March 2016 – Global Arbitration Review (GAR) has reported on the resolution of an investment treaty dispute between Canadian mining company Diamond Fields International and the Republic of Liberia. Chaffetz Lindsey attorneys David Lindsey, James Hosking, Jennifer Permesly and Erin Valentine served as counsel to Liberia.
In its claim filed with the International Centre for the Settlement of Investment Disputes (ICSID) in May 2011, Diamond Fields alleged that Liberia had wrongfully terminated certain licenses granted to the company for the exploration of gold and diamonds in Liberia. At the time that Diamond Fields was prospecting in Liberia, the country was recovering from 14 years of civil war and undergoing a significant governmental transition. After several years of negotiations as well as several suspensions of the arbitration in light of the ebola crisis facing the country in 2014-2015, the parties eventually reached an agreement in February 2016 to dismiss the arbitration without prejudice to refilling.
“We are very pleased to have assisted Liberia in reaching an amicable resolution of this dispute,” Jennifer Permesly is quoted as saying. “The claim dates back to a period during which the Liberian government was undergoing a significant transition, which always raises complex issues in investment treaty arbitration. The dismissal of the claim permits Liberia to focus its attention on the country’s ongoing development, including its impressive efforts to rebuild after the recent ebola crisis.”
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