News

Law360 reports on Teco Guatemala Holdings LLC v. Republic of Guatemala. Represented by GST LLP, Guatemala filed an emergency motion to nix a freezing order on nearly $16 million being held by Bank of New York Mellon as a Teco Energy subsidiary tries to enforce a $35 million arbitral award. According to GST, "because of Teco's flawed legal strategy, the funds that were intended to satisfy Guatemala's bond obligations are currently restrained at [BNY Mellon]. And while Guatemala no longer owns or possesses those funds, the bondholders may very well declare a default on the bonds and cause grave financial consequences for the state."

The Commercial Court in London has requested further details pertaining to a partial ICC award won by an Australian mining venture against Pakistan as corruption allegations continue to be invoked. Christopher Hancock QC of Twenty Essex chamber appeared on behalf of Balochistan, while GST LLP acted for the provincial government there and as co-counsel for Pakistan.

In response to an announcement by Peruvian officials that they may suspend the collection of toll fees on the country’s roads, an emergency measure in response to Covid-19, Pablo Mori of GST LLP warns that Peru may be in breach of international law. He exhorts states to be cautious, and to “take measures aimed at protecting human life or health,” as long as they are not arbitrary or discriminatory. For example, toll investors in Peru include a subsidiary of France’s Vinci Highways, which is currently bringing a contractual claim against the Metropolitan Municipality of Lima at the International Arbitration Chamber of Paris. Mori draws on his experience navigating the legal fallout from Argentina’s financial crisis, and he notes that many contracts have ICSID clauses, and that this is common in Peru.

GST LLP participated in a claim filed on behalf of an individual confined in Miami’s Metro West Detention Center who suffers multiple illnesses that make him especially vulnerable to the Covid-19 virus. Their work was instrumental in obtaining a judge’s temporary restraining order against the Dade Corrections and Rehabilitation Department.

GST LLP participated in a claim filed on behalf of an individual confined in Miami’s Metro West Detention Center who suffers multiple illnesses that make him especially vulnerable to the Covid-19 virus. Their work was instrumental in obtaining a judge’s temporary restraining order against the Dade Corrections and Rehabilitation Department.

Venezuelan opposition leader Juan Guaidó has failed to persuade a US court to stay the enforcement of an ICSID award worth over US$400 million – after the court said it “may take years” to stabilize the country and transition to another political regime. Lawyers from Curtis Mallet-Prevost Colt & Mosle are acting on behalf of Guaidó; Venezuelan President Nicolás Maduro is represented by GST LLP.

Pakistan, represented by GST LLP, negotiates a settlement with a Turkish energy company which will avoid their paying any part of an ICSID award worth US$1 billion.

GST LLP is pleased with an apparent settlement and termination of litigation between Pakistan and Turkey achieved by the two governments over a dispute regarding the lease of floating power plants by Turkish company Karkey to Pakistan during an energy crisis in 2006

Global Arbitration Review 100 reports on GST’s recent activities, which include the defense of Venezuela concerning claims by US shipbuilder Huntington Ingalls, Luis Garcia Armas food distribution business, a Caribbean oil services company and a Spanish agricultural conglomerate. GST is also defending Venezuela by seeking annulments of awards to the US based Koch Brothers and steelmaker Tenaris, while responding to actions by creditors in United States Courts.

An ICC tribunal has allowed India’s Jindal Steel & Power company’s claim to proceed against a Bolivian state-owned mining entity while discarding claims against the state itself and another state-owned entity. Ultimately, the tribunal allowed contractual claims against state-owned Empresa Siderúrigica del Mutún (ESM) to proceed, with GST LLP as counsel.

GST LLP argues that Pakistan was deprived of its due process in proceedings awarding Turkish energy company Karkey an award of nearly US$846 million. They assert that documents proving corruption were refused consideration by the ICSID tribunal.

Global Arbitration Review 100 provides an organizational history of GST LLP, originally established by Quinn Smith and Mauricio Gomm Santos in 2009 and currently operating in Miami, New York and Washington, DC. Outlining the arrival of key counsels Diego Gosis and Ignacio Torterola, the article lists State governments, manufacturing firms, mining companies and investment banks that have utilized GST LLP services.

Failure to disclose conflicts of interest have led to a bid by Pakistan to disqualify all three members of an ICSID tribunal from hearing a claim brought by Tethyan Copper Company. GST LLP shares that it has documentation indicating that Bulgarian arbitrator Stanimir Alexandrov provided expert services in which a particular cash flow valuation calculation method was used.