jgrabner
17 Oct 2017
News / US Investor seeks 700 million dollars in damages from Poland [45]
yes, the FT is reporting the same figure today: ft.com/content/a26dda50-af3b-11e7-aab9-abaa44b1e130
but also in this piece, it says: "Michael Polsky, the founder and chief executive of Invenergy, said the dispute had now been raging "for three-plus years".", meaning that they "have exhausted [their] commercial and legal remedies in the country" and are now sueing the current goverment for actions that were undertaken during the previous government. Since the termination of the SPVs had something to do with falling energy prices, 2014 sounds like a reasonable timeframe because mid of 2014 we had the big oil price drop and with it came also a downturn in wholesale electricity prices.
for this reason, the BITs usually open the door for independent courts, also in the PL-USA BIT:
investmentpolicyhub.unctad.org/Download/TreatyFile/5339
In general, nothing can be inferred just from the plaintiff complaining. It is currently just that: a "media offensive". It is up to the courts to decide whether the case has any merits.
The case I referred to is a separate action against the present government and is for the amount of 700 million dollars.
yes, the FT is reporting the same figure today: ft.com/content/a26dda50-af3b-11e7-aab9-abaa44b1e130
but also in this piece, it says: "Michael Polsky, the founder and chief executive of Invenergy, said the dispute had now been raging "for three-plus years".", meaning that they "have exhausted [their] commercial and legal remedies in the country" and are now sueing the current goverment for actions that were undertaken during the previous government. Since the termination of the SPVs had something to do with falling energy prices, 2014 sounds like a reasonable timeframe because mid of 2014 we had the big oil price drop and with it came also a downturn in wholesale electricity prices.
corrupt judges who take bribes
for this reason, the BITs usually open the door for independent courts, also in the PL-USA BIT:
An investor may take a dispute with a Party directly to binding third-party arbitration without first resorting to domestic courts.
investmentpolicyhub.unctad.org/Download/TreatyFile/5339
In general, nothing can be inferred just from the plaintiff complaining. It is currently just that: a "media offensive". It is up to the courts to decide whether the case has any merits.