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Commercial Arbitration

SIAC panel holds Repsol liable in fraud claim

SIAC panel holds Repsol liable in fraud claim

17 February 2020

A SIAC tribunal has issued a partial award in favour of China’s Sinopec Group in a US$5.5 billion fraud claim against Repsol relating to the purchase of a stake in a North Sea oil venture eight years ago.

ICC panel decides Australian battle over Senegal oilfield

ICC panel decides Australian battle over Senegal oilfield

14 February 2020

An ICC tribunal has ruled in favour of Perth-based Woodside Petroleum in a dispute over its purchase of a stake in a US$4.2 billion oil project in Senegalese waters.

English court unable to compel testimony from non-party

English court unable to compel testimony from non-party

14 February 2020

The English Commercial Court has ruled it has no power to compel a witness to give evidence in a New York-seated arbitration between partners in a Central Asian oilfield because he is not a party to the underlying arbitral agreement.

Iran fails in appeal over EU sanctions

Iran fails in appeal over EU sanctions

13 February 2020

The Court of Appeal in London has confirmed that Iran’s Ministry of Defence is not entitled to interest that has accrued on a £128 million ICC award against a UK state-owned entity following the imposition of EU sanctions – saying the measures were intended to have “confiscatory consequences.”

Tanzania proposes arbitration reforms amid investor backlash

Tanzania proposes arbitration reforms amid investor backlash

12 February 2020

The government of Tanzania has proposed a number of long-awaited reforms to its arbitration act, including the creation of a new arbitral institution – as the country responds to an investor backlash to its regulatory regime that has led to several investment treaty claims.

Drilling contractor seeks appeal of Samsung award

Drilling contractor seeks appeal of Samsung award

12 February 2020

A Luxembourg-based drilling contractor has said it is seeking to challenge a London arbitration award worth US$320 million award rendered last month in favour of Korean shipbuilder Samsung Heavy Industries.

MoloLamken promotes in DC

MoloLamken promotes in DC

12 February 2020

US disputes boutique MoloLamken has promoted former LCIA deputy registrar Rémy Gerbay to partner in Washington, DC.

Egyptian state entity defeats US$3 billion claim

Egyptian state entity defeats US$3 billion claim

11 February 2020

A Madrid-seated tribunal has rejected a US$3.1 billion claim against Egypt’s state-owned gas supplier on the basis that the claimant, a joint venture between Spain’s Naturgy and Italy’s Eni, has already secured a US$2 billion ICSID award.

ICC to hear fight over nuclear fuel venture

ICC to hear fight over nuclear fuel venture

11 February 2020

A US nuclear fuel company has launched an ICC arbitration against a subsidiary of Électricité de France over a terminated deal for joint research and development activities.

Konrad Partners promotes in Vienna

Konrad Partners promotes in Vienna

10 February 2020

Konrad Partners has promoted Michael Hofstätter, who is currently advising on a hundred-million-euro power plant dispute, to counsel in Vienna.