Peteris Pildegovics and SIA North Star v Kingdom of Norway - ICSID Case No. ARB/20/11 - Award - 22 December 2023
Country
Year
2023
Summary
Case Report (free download)
Case Report by Riva Gjecaj, Editor Ignacio Torterola
Summary
This arbitration arose from a dispute between Latvian investors Mr. Peteris Pildegovics, a natural person, and North Star SIA, a company (the "Claimants"), and the Kingdom of Norway ("Norway" or the "Respondent") (collectively referred to as the "Parties") on the basis of the Agreement Between the Government of the Kingdom of Norway and the Government of the Republic of Latvia on the Mutual Promotion and Protection of Investments (the "BIT"). The Claimants argued that the Respondent's alleged restriction of the fishing of snow crab in certain zones over which Norway exercises certain sovereign rights, undermined the Claimants' investments in snow crab fishing thereby resulting in a loss of their investment.
Case report provided by International Arbitration Case Law (IACL)
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