Amir Masood Taheri v. United Arab Emirates
ICSID · Investment (ICSID and treaty) · United Arab Emirates · 28 Nov 2022
Why it matters
This case is notable for its procedural rulings on third-party funding disclosure and the handling of authenticity challenges. The Tribunal ordered disclosure of funding terms related to adverse costs, setting a precedent for transparency. The case also illustrates how authenticity disputes can derail proceedings and lead to settlement. The award on agreed terms records a settlement after the funder terminated its agreement, highlighting the impact of third-party funding on case viability.
Summary
Amir Masood Taheri, a Swedish-Iranian national, initiated ICSID arbitration against the UAE under the UAE-Sweden BIT, alleging that the UAE's failure to renew his residence permit in 2011 violated the BIT's protections for his investments in import-export and distribution of optical discs and general commodities through companies Epoch and Reezmouj. He claimed damages of USD 110,831,687. The UAE challenged jurisdiction and the merits. During the proceedings, the UAE raised concerns about the authenticity of six email exhibits submitted by Taheri, pointing to contradictory timestamps, impossible dates, and formatting inconsistencies. The Tribunal opened a separate 'Authenticity Track' and ordered Taheri to preserve and retrieve original electronic communications. Taheri later reported that the original emails were deleted and not retrievable. Separately, the UAE applied for disclosure of third-party funding details. The Tribunal ordered Taheri to disclose the terms of the funding agreement concerning adverse costs, which he did partially. In September 2022, Taheri offered to settle, and the funding agreement was terminated. The parties reached a settlement: Taheri withdrew all claims with prejudice, agreed to pay all tribunal fees and ICSID costs, and each party bore its own costs. The Tribunal issued an award on agreed terms under ICSID Arbitration Rule 43(2), recording the settlement. The award was published with the parties' consent.
The detail
Parties: Amir Masood Taheri v. United Arab Emirates
Case number: ICSID Case No. ARB/21/19
Outcome: Settlement: Claimant withdrew all claims with prejudice; Claimant to pay all tribunal fees and ICSID costs; each party bears its own costs.
Applicable law: UAE-Sweden BIT (1999); ICSID Convention
Issues in play: The case involved the UAE-Sweden BIT's protections for foreign investors, and procedural issues regarding third-party funding disclosure and authenticity of evidence.
Read the full decision at italaw ↗
Locus Standi links to the source decision and publishes its own plain-language summary. It does not reproduce the text of the award.