Squire Patton Boggs has successfully defended the Republic of Estonia against a USD 100 million investment treaty claim brought under the Netherlands-Estonia Bilateral Investment Treaty by Estonian water provider AS Tallinna Vesi and its Dutch shareholder United Utilities B.V., over the state’s refusal to allow an annual increase in water tariffs.
In an award issued on June 21, 2019, the ICSID arbitration tribunal dismissed all claims brought against the Republic of Estonia and ordered the claimant to pay more than USD 750,000 to Estonia for fees and costs it incurred in defending the claim.
The Squire Patton Boggs team was led by Paris and Prague Partner Rostislav Pekar, Berlin Partner Eveli Lume, Frankfurt Partner Horst Daniel, New York Partner Luka Misetic, Prague Partner Maria Polakova, as well as Frankfurt Associate Ariane Sproedt, and Prague Associates Matej Pustay and David Seidl.
