Nepal Vindicated in $422 Million Investor-state Claim

Congratulations to Foley Hoag, LLC—Constantinos Salonidis, Lawrence Martin, Tafadzwa Pasipanodya, Nour Nicolas, Sudhanshu Roy, Karim M’ziani, and Iulia Padeanu Melon—and the government of Nepal for their victory in the country’s first investment arbitration case.

Following a one-week international arbitration at the Permanent Court of Arbitration in The Hague, the tribunal, composed of presiding arbitrator Joongi Kim and wing arbitrators Albert Jan van den Berg and Paul Friedland, dismissed claims worth $422M made by Malaysian telecommunications conglomerate Axiata that they were not subject to a capital gains tax for the company’s 2016 purchase of a majority stake in Nepal’s largest telecommunications company.

DOAR’s consulting team—Raymond McLeod, Kristy Park, and Gabriel Dash—was proud to provide graphics consulting and evidence presentation consulting.

Read more about the verdict on Law360.com.