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Commercial Arbitration

Greece fails to sink shipyard award

Greece fails to sink shipyard award

17 April 2019

Greece has lost a challenge to an ICC award in favour of the Middle Eastern-owned operator of one of the country’s largest commercial shipyards – and has disputed a recent statement by the investor that the award has a total commercial value of more than €1.2 billion.

Mozambican state entities face claims amid fraud probe

Mozambican state entities face claims amid fraud probe

17 April 2019

Abu Dhabi-based shipbuilder Privinvest has commenced arbitration against three Mozambican state-owned companies in the wake of a probe by US authorities into an alleged US$2 billion fraud that has been called the “tuna bond” scandal.

Singapore considers allowing appeals on questions of law

Singapore considers allowing appeals on questions of law

15 April 2019

The Singaporean government is considering allowing parties to appeal to the courts on questions of law arising out of an arbitration award – provided that they have agreed to opt into such a mechanism.

Hong Kong award enforced in dispute over solar IPO

Hong Kong award enforced in dispute over solar IPO

11 April 2019

A US court has confirmed an HKIAC-administered award that held the founder and controlling shareholder of a Cayman-registered solar energy company liable for depriving former employees of the benefits of an initial public offering.

New York State wins payout in Native American casino dispute

New York State wins payout in Native American casino dispute

11 April 2019

The State of New York has won US$256 million in an arbitration with a Native American tribe and stands to collect as much as US$1 billion over the next five years after a tribunal upheld its interpretation of a revenue-sharing agreement for three casinos.

English court blocks proceedings in Jordan

English court blocks proceedings in Jordan

10 April 2019

The High Court in London has restrained a French construction company from pursuing court proceedings in Amman over a contract for works at a container terminal at Jordan’s only port.

Billion-dollar award in mining fraud dispute

Billion-dollar award in mining fraud dispute

10 April 2019

Brazil’s Vale has been awarded nearly US$2 billion in an LCIA claim over a mining project in Guinea that gave rise to allegations of corruption and fraud and the disqualification of a prominent arbitrator – two months after a related ICSID claim reportedly settled.

ICC hears dispute over Korean “smart city”

ICC hears dispute over Korean “smart city”

09 April 2019

A New York-based real estate investment group has lodged an ICC claim over a US$35 billion project to build a sustainable city near Seoul, accusing its Korean partner of fraudulently seeking to oust it from the joint venture.

Cayman disclosure order upheld in aid of enforcement abroad

Cayman disclosure order upheld in aid of enforcement abroad

08 April 2019

The Grand Court of the Cayman Islands has upheld a disclosure order in aid of efforts to enforce a US$1.5 billion ICC award, finding it did not matter that the relief was sought in aid of foreign rather than domestic enforcement proceedings.

Djibouti liable over deal with Chinese port operator

Djibouti liable over deal with Chinese port operator

05 April 2019

An LCIA tribunal has ordered Djibouti to pay $533 million to a subsidiary of Emirati port operator DP World after finding that the east African state breached the company’s exclusivity rights by pursuing the development of container port facilities with a rival Chinese operator.