Region: Latvia
Snow crab investors’ claims stall at ICSID
A trio of ICSID cases brought against Norway by Baltic companies over rights to fish for snow crab have stalled in recent weeks, with two claims discontinued and an attempt to revive a €450 million case suspended.
22 July 2024
Snow crab investors seek to revive claim against Norway
Latvian investors are seeking to annul an ICSID award that dismissed their €450 million treaty claim against Norway over rights to fish for snow crab, alleging that the state lied to the tribunal and knowingly appointed counsel with conflicts.
28 February 2024
Norway sees off claim by snow crab investors
Latvian investors have vowed to challenge an ICSID award that dismissed their €450 million claim against Norway over rights to fish for snow crab.
02 January 2024
Baltic grid operators face SCC claim from Russian supplier
Russian energy group Inter RAO has filed for arbitration at the Stockholm Chamber of Commerce against three Baltic electricity transmission operators that stopped contractual payments to comply with international sanctions.
16 October 2023
Dutch investor turns to Latvian courts over animal fur ban
A Dutch investor says it will bring a €56 million claim against Latvia in the country’s courts over a ban on mink fur farming – deciding against pursuing an intra-EU bilateral investment treaty case.
27 March 2023
Norway faces third snow crab claim
A third Baltic fishing company has brought an ICSID claim against Norway over rights to fish for snow crab, under a treaty that is just days away from being terminated.
22 March 2023
KPMG barred from snow crab case at ICSID
An ICSID tribunal has barred KPMG from advising Norway in a €400 million dispute over snow-crab fishing because of a “clear conflict of interest” – while refusing to disqualify Norwegian firm Wikborg Rein from acting for the state.
21 March 2023
Latvia's lack of set-aside provisions ruled unconstitutional
Practitioners have welcomed a ruling by Latvia’s Constitutional Court directing the legislature to introduce a mechanism for the setting aside of awards, an omission that had made the Baltic state “a long-time outlier in the international community”.
15 March 2023
Investors threaten Latvia over bank closure
A US company and three other investors have threatened Latvia with a €512 million investment treaty claim after a Riga-based bank they invested in had its operations suspended following a money laundering investigation.
13 March 2023
Latvia warned of ICSID claim over 5G
A US private equity firm specialising in media and telecoms has warned Latvia of a potential ICSID claim, alleging a local regulator is impeding its investment in the mobile 5G market.
23 January 2023