Lone Star said it does not accept this week’s annulment ruling by the International Centre for Settlement of Investment Disputes, signaling that it could pursue a new round of arbitration against the Korean government.
For over 20 years, Argentina had the world’s highest number of investor claims before international arbitration tribunals. It also has the highest number of bilateral investment treaties in force in Latin America and the Caribbean.
Gold miner Aris Mining has reached a settlement with Colombia to terminate a long-running investor–state arbitration case, marking the first agreement of its kind in the country and ending a dispute dating back to 2018.
Colombian Environment Minister Irene Vélez Torres has called for reform of international arbitration tribunals, saying they’re “one of the greatest obstacles” to the energy transition and favor corporate interests over sovereignty.
An international arbitration body for investor–state dispute settlement has ruled in favor of South Korea in its challenge to the award for private equity fund Lone Star over its 2012 sale of a local bank.
Belgium fears that using the assets would leave it exposed to Russian legal action. This is a major concern for Belgium, which has a bilateral investment treaty with Russia, first signed in 1989.
The Government of Pakistan is facing a potential threat of arbitration from Saudi and Kuwaiti investors, key shareholders in K-Electric, who have already served a USD2 billion notice on Islamabad.