An ICC tribunal has ordered the National Iranian Gas Company to grant a discount on the price of gas exports to Turkey, in the latest round of a multibillion-dollar dispute over a 25-year supply agreement.
The ICC International Court of Arbitration is making efforts to expand its arbitral services in mainland China and India, becoming the third foreign arbitral institution approved to open in Shanghai and announcing a new Indian arbitration group and Indian regional director for South Asia.
Two ICSID annulment committees have upheld awards in favour of EDF and Total against Argentina, with the state failing on arguments that an arbitrator in one case lacked impartiality because of his law firm’s representation of Repsol in an unrelated dispute.
The High Court in London has criticised insolvent Brazilian oil and gas company OGX for seeking to frustrate an LCIA arbitration by means of an application to have a Brazilian court-approved reorganisation plan recognised in the UK.
The European Commission has filed an amicus brief with a US appeal court opposing the enforcement of a controversial US$250 million ICSID award against Romania, which it argues was rendered under an “illegal” treaty.
A US court has refused a request by Ohio-based paint retailer Sherwin-Williams for declaratory relief against two Mexican companies – as an ICC tribunal continues to hear their dispute over a failed US$2.3 billion merger.