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Théobald Naud

Théobald Naud: very impressive. Exceptional in pleadings, always accessible. Very effective and very clear.
Client, The Legal 500 EMEA 2024

Théobald Naud represents clients in investment arbitration and international commercial arbitration proceedings. He also represents clients in French courts to challenge or enforce international arbitration awards and arbitration clauses.

Théobald has significant experience in arbitration proceedings administered by ICSID, the ICC and the PCA, as well as ad hoc arbitrations pursuant to the UNCITRAL Arbitration Rules.

He is fluent in both English and French and has argued cases in both languages. To watch highlights of Théobald’s oral advocacy in French and in English click here and here (extracts issued from ICSID Case No. ARB/14/22).

Théobald also has experience in corruption investigations. He has particular experience of mutual legal assistance in criminal matters between State authorities.

Professional QualificationsAvocat admitted to the Paris BarSolicitor of the Senior Courts of England and Wales


  • Representing the Republic of Guinea in parallel multi-billion dollar ICSID arbitrations brought by BSG Resources Limited and affiliated companies relating to a claim of expropriation of a mining concession and related rights (ARB/14/22).
  • Representing Messrs. De Sutter and (DS)2 S.A. in a multi-million dollar ICSID arbitration against the Republic of Madagascar relating to an investment in the textile manufacturing sector (ARB/17/18).
  • Representing Hungary in two multi-million dollar ICSID arbitrations brought by British (ARB/17/27) and Jordanian investors (ARB/17/45) with respect to investments respectively in the agricultural and tourism industries.
  • Representing Hungary in revision and annulment proceedings against ICSID awards in three separate proceedings concerning food products and food vouchers (ARB/12/9, ARB/13/21 and ARB/13/35).
  • Representing Turkcell in Turkcell v. Islamic Republic of Iran, a multi-billion dollar UNCITRAL Rules bilateral investment treaty arbitration administered by the Permanent Court of Arbitration, relating to the first private GSM license in Iran.
  • Representing the Republic of Moldova in Franck Charles Arif v. Moldova, an ICSID arbitration brought pursuant to the France-Moldova bilateral investment treaty. Most of the claims were rejected, with Claimant awarded only four percent of the damages sought (ARB/11/23).
  • Representing a natural resources trading company against a testing and certification company in an ICC arbitration relating to various claims of contractual liability (ICC Case 24497/GR).
  • Representing a French aircraft manufacturer in an ICC arbitration relating to an aircraft accident and alleged manufacturing defects (ICC Case 24202/GR).
  • Representing a French pharmaceutical group in an ICC arbitration relating to disputed royalty payments and license rights over the development and sale of a pharmaceutical product (ICC Case 22355/TO).
  • Representing the Republic of Moldova in proceedings before the Court of Appeal of Paris in support of a petition for annulment of an investment arbitration award issued pursuant to the Energy Charter Treaty.
  • French
  • English
  • University College of London, European law, LLM, 2005
  • University of Essex, French and English law, LLB, 2004
  • University of Paris X, French law, 2003


  • Legal 500 – Dispute Resolution: International arbitration - Tier 3 – Next Generation Partner – 2022-24
  • ExpertGuides - International Arbitration – Rising Star in France – 2018 to 2020


  • The European Commission formally proposes to withdraw from the ECT, 21 July 2023
  • Investment Arbitration in Africa, 15 June 2021
  • “Covid-19 – La responsabilité des Etats face aux investisseurs étrangers » (Option Finance), June 2021
  • “Investment Arbitration in Africa”, in: The Middle Eastern and African Arbitration Review 2021, Global Arbitration Review (GAR), June 2021
  • “The ICC Publishes Revised Rules for 2021”, DLA Piper Insights, October 2020
  • “Force Majeure Certificates in a global context: What are they and what is their effect?”, DLA Piper Insights, April 2020
  • “English and French law perspectives on which law applies to the arbitration agreement - Analysis following the English Court of Appeal decision in Kabab-Ji v Kout”, April 2020


  • Théobald Naud was invited to present on “Arbitration in Africa: What institutional and legal developments? What challenges? What future opportunities?” at ‘Les Rencontres de l’arbitrage et du contentieux’ in January 2023 in Paris. An annual event that brings together company directors, legal and financial directors, as well as all the key players in litigation, arbitration, and mediation in France
  • Conference: The Briber’s Dilemma Facing Parallel Criminal, Arbitral and Civil Asset Recovery Proceedings, IBA Annual Conference, Rome, 2018
  • Conference: Arbitration and Corruption, C5 Anti-Corruption Conference, London, 2018

Prior Experience

Théobald was educated in England and in France. He started his career at DLA Piper in London before joining DLA Piper’s Paris office in 2009.

Memberships And Affiliations

Théobald is a member of various professional organizations, including the International Arbitration Commission of ICC France, the Comité Français de l'Arbitrage and the IBA Arbitration Committee.