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Enforcement and Set-Aside

Enforcement of Micula award against Romania stayed in UK

Enforcement of Micula award against Romania stayed in UK

20 January 2017

UPDATED. An English court has rejected a request by Romania to set aside the registration of an ICSID award in favour of twin brothers Ioan and Viorel Micula – but stayed the enforcement pending the outcome of ongoing proceedings in the European courts.

Niger loses Central Park mansion in New York enforcement row

Niger loses Central Park mansion in New York enforcement row

19 January 2017

A mansion in New York’s affluent Upper East Side opposite Central Park has been attached by a court to satisfy a US$46 million award against the West African state of Niger in a dispute over a contract to produce biometric and electronic passports.

Security granted in Venezuelan mining fight

Security granted in Venezuelan mining fight

18 January 2017

A British Virgin Islands-registered commodities group has applied to a court in Miami to enforce a partial award that orders a Venezuelan state mining company to pay security for costs while a US$212 million dispute over iron ore is resolved.

LCIA award upheld in Moscow mall dispute

LCIA award upheld in Moscow mall dispute

21 December 2016

The English Court of Appeal has upheld a US$84 million LCIA award against a former Russian politician in a dispute over a Moscow mall, only a month after a court in Los Angeles imposed a worldwide freeze on his assets in support of the award.

Argentina fails to annul Saur award

Argentina fails to annul Saur award

20 December 2016

An ICSID annulment committee has rejected Argentina’s request to annul a US$59 million award in favour of French water management company Saur International.

Spanish investors in Yukos can’t appeal overturn of award, rules Sweden’s top court

Spanish investors in Yukos can’t appeal overturn of award, rules Sweden’s top court

16 December 2016

Spanish investment funds with a minority shareholding in Yukos will not be able to appeal a finding that a tribunal chaired by Jan Paulsson lacked jurisdiction to hear their claims in relation to the collapse of the oil company, following a ruling of Sweden’s Supreme Court this week.

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.

ECT award survives fraud challenge in Sweden

ECT award survives fraud challenge in Sweden

12 December 2016

A Swedish court has refused a request by Kazakhstan to set aside a US$506 million Energy Charter Treaty award in favour of a group of Moldovan investors that the state alleged was tainted by fraud.

Thailand loses German appeal over treaty award

Thailand loses German appeal over treaty award

12 December 2016

Germany’s Federal Court of Justice has upheld a €45 million award against Thailand, accepting evidence provided by the German government that the claimant had an approved investment protected by a treaty.

Lippo fails to undo enforcement in Hong Kong

Lippo fails to undo enforcement in Hong Kong

07 December 2016

In a closely watched case that has divided Asia’s two leading arbitration jurisdictions, Hong Kong’s Court of Appeal has upheld the enforcement of a US$130 million SIAC award against Indonesia’s Lippo Group – even though the bulk of the award has been declared unenforceable by the courts in Singapore.

Ukraine fails to quash treaty award in Paris

Ukraine fails to quash treaty award in Paris

01 December 2016

The Paris Court of Appeal has dismissed a request by Ukraine to set aside a US$112 million investment treaty award in favour of Russian oil company Tatneft, rejecting arguments that the tribunal lacked jurisdiction and that presiding arbitrator Francisco Orrego Vicuña lacked independence and impartiality.

Landau denied second appearance in Singapore

Landau denied second appearance in Singapore

30 November 2016

Four years after he was admitted for the landmark Astro v Lippo case, English barrister Toby Landau QC has been denied permission to appear in the Singapore courts on behalf of a Chinese client in a challenge to a US$149 million ICC award.