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Enforcement and Set-Aside

English court to rule on ownership of Kazakh assets

English court to rule on ownership of Kazakh assets

07 December 2018

The Commercial Court in London has ruled that it has jurisdiction to decide issues relating to the ownership of US$530 million in funds that were frozen by the Belgian courts in support of a bid to enforce an Energy Charter Treaty award against Kazakhstan.

Award upheld in battle of banks

Award upheld in battle of banks

06 December 2018

A Nigerian "bad bank" has failed in an attempt to set aside an LCIA award won by Qatar National Bank in a dispute over share dividends, after the Commercial Court in London held that the challenge was “no more than a thinly disguised attack on the correctness of findings made by the tribunal.”

Egyptian state entities face enforcement bid despite settlement

Egyptian state entities face enforcement bid despite settlement

03 December 2018

An Egyptian company has applied to a US court to enforce an ICC award ordering two Egyptian state entities to pay it US$367 million including interest for terminating a deal to supply gas to Israel – despite a recent settlement agreement involving a number of its shareholders.

Venezuela pays ICSID creditor to protect US refinery business

Venezuela pays ICSID creditor to protect US refinery business

28 November 2018

Venezuela has paid US$500 million to distressed Canadian mining company Crystallex to partially satisfy a US$1.4 billion ICSID award – as part of a renegotiated settlement deal that will allow the country’s national oil and gas company PDVSA to keep control of US-based refiner Citgo Petroleum.

Lesotho defeats mining investors in Singapore

Lesotho defeats mining investors in Singapore

27 November 2018

The Singapore Court of Appeal has rejected a bid by a group of South African mining investors to reinstate an investment treaty award that held Lesotho liable for its role in the disbanding of an African regional dispute resolution body.

English ruling brings end to Laos enforcement saga

English ruling brings end to Laos enforcement saga

23 November 2018

The Commercial Court in London has set aside an order to enforce a US$56 million UNCITRAL award against Laos – marking the end of an 11-year dispute that also gave rise to proceedings in New York, Paris, Singapore and Malaysia.

Hong Kong award remitted for serious irregularity

Hong Kong award remitted for serious irregularity

20 November 2018

The Hong Kong Court of First Instance has partially remitted an HKIAC award in a construction dispute to a sole arbitrator for reconsideration after finding it was marred by serious irregularity.

Kazakhstan gets more time to plead fraud in Amsterdam

Kazakhstan gets more time to plead fraud in Amsterdam

16 November 2018

A Dutch court has ordered further briefing on an application to enforce a US$530 million Energy Charter Treaty award against Kazakhstan so that the state can present more evidence to support its claim that the award was obtained fraudulently.

ICC seeks clarity after clause deemed unenforceable in Russia

ICC seeks clarity after clause deemed unenforceable in Russia

16 November 2018

In the wake of a judgment of the Russian Supreme Court holding a standard ICC arbitration clause to be unenforceable under Russian law, the ICC International Court of Arbitration has sought clarification of the reasoning behind the unexpected decision.

Greece faces renewed bid to enforce Olympics award

Greece faces renewed bid to enforce Olympics award

14 November 2018

A US defence contractor has asked a New York court for leave to begin attaching Greece’s US assets to satisfy a €48 million ICC award relating to a project commissioned for the 2004 Olympic Games that has been dogged by allegations of corruption.