By Victoria McKenzie (January 19, 2022, 7:51 PM EST) -- Switzerland has escaped a $300 million real estate claim filed on behalf of three Italian investors who said the government and national bank took actions that devalued their properties.
On Wednesday, the International Centre for Settlement of Investment Disputes discontinued a dispute filed in 2020 by Seychelles-based Human Rights Defenders Inc., as assignee of Natale Palazzo, Rodolfo Scodeller and Antonio Basile, for failure to cover arbitrators' per diem costs.
Human Rights Defenders filed notice of the claim in 2019, arguing that Switzerland intentionally set out to devalue property and obstruct real estate development with a 1989 federal decree that retroactively banned...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!