Squire Patton Boggs has secured a total victory for the Slovak Republic in an investment treaty claim originally worth US$2.11 billion, the fourth consecutive win achieved for the client.
The claim, Discovery Global LLC v Slovak Republic was brought by US oil and gas company Discovery Global under the US-Slovakia bilateral investment treaty. Having acquired licenses for oil and gas exploration in eastern Slovakia, Discovery Global alleged that the government had effectively sabotaged the project through its failure to stop environmental protestors blocking access to well sites, and by requiring a full environment impact assessment under Slovak law.
The tribunal dismissed the case in its entirety and also awarded the Slovak Republic the majority of its costs. The Slovak Republic remains one of the few countries in the world that has not lost in international investment arbitration and has not been ordered to pay any compensation of damages to the claimants.
The Squire Patton Boggs team was led by International Dispute Resolution partner Stephen Anway, and included Rostislav Pekař, Dave Alexander, Tatiana Prokopová, Douglas Pilawa, Jakub Kamenický, Eva Dragúňová, and Christina Luo.
Other wins achieved by Squire Patton Boggs for the Slovak Republic include Spółdzielnia Pracy “Muszynianka,” Eurogas and Achmea II.