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Funder’s role in failed ICSID claim comes to light

Funder’s role in failed ICSID claim comes to light

07 May 2019

An ICSID case that left an unsuccessful claimant saddled with a US$6 million adverse costs award was financed by Australia-based disputes funder IMF Bentham, GAR has confirmed.

Georgian businessman gets emergency relief in Stockholm

Georgian businessman gets emergency relief in Stockholm

12 April 2019

A businessman who accused senior figures in Georgia’s ruling party of corruption has obtained an SCC emergency arbitrator order requiring the state to refrain from selling attached assets belonging to his tobacco business.

ICSID measures fail to halt extradition of witness

ICSID measures fail to halt extradition of witness

11 April 2019

The High Court in London has affirmed that it was not an abuse of process for Romanian authorities to seek to extradite a German businessman to face bribery charges despite the recommendation of an ICSID tribunal that the arrest warrant against him should be temporarily withdrawn.

ICC panel stays PDVSA case after Guaidó intervenes

ICC panel stays PDVSA case after Guaidó intervenes

27 March 2019

An ICC tribunal has stayed a US$265 million case involving Venezuela’s national oil and gas company PDVSA – as the country’s self-declared acting president Juan Guaidó tells ICSID it should not accept any submissions by lawyers representing the government of Nicolás Maduro.

Al Jazeera obtains measures over jailed journalist

Al Jazeera obtains measures over jailed journalist

14 March 2019

An ICSID tribunal has recommended that Egypt grant Al Jazeera necessary access to an imprisoned journalist and ensure his humane treatment so that he can testify in an arbitration concerning an alleged state campaign of harassment against the Qatari broadcaster.

EU countries to cancel BITs post-Achmea

EU countries to cancel BITs post-Achmea

17 January 2019

UPDATED. Member states of the European Union have agreed to terminate their intra-EU bilateral investment treaties to comply with the Achmea judgment – while a majority of them have also agreed to take steps to prevent intra-EU investor-state arbitrations being filed under the Energy Charter Treaty.

Pakistan faces payout over Sharif asset hunt

Pakistan faces payout over Sharif asset hunt

20 July 2018

A hearing on damages has taken place in a politically sensitive case against Pakistan worth at least US$600 million, brought by a company that was hired to track down the assets of the country’s disgraced former prime minister Nawaz Sharif.

Driller wins against Petrobras after bribery defence fails

Driller wins against Petrobras after bribery defence fails

Premium article - 03 July 2018

A Cayman offshore drilling company has asked a US court to enforce a US$622 million ICDR award against Petrobras over the early termination of a contract that the Brazilian state-owned company alleges was procured through bribery.

Bruising loss for South Korea at hands of Iranian investors

Bruising loss for South Korea at hands of Iranian investors

Premium article - 08 June 2018

In what has been reported as the first loss for South Korea in an investment treaty case, the family behind an Iranian consumer electronic group has been awarded US$68 million – 99% of the total sum sought – for South Korea's termination of a deal for the purchase of the bankrupt Daewoo Group.

Russian fraud suit restrained but West Tankers stands

Russian fraud suit restrained but West Tankers stands

Premium article - 07 June 2018

An English court has restrained a recently nationalised Russian bank from pursuing a US$600 million fraud claim through litigation in Moscow rather than in LCIA arbitration, while ruling it has no power to enjoin related court proceedings in Cyprus because the European Court of Justice’s decision in West Tankers still applies.