Derains & Gharavi defies Ukraine’s annulment application against the ICSID Award in favour of Joseph Charles Lemire

Derains & Gharavi obtained on July 8, 2013, a Decision (ICSID Case No. ARB/06/18) dismissing Ukraine’s application for annulment of the Award rendered on March 28, 2011 in favour of Mr. Joseph Charles Lemire. The firm had successfully represented Mr. Lemire, a US investor, in the underlying ICSID Arbitration initiated on the basis of a bilateral investment treaty for unfair and inequitable treatment and discrimination re. his investment in the radio industry, which had led to a favourable Decision on Jurisdiction and Liability followed by a favourable Award for 10 million USD with interests and partial legal costs. It was the first international award holding a State liable for breach of international law in relation to tenders, namely in the case at hand for the award of frequencies in the radio industry.