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Squire Patton Boggs Successful for Republic of Estonia in USD 100 Million Investment Dispute

Squire Patton Boggs Successful for Republic of Estonia in USD 100 Million Investment Dispute

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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.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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