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Korean shipbuilder Samsung Heavy Industries has paid US$200 million to satisfy a London arbitration award in favour of an offshore drilling contractor, weeks after settling a related US investigation over bribes paid to former officials at Brazil’s Petrobras.
08 January 2020
Ashique Rahman and Miglena Angelova of Fietta in London ask whether investor-state tribunals have dispensed with “abstract” standards of proof when it comes to assessing corruption allegations.
08 January 2020
Nigeria has launched a fresh challenge in UK courts against US$9.6 billion award won by a British Virgin Islands company arising from a failed gas deal, arguing the underlying contract was procured through fraud and corruption.
06 December 2019
The Commercial Court in London has rejected an application by a Guernsey mining company founded by Israeli billionaire Beny Steinmetz to set aside a US$2 billion LCIA award that found an iron ore concession in Guinea was procured using bribes.
02 December 2019
A Peruvian court has overturned pre-trial detention orders against eight arbitrators accused of taking bribes from Brazilian construction company Odebrecht, including one whose arrest prompted outcries from the international arbitration community.
29 November 2019
The Court of Appeal in London has ruled that Malaysian sovereign wealth fund 1MDB can proceed with an application to set aside an allegedly fraudulent settlement of an LCIA arbitration with an Abu Dhabi government-owned entity amid a scandal over billions of dollars in misappropriated funds.
27 November 2019
UPDATED WITH JUDGMENT: A Peruvian judge has ordered the pre-trial detention of 14 arbitrators – including one who has sat at ICSID – for 18 months while they are investigated for allegedly taking bribes to favour scandal-hit construction company Odebrecht in a series of cases that cost the state more than US$250 million.
07 November 2019
The Court of Appeal in The Hague has set aside an ICC award against a subsidiary of Venezuela’s state-owned oil and gas company PDVSA on the ground that the underlying contract was procured through corruption.
06 November 2019
Ghana’s central bank has accused one of its officials of accepting bribes in relation to the awarding of a contract for a retail payments system, citing evidence that emerged in a US$478 million LCIA claim over the project’s termination.
17 September 2019
Swiss authorities have filed corruption charges against Israeli billionaire Beny Steinmetz in connection with the procurement of mining rights in Guinea that are also the subject of a US$5 billion ICSID case suspended earlier this year.
13 August 2019
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