The dispute arose under the Free Trade Agreement between Canada and Peru and concerned Lupaka’s investment in the Invicta gold project, located in the Andean highlands of Peru.
Samvel Karapetyan, a prominent businessman and a founder of Tashir Group, one of the largest group of companies in Eastern Europe, together with his family, sent a notice of investment dispute to the state officials of the Republic of Armenia.
Key features include the exclusion of concessions for natural resources from its protection remit, the inclusion of sovereign wealth funds as "Investors" and a denial of benefits clause.
Russia-based Armenian businessman Samvel Karapetyan, the owner of Tashir Group, has initiated arbitration proceedings against France at the International Centre for Settlement of Investment Disputes
The Canadian government should not implement the recently-signed free trade agreement with Ecuador because the agreement’s potential to facilitate environmental and human rights abuses.
The BIT has calibrated the Investor-State Dispute Settlement mechanism with mandatory exhaustion of local remedies, thereby, providing investors alternate dispute resolution mechanism.