Water Utility's $100M Claim Against Estonia Gets Nixed
Law360 (June 24, 2019, 6:15 PM EDT) -- Estonia has fended off a $100 million arbitration initiated by Estonian water provider AS Tallinna Vesi and its Dutch shareholder over the country's refusal to permit an annual increase in water tariffs.
An International Centre for Settlement of Investment Disputes tribunal on Friday rejected the claims asserted by AS Tallinna Vesi and United Utilities (Tallinn) BV, and it ordered the companies to pay around $750,000 to the country in costs and fees. The exact amount is yet to be determined, Tallinna Vesi said in a company announcement on Saturday.
Tallinna Vesi and United Utilities alleged in the arbitration that Estonia had...
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