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Enforcement and Set-Aside

US$50 billion Yukos awards set aside in The Hague

US$50 billion Yukos awards set aside in The Hague

Premium article - 20 April 2016

UPDATED. In a spectacular reversal of fortune for Russia, a court in The Hague has set aside the US$50 billion Energy Charter Treaty awards in favour of the former majority shareholders in the Yukos Oil Company on jurisdictional grounds.

Crystallex moves to enforce against Venezuela

Crystallex moves to enforce against Venezuela

Premium article - 13 April 2016

Days after winning a US$1.4 billion ICSID award against Venezuela, distressed Canadian mining company Crystallex has applied to enforce it in the courts of Washington, DC.

Bottlemaker free to enforce against Venezuela, rules annulment committee

Bottlemaker free to enforce against Venezuela, rules annulment committee

Premium article - 07 April 2016

In a rare move, an ICSID annulment committee hearing Venezuela’s attempt to overturn an award in favour of US bottlemaker Owens-Illinois has lifted a stay of enforcement ahead of the outcome of the proceeding.

US sides with Venezuela over "statutory gap" in ICSID enforcement

US sides with Venezuela over "statutory gap" in ICSID enforcement

Premium article - 01 April 2016

The United States government has intervened in an appeal over the recognition of a US$1.6 billion award against Venezuela, arguing that the Foreign Sovereign Immunity Act still applies even when enforcing awards under the ICSID Convention.

New York Times report triggers failed enforcement action and new US case law

New York Times report triggers failed enforcement action and new US case law

Premium article - 09 March 2016

A New York Times report identifying a controversial Indian property developer as the owner of a US$35 million penthouse in the Time Warner Center has led to an unsuccessful action to enforce an arbitral award in New York and new law on section 1782 discovery and service of foreigners in the US.

Defence contractor seeks to enforce against Libya

Defence contractor seeks to enforce against Libya

Premium article - 04 March 2016

A defence company has applied to a US court to enforce a US$26 million ICC award against Libya relating to a supply contract disrupted during the Arab Spring.

Jersey court rejects Turkish state immunity plea

Jersey court rejects Turkish state immunity plea

Premium article - 26 February 2016

The Royal Court of Jersey has granted a company leave to enforce two ICC awards against shares held by Turkish state-owned petroleum company BOTAŞ, rejecting arguments that they are protected by sovereign immunity.

Counsel rebuked in Venezuela enforcement action

Counsel rebuked in Venezuela enforcement action

Premium article - 15 February 2016

The High Court in London has criticised Canadian mining company Gold Reserve and its counsel Norton Rose Fulbright for failing to raise sovereign immunity issues when obtaining leave to enforce a US$740 million ICSID award against Venezuela.

Paris court declines to suspend Yukos enforcement

Paris court declines to suspend Yukos enforcement

Premium article - 17 December 2015

The former majority shareholders in the Yukos oil company can continue to attach Russia's assets in France in fulfilment of a US$50 billion award of damages, the Paris Court of Appeal has ruled - with all money seized to be placed into escrow pending the outcome of a challenge to the recognition of the award.

QATAR: One step forwards, one step back over ICC award enforcement

QATAR: One step forwards, one step back over ICC award enforcement

Premium article - 26 November 2015

Last year, Qatar’s Court of Cassation overturned the decision of a first instance court to annul an arbitration award that was not issued in the name of the Emir of Qatar. Matthew Walker and Darran Jenkins, partner and associate at K&L Gates in Doha, say things haven’t gone smoothly since.