Victoria Associates – International – Business – Disputes
In a decision of significant practical import, Portugal’s Supreme Court of Justice (Supremo Tribunal de Justiça) has held that a shareholders’ resolution is voidable under Article 58(1)(b) of the Portuguese Companies Code where a sole … Read the rest
Victoria Associates is pleased to announce that Duarte G. Henriques has been awarded Fellow Membership (FCIArb) of the Chartered Institute of Arbitrators (CIArb), one of the most prestigious professional recognitions in the field of arbitration and alternative dispute resolution.
Fellowship … Read the rest
On 27 February 2025, the Lisbon Court of Appeal delivered its decision in Case No. 2369/23.0YRLSB, concerning the recognition in Portugal of a London arbitral award issued under the Refined Sugar Association Rules. The judgment provides important guidance on due … Read the rest
As the global economy shifts towards sustainability, investment Treaty arbitration increasingly stands at the intersection between economic protection and environmental preservation, as States are asserting their sovereign right to regulate in pursuit of legitimate public welfare objectives, particularly in the … Read the rest
The UK Supreme Court has handed down an important decision in Process & Industrial Developments Ltd (P&ID) v The Federal Republic of Nigeria ([2025] UKSC 36), unanimously dismissing P&ID’s appeal against a costs order made in favour of Nigeria. The … Read the rest
The National Treatment (NT) and Most-Favoured-Nation (MFN) clauses are central pillars of Portugal’s bilateral investment treaty (BIT) practice, designed to ensure that foreign investors are not placed at a disadvantage compared with domestic … Read the rest
The protection against expropriation is one of the core guarantees in international investment law, designed to shield investors from uncompensated state takings. Portugal’s bilateral investment treaties (BITs) and multilateral commitments broadly follow international practice but include some distinctive drafting nuances.… Read the rest
The Fair and Equitable Treatment (FET) standard lies at the heart of international investment law. It serves as a safeguard for foreign investors, ensuring that host states uphold principles of fairness, consistency, and predictability in the treatment of their investments. … Read the rest
Introduction
The principle of “pacta sunt servanda”—agreements must be religiously kept—forms the bedrock of international contract and arbitration law. Arbitration agreements, in particular, have historically been insulated from ex post challenges, with courts across most jurisdictions insisting that parties abide … Read the rest
Following our earlier note on the concept of “investor” in Portugal’s investment treaty practice, we now turn to the definition of investment.
Portuguese bilateral investment treaties generally adopt a broad and inclusive approach. Investment is typically defined as “any kind … Read the rest