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Enforcement and Set-Aside

Yukos shareholders fail again in Baker Botts discovery bid

Yukos shareholders fail again in Baker Botts discovery bid

12 December 2017

The former majority shareholders in Yukos have again failed to convince a US court to compel discovery from Baker Botts that would supposedly support allegations that the firm helped a Russian state-owned oil company manipulate the rulings of Armenian judges in Yukos-related proceedings.

English court rejects Ukrainian mall awards challenge

English court rejects Ukrainian mall awards challenge

08 December 2017

The High Court in London has rejected an attempt by a British Virgin Islands company to set aside three LCIA awards which ordered it to hand over its ownership of a Ukrainian shopping centre.

Mauritian state entity hit with cargo freeze in India

Mauritian state entity hit with cargo freeze in India

05 December 2017

A shipping company attempting to enforce a US$120 million SIAC award has secured an interim order from an Indian court preventing the transport of petroleum products from India to Mauritius, despite protests that a lack of available petrol is damaging the Indian Ocean state.

Koch begins US enforcement action against Venezuela

Koch begins US enforcement action against Venezuela

05 December 2017

After winning US$409 million in an ICSID claim against Venezuela over an expropriation in the fertiliser sector, two companies controlled by prominent US businessmen Charles and David Koch have applied to a court in Washington, DC, to enforce the award.

Dutch court declines enforcement of set aside award

Dutch court declines enforcement of set aside award

28 November 2017

The Supreme Court of the Netherlands has refused to enforce an arbitral award in favour of Russian metals billionaire Nikolay Maximov that has been set aside in Russia – but confirmed the power of the Dutch courts to do so in limited circumstances.

Venezuela settles with Crystallex

Venezuela settles with Crystallex

27 November 2017

Distressed Canadian mining company Crystallex has reached a potentially record-breaking settlement with Venezuela over a US$1.39 billion ICSID award – a deal that will likely mean significant returns for the private equity firm that funded the arbitration.

“Turf war” award set aside in Dubai over defective clause

“Turf war” award set aside in Dubai over defective clause

23 November 2017

A US$266 million award has been set aside in Dubai because of a defective clause identifying a defunct arbitral institution in the underlying agreement, after it was subject to an apparent turf war between the jurisdiction’s “onshore” courts and those of the Dubai International Financial Centre freezone.

Caribbean court knocks back Belize’s public policy objection

Caribbean court knocks back Belize’s public policy objection

23 November 2017

The Caribbean Court of Justice has overruled the lower Belizean courts’ refusal to enforce an LCIA award on public policy grounds because of the supposed illegality of a promissory note on which it was based.

SIAC gag order does not violate US constitution, court says

SIAC gag order does not violate US constitution, court says

20 November 2017

“Should a federal court stand idly by when a foreign arbitral commission issues an order restricting the speech of a private party?", asked a Washington, DC court in a judgment on whether a SIAC emergency arbitrator's gag order was unconsitutional. “Actually, yes.”

Spain reverses confirmation of solar award in New York

Spain reverses confirmation of solar award in New York

17 November 2017

A New York court has agreed to vacate an order granting ex parte recognition of a €128 million Energy Charter Treaty award against Spain, relying on two appeal court precedents that found ICSID awards against sovereign states can only be enforced through a plenary action.