Chapman Tripp acts in first ever bilateral investment treaty hearing held in New Zealand

Profession:Chapman Tripp
 
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Leading New Zealand law firm Chapman Tripp, acting as co-counsel with international law firm Salans, have secured a successful decision in the first ever bilateral investment treaty arbitration hearing held in New Zealand.

Chapman Tripp Partner Daniel Kalderimis and Salans Partner George Burn were successful in overcoming an attempt by the Republic of Indonesia to terminate a compensation claim brought by a British investor, Mr Rafat Rizvi, before an International Centre for Settlement of Investment Disputes (ICSID) arbitration tribunal. Indonesia's application was made under Rule 41(5) of the ICSID Arbitration Rules, which allows arbitrators to summarily terminate an arbitration where the claim is manifestly without legal merit.

Mr Rizvi claims that Indonesia failed to ensure fair and equitable treatment of his investment when the country nationalised one of its largest banks, Bank Century (now called Bank Mutiara), in 2008, and that it brought unjustified and...

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