Global law firm and new CBI member Dentons has secured a landmark win for the People’s Republic of China, represented by the Ministry of Commerce of People’s Republic of China, at the very beginning of its first investment treaty arbitration proceeding.
On 9 March, an ICSID arbitration tribunal dismissed all claims against China in the case of Ansung Housing Co. Ltd. v. People's Republic of China (ICSID Case No. ARB/14/25) regarding a property development project.
The tribunal recognized the claims as manifestly without legal merit, and awarded China legal costs and post-award interest. The tribunal based the dismissal on the treaty’s requirement that any claim be brought within 3 years of the claimant’s first knowledge of loss. China applied for dismissal of the claim shortly after the arbitral tribunal was constituted in September 2016.
The application for dismissal was heard in December 2016, at the first meeting between the tribunal and the parties. After hearing the parties’ arguments, the tribunal announced at the hearing that it had decided to dismiss all claims.
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