Topic: Bribery and corruption

Steinmetz lawyers say Vale award may be reopened after fraud trial collapses

Beny Steinmetz’s eponymous mining company may seek to overturn a US$2 billion LCIA award in favour of Brazil’s Vale following the collapse of a related fraud litigation this week, the Israeli businessman’s lawyers have said.

17 February 2022

Nigeria revives discovery bids in US and BVI

Nigeria has overturned orders in the courts of the US and British Virgin Islands that blocked it from obtaining discovery to support its allegations that a gas company procured a US$10 billion award against the state through fraud.

08 February 2022

South African mining group pursues Zimbabwe in DC

Two Mauritian subsidiaries of South African mining group Amari have brought a US action against Zimbabwe to collect on a US$50 million ICC award issued eight years ago over nickel and platinum projects that were terminated on the basis of corruption allegations.

11 January 2022

Croatia seeks to reopen award in bribery dispute

Croatia has said it will ask a Swiss court to review an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister – as the Balkan state settles a separate dispute with a US investor.

06 January 2022

New ICC panel to hear bid to review Congo award

A new ICC panel will consider the Republic of the Congo’s bid to revise a billion-euro award in light of its allegations of corruption against leading French arbitrator Yves Derains – who has in turn brought a defamation complaint against the state’s counsel.

15 December 2021

Old foe of DRC targets “stolen” assets in Maryland

A US investment firm seeking to collect on a nearly two-decade old arbitral debt from the Democratic Republic of the Congo is targeting properties in Maryland allegedly acquired by relatives of the country’s former president Joseph Kabila with stolen government funds.

08 December 2021

1MDB not too late to challenge Abu Dhabi settlement

The Commercial Court in London has ruled that Malaysian sovereign wealth fund 1MDB is not too late to challenge a multibillion-dollar arbitral settlement with an Abu Dhabi government-owned entity that it alleges was intended to cover up a massive fraud.

04 November 2021

French bribery ruling overturned in Alstom case

France’s Court of Cassation has found that a lower court erred when it blocked enforcement of an ICC award against Alstom because of alleged evidence of bribery.

13 October 2021

Kyrgyzstan trounces telecoms claim

Kyrgyzstan says it has defeated a claim worth nearly US$300 million over the alleged expropriation of a mobile operator, with a tribunal finding the investment was tainted by corruption.

12 October 2021

Malaysian state-owned entity takes Sudan to ICSID

Malaysia’s national oil and gas company Petronas has launched an ICSID claim against Sudan after a complex it operates in Khartoum was confiscated following allegations the land rights were illegally obtained.

12 October 2021

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