ICSID Rejects Latvian Snow Crab Investors’ Claims Against Norway

Mealey's (January 22, 2024, 7:38 AM EST) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Jan. 18 published an arbitral tribunal’s award dismissing all claims brought by Latvian investors in the snow crab industry against the Kingdom of Norway for allegedly harming their investment by banning them from fishing for Norwegian crab and ordered the investors to pay nearly $600,000 in arbitration costs and more than 800,000 euros to Norway in attorney fees....