The aim of this paper is to review all the protective provisions found mostly in all BITs, whether coming from customary international law or enunciated through the BIT itself in order to illustrate the implications of those provisions so that a proper understanding of the obligations imposed therein on the host States can be illustrated.
ICSID has published a new set of statistics about its caseload during 2012 and the aggregate since it was created by the Washington Convention in 1965.
During the last stop of her recent African tour IMF’s Managing Director Christine Lagarde attended the fifth regional conference of finance ministers and central bank governors of the Maghreb region in Nouakchott, Mauritania where she again called for more foreign direct investment (FDI) towards Africa, this time to the Maghreb.
IMF Managing Director Christine Lagarde has wrapped up an official tour to Africa. To date two speeches delivered by Mrs. Lagarde during her tour have been published at IMF’s website: the first one before the Malawian Confederation of Chambers of Commerce and Industry in Lilongwe on 5 January 2013 and the second one before the National Assembly of Ivory Coast in Abidjan on 7 January 2013.
Investment treaties provide a way for investors to mitigate sovereign risk problems, including those arising from changing regulatory frameworks. Companies investing in Africa may be able to structure their investment to take advantage of the protections provided by over 400 bilateral investment treaties which African countries have entered into with developed countries. For example, Egypt has entered into over 100 investment treaties, with both developed and developing countries, while Nigeria has entered into more than 20 such treaties, including with France, Germany, the Netherlands and the United Kingdom. Continue reading
Following our post on the upcoming entry into force of EU Regulation 1219/2012 we hereby offer a short summary regarding its impact on the BITs signed by Spain with third countries (i.e., excluding those BITs signed with current or upcoming EU Member States).
On 20 December 2012 the Official Journal of the EU published Regulation No. 1219/2012 of the European Parliament and of the Council of 12 December 2012 establishing transitional arrangements for bilateral investment agreements between Member States and third countries:
The use of international petroleum contracts in petroleum development has now become a contemporary trend throughout the world. In practice, petroleum development has been determined by these contracts, and multinational companies involved in petroleum development have entered into a lot of these contracts, which have caused them to carry out petroleum development in regions inhabited by indigenous communities. These indigenous communities include the communities in Niger Delta of Nigeria. Having said that, the communities in the Niger Delta see such development as a threat leading to the infringement of their traditional rights related to the use and management of lands and natural resources which they perceive as theirs by way of tradition and usage. Accordingly, this projected development of traditional lands has generated traditional rights concerns that have caused conflicts in the Niger Delta region of Nigeria inhabited by indigenous communities. Continue reading
Arbitral awards cover a range of remedies such as monetary compensation, punitive damages, specific performance and restitution, injunctions, declaratory reliefs, rectification, adaptation of contracts, interest and costs. The successful party in an arbitration proceeding expects the award to be performed without delay. However, it may happen that the beneficiary of an award has to forcefully execute it for him to enjoy the fruit of the award. Continue reading