DP World Limited v Kingdom of Belgium - ICSID Case No. ARB/17/21 - Press Release Antwerp-Bruges Port Authority - BIT DP World PLC vs Kingdom of Belgium - final ruling - 16 February 2024
Country
Year
2024
Summary
Antwerp-Bruges Port Authority has taken note of the final ruling by the Arbitration Tribunal of the International Centre for Settlement of Investment Disputes (ICSID) on the investment dispute between DP World PLC and the Kingdom of Belgium.
The Tribunal only partially followed Belgium's position in these proceedings. The dispute revolved around the Antwerp Port Authority's decision to take back an (unused) part of the concession of Antwerp Gateway (subsidiary of DP World PLC) in 2014, which constitutes a so-called partial 'expropriation' ('repossession of an investment') of this concession agreement within the meaning of the Investment Treaty (BIT) between the Belgian Luxembourg Economic Union ('BLEU') and the United Arab Emirates ('UAE').
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