Netherlands confronted with €1 4 billion ICSID claim in first Dutch investor-state arbitration internationallawoffice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationallawoffice.com Daily Mail and Mail on Sunday newspapers.
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Kuwaiti logistics company Agility s claim to recover more than $380 million it said it lost in Iraq has been rejected by an international tribunal, a document seen by Reuters showed.
Agility, one of the largest Gulf logistics companies, was also ordered to pay Iraq more than $5m for costs related to the case.
The company filed for arbitration in 2017 with the International Centre for Settlement of Investment Disputes (ICSID), which is part of the World Bank Group and handles disputes between international investors.
Agility has said Iraq indirectly confiscated its investment, which was worth over $380m, and violated a 2015 bilateral protocol between Kuwait and Iraq on encouraging the movement of capital and investment between the two countries.
Agility s $380m claim against Iraq dismissed by international tribunal thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
In the media
Australian senate endorses news media bargaining
code
Latest approval takes bargaining code between news media
companies and Google and Facebook a step closer to law.
Australia s controversial and internationally debated News
Media Bargaining Code is a step closer to being enacted into
legislation following the Senate s decision to pass the Media
and Digital Platforms Mandatory Bargaining Code Bill
2020
.(12 February 2021).
More.
Government moving in the right direction on Federal
Judicial Commission
The Law Council of Australia has long advocated for the
establishment of a standalone Federal Judicial Commission and
considers the government is moving in the right direction by
By Reuters Staff
2 Min Read
ZAGREB, Feb 2 (Reuters) - Six banks have agreed not to take legal action against Croatia over its conversion of Swiss franc loans into euros in 2015 at the lenders’ expense, the finance minister said on Tuesday.
Many individuals and companies in Croatia and eastern Europe had taken out Swiss franc mortgages to benefit from low interest rates but were then caught out when the franc strengthened in 2015, leaving them with higher debts to pay.
Croatia’s then centre-left government forced banks to convert the loans to euros to protect borrowers. The banks carried the costs of about 1 billion euros ($1.2 billion), prompting them to either launch lawsuits or threaten action saying costs had not been fairly shared out.