Kluwer: Zeph Investments v. Australia: Corporate Restructure Leads to Dismissal of AANZFTA USD 198 bn Claim

A USD 198 billion investment treaty claim brought by Singapore-incorporated Zeph Investments (“Zeph”) against Australia has been dismissed on the basis that Zeph, which acquired ownership over an Australian mining company through a corporate restructure, had in fact “contributed nothing” and was therefore not an investor with a protected investment under the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (“AANZFTA”).