Minding Your Business

Proskauer’s perspective on developments and trends in commercial litigation.

Tag Archives: Energy Charter Treaty

Kazakhstan Ordered to Pay $506 Million for Crude Expropriation of Oil and Gas Investments

In a case that highlights both that governments are not above the rule of law and that it is difficult to swiftly enforce arbitral awards, a Swedish appeals court, on December 12, 2016, upheld a $506 million award against Kazakhstan. The award stems from Kazakhstan’s 2008 seizure of the oil and gas investments of two … Continue Reading

Hague Court Finds Arbitration Panel Has No Jurisdiction Against Russia Pursuant to Unratified Treaty

The District Court of the Hague overturned a record $50 billion in damages awards issued by the Permanent Court of Arbitration (“PCA”), to the former controlling shareholders of the Yukos Oil Company on the grounds that Russia had not submitted itself to the PCA’s jurisdiction. In 2014, the PCA awarded the former Yukos Oil Company … Continue Reading
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