An UAE-based trading and investment firm has filed a lawsuit before the Sindh High Court worth around Rs 74 billion against the State Bank of Pakistan and a private bank for BIT breach, local media reported.
Despite debates about crisis in investment treaty arbitration, most emerging market economies are concluding BITs that provide for ISDS and emerging market multinational companies appear to welcome ISDS.
The Government of India and the Government of Andhra Pradesh are facing an arbitration suit due to the cancellation of bauxite mining approvals in Visakhapatnam. This is the latest in a series of legal actions by foreign investors in the country.
India has introduced provisions in the just-concluded bilateral investment protection and promotion agreement (BIPPA) with the United Arab Emirates to ensure that only executive decisions can be challenged and that too within a stipulated period.
UAE companies that have invested in Egypt may stand to lose millions of dollars as the state runs an investigation into alleged corruption by former government officials who sold land and assets to investors below market prices, lawyers say.