Herbert Smith Freehills’ Response to EU Consultation: the Future of Investor-State Dispute Settlement

As discussed in our blog post here, on 21 December 2016 the EU Commission launched a public consultation on the multilateral reform of the investment dispute settlement system. The consultation closed on 15 March 2017 with a full report of the responses anticipated later this year. Herbert Smith Freehills has submitted a position paper to the Commission in response … Read more

Argentina cannot evade payments under its government bonds: German Court rejects suggestion of a general rule of international public law obliging all creditors to participate in debt restructuring with states in economic crisis

On 24 February 2015, the German Federal Court of Justice (“Bundesgerichtshof“) handed down two judgements which could have a significant impact on holders of government bonds. The Federal Court of Justice held that the Argentine Republic cannot refuse payment to private creditors under its government bonds (“Inhaberschuldverschreibung“) by invoking state necessity due to inability to … Read more

The Law of State Responsibility: University’s conduct not attributable to Ukraine

In an Award on jurisdiction and liability published on 25 October 2012, an ICSID Tribunal dismissed the claims brought by US investors Bosh International, Inc and B&P Ltd Foreign Investments Enterprise (“Bosh International“) for breach of the US-Ukraine BIT (the “BIT“). The claims against Ukraine were based on the Taras Shevchenko National University of Kiev … Read more