Ruby River Capital LLC v. Canada

Claimants

The claimant is Ruby River Capital LLC, a U.S. corporation organized under the laws of Delaware. Ruby River is owned and controlled by Freestone International LLC (Freestone) and Breyer Capital L.L.C. (Breyer Capital), both U.S. corporations.

Ruby River Capital LLC submits its claim on behalf of Symbio, a Québec limited partnership, established to build and operate a natural gas liquefaction complex in Saguenay, Quebec (the GNLQ Project) and a natural gas pipeline connecting the northeast of Ontario to Saguenay (the Gazoduq Project).

Articles

• CUSMA Annex 14-C
• NAFTA Article 1102 (National Treatment)
• NAFTA Article 1103 (Most-Favored-Nation Treatment)
• NAFTA Article 1105 (Minimum Standard of Treatment)
• NAFTA Article 1110 (Expropriation and Compensation)

Damages claimed

US$ 588,140,000 plus interest and costs

Status

Active.

Arbitration rules

International Centre for Settlement of Investment Disputes (ICSID)

Summary

Procedural history

On October 19, 2022, Ruby River served the Government of Canada with a Notice of Intent (NOI) to Submit a Claim to Arbitration. On February 17, 2023, Ruby River filed a Request for Arbitration (NOA) against the Government of Canada. The tribunal was established on June 22, 2023. Claimant's Memorial on Jurisdiction and the Merits was submitted on November 21, 2023. Canada submitted its Counter-Memorial on July 15, 2024.  The Claimant filed its Reply on Merits and Counter-Memorial on Jurisdiction on April 18, 2025.

Factual overview and nature of the claim

The Claimant relies on the Legacy-claim annex of CUSMA (Canada-United States-Mexico Agreement) and alleges that the Quebec and federal governments’ decisions, following two environmental assessments, to reject the GNLQ Project breached NAFTA (North American Free Trade Agreement), Article 1102 (National Treatment), Article 1103 (Most-Favored-Nation Treatment), Article 1105 (Minimum Standard of Treatment) and, Article 1110 (Expropriation and Compensation).

Legal documents

Additional documents related to this case can be viewed on the ICSID website.

Copies of all legal documents posted have been prepared in the language of operation of the Tribunal or Court in question. The Government of Canada has not modified or changed these in any way. As such, these have not been translated from their original language.

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