MEXICO ENERGY ALERT: Recent Regulatory Measures Impacting the Oil & Gas Sector

During the first half of May 2021, the Mexican government passed a controversial amendment of Mexico’s Hydrocarbons Law and revoked over a hundred oil and gas marketing permits. These measures are part President Andrés Manuel López Obrador (“AMLO“)’s plan to reverse the energy reforms introduced by former President Enrique Peña Nieto in 2013, which liberalized … Read more

New Developments in Relation to the Legal Representation of Venezuela in International Proceedings

On 23 January 2019, after Nicolas Maduro began his second term as Venezuela’s president, the Venezuelan opposition leader Juan Guaidó proclaimed himself Venezuela’s “acting president” and swore himself as interim president of Venezuela.  Following Guaidó’s declaration, more than 50 countries, including the United States, Canada, several EU Member States, and various Latin American countries, recognized … Read more

MEXICO ENERGY ALERT: Initiative to Radically Change Mexico’s Electric Power Industry

On February 1, 2021, Mexican President Andrés Manuel Lopez Obrador submitted to Congress an initiative (the “Initiative”) to amend the Electric Power Industry Law. The Initiative appears to be part of the current administration’s plan to reverse the Energy Reform introduced by former president Enrique Peña Nieto in 2013 (“the Energy Reform”) that liberalized the … Read more

BOLIVIA RATIFIES THE MAURITIUS CONVENTION ON TRANSPARENCY IN INVESTOR-STATE ARBITRATION

Bolivia has become the seventh state to ratify the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration, also known as the “Mauritius Convention”. State parties to the Mauritius Convention commit to greater transparency in investor-state dispute settlement (ISDS) proceedings. Specifically, by ratifying the Mauritius Convention, Bolivia consents to extend the application of the UNCITRAL … Read more

Venezuela Update: Summer of Sanctions Sees Continuation of US Maximum Pressure Campaign in Venezuela

As the United States continues its “maximum pressure” campaign on the Maduro regime in Venezuela, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) has added 32 additional individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) and Blocked Person List, from June to September 2020. The campaign is designed to cut … Read more

Is Arbitration in Venezuela in Danger?

Recently, the Constitutional Chamber of the Venezuelan Supreme Court of Justice (the “Court”) issued an interlocutory judgment ordering the Business Center for Conciliation and Arbitration (CEDCA) to stay an arbitration and to forward the arbitration file in order to decide on a request for “avocamiento” filed by one of the parties before the Court. This … Read more

Peru Approves Abritration Reform on Disputes Involving State Entities

On January 24, 2020, the Executive Branch of Peru approved the Emergency Decree No. 020-2020 (“Emergency Decree”), introducing amendments to the rules on international and domestic arbitration contained in Legislative Decree No. 1071 (“Peruvian Arbitration Law”). Interestingly, the modifications provided by the Emergency Decree only concern arbitration proceedings in which the State is involved as a party, apparently as … Read more

ICSID’S LONGEST RUNNING DISPUTE: TRIBUNAL DISMISSES APPLICATION FOR ANNULMENT OF RESUBMISSION AWARD

An ad hoc committee (the “Resubmission Committee“) has recently dismissed the claimants’ application to annul a resubmission award issued in September 2016 (and subsequently rectified) in Victor Pey Casado and President Allende Foundation v Republic of Chile (ICSID Case No. ARB/98/2), the longest dispute in the history of the International Centre for Settlement of Investment Disputes (“ICSID“). The award … Read more

SPANISH COURT DECISION FOLLOWING END OF SUSPENSION OF THE US HELMS-BURTON ACT: JURISDICTION DECLINED IN CLAIM CONCERNING ASSETS NATIONALIZED BY CUBA

The decision recently delivered in the case Central Santa Lucia L.C. v. Meliá Hotels International S.A., brought before the First Instance Court of Palma de Mallorca (the “Decision”), is one of the first rendered by a European court concerning confiscated property in Cuba after the end of suspension of Title III of the Libertad Act (“Helms-Burton Act”) … Read more