Cleary Gottlieb is currently representing or has represented no fewer than 13 sovereigns or sovereign instrumentalities from around the world -- including Argentina, Russia, the Dominican Republic, Nicaragua, Ecuador, Mexico, Belgium, Gibraltar, the Republic of the Congo, Slovenia, Japan, Indonesia and Iraq -- as well as several of the world’s leading multinational corporations and financial institutions in international litigation and arbitration matters involving public international law. Our team has frequently been involved in state-to-state disputes and disputes involving international organizations. For example, we represented Japan in the Southern Bluefin Tuna Case brought by Australia and New Zealand under the United Nations Convention on the Law of the Sea, and have represented the Bank for International Settlements in various litigation and arbitration matters. We have also represented respondent states in proceedings brought before the European Court of Human Rights.

The firm also has significant experience in investor-state arbitration, both as investors’ and states’ counsel. We represent claimants all over the world and in a wide variety of sectors, including telecommunications, energy, oil and gas, gaming and shipping, to name a few. The team’s partners represent clients before arbitral panels constituted under the aegis of the International Centre for Settlement of Investment Disputes (ICSID), the International Chamber of Commerce (ICC), the Stockholm Chamber of Commerce (SCC), and the London Court of International Arbitration (LCIA), among others.

Our recent practice highlights include:

Investment Treaty Arbitration

Counsel to OAO Tatneft in an UNCITRAL arbitration against Ukraine under the Ukraine - Russia bilateral investment treaty regarding the illegal seizure of an oil refinery.

Counsel to E.T.I. Euro Telecom International N.V. in an ICSID arbitration against Bolivia for breach of the Netherlands-Bolivia bilateral investment treaty. This ICSID arbitration was discontinued when the parties agreed to substitute an UNCITRAL arbitration proceeding.

Counsel to E.T.I. Euro Telecom International N.V. in the UNCITRAL arbitration against Bolivia for breach of the Netherlands-Bolivia bilateral investment treaty.

Counsel to the Russian Federation in three parallel arbitrations under UNCITRAL Rules in The Hague commenced by one Isle of Man and two Cyprus companies, in their capacities as former shareholders of Yukos Oil Company, alleging unfair treatment and expropriation in violation of the investment provisions of the Energy Charter Treaty and damages totaling more than $100 billion.

Counsel to the Russian Federation in an arbitration under the Stockholm Chamber of Commerce Rules initiated by RosInvestCo, a former Yukos minority shareholder, against the Russian Federation alleging expropriation under the UK – Soviet bilateral investment treaty.

Counsel to the Republic of Argentina, together with the Procuración del Tesoro de la República Argentina, in claims brought at ICSID under the Argentina-Italy bilateral investment treaty by holders of interests under multiple Argentine bonds. The claims allege unfair and discriminatory treatment and expropriation and seek billions of dollars in damages. This is the first attempt to pursue a mass claim – more than 190,000 claimants in a single proceeding – in an ICSID arbitration and also involves a novel attempt to use investment treaty arbitration to challenge a sovereign bond default and debt restructuring. Our firm was also retained to join the Procuración in defending against two subsequently filed group claims concerning bond defaults.

State Succession/Human Rights

Counsel to the Republic of Slovenia in proceedings initiated by Bosnian individuals against the successor States to the Socialist Federal Republic of Yugoslavia before the European Court of Human Rights relating to the successor States’ succession to and liability for the Socialist Federal Republic of Yugoslavia’s guarantee of foreign-currency deposits. The Firm has previously obtained a dismissal of similar proceedings before the Grand Chamber of the European Court of Human Rights.

State Immunity

Counsel to the Republic of Argentina in numerous litigations brought in the United States, Austria, France, Germany, Belgium and Italy by bondholders affected by Argentina’s default with respect to approximately $100 billion in external indebtedness, including unsuccessful attempts by such bondholders to attach assets belonging to the Republic of Argentina in the United States and Europe and attempts by them to interfere with Argentina’s restructuring of that indebtedness.

UN Security Council Sanctions

Counsel to the Republic of Iraq in the successful dismissal of an arbitration initiated by a German state-owned company under the Austrian Chamber of Commerce Rules concerning claims under financial arrangements in violation of the financial sanctions imposed by the UN Security Council on the Saddam Hussein regime.

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