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Commercial Arbitration

Trinidad natural gas dispute taken to US court

Trinidad natural gas dispute taken to US court

20 February 2017

A Spanish energy company has applied to a US court to set aside an UNCITRAL award rejecting its claim against a Caribbean liquid natural gas producer – accusing the tribunal of making it “procedurally impossible” for the company to prevail.

Headache over for GlaxoSmithKline

Headache over for GlaxoSmithKline

07 February 2017

TRIBUNAL ADDED. A Debevoise & Plimpton team has won US$40 million award for GlaxoSmithKline in two ICC arbitrations with fellow pharmaceutical company Pernix over an agreement to manufacture and distribute a leading migraine drug in the US.

More questions than answers after Second Circuit ruling

More questions than answers after Second Circuit ruling

06 February 2017

Columbia Law School professor George Bermann finds positive and troubling aspects in a recent Second Circuit decision that gave a group of Brazilian companies a second chance to pursue enforcement of an ICC award against alleged alter egos of the award debtor.

UK Supreme Court hears New York Convention appeal

UK Supreme Court hears New York Convention appeal

03 February 2017

The UK Supreme Court has heard an appeal by Nigeria’s national oil company against a requirement that it provide security as a condition of challenging the enforcement of a US$340 million award –raising key questions about the interplay of UK procedural law and the New York Convention.

US investor pays to settle Congo copper dispute

US investor pays to settle Congo copper dispute

31 January 2017

US natural resource group Freeport-McMoran has paid US$33 million to settle an ICC dispute with the Democratic Republic of the Congo’s state mining company Gecamines over the sale of a majority stake in one of the world’s largest copper mines.

Swiss court affirms Jordan award over “fraudulent” share sale

Swiss court affirms Jordan award over “fraudulent” share sale

30 January 2017

Switzerland’s top court has upheld an LCIA award rejecting a US$130 million claim against a Jordanian state-owned fund after finding that the underlying share purchase deal was fraudulent– as it emerges that related ICSID and UNCITRAL claims have been discontinued.

YPF pays part of ICC award

YPF pays part of ICC award

17 January 2017

Argentina’s state oil and gas operator YPF has paid US$60 million to satisfy an ICC award worth more than three times that amount, bringing an end to enforcement proceedings in New York.

Montenegro defeats Deripaska in Vienna

Montenegro defeats Deripaska in Vienna

16 January 2017

An UNCITRAL tribunal seated in Vienna has ruled on a claim and counterclaim in a long-running dispute between companies linked to Russian oligarch Oleg Deripaska and Montenegro that has already led to a rejected ICSID claim.

Two more ICC claims over Panama Canal

Two more ICC claims over Panama Canal

12 January 2017

Two further ICC claims worth US$2.3 billion have been filed by an engineering consortium working on the project to expand the Panama Canal – bringing the total to five.

Sonatrach claims victory in oilfield dispute

Sonatrach claims victory in oilfield dispute

14 December 2016

Algerian state-owned energy company Sonatrach says an UNCITRAL tribunal has upheld its right to terminate contracts for the exploration and development of two oilfields – three months after a Swiss court ruled that the arbitration didn’t have to begin afresh after being paused during a failed conciliation.

AIG denied leave to appeal in Hong Kong

AIG denied leave to appeal in Hong Kong

14 December 2016

A Hong Kong court has refused to allow AIG to appeal a decision to uphold a US$475 million award despite the US insurer’s arguments that the ICC tribunal erred by applying equitable principles to reach a “fair” decision.

Who is sitting at the ICC?

Who is sitting at the ICC?

14 December 2016

Arbitrators from the US and Western Europe are getting the lion’s share of appointments in ICC cases while women are selected around 20% of the time, according to disclosures by the institution over the past six months.