On February 21, 2025, the Supreme Court issued its decision in Republic of Hungary v. Simon, holding that allegations of commingling of funds alone cannot satisfy the US commercial nexus requirement of the expropriation...more
In 2024, U.S. courts issued consequential decisions in cases brought against foreign states and their agencies and instrumentalities under the Foreign Sovereign Immunities Act (“FSIA”). This alert summarizes key decisions in...more
Mining is a capital-intensive and long-term activity that often involves operating in challenging and uncertain environments. As a foreign investor in the mining sector, you may face various risks, such as expropriation,...more
U.S.-Colombian relations are currently experiencing a period of heightened tension, as evidenced by recent trade measures and diplomatic exchanges. Moreover, in the last weeks the Free Trade Commission (the "Commission") of...more
In its recent decision in Agudas Chasidei Chabad of United States v. Russian Federation, the US Court of Appeals for the DC Circuit clarified the rules surrounding the “expropriation exception” to sovereign immunity under the...more
With the continuing exit and suspension of operation of foreign entities in Russia, Russian State authorities are exploring retaliatory measures, including a regime for the nationalisation and forced sale of foreign assets. ...more
Russia recently announced its Economic Development Ministry has drafted legislation to prevent the exodus of international businesses from Russia by nationalizing them. The Putin-backed proposed bill would allow the...more
Recent news reports out of Russia have advised that it may expropriate or nationalize assets of foreign investors. Investors should be aware that such actions may breach bilateral or multilateral treaties that include...more
US Supreme Court Issues Trio of Arbitration Decisions - During its 2018-19 term, the U.S. Supreme Court issued decisions in three cases involving arbitration matters. These decisions, discussed further in our September 26,...more
The Situation: A group of South African mining investors attempted to revive an investment treaty award by which the Kingdom of Lesotho was held liable for its role in disbanding the Tribunal of the Southern African...more
The United States, Canada, and Mexico have reached an agreement to update the North American Free Trade Agreement (NAFTA) after more than a year of negotiations. Rebranded as the U.S.-Mexico-Canada Agreement, or USMCA, the...more
On September 30, 2018, the United States, Mexico and Canada announced they had reached an agreement to revamp the 24-year-old North American Free Trade Agreement (NAFTA), which now will be known as the United...more
Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place. Since 1982, the People's Republic of China (PRC)...more
The District Court of the Hague overturned a record $50 billion in damages awards issued by the Permanent Court of Arbitration (“PCA”), to the former controlling shareholders of the Yukos Oil Company on the grounds that...more
On November 5, 2015, after seven years of high-stakes negotiations, the Office of the United States Trade Representative released the draft Trans-Pacific Partnership (TPP), a proposed free trade agreement among the United...more
Most investment treaties assure investors that, in the event of expropriation, they will receive compensation based on the market value of the enterprise at the time of seizure (excluding the negative valuation effects of any...more