Topic: Attachments and freezing orders

ECJ bars attachment of sanctioned assets

A Kuwaiti company’s efforts to collect on a billion-dollar award against Libya may have been dealt a blow after the European Court of Justice ruled that EU law precludes the attachment of assets that have been frozen as a result of international sanctions.

11 November 2021

Covid plea fails to halt Hong Kong share freeze

A Hong Kong court has granted an injunction in aid of a CIETAC claim over a share transfer that was terminated on the grounds of covid-19 and “deteriorating Sino-US relations”.

20 October 2021

Haiti fails to stay claim as central bank assets unfrozen

A New York state court has refused to grant Haiti a stay of a US$94 million ad hoc arbitration brought by a US-owned petroleum supplier, after a federal court lifted an attachment on assets owned by the Caribbean state’s central bank.

18 October 2021

Privy Council clarifies law on freezing injunctions

The UK Privy Council has confirmed that common law courts can grant freezing injunctions against parties over whom they have personal jurisdiction to aid enforcement of foreign judgments.

06 October 2021

Laos denied injunction in pursuit of “alter egos”

A federal court in Idaho has refused to grant Laos a preliminary injunction as it targets the assets of a US businessman behind two unsuccessful investment treaty claims.

28 July 2021

Caribbean appeal court can’t grant interim relief against Pakistan

The Eastern Caribbean Court of Appeal has ruled it has no power to grant injunctive relief against Pakistan at the request of an ICSID creditor when a lower court’s finding that the state enjoys immunity has not been set aside.

15 July 2021

Belgian appeal court upholds Kazakh asset freeze

The Brussels Court of Appeal has upheld an attachment over US$542 million worth of Kazakh state assets obtained by Moldovan investors seeking to enforce an Energy Charter Treaty award.

09 July 2021

Cairn freezes Indian property in Paris

Scotland’s Cairn Energy says it has frozen more than €20 million worth of Parisian properties owned by India as it seeks to enforce an investment treaty award worth more than US$1.7 billion.

08 July 2021

Sberbank escapes conspiracy claims in London

The Commercial Court in London has refused to hear conspiracy claims worth US$300 million against Russia’s largest bank – a dispute over an insolvent refinery that has also given rise to an LCIA arbitration.

08 July 2021

More BIT award creditors target Indian airline

A month after Scotland’s Cairn Energy applied to use assets of India’s national airline to satisfy a billion-dollar investment treaty award, Mauritian shareholders in a telecoms company have launched a similar action to collect on an award against the state worth over US$111 million.

29 June 2021

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