Aceris Law

International Arbitration Law Firm

Damages in Arbitration

Valuation Date of Expropriated Investment in Investor-State Arbitration

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The valuation date of an expropriated investment represents a crucial factor in assessing the amount of compensation to be paid in investor-State arbitrations, as the value of investments may change dramatically over the course of time. Arbitral tribunals are keenly aware that the value of investments change over time. For example, the Iran-US Claims Tribunal […]

Duty to Mitigate Damages in Investment Arbitration

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Notion of the Duty to Mitigate Damages Along with contributory negligence, a duty to mitigate damages is considered as a “compensation-reducing”[1] factor. However, contrary to contributory negligence, the duty to mitigate damages arises only after the breach of an international obligation. It implies an obligation for an aggrieved party to “take steps to minimize his loss, on […]

Damages in Investment Arbitration

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The recovery of damages in investment arbitration is a multi-layered and complex issue. You do not need to be an expert, however, to understand the most important concepts. Introduction and Basic Principles The root of all claims for damages under public international law is the Chorzów case. In it, the Permanent Court of International Justice (the predecessor […]

BG GROUP PLC. V. REPUBLIC OF ARGENTINA – CASE NO. U.S. 12-138 (2014) – U.S. SUPREME COURT

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In this dispute, the Claimant was part of a consortium owning majority shares in MetroGas, for the distribution of natural gas in Buenos Aires. Before the 2001 financial crisis, Argentinean law provided that gas tariffs were calculated in US dollars for profitable returns. However, the crisis led to emergency measures, one of which implemented a […]

Irreparable Damage and Interim Measures: ENCANA CORP. v. GOVERNMENT OF THE REPUBLIC OF ECUADOR (LCIA, Interim Award, Request for Interim Measures of Protection – 2004)

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In the well-known case Encana v. Ecuador, the Arbitral Tribunal refused to order interim measures on the basis of there being no irreparable damage. On January 8, 2004, Claimant requested an urgent hearing of an application for interim relief regarding the enforcement of certain measures that the Ecuadorian government had taken against one of its […]

Supplementation of an Arbitration Award under the ICSID Convention

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The supplementation of an arbitration award under Article 49(2) of the ICSID Convention is a remedy for inadvertent omissions in the award due to an oversight on the part of the tribunal which is likely to be corrected by it once this oversight is pointed out. This oversight should however concern a “question” before the […]