Chinese firm takes Trinidad and Tobago Government to arbitration over steel investment project

A Chinese state-owned investor in a steel project has brought a claim against TT to the International Center for Settlement of Investment Disputes (ICSID) – the first of its kind in over 20 years. It is not yet clear which steel investment project has caused the dispute.

The China Machinery Engineering Corporation registered a request for the institution of arbitration proceedings last Thursday.

International law firm Clifford Chance represents the Chinese-based company while Attorney General Reginald Armour, Director of Legal at the AG’s office Tenille Ramkissoon and international law firm Charles Russel Speechlys, based in London, represents TT.

A 2002 agreement between the company and the State indicated that settlement of disputes between a contracting party and the investor of another contracting party may go to the ICSID as one of the many means of arbitration in the event of a dispute.

“In the event of an investment dispute, the Parties to the investment dispute should initially seek a resolution through consultation and negotiation,” the agreement said.

"If the investment dispute cannot be settled amicably within six months from the date of written notification of a claim, the investor that is a party to an investment dispute may submit the investment dispute for resolution.”