Foley Hoag obtained a victory for the Republic of Uzbekistan before the Paris Court of Appeal
May 14, 2019
In its decision dated 14 May 2019, the Paris Court of Appeal ruled in favour of the Republic of Uzbekistan, dismissing the action to set aside the arbitral award brought by English company Oxus Gold.
Oxus Gold initiated arbitration proceedings against the Republic of Uzbekistan, alleging that its investments in two mining projects had been subject to creeping expropriation. Oxus Gold also alleged the State of violating other obligations under the treaty on the promotion and protection of investments concluded with the United Kingdom.
In the award rendered in Paris on 17 December 2015, the arbitral tribunal rejected the majority of Oxus Gold's claims for compensation (in total amounting to US$1.3 billion) and limited in ordering the Republic of Uzbekistan to pay an amount of US$10.3 million. Oxus Gold apply for set aside this arbitral award before the Paris Court of Appeal.
In its decision dated 14 May 2019, the Court ruled in favour of the Republic of Uzbekistan, thus rejecting Oxus Gold's attempt to reinstate its US$1.3 billion claim, and awarded substantial procedural damages to the Republic of Uzbekistan (€300,000).
The team that represented the Republic of Uzbekistan before the Paris Court of Appeal was composed of Andrea Pinna, partner and Head of International Litigation and Arbitration department of Foley Hoag’s office in Paris, Anne-Fleur Dory, associate in Paris, and their colleagues at White & Case law firm in Washington and Paris.