Topic: Bribery and corruption

Steinmetz found guilty of corruption in Geneva

A court in Geneva has found Israeli-French billionaire Beny Steinmetz guilty of paying bribes to secure mining rights in Guinea – allegations that have also been the subject of ICSID and LCIA arbitrations.

22 January 2021

Agent can’t revive ICC claim after “kickbacks”

A Swiss court has upheld an ICC award that blocked a Panamanian company from recovering agency commissions from a client after it emerged the agent’s founder had paid “kickbacks” to one of the client’s employees.

21 January 2021

Steinmetz bribery trial to begin in Switzerland

Israeli businessman Beny Steinmetz will face charges that he paid bribes to secure mining rights in Guinea during his criminal trial in Geneva starting on Monday, allegations that have also spawned LCIA and ICSID claims and a fraud suit in London.

08 January 2021

Nigerian state oil company defeats challenge to billion-dollar award

A Lagos court has upheld a US$1.7 billion award won by Nigeria’s national oil and gas company in a dispute with a local producer over the termination of exploration agreements that later became the subject of a corruption probe.

09 December 2020

Banker makes good on threat against Montenegro

A banker who accused Montenegro’s president of corruption has launched a €500 million treaty claim against the Balkan state over alleged politically motivated actions taken against his investments.

04 December 2020

Dechert faces renewed discovery bid in Iraqi telecoms dispute

A joint venture between French telecoms group Orange and Kuwaiti logistics group Agility has asked a US court to compel Dechert to produce documents concerning an alleged bribery scheme in Iraq for use in a US$1 billion ICC arbitration over its stake in a Kurdish mobile operator.

01 December 2020

Mega-claim against Brazil to proceed

An arbitral tribunal has reportedly upheld jurisdiction over a third-party funded claim worth up to US$35 billion brought against Brazil by a minority shareholder in Petrobras over losses the state-owned oil company sustained as a result of the Lava Jato corruption probe.

25 November 2020

Libya overturns treaty award in Paris

The Paris Court of Appeal has set aside a French construction company’s €452 million ICC award against Libya after finding it was based on a fraudulent settlement agreement.

18 November 2020

Benin fails in corruption challenge to airport award

A French court has refused to set aside a US$95 million ICC award won by a US airport security company against Benin, rejecting the state’s allegations that the underlying contract was procured through corruption.

12 November 2020

Corruption defence fails in Singapore

The Singapore High Court has enforced an ad hoc award in favour of one of the world’s largest energy traders despite a third party’s admission that the contract was procured corruptly.

06 November 2020

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