Investment Arbitration
We represent sovereign States, state-owned entities, and foreign investors in investment arbitrations arising under bilateral investment treaties, free trade agreements and investment contracts. Our practice is grounded in public international law and our team is among the very few globally with hands-on experience in multiple ICSID arbitrations, involving a cumulative amount in dispute measured in the billions of US dollars, across a wide range of economic sectors and jurisdictions. We combine technical mastery of international investment law with pragmatic dispute strategy in matters involving political sensitivity, regulatory complexity and significant financial exposure.
Representation of States, state-owned entities and foreign investors in investment arbitrations conducted under ICSID, ICSID Additional Facility, UNCITRAL and other applicable rules. We advise on the full lifecycle of investment disputes — from early exposure analysis and pre-arbitral strategy through written submissions, hearings and post-award proceedings. Our team brings direct, hands-on experience from multiple ICSID arbitrations spanning diverse sectors and jurisdictions, at a scale of exposure that very few practices can match.
Representation in investment arbitrations arising from complex, capital-intensive industries including mining, oil and gas, energy, petrochemicals, construction and infrastructure. We advise on industry-specific legal issues — including regulatory changes affecting concessions, licensing revocations, offtake and supply disruptions, and government interference with project operations — and coordinate with technical, financial and industry experts throughout the proceedings.
Strategic advice and written advocacy on jurisdictional and admissibility challenges in investment arbitrations, including challenges to tribunal competence, definition of protected investment and investor, most-favored-nation clauses as a basis for jurisdictional expansion, fork-in-the-road provisions, waiting period requirements and the temporal scope of treaty protection. We advise both claimants and respondent States on the design and litigation of jurisdictional strategy at the preliminary objections stage.
Substantive representation on the full range of investment treaty standards, including direct and indirect expropriation, fair and equitable treatment (FET), full protection and security (FPS), most-favored-nation (MFN) treatment, national treatment and umbrella clause claims. We advise on the legal and factual development of merits arguments, the management of regulatory and legislative defense strategies for States, and the construction of investor claims arising from government conduct across economic sectors.
Strategic advice on damages methodology and quantum in large-scale investment disputes, including DCF valuation, book value and liquidation approaches, lost profits analysis and the treatment of sunk costs. We advise on the selection and briefing of quantum experts, the litigation of competing valuation methodologies before investment tribunals, and the alignment of damages strategy with overall case theory and settlement positioning.
Representation in ICSID annulment proceedings and equivalent post-award challenge mechanisms under other arbitral rules. We advise on grounds for annulment — including manifest excess of powers, failure to state reasons and serious departure from fundamental rules of procedure — and design post-award strategies that account for the interaction between annulment, enforcement and settlement processes.
Counsel and representation on the enforcement and execution of investment arbitration awards under the ICSID Convention, the New York Convention and applicable domestic law. We advise on recognition proceedings before domestic courts, sovereign immunity defenses and waivers, asset identification and attachment strategies, and the design of integrated enforcement plans across multiple jurisdictions.
Strategic management of parallel proceedings involving simultaneous or sequential claims before domestic courts and international arbitral tribunals. We advise on the coordination of litigation strategy across fora, the management of fork-in-the-road and waiver risks, the use of domestic proceedings to preserve evidence and obtain interim relief, and the alignment of parallel legal strategies to achieve coherent outcomes across all fronts.