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Commercial Arbitration

Turkish chrome-mining award hits US courts

Turkish chrome-mining award hits US courts

17 July 2019

A private equity vehicle has asked the US courts to enforce a US$388 million ICC award after prevailing on claims that it was wilfully deceived into purchasing a chrome-mining business in Turkey through manipulation of drilling samples.

UK court affirms power to restrain foreign arbitrations

UK court affirms power to restrain foreign arbitrations

16 July 2019

The English courts can restrain a foreign-seated arbitration in exceptional circumstances on the grounds that it is vexatious or oppressive, the Court of Appeal in London has confirmed – in a family dispute relating to the largest engineering and construction business in the Middle East.

Fukushima plant operator liable but escapes bulk of damages

Fukushima plant operator liable but escapes bulk of damages

16 July 2019

An ICC tribunal has found a Japanese state-owned utility liable for terminating a uranium supply contract in the wake of the disaster at the Fukushima nuclear power plant eight years ago, while dismissing the bulk of a US$700 million damages claim.

VIAC becomes second institution licensed in Russia

VIAC becomes second institution licensed in Russia

15 July 2019

The Vienna International Arbitration Centre has become the second foreign institution licensed to administer commercial cases in Russia.

Gazprom settles Turkmen gas-pricing dispute

Gazprom settles Turkmen gas-pricing dispute

15 July 2019

Russia’s Gazprom has signed a new supply deal with Turkmenistan’s state-owned gas producer Turkmengaz after settling a US$5 billion pricing dispute that had been playing out at the Stockholm Chamber of Commerce.

UK court orders Gazprom to hand over pipeline dividends

UK court orders Gazprom to hand over pipeline dividends

12 July 2019

The Commercial Court in London has ordered that Gazprom should post US$145 million in dividends from the Nord Stream pipeline as security while it continues to challenge a US$2.56 billion SCC award in the Swedish courts.

SCC award upheld in fintech dispute

SCC award upheld in fintech dispute

12 July 2019

The Svea Court of Appeal has upheld an SCC award in a dispute over an e-identification system for mobile phones, finding that the challenge could be dismissed as manifestly unfounded without the need to notify the counterparty.

Indian reforms under scrutiny at GAR Live Mumbai

Indian reforms under scrutiny at GAR Live Mumbai

08 July 2019

A panel at the inaugural GAR Live Mumbai considered proposed reforms to India’s arbitration law, including controversial provisions for a regulatory body with the power to grade institutions and new qualification requirements for arbitrators.

Singapore court affirms SIAC jurisdiction over Chinese dispute

Singapore court affirms SIAC jurisdiction over Chinese dispute

08 July 2019

The Singapore High Court has affirmed a SIAC tribunal’s jurisdiction despite the view of dissenting arbitrator Teresa Cheng SC – now Hong Kong’s secretary for justice – that Chinese law applied to the arbitration agreement.

Lithuania fails to revive US$2 billion claim against Gazprom

Lithuania fails to revive US$2 billion claim against Gazprom

05 July 2019

A Swedish court has upheld an SCC award that rejected a US$2 billion claim by Lithuania against Russia’s Gazprom concerning allegedly unfair gas prices.