-pacts

Pakistan-Australia Joint Trade Committee (JTC) was established under the bilateral trade agreement of 1990 to oversee and foster ever stronger commercial and economic links between the two countries. The previous meetings of the JTC were held alternatively in Australia and Pakistan in 2006 and 2010. The third meeting of Pakistan-Australia JTC was held in Canberra on Tuesday.

Pakistan-US: Investment accord initialled before parliament review

Mar 28, http://www.dawn.com/2012/03/28/investment-accord-initialled-before-parliament-review.html

While legislators are engaged in a crucial debate for devising fresh terms of engagement with the United States in the joint session of parliament, the government gave approval to a controversial Bilateral Investment Treaty (BIT) with Washington a couple of weeks ago.

Pakistan: Acceptance of discriminatory conditions in BIT with US: BoI decision irks Commerce Ministry

Apr 4, http://www.brecorder.com/top-news/108-pakistan-top-news/51818-acceptance-of-discriminatory-conditions-in-bit-with-us-boi-decision-irks-commerce-ministry-.html

ISLAMABAD: Commerce Ministry is reportedly infuriated at Board of Investment (BoI) for accepting a couple of conditions in the Bilateral Investment Treaty (BIT) with the US, which are not only discriminatory but also Pakistan specific, sources close to Secretary BoI told Business Recorder here on Tuesday.

Pakistan: Barrick Gold Corporation: Reko Diq Arbitration

Mar 28, http://www.sec.gov/Archives/edgar/data/756894/000119312512137603/d320681dex991.htm

On February 15, 2011, TCCP (the local operating subsidiary of Tethyan Copper Company ("TCC")) submitted to the GOB an application for a mining lease in respect of the Reko Diq project in Pakistan. Barrick currently indirectly holds 50% of the shares of TCC, with Antofagasta Plc ("Antofagasta") indirectly holding the other 50%.

TCC believes that, under the Chagai Hills Joint Venture Agreement (the "CHEJVA") between TCC and the GOB, as well as under the 2002 Balochistan Mineral Rules, TCCP was legally entitled to the mining lease subject only to "routine" government requirements. On September 21, 2011, the GOB delivered a notice to TCC advising that it considered TCCP's application to be incomplete and unsatisfactory and giving TCC 30 days in which to respond. On October 19, 2011, TCCP delivered a response to the GOB's notice. In addition, TCCP delivered a notice of dispute in accordance with the arbitration agreement between TCC and the GOB. On November 15, 2011, the GOB notified TCCP of the rejection of TCCP's application for the mining lease. On November 28, 2011, TCCP filed an administrative appeal under the 2002 Balochistan Mineral Rules, calling on the GOB to perform its obligations. On the same day, TCC filed two requests for international arbitration: one against the Government of Pakistan with the International Centre for Settlement of Investment Disputes ("ICSID") asserting breaches of the Bilateral Investment Treaty between Australia (where TCC is incorporated) and Pakistan, and another against the GOB with the International Chamber of Commerce ("ICC"), asserting breaches of the CHEJVA. TCCP's administrative appeal under the 2002 Balochistan Mineral Rules was denied on March 3, 2012. Constitution of the ICC arbitration panel is in process. The GOB has filed jurisdictional objections in that proceeding. The ICSID has registered the arbitration request against Pakistan, but Pakistan has not yet taken any action in that proceeding.

Pakistani Constitutional Litigation

In November 2006, a Constitutional Petition was filed in the High Court of Balochistan by three Pakistani citizens against: Barrick, the governments of Balochistan and Pakistan, the Balochistan Development Authority ("BDA"), TCC, Antofagasta, Muslim Lakhani and BHP (Pakistan) Pvt Limited ("BHP").

The Petition alleged, among other things, that the entry by the BDA into the 1993 Joint Venture Agreement ("JVA") with BHP to facilitate the exploration of the Reko Diq area and the grant of related exploration licenses were illegal and that the subsequent transfer of the interests of BHP in the JVA and the licenses to TCC was also illegal and should therefore be set aside. In June 2007, the High Court of Balochistan dismissed the Petition against Barrick and the other respondents in its entirety. In August 2007, the petitioners filed a Civil Petition for Leave to Appeal in the Supreme Court of Pakistan. In late 2010, the Supreme Court of Pakistan began hearing this matter, together with several other related petitions filed against TCC or its related parties. The related petitions related to whether it is in the public interest for TCC to receive a mining lease. On May 25, 2011, the Supreme Court ruled, among other things, that the GOB should proceed to expeditiously decide TCCP's application for the grant of a mining lease, transparently and fairly in accordance with laws and applicable rules. The Supreme Court also ruled that the petitions before the Court would remain pending.

On November 15, 2011, the GOB notified TCCP of the rejection of TCCP's application for the mining lease. As noted above, on November 28, 2011, TCC filed the requests for international arbitration with ICSID and the ICC. Subsequently, the Supreme Court has resumed hearing various petitions relating to TCC and the Reko Diq project, including applications seeking to have the CHEJVA declared invalid and applications seeking an order staying the ICSID and ICC arbitrations. On February 7, 2012, the Supreme Court issued an order directing the GOB and Pakistan to request to the ICC and ICSID to refrain from taking further steps in respect of the arbitration proceedings and to extend the deadline for nomination of an arbitrator, pending disposition of the constitutional petitions by the Supreme Court. TCC continues to pursue its rights under international arbitration, and Barrick and TCCP continue to vigorously defend the above actions. No amounts have been accrued for any potential loss under these complaints.

Pakistan: Foreign Office voices concern: Board of Investment (BoI) sends draft BIT summary to PM

Mar 29, http://www.brecorder.com/top-news/1-front-top-news/51010-fo-voices-concern-boi-sends-draft-bit-summary-to-pm-.html

ISLAMABAD: The Board of Investment (BoI) has sent a summary to the Prime Minister, currently holding the additional portfolio of minister in-charge BoI, detailing the draft Bilateral Investment Treaty (BIT) initialled by the BoI Chairman in Washington on March 9, after the Foreign Office voiced serious reservations through a letter to BoI about not being taken on board.

Pakistan: Reko Diq case: hearing adjourned for 15 days

Mar 13, http://www.brecorder.com/top-stories/0/1164704/

After it received a notice from Supreme Court in Reko Diq case, Tethyan Copper Company Australia (TCCA) requested for the grant of time to file a reply in the case.

Papua New Guinea: Exxon halts work at PNG LNG site due to land dispute

Mar 16, http://uk.reuters.com/article/2012/03/16/exxon-png-lng-idUKL4E8EG5Y720120316

Work halted at part of Exxon's PNG LNG project; Disgruntled landowners threaten employees; Landowners requesting additional compensation for land; PNG LNG development still on schedule for 2014 startup.

Peru government vows to pay close attention to Doe Run Peru negotiation

Mar 27, http://www.peruthisweek.com/news-1833-Peru-government-vows-to-pay-close-attention-to-Doe-Run-Peru-negotiation/

"The issue of Doe Run is a very complicated issue. It is a company that has sued Peru before the ICSID [International Center for Settlement of Investment Disputes], and has a problem in court for crimes against humanity for the lives of 100 children and those are things we can not ignore, that has to be on the negotiating table, "he said.

Peru: Govt to state position on Conga before IACHR in March (subscription)

Mar 6, http://www.miningnewstoday.net/2012/03/govt-to-state-position-on-conga-before.html

The Peruvian government will state its position in a hearing at the Inter-American Commission on Human Rights (IACHR) in response to an injunction presented by NGOs over US-based Newmont Mining's (NYSE: NEM) Minas Conga gold-copper project in Cajamarca region. The hearing will take place during the last week of March, according to public prosecutor Luis Alberto Salgado.

Peru: La Oroya reopening stalls again on new Doe Run Peru demands

Apr 4, http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=148772&sn=Detail&pid=102055

Although angry miners are protesting because of continued delays in the reopening of the La Oroya metallurgical complex, negotiations between Doe Run Peru and the Peruvian Government drag on.

Peru: US Congressmen send letter criticizing Doe Run Peru

Mar 30, http://www.peruthisweek.com/news-1856-US-Congressmen-send-letter-criticizing-Doe-Run-Peru/

Eighteen congressional representatives from the U.S. sent a letter to Secretary of State Hillary Clinton and Secretary of the Treasury Timothy F. Geithner, to criticize the dealings of Doe Run in Peru.

According to El Comercio, the letter requested the U.S take action in solving the problem of lead contamination affecting the city of La Oroya, where Doe Run Peru operates.

Philippines: Court of Appeals orders Piatco to pay $172M to NAIA 3 contractors

Mar 19, http://www.abs-cbnnews.com/business/03/19/12/ca-orders-piatco-pay-172m-naia-3-contractors

The Court of Appeals (CA) has recognized the order of a London court directing the Philippine International Air Terminals Company, Inc. (Piatco) to pay the contractors of the Ninoy Aquino International Airport (NAIA) Terminal 3 project and ruled that Piatco should pay the contractors $172 million.

Philippines: Fraport case key to more German investments

Mar 20, http://www.abs-cbnnews.com/business/03/19/12/fraport-case-key-more-german-investments

The resolution of the issue between the German firm Fraport and the Ninoy Aquino International Airport Terminal 3 would pave the way for more direct investments from German companies in the country.

Philippines: Lopez solar wafer unit seeks arbitration vs Korean partner

Mar 23, http://www.abs-cbnnews.com/business/03/23/12/lopez-solar-wafer-unit-seeks-arbitration-vs-korean-partner

Lopez-led First PV Ventures Corp. has filed with the International Chamber of Commerce a request for arbitration of its dispute with Korean firm Nexolon Co. Ltd. in relation to their solar joint venture.

PGNiG to minimise gas purchases from Russia in 2012

Mar 20, http://www.reuters.com/article/2012/03/20/pgnig-gazprom-idUSL6E8EK2PY20120320

Reuters - Poland's gas monopoly PGNiG plans to reduce this year's purchases from Russia to a contracted minimum without incurring penalties, a PGNiG management board member said on Tuesday.

Romania Seeks Talks with Bulgaria on 'Disputed Territory'

Mar 21, http://www.oilandgaseurasia.com/news/p/0/news/14536

Romanian Foreign Minister Cristian Diaconescu has drawn attention to an alleged "disputed territory" on the Black Sea border between Bulgaria and Romania in an area that was recently found to be rich in oil and gas.

RUSAL chairman quits, says company faces deep crisis

Mar 13, http://www.stabroeknews.com/2012/news/stories/03/13/rusal-chairman-quits-says-company-faces-deep-crisis/

Reuters - Vekselberg's exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel, the world's top nickel and palladium miner. RUSAL owns the Aroaima, Guyana-based Bauxite Company of Guyana Inc which has had longstanding industrial relations problems with its union. Arbitration was recently ordered by Guyana's Minister of Labour into a series of matters.

Russian tycoon takes RUSAL spat to UK court

Apr 5, http://uk.news.yahoo.com/russian-tycoon-takes-rusal-spat-uk-court-180708009.html

Reuters - Russian billionaire Viktor Vekselberg's investment firm has launched legal action over a $47 billion (29 billion pounds) supply deal struck between aluminium giant UC RUSAL <0486.HK> and commodities trader Glencore , a source told Reuters on Thursday.

The initiation of arbitration proceedings in London escalates a shareholder feud between Vekselberg, who resigned as RUSAL chairman last month, and the company's chief executive and main owner, Oleg Deripaska.

Russia-India: Sistema asks govt to settle telecom dispute in 6 months

Mar 28, http://zeenews.india.com/business/news/companies/sistema-asks-govt-to-settle-telecom-dispute-in-6-months_44744.html

Invoking bilateral investment treaty, Russian conglomerate Sistema Tuesday said it has asked the Indian government to resolve within six months the dispute related to the cancellation of 21 telecom licenses of its local joint venture.

Russia: Foreign arbitrators hardly to attract foreign investors - experts

Apr 3, http://rapsinews.com/judicial_news/20120403/262660529.html

RAPSI - Experts doubt that the establishment of commercial arbitration tribunals employing foreign lawyers will increase Russia's investment attractiveness, although such a step may be an efficient PR effort.

Russia: Neocorp Inc hits Tele2 Russia with $93 mln action

Mar 11, http://rapsinews.com/judicial_news/20120311/261862521.html

RAPSI - The Moscow Commercial Court has registered a lawsuit by Neocorp Inc, owning telecommunication assets in the CIS, to recover $92.8 million from Tele2 Russia. The court did not specify the subject in dispute. The lawsuit was filed on March 6, its hearing date has yet to be determined. The business media reported in March 2011 that Neocorp Inc filed a lawsuit against Tele2 to the Stockholm Arbitration Tribunal.

Russia: Stena RoRo $41mn action against shipbuilder to be handled on May 14

Apr 2, http://rapsinews.com/judicial_news/20120402/262646443.html

RAPSI - The St. Petersburg and Leningrad Region Commercial Court will hear on May 14 a request by Sweden's Stena RoRo AB to include a $41 million debt due from Baltiysky Zavod shipyard in its schedule of accounts payable.

Singapore Law Ministry Publishes Proposed Amendments To The International Arbitration Act

8 March 2012, http://app2.mlaw.gov.sg/News/tabid/204/Default.aspx?ItemId=634

Proposed amendments to the International Arbitration Act and the new Foreign Limitation Periods Act

A. Introduction

1. As part of continuing efforts to maintain a world-class legislative framework for arbitration, the Ministry of Law (MinLaw) conducted a public consultation on a draft International Arbitration (Amendment) Bill (IA(A) Bill) in October 2011.

2. The draft Bill proposed amendments to the International Arbitration Act (IAA)[1] that were aimed at enhancing Singapore's status as an arbitration hub by expanding the scope of arbitral tribunals' jurisdiction and powers.

3. In conjunction with this, MinLaw also conducted a public consultation on a draft Foreign Limitation Periods Bill (FLP Bill), for the enactment of a Foreign Limitation Periods Act (FLPA) to clarify the applicable rules of limitation for both arbitral and court proceedings

4. MinLaw received feedback on various aspects of the amendments from industry stakeholders, including arbitrators, practitioners in both local and offshore law firms, academics and the Singapore International Arbitration Centre (SIAC). The feedback received was mostly in favour of the amendments put forward in both Bills.

5. The provisions in the final versions of the Bills have been fine-tuned, taking into consideration the views and comments received. More details of the feedback received and incorporated in the Bill can be found at Annex A.

B. International Arbitration (Amendment) Bill 2012

6. The IA(A) Bill makes amendments to the IAA to:

(a) Relax the current requirement that arbitration agreements be in writing (the writing requirement);

(b) Allow Singapore courts to review rulings by arbitral tribunals that these tribunals do not have jurisdiction to hear the dispute (negative jurisdictional rulings);

(c) Clarify the scope of arbitral tribunals' powers to award interest in arbitral proceedings; and

(d) Provide legislative support for the appointment of "emergency arbitrators" before the arbitral tribunal hearing the dispute is properly constituted.

7. Following feedback during the public consultation, the IA(A) Bill has also been refined to make consequential and related amendments to the Arbitration Act (AA) (which applies to domestic arbitrations) to mirror the amendments to the IAA, where applicable.

(i) Relaxation of the Writing Requirement

8. The IAA currently only recognises arbitration agreements that are made in writing. MinLaw received feedback that this requirement does not accord squarely with commercial reality, as arbitration agreements are often concluded orally, and put into writing later.

9. Clauses 2(b) and 3 of the IA(A) Bill amend the definition of an "arbitration agreement" in the IAA, and will extend the IAA's application to arbitration agreements concluded by any means (orally, by conduct or otherwise), as long as their content is recorded in any form. For instance, an arbitration agreement made orally, but subsequently documented through an audio recording, will now fall within the scope of the IAA. This amendment adopts one of the two options proposed by UNCITRAL in the revisions to its Model Law in 2006.

(ii) Review of Negative Jurisdictional Rulings 10. The IAA currently does not permit a Singapore court to review negative jurisdictional rulings made by arbitral tribunals (that is, rulings by the tribunals that it has no jurisdiction to hear the dispute). In contrast, however, our courts are able to review positive jurisdictional rulings made by arbitral tribunals (that is, rulings by tribunals that they have jurisdiction to hear the dispute).

11. This inconsistent treatment of negative and positive jurisdictional rulings has been criticised by practitioners and academics, who argue that inequity is just as likely to arise from a negative jurisdictional ruling that is erroneously made, as from an erroneous positive jurisdictional ruling.

12. Clause 4 of the IA(A) Bill seeks to rectify this inconsistency by amending the IAA to allow parties to have recourse to Singapore courts in respect of both positive and negative jurisdictional rulings, at any stage of the arbitral proceedings. Further refinements to Clause 4 have also been made following the public consultation, to clarify that the court can make costs orders against any party when ruling that an arbitral tribunal has no jurisdiction.

(iii) Arbitral Tribunals' Powers to Award Interest

13. Singapore's IAA currently does not clearly define the scope of arbitral tribunals' powers to award interest.

14. Clauses 5 and 9 of the IA(A) Bill amend sections 12(5) and 20 of the IAA, to clarify the scope of these powers. In particular, the amendments will expressly prescribe that an arbitral tribunal has the power to grant simple or compound interest on: (a) monies claimed in arbitrations, and (b) orders for one party to pay the other party's legal costs.

(iv) Legislative Support for the "Emergency Arbitrator" Procedure

15. At times, parties to a dispute may require urgent relief, even before the arbitral tribunal over the dispute is constituted. To address this issue, the SIAC recently introduced an "emergency arbitrator" procedure that provides for the appointment of an interim arbitrator pending the constitution of the actual tribunal.

16. Clauses 2(a) and 10 of the IA(A) Bill amend the definitions of an "arbitral tribunal" and an "arbitral award" to clarify the status of orders made by such "emergency arbitrators". The amendments accord emergency arbitrators with the same legal status and powers as that of any other arbitral tribunal and ensure that orders made by such emergency arbitrators (whether appointed under the SIAC rules or the rules of any other arbitral institution, in both foreign and local arbitrations) are enforceable under our IAA regime.

(v) Consequential and Related Amendments to the AA

17. Clause 11 of the IA(A) Bill makes consequential and related amendments to the AA to mirror the amendments to the IAA, where applicable. The AA (which applies to domestic arbitrations) has traditionally followed the amendments in the IAA, and feedback was received in the consultation that most of the proposed amendments to the IAA would also benefit domestic arbitrations under the AA.

C. Foreign Limitation Periods Bill 2012

18. The FLP Bill enacts a new FLPA, to clarify the issue of which country's limitation laws apply to disputes that are litigated in Singapore (either in court or through arbitration), but which are governed by the law of another jurisdiction.

19. This may occur, for instance, in a contractual dispute where parties decide to litigate in Singapore, but have chosen to have their contract governed by the law of another jurisdiction. In such cases, the question arises whether the applicable limitation law should be that of: (a) the foreign law governing the dispute, or (b) the law of the forum (that is, Singapore).

20. The provisions of the new FLPA make it clear that the applicable limitation period will be the rules of the law that govern the dispute. This will not only apply to arbitrations, but also to disputes litigated in court.

D. Conclusion

21. The amendments to the IAA in the IA(A) Bill will make our arbitration legislative framework even more arbitration-friendly. Coupled with the new FLPA, which will clarify the application of limitation laws in the context of Private International Law for all proceedings, including arbitration proceedings, the amendments in both Bills will ensure that Singapore remains an attractive venue for international arbitrations.

22. MinLaw would like to thank all respondents who have provided invaluable feedback during the public consultation.

[1] The IAA provides the framework of rules that governs the conduct of international arbitrations in Singapore. A 2010 Queen Mary University study concluded that Singapore was Asia's top arbitration destination.

Singapore: Changes proposed to ensure S'pore remains attractive for int'l arbitrations

Mar 8, http://www.channelnewsasia.com/stories/singaporelocalnews/view/1187727/1/.html

The law ministry has proposed changes to ensure that Singapore remains an attractive venue and maintains a first-class framework for international arbitrations, following positive feedback from industry stakeholders.

One set of changes relates to the International Arbitration Act (IAA); another revolves around a Foreign Limitation Periods Act (FLPA).

The Ministry of Law (MinLaw) put forward the proposed changes during the first reading of the Bills in Parliament on Thursday.

Singapore: Rising caseload for maritime arbitration

Mar 21, http://www.businesstimes.com.sg/sub/shippingtimes/story/0,4574,482825,00.html

The caseload for Singapore maritime arbitrators has steadily climbed. Between 2009 and 2011, more than 100 maritime related cases were heard by the Singapore Chamber of Maritime Arbitration (SCMA) and the Singapore International Arbitration Centre (SIAC).

Spain: El Gobierno aprueba la ley para la resolución voluntaria de conflictos

Mar 2, http://www.mjusticia.gob.es/cs/Satellite/es/1215197775106/Medios/1288776396194/Detalle.html

El Consejo de Ministros ha aprobado en su sesión de hoy el Real Decreto-Ley de Mediación Civil y Mercantil, poniendo así a disposición de los ciudadanos un mecanismo de resolución de conflictos voluntario, ágil, flexible y económico.

La mediación es una forma voluntaria de resolución de controversias entre dos partes con la ayuda de una tercera persona, cualificada, imparcial y neutral que les guía en la consecución de un acuerdo por sí mismas. El mediador, por lo tanto, a diferencia de lo que sucede en el arbitraje, no tiene capacidad de decisión en la resolución del conflicto, ya que esta corresponde por entero a las partes.

Swaziland: Govt Launches Probe Into Fixed Phone Saga

Mar 26, http://www.observer.org.sz/index.php?news=36967

CABINET convened a special meeting on Saturday to discuss the latest developments in the MTN and Swaziland Posts and Telecommunications Corporation (SPTC) war where it was resolved that a full-blown probe be instituted into the matter.

Swaziland: Govt: SPTC will not collapse

Mar 26, http://www.times.co.sz/News/73960.html

Government has assured the nation that the Swaziland Post and Telecommunication Corporation (SPTC) will not collapse following the arbitration ruling in their matter with Swazi MTN.

Swaziland: MTN makes offer to SPTC

Apr 5, http://www.observer.org.sz/index.php?news=37376

MTN has tabled a proposal to SPTC that it should be given the international gateway as a condition to allow the latter to continue with its mobile network operations.

Swaziland: MTN Swaziland damages claim to be heard in August

Mar 29, http://www.telecompaper.com/news/mtn-swaziland-damages-claim-to-be-heard-in-august

MTN said the International Court of Arbitration approved a draft award which will be transmitted to the International Chamber of Commerce for formal confirmation. It said dates have been agreed for a second hearing in August to determine MTN's claim for damages arising from SPTC's now admitted breach of their joint venture sgreement.

Swaziland: SPTC loses its battle for mobile

Mar 24, http://www.times.co.sz/News/73902.html

EZULWINI - The Swaziland Posts and Telecommunications Corporation (SPTC) has lost its protracted battle with Swazi MTN over the fight for the rolling out of its mobile products.

This is the ruling of the International Court of Arbitration, at the end of a drama-filled four-month process that culminated in the withdrawal of services by reputable lawyer, Mabandla Manzini yesterday morning. Unconfirmed reports were also that two advocates had also withdrawn their services from SPTC in this period.

Swaziland: SPTC offered to withdraw ONE, Fixedfone

Mar 22, http://www.times.co.sz/News/73843.html

This was in a bid to end the bitter dispute with Swazi MTN, which was set to be heard by the International Court of Arbitration in Geneva, Switzerland which was due to begin last night.

Swaziland: Winnie fires SPTC board chairman

Mar 27, http://www.times.co.sz/News/74001.html

MBABANE - As the rigmarole between telecommunications companies SPTC and Swazi MTN continues, Information, Communications and Technology (ICT), Minister Senator Winnie Magagula, yesterday fired SPTC Board Chairperson Nelisiwe Mabuza.

Taiwan reasserts sovereignty over Spratlys amid Philippines oil plans

Mar 13, http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type=aALL&ID=201203130015

The Ministry of Foreign Affairs on Tuesday reasserted Taiwan's sovereignty over the Spratly Islands, just days after the Philippines expressed the intention to invite investors to co-explore oil and gas in waters off the disputed archipelago.

Turkey to sue Iran over natural gas price

Mar 15, http://www.news.az/articles/turkey/56625

Turkey will not wait to open an arbitration case against Iran over a natural gas price dispute following an end to negotiations, Turkey's energy minister has said.

Turkey will not Refute Action in Arbitration against Iran

Mar 29, http://www.turkishweekly.net/news/133095/turkey-will-not-refute-action-in-arbitration-against-iran.html

Turkey has filed a lawsuit at the International Court of Arbitration against Iran to dispute the gas price and it is not going to change its decision, Anadolu Agency quotes Turkish Energy and Natural Resources Minister Taner Yildiz as saying on Thursday.

Turkish-Iranian gas conundrum: high time for statesmanship

Mar 18, http://www.todayszaman.com/news-274598-turkish-iranian-gas-conundrum-high-time-for-statesmanship.html

A dispute currently brewing over Iranian natural gas flowing to Turkey that is "too expensive" can only be overcome with mutual understanding, unless Iran desires a new impasse in its sanction-stricken foreign trade and energy-poor Turkey can afford to cut down on its supply channels, observers argue.

U.S. court orders Tymoshenko to report on notifying defendants in RosUkrEnergo case

Apr 3, http://rapsinews.com/judicial_news/20120403/262671150.html

RAPSI - The U.S. District Court for the Southern District of New York has ordered the lawyers of former Ukraine Prime Minister Yulia Tymoshenko, who filed a lawsuit against RosUkrEnergo and its owner Dmitry Firtash, to report on the notification of the defendants by April 20.

U.S.- Korea Free Trade Agreement Takes Effect

Mar 15, http://www.state.gov/secretary/rm/2012/03/185844.htm

Today, the U.S.-Korea Free Trade Agreement (KORUS) enters into force, marking an historic milestone that will lead to even more trade and investment between our two countries. KORUS will provide new market access opportunities in Korea's dynamic trillion dollar economy for U.S. exporters, creating jobs here at home while increasing opportunities for Korean companies in the United States. This agreement is another example of this Administration's commitment to deepening our economic engagement throughout the world.

Not only will the agreement provide a significant economic boost to both of our economies, it will strengthen the U.S. partnership with a key ally in a strategically important region. This is a powerful signal of America's commitment to the Asia Pacific and to securing and sustaining our role as a regional leader and Pacific power. I want to thank President Lee for his leadership on this issue and look forward to both countries fully realizing the promise of this landmark agreement.

Full text: http://www.ustr.gov/trade-agreements/free-trade-agreements/korus-fta/final-text

Uruguay: Philip Morris sues Uruguay cigarette-labeling claiming violation of investment treaty

Mar 19, http://en.mercopress.com/2012/03/19/philip-morris-sues-uruguay-cigarette-labeling-claiming-violation-of-investment-treaty

Measures taken by Uruguay to deter smokers have drawn a legal challenge by one of the world's largest tobacco companies under a treaty designed to protect foreign investors, according to the Centre for Trade and Sustainable Development.

US, China Experts Warn of Growing Bilateral Distrust

Apr 3, http://blogs.voanews.com/breaking-news/2012/04/03/us-china-experts-warn-of-growing-bilateral-distrust-2/

Two prominent scholars are warning that long-term "strategic" distrust between the United States and China is becoming more serious in spite of rapidly expanding contacts between the two countries. The warning comes in a report this week from Kenneth Lieberthal, the national security director for Asia under former president Bill Clinton, and Wang Jisi, dean of international studies at Beijing University and a member of the Foreign Policy Advisory Committee at China's foreign ministry.

US, EU and Japan challenge China on rare earths at WTO

Mar 13, http://www.bbc.co.uk/news/business-17348648

The US, Japan and the European Union have filed a case against China at the World Trade Organization, challenging its restrictions on rare earth exports.

US: Cubic Energy, Inc. Receives Arbitration Ruling and Award

Mar 21, http://money.msn.com/business-news/article.aspx?feed=PZ&Date=20120321&ID=14913726&industry=IND_ENERGY&isub=

Cubic Energy, Inc. announces that it received a ruling and award favorable to the Company with respect to the dispute with EXCO Operating Company, LP and BG US Production Company LLC as to drilling credits pertaining to the Company's Northwest Louisiana acreage. This ruling is subject to confirmation by the Dallas County District Court where it is anticipated that it will be challenged by EXCO and BG. This arbitration and award are subject to a Confidentiality Order.

US: Global Water prevails in AAA arbitration interim award

Mar 28, http://news.morningstar.com/all/canada-news-wire/20120328C8797/global-water-prevails-in-aaa-arbitration-interim-award.aspx

CNW - GWR Global Water Resources Corp. and Global Water Resources, Inc. today announced that Global Water has received a favorable interim arbitration award arising out of a pending contractual dispute with two land developers. The Company prevailed in the AAA arbitration and is entitled to receive in excess of $6 million of proceeds including over $2 million of interest and recovered legal fees.

US: ISTA Pharmaceuticals Announces Settlement on Royalty Dispute Settlement Results in Revised Royalty Agreement for BROMDAY(TM), XIBROM(TM) and PROLENSA(TM)

Mar 26, http://phx.corporate-ir.net/phoenix.zhtml?c=121179&p=RssLanding&cat=news&id=1676716

ISTA Pharmaceuticals, Inc. (NASDAQ: ISTA) today announced it has settled all issues with Senju Pharmaceutical Co., Ltd. that had been in arbitration before the International Chamber of Commerce (ICC) and has come to an agreement with Senju on disputed royalty payments for XIBROM(TM) and BROMDAY(TM) (bromfenac ophthalmic solution) 0.09% eye drops, approved for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extractions. The settlement establishes separate royalty rates for BROMDAY and ISTA's potential new proprietary product, PROLENSA(TM), also for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extractions, maintaining the existing rate for PROLENSA. The dispute concerned the amount of royalties owed after the patent covering XIBROM and BROMDAY expired in 2009. ISTA and Senju will continue their relationship under the terms of an exclusive license agreement covering the products through expiration of the last licensed patent, currently anticipated to be September 2025.

A similar dispute on a significantly smaller royalty rate with AcSentient, Inc. continues in arbitration with the ICC.

US: JPMorgan paid $373 million arbitration award

Mar 22, http://finance.fortune.cnn.com/2012/03/22/jpmorgan-paid-373-million-arbitration-award/?section=money_topstories

FORTUNE - A unit of JPMorgan Chase and Co. quietly paid a whopping $373 million arbitration award to the Kansas City-based American Century Investment family of funds last August -- thought to be the largest legal award in Missouri history -- to settle a dispute that flared into litigation in 2009, but had been kept confidential until last night. The dispute focused on a unit led at the time by J.E. ("Jes") Staley, who is now CEO of JPM's investment banking division.

US: Macquarie Infrastructure Company Announces Result of Arbitration - MIC to Receive $110.6 Million Dividend

Apr 1, http://investor.shareholder.com/mic/releasedetail.cfm?ReleaseID=660977

BUSINESS WIRE - Macquarie Infrastructure Company (NYSE: MIC) announced that the arbitration panel has directed International-Matex Tank Terminals ("IMTT") to pay a dividend in the amount of $221,157,000 ($110,578,500 to each of MIC and its co-investor) as the total dividend through December 31, 2011. The decision is the culmination of an arbitration proceeding MIC initiated in April, 2011 involving the Company and its co-investor in its bulk liquid storage terminal business.

MIC expects to increase its quarterly cash dividend upon IMTT's compliance with the order. MIC has previously stated that the dividend would be increased from the current $0.20 per share, per quarter, to at least $0.375 per share, per quarter.

The amount and timing of the dividend increase remains subject to the approval of the MIC board. MIC expects to provide further information on its dividend level and dividend policy when it releases its financial results for the first quarter of 2012 on May 2, 2012.

US: Mahindra & Mahindra: Panel Rejects Global Vehicles USA Claims

Mar 9, http://www.foxbusiness.com/news/2012/03/09/mahindra-mahindra-panel-rejects-global-vehicles-usa-claims/

Dow Jones - Mahindra & Mahindra Ltd. said Friday an international arbitration panel has rejected the claims of automotive dealer Global Vehicles U.S.A. Inc., which had accused the Indian auto maker of violating a distribution agreement for selling vehicles in the United States.

US: Marathon agrees to cap flared gas volumes: EPA

Apr 5, http://www.reuters.com/article/2012/04/05/us-usa-marathon-epa-idUSBRE83413C20120405

Reuters - Marathon Petroleum Co has agreed to cap the flaring of excess natural gas and implement efficiency controls on combustion devices to settle an emissions dispute with the Obama administration.

US: Oil industry seeks litigation reform in Oklahoma

Apr 6, http://newsok.com/oil-industry-seeks-litigation-reform-in-oklahoma/article/3663888

Oklahoma lawmakers are considering legislation meant to clear up conflicting case law regarding the responsibilities of oil and gas companies to property owners and other parties due interest payments.

US: PAMPA ENERGIA S.A. arbitration update

Mar 27, http://www.sec.gov/Archives/edgar/data/1469395/000129281412000699/pamfs2011_6k.htm

...

Related to the mentioned execution of guarantees, on December 1, 2011, the International Chamber of Commerce Secretary notified CTLLL that an arbitration request was filed by the UTE, pursuant to which they claimed:

a. The delivery of the formal Provisional Acceptance under the Construction Agreement;

b. The refund of the sums received by CTLLL for the foreclosure of UTE's guarantees;

c. The payment of damages not yet assessed as consequence of non-fulfillment of items a. and b. above.

In relation therewith, on December 29, 2011, CTLLL submitted its counterclaim against the contractor in which CTLLL seeks for the integral reimbursement of the damages caused as a consequence of several defaults and breaches carried out by the UTE. The damage payment claimed by CTLLL to the UTE has been preliminarily estimated in an amount greater than US$100 million, which has to be proved and quantified in the corresponding authorities.

CTLLL has made clear in its counterclaim that it does not intend an overlapping of compensation items, thus this will be reflected in the breakdown of damages to be produced in the corresponding instances. The amounts collected by CTLLL as a result of the execution of guarantees should be part of the arbitration ruling. Moreover, at the moment the Provisional Acceptance takes place in the terms agreed upon in the Construction Agreement dated on September 6, 2007 between CTLLL and the UTE, the US$18 million discount made by the UTE in the agreement subscribed between CTLLL and the UTE, dated on March 30, 2011, will also be made effective.

On January 18, 2012, CTLLL was notified of an extension in the arbitration process by Isolux Ingeniería S.A. and Tecna Proyectos y Operaciones S.A., with the intention of including a claim for damages regarding the execution of a guarantee issued by Commerzbank, to which CTLLL has responded during March 2012 and which will be finally resolved by the end of March.

Lastly, we inform that we are fulfilling with the information process and adjustments on the compensation amount to be collected as a result of the insurance that the company had hired to cover the works risks in relation to February 2011's damage, and before the contractors for the delays in the expansion's completion and commissioning and others, along with damages for certain defaults on obligations under the contract.

US: Timegate and SouthPeak's $7.3M arbitration for Section 8 overturned

Mar 29, http://www.gamasutra.com/view/news/167534/Timegate_and_SouthPeaks_73M_arbitration_for_Section_8_overturned.php

A federal court has overturned the arbitration ruling that awarded SouthPeak Interactive $7.3 million from Timegate Studios, following a legal dispute over the release of first-person shooter Section 8.

US: Wachovia Loses In Stifel Adviser-Raiding Case

Apr 3, http://www.euroinvestor.com/news/2012/04/03/wachovia-loses-in-stifel-adviser-raiding-case/11950794

Dow Jones - An arbitration panel turned back most of a raiding claim by Wachovia Securities LLC against Stifel Nicolaus & Co, awarding only $70,000 of the roughly $7.5 million Wachovia sought for losing more than half of its Tulsa, Okla. financial advisers to Stifel.

Venezuela to pay $420 million to Williams and Exterran

Mar 24, http://wtaq.com/news/articles/2012/mar/24/venezuela-to-pay-420-million-to-williams-and-exterran/

Reuters - Venezuela will pay Williams Cos Inc and Exterran $420 million for the 2009 nationalization of assets including a major gas injection project, the South American country's oil minister said on Friday.

Venezuela: Rusoro Mining - Expiration of Negotiation Period with Venezuelan Government for Nationalization

Mar 14, http://www.rusoro.com/s/News_Releases.asp?ReportID=512500

Vancouver, Canada - Rusoro Mining Ltd. reports the following:

The extended deadline of the period fixed by the Nationalization Decree No. 8413 to negotiate the compensation due to Rusoro and the terms of the migration of Rusoro's mining assets to a Mixed Enterprise to be controlled by the Venezuelan Government will expire as of the end of day today. At this time, the Company is not aware of any further extension.

The Nationalization Decree established an initial 90-day fixed negotiation period ending December 15, 2011, but was subsequently extended by decree No. 8683 for another 90 days, to March 14, 2012.

Therefore, in accordance with the procedures outlined in the Nationalization Decree, the Company believes that 100% of its Venezuelan mining concessions, related contracts and assets revert to the Venezuelan Government effective as of the end of today unless a further extension is granted.

To date, Rusoro is still in conversations with the Venezuelan Government but has not yet reached an agreement with respect to the compensation due to Rusoro pursuant to the nationalization of its gold-mining assets. The Company continues to seek an amicable resolution with the Venezuelan Government. However, Rusoro also continues to review its position, rights and claims under the bilateral investment treaty between Canada and Venezuela which provides that the Venezuelan Government must pay a fair, prompt and timely compensation as a result of the nationalization. In this regard, Rusoro will consider all steps necessary, including international arbitration, in order to protect its investments in Venezuela, and the interests of its stakeholders.

Background:

On September 16, 2011, the Venezuelan government, through publication in the Official Gazette of Venezuela, enacted a law-decree 8413 ("Nationalization Decree" or "Decree") which reserves to the State of Venezuela exclusive rights for the extraction of gold in Venezuela ("the Nationalization"). According to the Decree, all Venezuelan mining assets, including those of the Company, must be transferred to a new mixed-interest enterprise ("Mixed Enterprise"), of which private enterprises, such as the Company, cannot own more than 45%. The Decree stipulates that the Company had 90 days from September 16, 2011 to negotiate the terms and conditions of the forced migration of mining assets to the Mixed Enterprise, including the compensation to the Company for assets transferred to the Mixed Enterprise as a result of the Nationalization. If the Company is unable to agree upon the terms and conditions of the forced migration within the designated time period, 100% of the Company's mining concessions, related contracts and assets will revert to the Venezuelan government, provided that no extension is granted on the negotiation period.

Venezuela: Williams Completes Agreement with PDVSA to Receive Approximately $312 Million for Venezuela Assets

Mar 26, http://www.b2i.us/profiles/investor/ResLibraryView.asp?ResLibraryID=52719&GoTopage=1&Category=1799&BzID=630&G=343

Williams Completes Agreement with PDVSA to Receive Approximately $312 Million for Venezuela Assets

Williams Receives Approximately $147 Million Cash, Expects Additional Quarterly Cash Payments

Williams (NYSE:WMB) announced today that WilPro Energy Services (El Furrial) Limited and WilPro Energy Services (PIGAP II) Limited, the joint ventures owned by subsidiaries of Williams and Exterran Holdings, Inc. (NYSE: EXH), have completed the sale of the El Furrial and PIGAP II assets to PDVSA Gas, S.A. in connection with the 2009 nationalization of those assets.

After satisfying amounts owed to the WilPro joint ventures' lenders and taking into account other closing adjustments, Williams received an initial payment of approximately $84 million in cash at closing. Williams also received approximately $63 million from PDVSA related to a previous agreement to sell Williams' interest in Accroven SRL. Accroven includes two natural gas liquid (NGL) extraction plants, a NGL fractionation plant and associated storage and refrigeration facilities.

The remaining amount of approximately $165 million due to Williams is payable in periodic cash payments through the first quarter of 2016.

Prior to the nationalization of the El Furrial and PIGAP II assets in 2009, the WilPro joint ventures provided natural gas compression and injection services to an affiliate of Petroleos de Venezuela, S.A. (PDVSA). Williams has a 66 2/3-percent ownership interest in WilPro El Furrial and a 70-percent ownership interest in WilPro PIGAP II.

In connection with the sale of the El Furrial and PIGAP II assets, the WilPro joint ventures and an affiliate of Williams have agreed to suspend their previously filed arbitration proceeding against Venezuela pending payment in full by PDVSA Gas of the purchase price for the nationalized assets.

Volkswagen Says Suzuki's Claims Are Unfounded, Expects Court Decision Next Year

Mar 14, http://www.inautonews.com/volkswagen-says-suzukis-claims-are-unfounded-expects-court-decision-next-year

Last November, Suzuki asked the London arm of the Paris-based International Court of Arbitration of the International Chamber of Commerce to order Volkswagen to retransfer the equity stake and pay damages.

Wising up to the wise guys - Organised crime is using international arbitration to launder money. Can you spot the signs?

Mar 19, http://www.thelawyer.com/wising-up-to-the-wise-guys/1011854.article

International arbitration is booming, that much we know. But how about this - the process for settling cross-border disputes is being hijacked by criminal gangs looking to launder their illicit gains.

Zimbabwe: Implats' Zimbabwe compensation unlikely at market rate - Liberum

Mar 14, http://www.miningweekly.com/article/implats-zimbabwe-compensation-unlikely-at-market-rate-liberum-2012-03-14

South Africa's platinum major Implats, which has reached an enforced in-principle agreement on indigenising 51% of its Zimplats assets, is unlikely to be compensated by the Zimbabwean government at the market rate, mining analyst Liberum Capital Mining said on Wednesday.

Zimbabwe: Zimplats May Face Nationalization, Zimbabwe's Herald Says

Mar 21, http://mobile.bloomberg.com/news/2012-03-21/zimplats-may-face-nationalization-zimbabwe-s-herald-says?category=&BB_NAVI_DISABLE=PULSE

Zimbabwe Platinum Ltd. (ZIM), known as Zimplats, may face total nationalization if it doesn't meet the government's two-week deadline for agreement on the value of a stake in the company, the state-controlled Herald newspaper said in an editorial.

EVENTS

2024

April 2024

  • CIArb Virtual Diploma in International Maritime Arbitration (Booking deadline: 31 January 2024)
    With maritime arbitrations on the rise, build your knowledge now! The scale, diverse range and complexity of maritime arbitrations coupled with an increase in arbitral systems means that it is essential to have the right knowledge and skills to navigate this field. Ciarb’s highly popular Virtual Diploma in International Maritime Arbitration will provide you with this and more! Join international dispute resolution specialist George Lambrou FCIArb for this Diploma, delivered virtually from 3 April 2024 to 26 June 2024, on Wednesdays for two and a half hours.
    3 April 2024 - 26 June 2024. Online,
    More information is available at the organisers website

May 2024

  • Pakistan International Disputes Weekend (PIDW)
    South Asia's premiere legal conference for 'reviewing, reflecting and reviving' the landscape for dispute resolution. The conference is organized annually in Pakistan by international construction law firm MK Consultus. Bringing together international dispute resolution experts, government representatives, serving members of Pakistan's judiciary, Legal 500 firms, international ADR Centres and global masters of the trade in South Asia's emerging economic corridor, PIDW has revitalized the ADR sector in Pakistan, contributing significantly to the discourse regarding reform.
    11 May 2024 - 12 May 2024. Karachi, Pakistan,
    More information is available at the organisers website
  • 4th Edition Executive Course on International Arbitration - King's College London (Application deadline: 03 May 2024)
    [Application deadline: 03 May 2024] Join leading global arbitration experts for King’s College London’s Executive Course on International Arbitration, online, starting on 17 May 2024. Develop your skills and grow your network with this CPD accredited course. Learn the key elements of practice, from drafting effective arbitation agreements to enforcing arbitral awards around the globe.
    17 May 2024 - 21 June 2024. Online; Fridays (11:30 - 15:00 BST) over 6 weeks,
    More information is available at the organisers website
  • Dispute Resolution in M&A Transactions - 7th edition
    International Conference for Promoting Arbitration - The biggest M&A conference in the region, a truly unique event. Who should attend: * Arbitrators; * Attorneys; * In-house counsel; * M&A legal and business advisors. More information about the program and topics to be announced, in the meantime, visit the conference website to see the archives of the 6th (2022) and 5th (2019) editions of the conference.
    23 May 2024 - 24 May 2024. Warsaw, Poland,
    More information is available at the organisers website
  • International Arbitration Summer Institute - Center on International Commercial Arbitration (AU WCL)
    Taught by leading practitioners and arbitrators from around the world, the International Arbitration Summer Institute is an intense three-week certificate program that addresses foundational and practical aspects of international commercial arbitration. Networking activities such as special lectures, coffee hours, luncheons, and site visits to D.C. law firms and institutions provide participants with ample opportunities to network beyond the classroom setting. This Summer Institute is one of the annual events hosted by the Center on Int'l Commercial Arbitration. The Center is directed by Horacio A. Grigera Naón, a renowned independent international arbitrator and former secretary general of the Int'l Court of Arbitration of the Int'l Chamber of Commerce. The rest of the faculty of this Summer Institute is also very prominent. Participants may opt to stay in the American University dormitory at Cassell Hall.
    28 May 2024 - 13 June 2024. Washington, D.C.,
    More information is available at the organisers website

June 2024

  • Baltic Arbitration Days (13th edition)
    The Baltic Arbitration Days is an international forum for arbitration practitioners and academics, which takes place every June in Riga and Jurmala. During two days of lectures and social functions, we discuss current issues of international commercial and investment arbitration. While Central- and Eastern Europe remains the focus of the conference, different guest countries or regions are designated each year, hosting speakers and participants from around the world. Topics: * Investigations & Enforcement; * Investment Arbitration Update; * Climate & Energy & Construction Arbitration; * Legaltech & IT in Arbitration.
    2 June 2024 - 3 June 2024. Riga and Jurmala,
    More information is available at the organisers website
  • CanArbWeek 2024
    TOPICS: * ADRIC - Awards: Law and Practice; * SIAC - Demystifying the Scrutiny Process; * CPR Canada - In-House Counsel Wishlist: Dispute Boards; * CIArb Canada - Debate Series: Vavilov, Value, Venue; * Ciarb Canada Award for Distinguished Service; * ICC Canada - Navigating the Grey: Conflicts of Interest; * VanIAC - Ask us Anything: from Appointment to PO1; * WCCAS - Arbitrating Your Way to a Speedier Trial; * ICDR Canada - Debate on Proposed Rules Changes; * YCAP - Costs Report: DOs and DON’Ts in Cost Awards; * TCAS - Exploring the Psychology of Arbitration; * and more... Gala Welcome Reception (2 June 2024); Early Bird Tickets Until 1 May 2024.
    3 June 2024 - 4 June 2024. Toronto, Canada,
    More information is available at the organisers website
  • Critical Developments in International Arbitration - 5th edition of the Bucharest Arbitration Days
    The theme of the BArD 2024 brings to our attention the recurrent concern with the legitimacy of international arbitration, as a suitable dispute resolution mechanism for commercial disputes. The 2021 Queen Mary University of London and White & Case Survey has highlighted the evolving nature of international arbitration, adapting to the challenges posed, among others by diversity, technology, environmental considerations and information security. BArD 2024 will discuss ethics and conflicts in int'l arbitration; the evolving relationship between arbitration and courts; the diversity in arbitration from the perspective of diversity of seats and arbitration institutions; the ongoing discussion on evidence and the impact of technology on it. With a focus on disputes involving foreign investments, BArD 2024 will tackle the critical issue of the regulatory space of States, in particular in the context of the transition to a clean energy and int'l commitments on climate change.
    6 June 2024 - 7 June 2024. Bucharest, Romania; Virtual,
    More information is available at the organisers website
  • I Investment Forum
    This event aims to bring together key stakeholders (government officials, business leaders, legal professionals, and foreign investors) on a single platform to highlight significant legal aspects influencing business and investments in Ukraine. It includes an in-depth analysis of Ukraine's investment climate, dispelling common myths about conducting business in our country, preparing Ukrainian businesses for European Union integration, and focusing on recent legal improvements in sectors such as agriculture, extractive industries, energy, and defense. Identifying existing legal issues and presenting practical solutions is also a key focus.
    6 June 2024 - 7 June 2024. Kyiv, Ukraine; Online (Zoom),
    More information is available at the organisers website
  • Arbitration and State: A Complex Symbiosis - XVIII International Congres CEIA
    Topics: * Presentation of the Report on the Inclusion of Disability in Arbitration (CEIA - CINDA); * The work of UNCITRAL Group III; * State and anti-process measures in arbitration; * State responsability for the denial of recognition and execution of arbitration agreements and awards; * The State as a police against corruption in arbitration; * LATAM 360°: Administrative activity as the object of the arbitration disputes; * Arbitration as a mechanism for resolving conflicts between States; * The cases of the year: procedural situations when the State is a party. The conference will have Spanish-English simultaneous translation.
    9 June 2024 - 11 June 2024. Madrid, Spain,
    More information is available at the organisers website
  • Italian Arbitration Day: The Geography of International Arbitration
    The Italian Association for Arbitration and the Milan Chamber of Arbitration, with the support of several national and international organizations, join forces to organize the third Italian Arbitration Day ("IAD"). The IAD will explore the geography of arbitration, navigating the routes of international arbitration, exploring methods and characters of its actors. Stellar international practitioners will discuss the ever-changing map of international arbitration. Participants will be able to contribute ideas, experiences and anecdotes. PROGRAM: * KEYNOTE SPEECH: Lucio Caracciolo - Arbitration and Geopolitics: A Way to De-escalate International Crises? * Panel I - Quo Vadis International Arbitration? Of Parties, Arbitrators and Arbitral Institutions + Reverse Debate * A View from Our Partners: Unidroit * Panel II - International Conflicts and Economic Sanctions: What Role for International Arbitration? + Reverse Debate
    13 June 2024. Rome, Italy,
    More information is available at the organisers website
  • Arbitration Academy 2024
    Applications for the 2024 session of the International Academy for Arbitration Law will be opened soon. The Arbitration Academy is designed to provide advanced courses in arbitration law to students, government officials and practitioners who have already a general knowledge of arbitration law. The Academy provides advanced Summer Courses in Paris to students and young practitioners interested in international arbitration. The Curriculum is conceived by international arbitration academics and practitioners to cover all aspects of international arbitration, and the Courses are taught by the most renowned experts in the fields of international commercial arbitration and investment treaty arbitration. A great opportunity to attend high-level courses and seminars on International Arbitration, and to learn from world-renowned professors and practitioners - don't miss out!
    17 June 2024 - 4 July 2024. Paris, France,
    More information is available at the organisers website or contact
  • El arbitraje internacional en materia de construcción (AU WCL)
    El arbitraje comercial internacional constituye el mecanismo preferido para la solución de disputas en el mundo de los negocios. Un área en que el arbitraje internacional tiene frecuente aplicación es en disputas que emergen de proyectos de construcción. En América Latina el arbitraje de construcción también ha comenzado a ser muy relevante. Esta evolución ha generado una extensa demanda de profesionales altamente formados y especializados en esta materia. Por esto el Centro de Arbitraje Comercial Internacional de la AUWCL trabaja junto con la Comisión Interamericana de Arbitraje Comercial (CIAC) para ofrecer este Seminario Práctico en arbitraje de construcción en junio y julio de 2024. Este Seminario Práctico permite experimentar el desarrollo de un proceso arbitral en materia de construcción desde los inicios de la disputa y su tratamiento por la junta de resolución de disputas, pasando por la notificación de arbitraje, la práctica de la prueba, hasta la adopción del laudo. ...
    17 June 2024 - 12 July 2024. Washington, D.C.,
    More information is available at the organisers website
  • London Summer Arbitration School (Application deadline 20 April 2024)
    The London Summer Arbitration School will feature an interactive five-day programme introducing participants not only to commercial arbitration, but also to less well-known types of arbitration such as maritime, construction and commodities arbitration. The participants will also engage in discussion of related career and business development opportunities with practitioners and representatives of institutions. Topics: * ad hoc arbitration; * maritime arbitration; * construction arbitration; * commodities arbitration; * commercial arbitration; * ethics in international arbitration; * banking & finance arbitration; * climate change arbitration; * outer space arbitration; * investor-state arbitration; * relationship between arbitral tribunals and domestic courts. It will also be possible to attend the school in the online format. Registration deadline: 20 April 2024.
    17 June 2024 - 21 June 2024. Online; London, United Kingdom,
    More information is available at the organisers website

July 2024

  • Brunel Law School Summer Program on International Arbitration
    This Programme will cover "International Commercial Arbitration" (ICA) and "Investment Treaty Arbitration" (ITA) and will include esteemed arbitration scholars and practitioners such as Professor Kaj Hobér, Dr Kabir Duggal, Sir Bernard Rix, Dr Ylli Dautaj and others. ICA is essentially a private resolution forum between private parties (or States acting in a private capacity, jure gestionis), where the subject-matter of the dispute often stems from a "commercial" contract or undertaking of some sort. When studying ICA, we will largely focus on the process of arbitration and not on the subject matter. ITA, on the other hand, is a form of arbitration between foreign investors and host States regarding foreign direct investment (FDI). The subject-matter is arbitrated under public international law, more specifically international investment law. 10% early bird discount if booked by 30th April 2024.
    8 July 2024 - 13 July 2024. London, UK,
    More information is available at the organisers website
  • Brunel Law School Summer Program on International Arbitration
    This Programme will cover "Int'l Commercial Arbitration" (ICA) and "Investment Treaty Arbitration" (ITA) and will include esteemed arbitration scholars and practitioners such as Professor Kaj Hobér, Dr Kabir Duggal, Sir Bernard Rix, Dr Ylli Dautaj and others.ICA is essentially a private resolution forum between private parties (or States acting in a private capacity, jure gestionis), where the subject-matter of the dispute often stems from a "commercial" contract or undertaking of some sort. When studying ICA, we will largely focus on the process of arbitration and not on the subject matter. ITA, on the other hand, is a form of arbitration between foreign investors and host States regarding foreign direct investment (FDI). The subject-matter is arbitrated under public int'l law, more specifically international investment law. Int'l investment law is a sub-specie of int'l economic law. Upon conclusion of the Summer Programme, all participants shall receive a Certificate of Attendance.
    8 July 2024 - 13 July 2024. London, UK,
    More information is available at the organisers website

October 2024

  • International Law Weekend 2024 - Powerless law or law for the powerless? (Call for Panel Proposals deadline 15 April 2024)
    International law faces an existential threat as history unfolds at unprecedented speed worldwide. Indeed, international law and international institutions at times appear incapable of protecting vulnerable persons against war, disease, hunger, exploitation, climate change, and other human and natural catastrophes. Some people-both individually and collectively-are openly eschewing legal values and frameworks in order to pursue results through other means, including dangerous and destabilizing ones. Is international law, in fact, powerless or does it remain a source of power that vulnerable persons can utilize to protect and advance their rights and interests? This year's ILW is focused on engaged, interactive, and inclusive discussions about how international law can transcend perceptions and misperceptions of its powerlessness and fulfill its aspirations of balancing power through principles of justice, equality, and dignity. Call for Panel Proposals deadline 15 April 2024.
    24 October 2024 - 26 October 2024. New York City, USA,
    More information is available at the organisers website

Note: a list of prior events can be found here.

JOBS / MOVES

Kaj Hobér appointed Professor of International Investment and Trade Law at Uppsala University; unique interdisciplinary and jurisprudential research programme launched

Mar 28, http://www.mannheimerswartling.se/en/News/Latest-news/Kaj-Hober-appointed-Professor-of-International-Investment-and-Trade-Law-at-Uppsala-University-unique-interdisciplinary-and-jurisprudential-research-programme-launched/

Mannheimer Swartling partner and internationally acclaimed arbitration practitioner, Kaj Hobér, has been appointed Professor of International Investment and Trade Law at Uppsala University. His appointment is part of the launch of a unique interdisciplinary and jurisprudential research programme formed by Uppsala University's Department of Law and Department of Humanities and Social Sciences, and the Uppsala Centre for Russian Studies.

From the fall of 2013, this programme will be the first in Europe to offer a Master's Degree in Investment Treaty Arbitration. Kaj Hobér will focus on international disputes with an emphasis on investment arbitrations, but also including international commercial arbitration and WTO disputes. Other focus areas include legal issues relating to energy and natural resources particularly in relation to the former Soviet Union and Central and Eastern Europe.

T&K Bolsters International Oil and Gas Arbitration Expertise

Mar 19, http://www.tklaw.com/press_releases.cfm?action=view&id=747

The Firm ... is relocating its London office to 9 Gray's Inn Square effective April 1. Gray's Inn is one of the four English Inns of Court. "This move of our London-based operations further enhances our ability to serve existing clients and better positions Thompson & Knight for new business opportunities for international arbitration," says Derman.

CPR Institute Welcomes Four Prestigious New Board Members

Mar 13, http://cpradr.org/Resources/ALLCPRArticles/tabid/265/ID/748/CPR-Institute-Welcomes-Four-Prestigious-New-Board-Members-Press.aspx

The International Institute for Conflict Prevention & Resolution (CPR Institute), a nonprofit think-tank and alliance of global corporations, law firms, scholars, and public institutions dedicated to the principles of conflict prevention and alternative dispute resolution (ADR), announces four new additions to its elite Board of Directors.

The CPR Institute's newest Board members are:

- Carlos M. Hernandez - Chief Legal Officer at Fluor Corporation;
- Peter Rees- Legal Director at Shell;
- Thomas J. Sabatino, Jr.- Executive Vice President, General Counsel and Corporate Secretary at Walgreen Company; and
- Maura Abeln Smith- General Counsel at PepsiCo, Inc.

BOOKS

Treaty Interpretation in Investment Arbitration

J Romesh Weeramantry
OUP
ISBN13: 9780199641475

The rise of investment arbitration in the last decade has generated an unprecedented body of arbitral case law. The work of these arbitral tribunals has provided scholars and practitioners with public international law jurisprudence, including materials on treaty interpretation which has not yet been thoroughly analysed.

The New York Convention: A Commentary

Ed. Reinmar Wolff
ISBN13: 9781849461962
Publisher: Hart Publishing

Arbitration has become the dispute resolution mechanism of choice in cross-border contracts. International arbitration not only paves the way for the parties to avoid state courts, it also facilitates transnational enforceability of awards far beyond the enforceability of state court judgments. The major instrument to that effect is the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958 (the so-called New York Convention), for good reasons labelled as the Magna Charta of international arbitration.

ICSID

New: Apotex Holdings Inc. and Apotex Inc. v. United States of America (ICSID Case No. ARB(AF)/12/1)

Pharmaceutical goods, Registered March 16. Tribunal not yet consituted. See Apotex Inc v United States of America - NAFTA - Request for Arbitration - 29 February 2012 https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=7353

New: Grupo Francisco Hernando Contreras v. Republic of Equatorial Guinea (ICSID Case No. ARB(AF)/12/2)

Construction projects, Registered March 23, 2012. Pending. Background http://www.cincodias.com/articulo/empresas/hacienda-dicta-embargos-cautelares-202-millones-pocero/20110511cdscdiemp_3/

New: Muhammet ?ap & Sehil Insaat Endustri ve Ticaret Ltd. Sti. v. Turkmenistan (ICSID Case No. ARB/12/6)

Construction projects. Registered March 26. Pending.

Abengoa, S.A. y COFIDES, S.A. v. United Mexican States (ICSID Case No. ARB(AF)/09/2)

Status of Proceeding:
- Claimants files observations on the Respondent's response on March 13
- Tribunal issues Procedural Order No. 5 concerning production of documents on March 23

AES Summit Generation Limited and AES-Tisza Erömü Kft. v. Republic of Hungary (ICSID Case No. ARB/07/22)

Status of Proceeding: each party files a statement of costs on March 16

Agility for Public Warehousing Company K.S.C. v. Islamic Republic of Pakistan (ICSID Case No. ARB/11/8)

Status of Proceeding: Claimant files a counter-memorial on jurisdiction on March 26

Apotex Holdings Inc. and Apotex Inc. v. United States of America (ICSID Case No. ARB(AF)/12/1)

Status of Proceeding: J. William Rowley (Canadian) accepts his appointment as arbitrator on March 22

Burimi SRL and Eagle Games SH.A v. Republic of Albania (ICSID Case No. ARB/11/18)

Status of Proceeding: Respondent files a request for provisional measures on March 30

Cambodia Power Company v. Kingdom of Cambodia (ICSID Case No. ARB/09/18)

Status of Proceeding: Tribunal issues a decision on production of documents on March 15

Convial Callao S.A. and CCI - Compañía de Concesiones de Infraestructura S.A. v. Republic of Peru (ICSID Case No. ARB/10/2)

Status of Proceeding: Tribunal holds a hearing on jurisdiction and merits in Washington, DC on March 19 - 23

DP World Callao S.R.L., P&O Dover (Holding) Limited, and The Peninsular and Oriental Steam Navigation Company v. Republic of Peru (ICSID Case No. ARB/11/21)

Status of Proceeding: Committee holds a first session by telephone conference on March 29

El Paso Energy International Company v. Argentine Republic (ICSID Case No. ARB/03/15)

Annulment Proceeding Registered March 07. Ad hoc Committee not yet constituted.

Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines (ICSID Case No. ARB/11/12)

Status of Proceeding: Tribunal holds a first session in Washington, D.C on April 3

Gambrinus, Corp. v. Bolviarian Republic of Venezuela (ICSID Case No. ARB/11/31)

Status of Proceeding: following appointment by the Respondent, Pierre-Marie Dupuy (French) accepts his appointment as arbitrator on March 15

Giordano Alpi and others v. Argentine Republic (ICSID Case No. ARB/08/9)

Status of Proceeding: Tribunal decides on the admissibility of new evidence on March 12

Gold Reserve Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/09/1)

Status of Proceeding: each party files a post-hearing brief on March 16

H&H Enterprises Investments, Inc. v. Arab Republic of Egypt (ICSID Case No. ARB/09/15)

Status of Proceeding:
- Claimant files a rejoinder on jurisdiction on March 15
- Tribunal holds a hearing on jurisdiction in Washington, D.C on March 23 - 24

Highbury International AVV and Ramstein Trading Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/1)

Status of Proceeding: - Claimant files a counter-memorial on jurisdiction and reply on the merits on March 26

Içkale Insaat Limited Sirketi v. Turkmenistan (ICSID Case No. ARB/10/24)

Status of Proceeding: Claimant files a memorial on the merits on March 1

Impregilo S.p.A. v. Argentine Republic (ICSID Case No. ARB/07/17)

Status of Proceeding: Committee holds a first session by telephone conference on March 28

KT Asia Investment Group B.V. v. Republic of Kazakhstan (ICSID Case No. ARB/09/8)

Status of Proceeding: Respondent files a submission on costs on March 16

Libananco Holdings Co. Limited v. Republic of Turkey (ICSID Case No. ARB/06/8)

Status of Proceeding:
- Claimant files a request for provisional measures on March 14
- Turkey files observations on Libananco Holdings Co. Limited's request to continue the stay of enforcement of the award and on its request for provisional measure on March 23
- Libananco files reply on observations of the Republic of Turkey of March 23, 2012 on March 29

Marion Unglaube v. Republic of Costa Rica (ICSID Case No. ARB/08/1)

Status of Proceeding: Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1) on April 3

Metal-Tech Ltd. v. Republic of Uzbekistan (ICSID Case No. ARB/10/3)

Status of Proceeding:
- Tribunal issues Procedural Order No. 8 concerning production of documents on March 13
- Tribunal issues Procedural Order No. 9 concerning confidentiality on April 2

Millicom International Operations B.V. and Sentel GSM S.A. v. Republic of Senegal (ICSID Case No. ARB/08/20)

Status of Proceeding: each party files a submission on costs on March 16

OI European Group B.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/25)

Tribunal Constituted: March 30. Composition: Juan FERNÁNDEZ-ARMESTO (Spanish) Francisco ORREGO VICUÑA (Chilean) Alexis MOURRE (French)

Reinhard Hans Unglaube v. Republic of Costa Rica (ICSID Case No. ARB/09/20)

Status of Proceeding: Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1) on April 3

RSM Production Corporation v. Central African Republic (ICSID Case No. ARB/07/2)

Status of Proceeding:
- Ad hoc Committee Reconstituted March 05. Abdulqawi Ahmed YUSUF (Somali) appointed following the resignation of Nayla COMAIR-OBEID (Lebanese)
- Ad hoc Committee issues a decision on termination of the stay of enforcement of the award on March 29
- RSM Production Corporation files a memorial on annulment on March 30

Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16)

Status of Proceeding: Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference on March 20

Teinver S.A., Transportes de Cercanías S.A. and Autobuses Urbanos del Sur S.A. v. Argentine Republic (ICSID Case No. ARB/09/1)

Status of Proceeding: Claimants file two requests for provisional measures on March 26

Toto Costruzioni Generali S.p.A. v. Republic of Lebanon (ICSID Case No. ARB/07/12)

Tribunal Reconstituted: March 16, Hans VAN HOUTTE (Belgian) Stephen M. SCHWEBEL (U.S.) Fadi MOGHAIZEL (Lebanese)

Tulip Real Estate Investment and Development Netherlands B.V. v. Republic of Turkey (ICSID Case No. ARB/11/28)

Tribunal Constituted: March 28. G. GRIFFITH (Australian), M.E. JAFFE (U.S.), R. KNIEPER (German)

Universal Compression International Holdings, S.L.U. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/9)

Status of Proceeding: Claimant files a reply on the merits on March 12

Urbaser S.A. and Consorcio de Aguas Bilbao Biskaia, Bilbao Biskaia Ur Partzuergoa v. Argentine Republic (ICSID Case No. ARB/07/26)

Status of Proceeding: each party files answers to the questions posed by the Tribunal on March 20