CDR Magazine quotes Simon Le Wita on the Keystone XL pipeline ICSID arbitration
The dispute over the cancelled Keystone XL pipeline continues, with the US disclaiming liability under an amended multilateral treaty.
Alberta Petroleum Marketing Commission (APMC) filed a claim against the US, following TC Energy's failed USD 15 billion arbitration. TC Energy's claim was dismissed due to lack of jurisdiction, despite dissenting opinions.
APMC now seeks CAD 1.3 billion under UNCITRAL rules, with the US contesting jurisdiction and the claimant's prior sale of interest.
CDR Magazine speaks to Simon Le Wita, Partner in the International Arbitration team on the case and the reporter asks:
So does the saga show that even close neighbours with a common language, culture and history are not immune to investment disputes?
Simon Le Wita, comments:
I don’t think cultural proximity has a direct impact on proceedings per se. What would have an impact is the geo-political relationship between two countries because there could easily be another way to increase pressure on a party […which could] stall or even fast-track proceedings.
Read the full piece in CDR Magazine here.
