Can a State claim expropriation under a BIT following the successful enforcement of a foreign (commercial) award against its assets abroad? - The Paris Court of Appeal judgment of 18 November 2010 in Région de Kaliningrad (Russie) v Lituanie
Article from: TDM 2 (2011), in Case Comments & Awards
This case presents the interesting and (at least to my knowledge) unprecedented question of whether a claim in expropriation lies in favour of a State whose assets were seized and sold in satisfaction of a (commercial) New York Convention award against the State where the assets are located. In this case, Duke Investments Ltd, hailing from Cyprus, secured in 2004 an LCIA award in its favour against the Region of Kaliningrad (Russian territorial collectivity) for the reimbursement of a debt. In 2006, Duke obtained the enforcement of the award against assets belonging ...