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Sub practice
Sub practice

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 have represented our clients in more than 50 investment treaty claims and have extensive experience of handling arbitration proceedings under the ICSID Convention and the UNCITRAL Arbitration Rules. We regularly represent both sovereign States and claimant investors in these complex disputes.

In addition, we advise states in relation to the negotiation of, and accession to, investment treaties and other public international law instruments, such as free trade agreements. We also advise clients in relation to the structuring, and restructuring, of their overseas investments to secure investment treaty protection.

Ours is a truly global practice, with leading investment treaty practitioners in a number of locations around the world, including London, Paris, Hong Kong, Dubai and Singapore.

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

New remuneration for renewable energy in Spain

More favourable treatment seeks to avoid the initiation of new arbitration proceedings and to terminate existing ones

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Balancing foreign investor protections

Publications: 14 AUGUST 2019

Balancing foreign investor protections with domestic policy initiatives in South Africa

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.

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Publications: 01 JULY 2019

The General Court comes to Miculas’ aid

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). 

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Publications: 01 OCTOBER 2018

No sovereign immunity for Ukraine against investment treaty award creditor

​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 [2018] EWHC 1797 (Comm), 13 July 2018

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Compact contract

Wooden jenga blocks scattered across a table

A brief look at topical issues in contract law

A blog where experts from Allen & Overy analyse the latest contract law themes and developments, and what they mean for your business.

Recognition