Investor-State Dispute Settlement Cases
The following is a list of investor-state dispute settlement cases. This information was compiled by the Energy Charter Secretariat and is updated regularly.
Please note that there is no requirement that such disputes be notified to the Secretariat, nor is the Secretariat involved in the administration of the investor-state dispute settlement procedure. The information below was compiled from various public sources, and includes links to publicly available documents; while the Secretariat has made efforts to ensure that this information is reliable, its accuracy and completeness cannot be guaranteed.
- AES Summit Generation Ltd. (UK subsidiary of US-based AES Corporation) v. Hungary
- Nykomb Synergetics Technology Holding AB (Sweden) v. Latvia
- Plama Consortium Ltd. (Cyprus) v. Bulgaria
- Petrobart Ltd. (Gibraltar) v. Kyrgyzstan
- Alstom Power Italia SpA, Alstom SpA (Italy) v. Mongolia
- Yukos Universal Ltd. (UK – Isle of Man) v. Russian Federation
- Hulley Enterprises Ltd. (Cyprus) v. Russian Federation
- Veteran Petroleum Trust (Cyprus) v. Russian Federation
- Ioannis Kardassopoulos (Greece) v. Georgia
- Amto (Latvia) v. Ukraine
- Hrvatska Elektropriveda d.d. (HEP) (Croatia) v. Republic of Slovenia
- Libananco Holdings Co. Limited (Cyprus) v. Republic of Turkey
- Azpetrol International Holdings B.V., Azpetrol Group B.V. and Azpetrol Oil Services Group B.V. (the Netherlands) v. Azerbaijan
- Barmek Holding A.S. v. Azerbaijan
- Cementownia "Nowa Huta" S.A. (Poland) v. Republic of Turkey
- Europe Cement Investment and Trade S.A. (Poland) v. Republic of Turkey
- Liman Caspian Oil B.V. (the Netherlands) and NCL Dutch Investment B.V. (the Netherlands) v. Republic of Kazakhstan
- Electrabel S.A. v. Republic of Hungary
- AES Summit Generation Limited and AES-Tisza Erőmű Kft. v. Republic of Hungary
- Mercuria Energy Group Ltd. v. Republic of Poland
- Alapli Elektrik B.V. v. Republic of Turkey
- Vattenfall AB, Vattenfall Europe AG, Vattenfall Europe Generation AG & Co. KG v. Federal Republic of Germany
- EDF International S.A. v. Republic of Hungary
- EVN AG v. The Former Yugoslav Republic of Macedonia
1. AES Summit Generation Ltd. (UK subsidiary of US-based AES Corporation) v. Hungary
Counsel: Allen & Overy (S. Jagusch & J. Gill) v. information not publicly available
Case registered: 25.04.2001
Forum & reference: ICSID Case n°. ARB/01/4
Arbitrators: Allan Philip (chair); Francisco Orrego Vicuña; Prosper Weil
Subject matter: Electricity sale agreement
Status of proceeding: Settlement agreed by the parties and proceeding discontinued at their request (3 January 2002)
Claim: Information not publicly available
Award: N/A
2. Nykomb Synergetics Technology Holding AB (Sweden) v. Latvia
Counsel: Hellström & Partners Adv. (J. Wetterfors & P. Winnberg) v. Setterwalls Adv. (F. Wennerholm & P. Törnquist) Grunte & Cers, Riga (G. Cers)
Case registered: 11.12.2001
Forum & reference: Arbitration Institute of the SCC - Case n.° 118/2001
Arbitrators: Bjørn Haug (chair); Rolf A. Schütze; Johan Gernandt
Subject matter: Electricity sale agreement
Status of proceeding: Award rendered on 16.12.2003
Claim: Information not publicly available
Award: Award (click to download)
3. Plama Consortium Ltd. (Cyprus) v. Bulgaria
Counsel: Shearman & Sterling LLP (E. Gaillard & J. Savage); V. Colaiuta ("Avocat à la Cour" - for the phase on the merits up to May 2007); Nixon Peabody LLP (F.H. Penski - hearing on the merits) v. Bulgarian Ministry of Finance (I. Kondov); White & Case LLP (P. Friedland – New-York; C.B. Lamm; A. Cohen Smutny – Washington DC); Tomov & Tomov (L. Tomov)
Case registered: 19.08.2003
Forum & reference: ICSID Case n°. ARB/03/24
Arbitrators: Carl F. Salans (chair); Albert Jan van den Berg; V.V. Veeder
Subject matter: Oil refinery investment
Status of proceeding: Award rendered on 27.08.2008
10.02.2004 - Tribunal is constituted
20-21.09.2004 - Tribunal holds a hearing on jurisdiction in Paris
28.10.2005 - Decision on jurisdiction (click to download)
28.01-01.02.2008 - Tribunal holds a hearing on the merits in Washington, D.C.
14.04.2008 - Tribunal holds a hearing on oral arguments in Washington, D.C.
09.06.2008 - Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1)
27.08.2008 - Award rendered
Claim: USD 300 million (Shearman & Sterling website)
Award: Award (click to dowload)
4. Petrobart Ltd. (Gibraltar) v. Kyrgyzstan
Counsel: Setterwalls Adv. (F. Wennerholm & J. Sidklev) v. Leboeuf, Lamb, Green & McRae (E. Claes – Brussels; J.T. Corrigan & N. Aldashec – Bishkek)
Case registered: 01.09.2003
Forum & reference: Arbitration Institute of the SCC – Case n.° 126/2003
Arbitrators: former Justice Hans Danelius (chair), Jeroen Smets, Professor Ove Bring
Subject matter: Gas delivery contract
Status of proceeding:
Award rendered on 29.03.2005
Application for setting aside of award rejected by Svea Court of Appeal on 13.04.2006
Claim: Information not publicly available
Award: Award (click to download)
Judgment (click to download)
5. Alstom Power Italia SpA, Alstom SpA (Italy) v. Mongolia
Counsel: Lovells (A.R. Marshall & J. Reynolds), James Crawford SC & Simon Olleson v. Milbank, Tweed, Hadley & McCloy LLP (M.D. Nolan & E. Baldwin)
Case registered: 18.03.2004
Forum & reference: ICSID Case n°. ARB/04/10
Arbitrators: Marc Lalonde QC (chair); Jan Paulsson; Sir Anthony Mason
Subject matter: Thermal energy project, dispute relating to boiler rehabilitation
Status of proceeding: Settlement agreed by the parties and proceeding discontinued at their request
(Order taking note of the discontinuance pursuant to Arbitration Rule 43(1) issued by the Tribunal on 13.03.2006)
Claim: Information not publicly available
Award: N/A
6. Yukos Universal Ltd. (UK – Isle of Man) v. Russian Federation
Counsel: Shearman & Sterling (E. Gaillard, Y. Banifatemi, P. Pinsolle) v. Cleary Gottlieb (R.T. Greig, C. Annacker)
Case registered: 03.02.2005
Forum & reference: Ad hoc UNCITRAL Arbitration Rules; arbitration administered by the Permanent Court of Arbitration (PCA) in The Hague
Arbitrators: L. Yves Fortier (chair); Charles Poncet (replacing Daniel Price); Stephen Schwebel
Subject matter: Discriminatory measures and expropriation of investments
Status of proceeding: Pending
30.11.2009 - Interim Award on Jurisdiction and Admissability rendered (click to download)
Claim: USD 100 billion (total amount of compensation sought for disputes 6, 7, 8 - www.globalarbitrationreview.com)
Award: N/A
7. Hulley Enterprises Ltd. (Cyprus) v. Russian Federation
Counsel: Shearman & Sterling (E. Gaillard, Y. Banifatemi, P. Pinsolle) v. Cleary Gottlieb (R.T. Greig, C. Annacker)
Case registered: 03.02.2005
Forum & reference: Ad hoc UNCITRAL Arbitration Rules; arbitration administered by the Permanent Court of Arbitration (PCA) in The Hague
Arbitrators: L. Yves Fortier (chair); Charles Poncet (replacing Daniel Price); Stephen Schwebel
Subject matter: Discriminatory measures and expropriation of investments
Status of proceeding: Pending
30.11.2009 - Interim Award on Jurisdiction and Admissability rendered (click to download)
Claim: USD 100 billion (total amount of compensation sought for disputes 6, 7, 8 - www.globalarbitrationreview.com)
Award: N/A
8. Veteran Petroleum Trust (Cyprus) v. Russian Federation
Counsel: Shearman & Sterling (E. Gaillard, Y. Banifatemi, P. Pinsolle) v. Cleary Gottlieb (R.T. Greig, C. Annacker)
Case registered: 03.02.2005
Forum & reference: Ad hoc UNCITRAL Arbitration Rules; arbitration administered by the Permanent Court of Arbitration (PCA) in The Hague
Arbitrators: L. Yves Fortier (chair); Charles Poncet (replacing Daniel Price); Stephen Schwebel
Subject matter: Discriminatory measures and expropriation of investments
Status of proceeding: Pending
30.11.2009 - Interim Award on Jurisdiction and Admissability rendered (click to download)
Claim: USD 100 billion (total amount of compensation sought for disputes 6, 7, 8 - www.globalarbitrationreview.com)
Award: N/A
9. Ioannis Kardassopoulos (Greece) v. Georgia
Counsel: Skadden, Arps, Slate, Meagher & Flom (UK) LLP (K. Nairn & D. Herlihy) v. DLA Piper (C. Salomon & M. Saunders)
Case registered: 03.10.2005
Forum & reference: ICSID Case No. ARB/05/18
Arbitrators: L. Yves Fortier (chair); Francisco Orrego Vicuña; Vaughan Lowe (appointed following the passing away of Arthur Watts)
Subject matter: Oil and gas distribution enterprise
Status of proceeding: Pending
27.02.2006 - Tribunal constituted
15-16.01.2007 - Tribunal holds a first hearing on jurisdiction in London
06.07.2007 - Decision on jurisdiction (click to download)
10.01.2009-19.01.2009 - Tribunal holds a hearing on the merits in London
Claim: USD 350 million (DLA Piper website)
Award: N/A
10. Amto (Latvia) v. Ukraine
Counsel: Mannheimer Swartling (K. Hóber) & Svahnström (S. Svahnström) v. Grischenko & Partners (S. Voitovich, D. Grischenko and D. Shemelin) and Proxen & Partners (A. Alekseyev and O. Shevchuk)
Case registered: November 2005
Forum & reference: Arbitration Institute of the SCC
Arbitrators: Bernardo Cremades (chair), Per Runeland, Christer Söderlund
Subject matter: Nuclear power plant (dispute arising out of the bankruptcy of a nuclear power plant and default under contracts to provide services in relation to high voltage electrical equipment used in Zaporizhya power plant in Ukraine)
Status of proceeding: Award rendered on 26.03.2008
Claim: Information not publicly available
Award: Award (click to download)
11. Hrvatska Elektropriveda d.d. (HEP) (Croatia) v. Republic of Slovenia
Counsel: Hunton & Williams (R.W. Hawkins & D.D. Cors, Washington, D.C.; S.M. Sayers & T.J. Cawley of McLean, Va.) v. Allen & Overy (S. Jagusch, M. Levy, A. Sinclair & M. Jain – London; L. Gouiffès – Paris)
Case registered: 28.12.2005
Forum & reference: ICSID Case No. ARB/05/24
Arbitrators: David A. R. Williams (chair); Judge Charles N. Brower; Jan Paulsson
Subject matter: Nuclear power plant
Status of proceeding: Pending
20.04.2006 - Tribunal constituted
03.07.2006 - Tribunal holds a first session in London
05-16.05.2008 - Hearing on jurisdiction and merits in Paris
12.06.2009 - Decision on the Treaty interpretation issue and Individual Opinion (click to download)
Claim: Euro 31.7 Million (statement from Croatia's Ministry of Economy)
Award: N/A
12. Libananco Holdings Co. Limited (Cyprus) v. Republic of Turkey
Counsel: Crowell & Moring LLP (S.H. Newberger, D. Contratto) & A.L. Demetriades, Barrister (Cyprus) v. Information not publicly available
Case registered: 19.04.2006
Forum & reference: ICSID Case No. ARB/06/8
Arbitrators: Michael Hwang (chair), Henri C. Alvarez and Sir Franklin Berman Q.C.
Subject matter: Electricity generation and distribution concessions (expropriation)
Status of proceeding: Pending
18.12.2006 - Tribunal constituted
12.02.2007 - Tribunal holds a first session in New York
28-29.04.2008 - Tribunal holds a hearing on the parties' request in Washington, D.C.
23.06.2008 - Tribunal issues a detailed decision on preliminary issues
Claim: USD 10 billion (claim announced 23.02.2006 www.crowell.com)
Award: N/A
13. Azpetrol International Holdings B.V., Azpetrol Group B.V. and Azpetrol Oil Services Group B.V. (the Netherlands) v. Azerbaijan
Counsel: McDermott Will & Emery UK LLP (J. Blanch & A. Moody) v. Allen & Overy (S. Jagusch, J. Gill & A. Sinclair – London; L. Gouiffès – Paris)
Case registered: 30.08.2006
Forum & reference: ICSID Case No. ARB/06/15
Arbitrators: Florentino P. Feliciano (chair - appointed following the passing away of Arthur Watts), Professor Christopher Greenwood QC CMG, Judge Charles N. Brower
Subject matter: Oil and gas distribution, trade, storage and transportation enterprises
Status of proceeding: Award rendered on 27.08.2009
18.01.2007 - Tribunal is constituted
02.04.2007 - Tribunal holds its first session in London
30.06-01.07.2008 - Tribunal holds a hearing on jurisdiction in London
07.01.2009 - Tribunal issues a procedural order concerning the Respondent's request for the discontinuance of the proceeding of 31.12.2008
27.08.2009 - Award rendered
Claim: Information not publicly available
Award: Award (click to download)
14. Barmek Holding A.S. v. Azerbaijan
Counsel: Lovells (M. Davison & J. Reynolds); Yazici (M. Yazici) v. Latham & Watkins LLP (R. Volterra & S. Seeleman-Eggebert)
Case registered: 16.10.2006
Forum & reference: ICSID Case No. ARB/06/16
Arbitrators: Vaughan Lowe (chair); Peter Galbraith; Brigitte Stern
Subject matter: Electricity concession
Status of proceeding: 28.09.2009 - Settlement agreed to by the parties (http://icsid.worldbank.org)
Claim: Information not publicly available
Award: Settlement award
15. Cementownia "Nowa Huta" S.A. (Poland) v. Republic of Turkey
Counsel: Mannheimer Swartling Advokatbyrå (K. Hóber, J. Ragnwaldh & N. Eliasson) v. Freshfields Bruckhaus Deringer (J. Paulsson, L. Reed & B. King) and Cosar Avukatlik Bürosu (Aydin Cosar, U. Cosar & Arzu Cosar)
Case registered: 16.11.2006
Forum & reference: ICSID Case No. ARB(AF)/06/2
Arbitrators: Pierre Tercier (Chair), Marc Lalonde QC, Christopher Thomas
Subject matter: Electricity concessions
Status of proceeding: Award rendered on 17.09.2009
11.05.2007 - Tribunal constituted
23.08.2007 - Tribunal holds a first session in Paris
26.05.2008 - Tribunal holds a hearing on the parties' renewed applications in Paris
30.07.2008 - Tribunal issues a procedural order concerning the procedural calendar
22.01.2009 - Tribunal issues a procedural order deciding to deal with the objections to jurisdiction as a preliminary matter; as a result the proceeding on the merits is suspended
17.09.2009 - Award rendered
Claim: USD 4.6 billion (www.globalarbitrationreview.com)
Award: Award (click to download)
16. Europe Cement Investment and Trade S.A. (Poland) v. Republic of Turkey
Counsel: Mannheimer Swartling Advokatbyrå (K. Hóber, J. Ragnwaldh & N. Eliasson) v. Freshfields Bruckhaus Deringer (J. Paulsson, L. Reed & B. King) and Cosar Avukatlik Bürosu (Aydin Cosar, U. Cosar & Arzu Cosar)
Case registered: 06.03.2007
Forum & reference: ICSID Case n°. ARB(AF)/07/2
Arbitrators: Donald McRae (Chair); Julian D M Lew QC; Laurent Lévy
Subject matter: Electricity concessions
Status of proceeding: Award rendered on 13.08.2009
13.09.2007 - Tribunal constituted
21.11.2007 - Tribunal holds a first session with the parties by telephone conference
25.05.2008 - Tribunal holds a hearing on the parties' renewed applications in Paris
23.07.2008 - Tribunal issues a procedural order concerning the procedural calendar
23.12.2008 - Tribunal issues a procedural order concerning the continuation of the proceeding
13.08.2009 - Award rendered
Claim: USD 3.8 billion (www.globalarbitrationreview.com)
Award: Award (click to download)
17. Liman Caspian Oil B.V. (the Netherlands) and NCL Dutch Investment B.V. (the Netherlands) v. Republic of Kazakhstan
Counsel: Clifford Chance (A. Sheppard, A. Panayides & I. Suarez Anzorena) v. Reed Smith LLP (D. Warne & B. Paisley) and 3 Verulam Buildings (A. Malek QC & C. Harris)
Case registered: 16.07.2007
Forum & reference: ICSID Case No. ARB/07/14
Arbitrators: Karl-Heinz Böckstiegel, Kaj Hóber and James R. Crawford
Subject matter: Exploration and extraction of hydrocarbons
Status of proceeding: Pending
24.01.2008 - Tribunal constituted
02.04.2008 - Tribunal holds a first session in London
15.10.2008 - Tribunal issues a procedural order concerning the procedural calendar
Claim: Information not publicly available
Award: N/A
18. Electrabel S.A. v. Republic of Hungary
Counsel: Clifford Chance LLP (J. Beechey, A. Sheppard – London & Z. Faludi – Budapest) v. Arnold & Porter LLP (J. Engelmayer Kalicki – Washington, D.C., T. Frazer – London, L. Gyselen – Brussels & Dr. J. Katona – Budapest)
Case registered: 13.08.2007
Forum & reference: ICSID Case No.ARB/07/19
Arbitrators: V.V. Veeder (Chair); Gabrielle Kaufmann-Kohler; Brigitte Stern
Subject matter: Electricity generation
Status of proceeding: Pending
05.12.2007 - Tribunal constituted
15.05.2008 - Tribunal holds a first session in London
03.09.2008 - ICSID receives a petition for amicus curiae participation from the European Commission
Claim: Information not publicly available
Award: N/A
19. AES Summit Generation Limited and AES-Tisza Erőmű Kft. v. Republic of Hungary
Counsel: Allen & Overy (S. Jagusch, R. Farnhill & J. Sullivan) v. Arnold & Porter LLP (J. Engelmayer Kalicki – Washington, D.C., T. Frazer – London, L. Gyselen – Brussels and Dr. J. Katona – Budapest)
Case registered: 13.08.2007
Forum & reference: ICSID Case No.ARB/07/22
Arbitrators: Claus von Wobeser (Chair); J. William Rowley; Brigitte Stern
Subject matter: Electricity generation
Status of proceeding: Pending
20.11.2007 - Tribunal constituted
09.01.2008 - Tribunal holds a first session in London
03.09.2008 - ICSID receives a petition for amicus curiae participation
26.11.2008 - Tribunal issues a procedural order concerning the filing of an amicus curiae written submission pursuant to ICSID Arbitration Rule 37(2)
Claim: Information not publicly available
Award: N/A
20. Mercuria Energy Group Ltd. v. Republic of Poland
Counsel: Shearman & Sterling LLP (P. Pinsolle & Y. Banifatemi) v. Clifford Chance LLP (A. Sheppard & B. Kruzewski) and Public Prosecutor's office (R. Zajdler)
Case registered: 24.07.2008
Forum & reference: Arbitration Institute of the SCC
Arbitrators: Pierre Tercier (Chair); Albert Jan van den Berg; Vaughan Lowe QC
Subject matter: Mandatory fuel reserves
Status of proceeding: Pending
Tribunal constituted (announced on 22.01.2009 at www.iareporter.com)
Claim: USD 700 million (www.globalarbitrationreview.com)
Award: N/A
21. Alapli Elektrik B.V. v. Republic of Turkey
Counsel: Latham & Watkins LLP (R. Volterra, S. Seelmann-Eggebert & S. Fietta) v. Sidley Austin LLP
Case registered: 27.08.2008
Forum & reference: ICSID Case No. ARB/08/13
Arbitrators: William W. Park (Chair); Marc Lalonde QC; Brigitte Stern
Subject matter: Electricity concession
Status of proceeding: Pending
Claim: Information not publicly available
Award: N/A
22. Vattenfall AB, Vattenfall Europe AG, Vattenfall Europe Generation AG & Co. KG v. Federal Republic of Germany
Counsel: Mannheimer Swartling LLP (K. Hobér) and Luther Rechtsanwaltsgesellschaft (R. Happ) v. In-house counsel
Case registered: 17.04.2009
Forum & reference: ICSID Case No. ARB/09/6
Arbitrators: Marc Lalonde QC (Chair); Sir Franklin Berman QC; Gabrielle Kaufmann-Kohler
Subject matter: Construction of a coal-fired power plant and environmental protection measures (expropriation)
Status of proceeding: Pending
Claim: EUR 1.4 billion (globalarbitrationreview.com)
Award: N/A
23. EDF International S.A. v. Republic of Hungary
Counsel: Shearman & Sterling (P. Pinsolle & E. Gaillard) v. Mannheimer Swartling (K. Hobér, J. Ragnwaldh, M. Göransson and T. Pettersson) and BNT (L. Szabó and J. Burmeister)
Case registered: May 2009
Forum & reference: Ad hoc UNCITRAL Arbitration Rules
Arbitrators: Karl-Heinz Böckstiegel (chair); Pierre-Marie Dupuy; Albert Jan van der Berg
Subject matter: Termination of long-term power purchase agreements
Status of proceeding: Pending
Claim: Not yet quantified (globalarbitrationreview.com)
Award: N/A
24. EVN AG v. The Former Yugoslav Republic of Macedonia
Counsel: Freshfields Bruckhaus Deringer LLP (W. Plesser, C. Konrad, N. Rubins & J. Commission) v. information not publicly available
Case registered: 03.06.2009
Forum & reference: ICSID Case No. ARB/09/10
Arbitrators: Not yet appointed
Subject matter: Electricity distribution (expropriation)
Status of proceeding: Pending
Claim: Information not publicly available
Award: N/A