Published: 2019-05-02 08:23:22 CEST
Tallinna Vesi
Company Announcement

The Tribunal has further extended the deadline for rendering an award

The International Centre for Settlement of Investment Disputes (ICSID) informed AS Tallinna Vesi on 1 May 2019 that the Tribunal is unable to render its award in the arbitration case between AS Tallinna Vesi, United Utilities (Tallinn) B.V. and the Republic of Estonia by 3 May 2019, as previously announced, and will potentially render the award in June 2019.

The definite date of rendering the award will be announced in mid-May.

In October 2014, AS Tallinna Vesi and its shareholder United Utilities (Tallinn) B.V., registered in the Kingdom of The Netherlands, commenced international arbitration proceedings against the Republic of Estonia for breach of the Agreement on the Encouragement and Reciprocal Protection of Investments between the Kingdom of The Netherlands and the Republic of Estonia. The international arbitration hearings were held in November 2016.

Eliis Vennik
Head of Customer Relations and Communications
Tallinna Vesi
(+372) 626 2275
Eliis.vennik@tvesi.ee