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Commercial Arbitration

Maldives settles dispute with island developer

Maldives settles dispute with island developer

11 October 2019

The Maldives has paid US$55 million to settle two claims at the Permanent Court of Arbitration brought by a Liechtenstein-registered developer that also accused the country's former vice president of plotting the kidnapping of its Swiss CEO.

HKIAC hears battle over Chinese-backed satellite venture

HKIAC hears battle over Chinese-backed satellite venture

10 October 2019

The Hong Kong International Arbitration Centre is hearing a dispute between the majority shareholder of a Cayman-registered satellite technology start-up and its US founders, who say they suffered retaliation after raising concerns about alleged Chinese government influence over the project.

Payout reduced in Lone Star enforcement saga

Payout reduced in Lone Star enforcement saga

07 October 2019

An affiliate of US private equity group Lone Star Funds stands to collect US$23 million on an eight-year old ICC award against a Korean state-owned entity, after the country’s courts reduced the damages by US$10 million on public policy grounds and denied its request for US$51 million in post-award interest.

Award upheld in billion-dollar dispute over Qatari hospital

Award upheld in billion-dollar dispute over Qatari hospital

04 October 2019

A UK court has upheld an ICC award that found a Qatari state-backed foundation validly terminated a contract for the construction of a £1.9 billion medical facility in Doha – a ruling with potentially “huge” financial consequences for the contractor.

LCIA to hear feud over Indian airline

LCIA to hear feud over Indian airline

02 October 2019

An LCIA tribunal is to hear a shareholder dispute between the billionaire co-founders of India’s largest airline, IndiGo, over its corporate governance.

Ukrainian oligarch settles telecoms dispute

Ukrainian oligarch settles telecoms dispute

01 October 2019

Ukrainian businessman Rinat Akhmetov’s SCM Group has settled a dispute over the sale of a telecoms company that gave rise to a US$820 million LCIA award and high-profile asset freezes in England, Cyprus and the Netherlands.

Las Vegas casino operator wins big payout

Las Vegas casino operator wins big payout

30 September 2019

The owner of a premier gaming resort in Manila has been ordered to pay over US$296 million to a Las Vegas casino operator in a Singapore-seated UNCITRAL case – as it seeks to set aside an earlier award it alleges was procured by fraud and corruption.

Doosan seeks US court’s help in Kuwaiti asset hunt

Doosan seeks US court’s help in Kuwaiti asset hunt

30 September 2019

Korea’s Doosan Heavy Industries has asked a US court for permission to subpoena a former executive of a Kuwaiti private equity firm as it tries to enforce an ICC award worth US$74 million relating to a cancelled container terminal project in Egypt.

Hong Kong–China interim relief arrangement takes effect next week

Hong Kong–China interim relief arrangement takes effect next week

26 September 2019

A unique arrangement allowing courts in mainland China to order interim measures in support of institutional arbitrations seated in Hong Kong will come into effect on 1 October, it has been announced.

Chevron defeats US$18 billion enforcement bid

Chevron defeats US$18 billion enforcement bid

25 September 2019

A group of Saudi and Egyptian claimants have failed to enforce their US$18 billion award against Chevron after a US court found there was no binding agreement to arbitrate and criticised several “procedural irregularities” in the arbitration that the oil company had labelled a “sham”.