Investor-State Arbitration

Steptoe has an extensive history of representing both States and investors in investor-State arbitrations and other international law disputes. The Global Arbitration Review awarded Steptoe one of its top prizes at the 2016 GAR Awards, where we won in the category "International arbitration practice that impressed in the past year." In addition, our arbitration team in 2016 received The American Lawyer’s award for "Global Dispute of the Year: Investment Arbitration (Africa)." 

By way of illustration, Steptoe's recent experience in investor-State arbitration includes:

• Lead counsel to the State in regard to the alleged breach of the US-Trinidad & Tobago bilateral investment treaty. Concerns a gas-to-liquids plant. ICSID Arbitration. NiQuan Energy LLC v The Republic of Trinidad & Tobago. ICSID Arbitration. ICSID Case No. ARB/24/17. Ongoing. 
• Counsel to the investors in respect of an investment dispute with the Republic of Malta arising from the interference in the management, and eventual expropriation of a banking enterprise. Alpene Ltd v. Republic of Malta. ICSID arbitration. ICSID Case No. ARB/21/36.
• Lead counsel (since April 2023) to a US telecommunications company in an arbitration against Colombia arising from Colombia's termination of the investor’s concession. The proceeding is being brought pursuant to the US-Colombia Trade Promotion Agreement. Vercara, LLC (formerly Security Services, LLC, formerly Neustar, Inc.) Republic of Colombia. ICSID arbitration. ICSID Case No. ARB/20/7. Ongoing.
• Lead counsel to investors in an ICSID arbitration against an African State relating to the expropriation of a substantial aquaculture enterprise by The Gambia. West African Aquaculture Ltd v. The Republic of The Gambia. ICSID arbitration. ICSID Case No. ARB/18/10. Tribunal upheld our client’s claims and awarded 94% of damages claimed.
• Lead counsel to investors in a dispute with The Republic of Zimbabwe arising from breaches of a bilateral investment treaty. Concerned investments in agriculture projects. Our clients were awarded restitution and damages (alternatively $196 million in damages), plus their full legal costs and interest. Bernhard von Pezold & Ors v. The Republic of Zimbabwe. ICSID arbitration. ICSID Case No. ARB/10/15. We successfully resisted Zimbabwe's application for the award to be annulled. Currently leading a multi-jurisdictional enforcement process. 
• Lead counsel to investors in a dispute with The Republic of Zimbabwe arising from breaches of a bilateral investment treaty. Concerned investments in agriculture projects. Border Timbers Ltd & Ors v. The Republic of Zimbabwe.ICSID arbitration. ICSID Case No. ARB/10/25. Our clients were awarded restitution and damages (alternatively $125 million in damages), plus their full legal costs and interest. We successfully resisted Zimbabwe's application for the award to be annulled.
• Counsel to a UK investor in respect of an investment dispute with Montenegro arising from alleged breaches of a bilateral investment treaty and domestic foreign investment legislation. Concerned investment in an upstream oil and gas project. Medusa (Montenegro) Ltd v. The State of Montenegro. UNCITRAL arbitration. PCA Case No. 2015-39. The outcome is confidential. 
• Lead counsel to Italian investors in respect of an investment dispute with the Tanzanian Government arising from breaches of a bilateral investment treaty. Concerned investment in an agriculture project. Sunlodges Ltd and Sunlodges (T) Limited v. The United Republic of Tanzania. UNCITRAL arbitration. PCA Case No. 2018-9. Award in favor of our clients, and paid following Steptoe-led enforcement action. 
• Co-counsel to thirteen investors in a dispute with The Republic of Zimbabwe arising from breaches of a bilateral investment treaty. Funnekotter v. The Republic of Zimbabwe. ICSID arbitration. Case No. ARB/05/6. Our clients were awarded €8.22 million in damages, plus their arbitration costs and interest.
• Lead co-counsel (from 10 September 2008) to an investor in respect of an investment dispute arising from alleged breaches of a bilateral investment treaty. Trans-Global Petroleum Inc v. The Hashemite Kingdom of Jordan. ICSID arbitration. ICSID Case No. ARB/07/25. Case settled.

• Counsel to an investor in respect of the enforcement of a US$130 million ICSID award, which was the largest award ever issued to an individual. Enforcement proceedings. Waguih Elie George Siag and Clorinda Vecchi v Arab Republic of Egypt. ICSID arbitration. ICSID Case No. ARB/05/15. We succeeded in having the award recognized in England and enforcing against assets worth US$70 million. 

• Lead counsel to a US investor in respect of an investment dispute with Turkey arising from alleged breaches of a bilateral investment treaty. Motorola Credit Corporation, Inc v. Republic of Turkey. ICSID arbitration. ICSID Case No. ARB/04/21. Case settled for $1 billion in our client’s favor. 
• Lead counsel to an investor in respect of an investment dispute with Mexico arising from alleged breaches of the NAFTA. Included separate NAFTA consolidation proceedings brought by Mexico. Client awarded what was at the time the largest award to be issued in a NAFTA arbitration. Corn Products International Inc. v. Mexico. ICSID arbitration. ICSID Case No. ARB (AF)/04/1.

• Lead counsel to a Canadian investor in relation to a multi-billion dollar investment dispute with the United States under the NAFTA. Part of a broad litigation strategy encompassing other Steptoe teams. Dispute resolved in our client's favor.

• Counsel to the insurers of a UK investor in respect of an investment dispute with Jordan arising from alleged breaches of a bilateral investment treaty. Case settled in our client's favor.

Further, by way of illustration of Steptoe's recent experience advising States on investor-State treaty matters, we have or are:

• Engaged by several States to advise on their investment treaty negotiations, including (most recently) negotiations with the European Union.

• Been appointed by the Government of the People's Republic of China to the panel of law firms that will be instructed to defend China in investor-State disputes.

• External advisor to Canada in relation to its defense of a claim brought under the NAFTA by the United Parcel Service of America. United Parcel Service of America v. The Government of Canada. UNCITRAL arbitration. ICSID Case No. UNCT/02/1. Canada was successful in defending UPS’s claims, which were for damages of over $160 million, in their entirety. 
• External advisor to Canada in a NAFTA Chapter Eleven dispute involving claims of expropriation, national treatment and minimum standard of treatment violations in relation to the imposition of a ban on the pesticide Lindane. Chemtura (Crompton) v. Government of Canada. UNCITRAL arbitration. PCA Case No. 2008-01. Claims dismissed entirely with costs to the State.

• Advised the Government of Canada in connection with the negotiation of the Canada-United States Free Trade Agreement.

In addition to our work as counsel, our experience acting as an arbitrator in investor-State arbitrations includes:

• Serving as President of the Tribunal in Jochem Bernard Buse v Republic of Panama. ICSID arbitration. ICSID Case No. ARB/17/12.

• Serving as President of the Tribunal in UniCredit Bank Austria AG and Zagrebačka Banka dd v Republic of Croatia. ICSID arbitration. ICSID Case No. ARB/16/31. 

• Serving as a Member of the Annulment Committee in Capital Financial Holdings Luxembourg SA v Republic of Cameroon. ICSID arbitration. ICSID Case No. ARB/15/18. 

• Served as President of the Annulment Committee in Edenred SA v Hungary (resigned September 2018). ICSID arbitration. ICSID Case No. ARB/13/21.

• Served as a Member of the Tribunal in The Canadian Cattlemen for Fair Trade v United States of America. UNCITRAL arbitration.

Since claims under bilateral and multilateral investment treaties are governed by public international law, our broad range of experience in public international law is also relevant to our work on investment treaty arbitrations. In particular, Steptoe is widely recognized as one of the premier international law firms advising clients on matters before the World Trade Organization and has represented several States on such matters.