Investment Treaty Arbitration
Allen & Overy has one of the world’s leading International Arbitration practices and a long track record of achieving successful outcomes for our clients in high-value, complex disputes.
We are recognised as being innovators in this field and as having particular expertise in relation to disputes arising under the Energy Charter Treaty (ECT). Our experience includes bringing the very first arbitration under the ECT, as well as the first collective claim under the ECT.
News & insights
Publications: 27 NOVEMBER 2019
More favourable treatment seeks to avoid the initiation of new arbitration proceedings and to terminate existing onesRead more
Publications: 14 AUGUST 2019
One should not underestimate the positive effect of foreign direct investment on a country’s growth and development and the importance of creating an investor-friendly environment in uncertain economic times.Read more
Publications: 01 JULY 2019
In a decision rendered on 18 June 2019 (joint Cases T 624/15, T 694/15 and T 704/15), the General Court of the European Union (the Court) annulled the European Commission’s (the EC) decision 2015/1570 of 30 March 2015 on State aid SA.38517 (2014/C) (ex 2014/NN) (the EC Decision) that precluded Romania from complying with an award rendered by the International Centre for Settlement of Investment Disputes (ICSID) in favour of Swedish investors Ioan Micula and Viorel Micula and a number of corporate entities they control (the Court's Decision).Read more
Publications: 01 OCTOBER 2018
Ukraine’s recent attempt to resist enforcement of an UNCITRAL award on sovereign immunity grounds has failed. Most importantly, the decision confirms the inherent value in any arbitration agreement –a State may lose the right to claim immunity, as a basis for resisting enforcement, by agreeing to arbitrate “any dispute” in the underlying Bilateral Investment Treaty: PAO Tatneft v Ukraine  EWHC 1797 (Comm), 13 July 2018Read more
A brief look at topical issues in contract law
Highly regarded for its stellar track record in representing sovereign states and corporates in high-value investment treaty disputes. Considerable experience carrying out its own advocacy before courts and tribunals. Also adept at handling a number of other public international law matters, such as Energy Charter Treaty claims, WTO cases, sovereign immunity concerns and international treaty drafting and negotiation.
Chambers UK 2018, Public International Law
Prominent international team which maintains a respected arbitration practice. Has a wealth of experience acting for both claimants and respondents in investment treaty disputes… Commentators praise the firm, stating that "they undoubtedly have a fantastic practice," and describing the arbitration group as a "truly global practice.
Chambers Global 2018, International Arbitration
Representative examples of our recent work include acting for:
British Caribbean Bank Limited (BCB) and Dunkeld International Investment Limited
More than 25 international investors
The Islamic Republic of Pakistan
- Two related claims, brought under the UNCITRAL Rules, arising from alleged interference in gas import operations at a terminal at the country’s second-biggest port. After ten days of hearings at which we did all the advocacy for our client, the Tribunal dismissed the nearly USD600m claims in their entirety and ordered the claimants to pay nearly 90% of Pakistan’s costs.
- A third ongoing investment treaty arbitration at ICSID, arising from the arrest by Pakistan of certain ships belonging to Turkish power-ship company Karkey Karadeniz, which values its claim at in excess of USD2 billion; and
- A fourth claim, brought by Australian mining company, Tethyan Copper Company, in relation to a mining concession in the Balochistan Province of Pakistan. This multi-billion dollar claim is also brought at ICSID.
Millicom International Cellular S.A
The Republic of Poland