Organisation: European Central Bank
First ICSID claim against Malta clears hurdle
An ICSID tribunal has upheld its jurisdiction to hear a claim against Malta brought by the owner of a bank that was shut down amid allegations of corruption.
01 October 2024
Cyprus reports victory in mass intra-EU claim over bank bailout
Cyprus says it has beaten the bulk of a US$570 million ICSID claim brought by nearly 1,000 Greek and Luxembourgish investors over bonds and bank deposits they said were confiscated as part of the state’s financial bailout by European institutions.
23 May 2024
Russian court seizes assets of European banks
A Russian court has allowed a Gazprom joint venture to seize over €700 million in assets held by UniCredit, Deutsche Bank and Commerzbank – defying UK court rulings that the litigation should be heard in ICC arbitration.
20 May 2024
Bondholders prepare treaty claim over Credit Suisse
UPDATED. Credit Suisse bondholders based in Singapore are reportedly preparing an investment treaty claim against Switzerland after their bonds became worthless following the bank’s recent takeover by UBS.
19 April 2023
Will Switzerland face treaty claims over Credit Suisse?
Bondholders are said to be considering potential investment treaty claims against Switzerland after learning they stand to lose US$17 billion through the takeover of Credit Suisse by UBS.
24 March 2023
US court bars discovery for ICSID case
A US court has vacated discovery orders granted in aid of an investment treaty claim against Malta – dashing hopes that ICSID cases might have escaped the scope of a recent US Supreme Court prohibition against discovery for foreign arbitrations.
02 November 2022
German constitutional court upholds provisional application of CETA
Germany’s Federal Constitutional Court has rejected several challenges to the provisional application of a controversial free trade agreement between the EU and Canada.
16 March 2022
Orange head resigns after guilty verdict in Tapie affair
Stéphane Richard has resigned as chairman and CEO of Orange after being convicted over his role in the French government’s decision to submit a €400 million dispute with the late French businessman Bernard Tapie to arbitration.
26 November 2021
ICSID panel splits representation of insolvent claimant
An ICSID tribunal has ruled that an insolvency administrator can represent a Latvian bank in an arbitration against the Baltic state – but that an ancillary claim over whether his appointment was itself a treaty breach should be argued by the bank’s former directors.
20 September 2021
Bank owner targets consultant in Maltese corruption claim
The Chinese owner of a collapsed bank has applied to a US court for discovery from a European Central Bank supervisory board member in aid of corruption allegations it is making in an ICSID claim against Malta.
01 September 2021