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Chronicle International Investments Law and Practice: April 15 to June 30, 2009

Author: Walid Ben HAMIDA, Emmanuelle CABROL, Ferhat HORCHANI

Type: Article : News

ref: 52009643-664

N0:5 of 2009

Pages: 643-664

This column covers the period from 15 April to 30 June 2009 and reports on an award that ended the ongoing dispute since 2003 between Algeria and the Italian group of the companies, L.E.S.I. and ASTALDI. One of the most interesting issues dealt with in this award is the implied inclusion of fair and equitable treatment in the most favoured nation clause. It also considers the award TSA Spectrum v. Argentina, which contributes to the notion of "foreign control" under article 25(2)(b) of the Washington Convention. Interestingly, it chooses an objective approach required to pierce the corporate veil in order to determine the real ultimate control of the local company.

In the section on legal texts and news, the column reports on the amendment of Ukrainian law on international arbitration, the arbitration before the OHADA Common Court of Justice & Arbitration (CCJA) in investment matters, the Venezuelan law nationalising oil contracts and the amendment under Vietnamese law of the definition of a foreign investment.

The bibliography reports on new and useful publications in the field of investment law. It contains two new sections on colloquiums and seminars and on dissertations in investment law.