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Enforcement and Set-Aside

Roadworks award enforced against Kyrgyz ministry

Roadworks award enforced against Kyrgyz ministry

18 October 2019

A Turkish construction company has had an UNCITRAL award against a Kyrgyz ministry enforced by a court in Washington, DC, after conceding it was only worth US$25 million including interest and not US$2 billion as it initially claimed.

US courts continue to show restraint over “manifest disregard” doctrine

US courts continue to show restraint over “manifest disregard” doctrine

14 October 2019

Hughes Hubbard & Reed’s co-chair of international arbitration Hagit Elul and associate Olivia Bensinger in New York consider a recent decision showing that US courts continue to exercise restraint when it comes to applying the controversial doctrine of “manifest disregard of the law” as a basis for vacating an arbitral award.

Guatemala faces treaty claim over electric tariffs

Guatemala faces treaty claim over electric tariffs

07 October 2019

Guatemala has been threatened with an investment treaty claim over electricity tariffs – while another energy investor has seen its US$21 million ICSID award against the state confirmed in the US.

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.

Perenco applies to enforce as Ecuador seeks annulment

Perenco applies to enforce as Ecuador seeks annulment

03 October 2019

Days after winning a net sum of US$411 million in a claim against Ecuador over a tax on windfall oil profits, Bahamian oil company Perenco has asked a US court to enforce the award – as the state applies to ICSID to have it annulled.

Sierra Leone faces bid to enforce ICC emergency relief

Sierra Leone faces bid to enforce ICC emergency relief

03 October 2019

A subsidiary of a London-based commodity trader has applied to a US court to confirm an ICC emergency arbitrator order that directs Sierra Leone to lift measures prohibiting the export of high-grade iron ore – a dispute that has also given rise to the threat of an ICSID claim.

Italy and Spain fight ECT awards

Italy and Spain fight ECT awards

03 October 2019

In two Energy Charter Treaty disputes relating to reforms to their renewable energy regimes, Italy is facing a bid by a Dutch investor to enforce an €11 million SCC award in the US courts, while Spain has applied to ICSID to annul a US$290 million award in favour of Florida-based NextEra Energy.

Bankrupt Serbian steel company staves off enforcement

Bankrupt Serbian steel company staves off enforcement

02 October 2019

A Dutch engineering company has abandoned efforts to collect on a US$12.4 million LCIA award against a Serbian state-owned steel company in the US courts after enforcement was stayed by order of New York bankruptcy judge.

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.