Related Practices
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For more than 50 years, Covington has served as counsel to private companies and foreign states on issues concerning foreign direct investment, primarily in other countries but also in the United States. A major component of this practice has been the representation of private investors and foreign states in investor-state international arbitration. This practice also extends to litigation of investment disputes in domestic courts and the resolution of such disputes through conciliation and negotiation.
Our practice draws upon the firm’s deep experience in litigation, international arbitration, and alternative dispute resolution and its long-standing expertise in public international law. In matters related to investment disputes, we have appeared on behalf of both investors and foreign governments in a variety of forums, including the International Centre for Settlement of Investment Disputes (ICSID), the Iran-US Claims Tribunal, the United Nations Compensation Commission, arbitral tribunals established under the rules of the International Chamber of Commerce, ad hoc arbitral tribunals including those established under the UNCITRAL Rules, and the courts of the US. Together with local counsel, we have advised clients on the strategic aspects of litigation in foreign courts concerning investment disputes.
We have also advised and represented clients concerning complex issues of public international law arising under the ICSID Convention, bilateral investment treaties (BITs), Chapter 11 of the North American Free Trade Agreement, and investment-guaranty-insurance programs of the US (OPIC) and other governments.
Several of our senior lawyers are active in our practice concerning investor-state disputes. Stuart Eizenstat, our most senior partner counseling clients on resolution of investment disputes through negotiation, was US Ambassador to the European Union from 1993 to 1996, and has also served as Deputy Treasury Secretary, Under Secretary of State for Economic, Business and Agricultural Affairs and Under Secretary of Commerce for International Trade.
Covington partners serve on outside panels of advisors to the US government on trade and investment policy and on industry advisory groups that assist the US government in determining investment policy for the negotiation of BITs, bilateral free-trade agreements, the proposed Free Trade Agreement of the Americas Agreement (FTAA), and the investment-related proposals that are being developed in connection with the Doha round of negotiations. Our partners teach international law and foreign investment law, participate in international legal organizations, and speak and publish articles on subjects related to foreign direct investment and investment disputes.
Representative Matters
- Representing the claimants in Rail World Estonia LLC et al. v. Republic of Estonia (ICSID Case No. ARB/06/06).
- Representing the claimants in MTD Capital Sdn. Bhd. et al. v. Republic of Chile (ICSID Case No. ARB/01/07) and annulment proceedings following a favorable award.
- Representing the claimants in LG&E Energy Corp. et al. v. Argentine Republic (ICSID Case No. ARB/02/1).
- Representing the respondent in JacobsGibb Limited v. Hashemite Kingdom of Jordan (ICSID Case No. ARB/02/12).
- Advising clients in the evaluation and preparation of claims under bilateral investment treaties.
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