• Search

Enforcement and Set-Aside

ArcelorMittal seeks to enforce billion dollar award

ArcelorMittal seeks to enforce billion dollar award

17 January 2018

The world’s largest steel company ArcelorMittal has asked a US court to enforce a US$1.4billion ICC award against Indian conglomerate Essar arising from a Minneapolis-seated arbitration.

Kazakhstan faces multibillion-dollar asset freeze

Kazakhstan faces multibillion-dollar asset freeze

09 January 2018

A Dutch court has refused to lift an attachment on US$5.2 billion in assets held by a Kazakhstan sovereign wealth fund – as the state fights to unblock a further US$22.6 billion frozen as a result of enforcement efforts by an arbitral creditor.

Ukrainian oligarch's assets frozen in Cyprus

Ukrainian oligarch's assets frozen in Cyprus

05 January 2018

With an LCIA award worth US$820 million against him still unsatisfied‎, a Cyprus court has frozen the worldwide assets of Ukraine's richest oligarch Rinat Akhmetov – including an apartment in one of London's most expensive developments overlooking Hyde Park. 

PDVSA company wins appeal over transfer of US assets

PDVSA company wins appeal over transfer of US assets

04 January 2018

A Delaware appeal court has ruled that a US subsidiary of Venezuela’s national oil and gas company PDVSA did not commit a “fraudulent transfer” when it moved US$2.8 billion of assets out of the United States in an alleged bid to evade the country’s ICSID creditors.

Yukos shareholders fail again in Baker Botts discovery bid

Yukos shareholders fail again in Baker Botts discovery bid

12 December 2017

The former majority shareholders in Yukos have again failed to convince a US court to compel discovery from Baker Botts that would supposedly support allegations that the firm helped a Russian state-owned oil company manipulate the rulings of Armenian judges in Yukos-related proceedings.

English court rejects Ukrainian mall awards challenge

English court rejects Ukrainian mall awards challenge

08 December 2017

The High Court in London has rejected an attempt by a British Virgin Islands company to set aside three LCIA awards which ordered it to hand over its ownership of a Ukrainian shopping centre.

Mauritian state entity hit with cargo freeze in India

Mauritian state entity hit with cargo freeze in India

05 December 2017

A shipping company attempting to enforce a US$120 million SIAC award has secured an interim order from an Indian court preventing the transport of petroleum products from India to Mauritius, despite protests that a lack of available petrol is damaging the Indian Ocean state.

Koch begins US enforcement action against Venezuela

Koch begins US enforcement action against Venezuela

05 December 2017

After winning US$409 million in an ICSID claim against Venezuela over an expropriation in the fertiliser sector, two companies controlled by prominent US businessmen Charles and David Koch have applied to a court in Washington, DC, to enforce the award.

Dutch court declines enforcement of set aside award

Dutch court declines enforcement of set aside award

28 November 2017

The Supreme Court of the Netherlands has refused to enforce an arbitral award in favour of Russian metals billionaire Nikolay Maximov that has been set aside in Russia – but confirmed the power of the Dutch courts to do so in limited circumstances.

Venezuela settles with Crystallex

Venezuela settles with Crystallex

27 November 2017

Distressed Canadian mining company Crystallex has reached a potentially record-breaking settlement with Venezuela over a US$1.39 billion ICSID award – a deal that will likely mean significant returns for the private equity firm that funded the arbitration.