Petr Polášek

Representing Gabriel Resources in investment treaty arbitration concerning gold mining project
Representing the mining company Gabriel Resources in an ICSID arbitration against Romania concerning investment treaty claims relating to one of the world's largest undeveloped deposits of gold.

US$740.3 million ICSID arbitration award for Canadian gold mining company
Petr was a key member of the Firm's international arbitration team which secured an award of US$740.3 million for Canadian gold mining company Gold Reserve Inc. against Venezuela in an arbitration concerning Venezuela's deprivation of Gold Reserve's rights to develop the Brisas gold and copper mining project in southeastern Venezuela, one of the largest undeveloped gold and copper deposits in the world. Gold Reserve's claims were based on the Canada-Venezuela bilateral investment treaty and the arbitration took place under the auspices of the World Bank's International Centre for Settlement of Investment Disputes (ICSID) pursuant to the rules of ICSID's Additional Facility. The unanimous award is one of the largest investment treaty awards to date and highlights the Firm's world-leading experience in handling the most complex and significant international arbitrations.

Satellite-related dispute
Representing an international organization in a dispute with a satellite manufacturer concerning the development and launch of a telecommunications satellite and the lease of transponder capacity thereon.

Representing the Republic of Bulgaria in multiple investment treaty arbitrations
Petr successfully represented the Republic of Bulgaria in several investment treaty arbitrations, including an ICSID arbitration under the Energy Charter Treaty and a bilateral investment treaty concerning an oil refinery, in which Bulgaria defeated all claims (in excess of US$300 million) and ICSID arbitrations under the Energy Charter Treaty and bilateral investment treaties concerning Bulgaria's electricity distribution and supply sectors, an industrial park development, and waste management services.

Favorable award for TECO Guatemala Holdings, LLC against Guatemala
Petr represented the electricity company TECO in an ICSID arbitration against Guatemala under the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) relating to the claimant's investment in Guatemala's electricity distribution sector. The client was awarded in excess of US$30 million (including costs and interest). In subsequent annulment proceedings, the ICSID ad hoc committee rejected Guatemala's application for annulment of the award, upholding the award of damages to TECO, and granted TECO's application for partial annulment of the award insofar as the original tribunal dismissed the remainder of TECO's damages claim. TECO resubmitted the claim for the remaining portion of its damages to ICSID arbitration and was awarded additional significant damages.

Victory for a European State in ICC arbitration relating to a telecommunications company
Petr represented a European State in an ICC arbitration concerning the purchase price for a telecommunications company. The client was awarded approximately €100 million, comprising almost the entire amount claimed and costs and interest.

Successfully defending Romania in investment treaty arbitration
Petr was a member of the Firm's team that successfully defended Romania in an ICSID arbitration concerning a large chemical plant in Romania. Following the Firm's substantive submissions on Romania's behalf, the claimant abandoned the case.

One of the largest ICSID awards in Československá obchodní banka, a. s.
In a dispute between Československá obchodní banka, a. s, a leading Czech bank, and the Slovak Republic, Petr was a member of the Firm's team that secured an award to the client of US$877 million, including costs, in connection with the bank's privatization. This award remains one of the largest ICSID awards to date.