Plaintiff Compensated For Losses Incurred In Burundian Real Estate Dispute
(April 25, 2016, 10:10 AM EDT) -- WASHINGTON, D.C. — An international arbitration tribunal on Jan. 12 determined that the Republic of Burundi violated two articles of a bilateral investment treaty and awarded a plaintiff more than $200,000 in compensation for losses incurred as a result of a real estate property dispute in Burundi (Joseph Houben v. The Republic of Burundi, No. ARB 13/7, ICSID).
(Award in French available. Document #05-160426-044A.)
The arbitration concerns a dispute under Article 8(3) of the Convention between the Economic Union Belgo Luxembourg and the Republic of Burundi,...