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Enforcement and Set-Aside

Petrobras pays but vows to fight on

Petrobras pays but vows to fight on

24 June 2019

Brazilian state oil and gas company Petrobras has paid over US$700 million to satisfy an award in favour of an offshore drilling contractor whom it accused of corruption – while retaining its right to appeal the confirmation of the award in the US courts.

“Alter ego” seeks foreign assistance in Moroccan hotel dispute

“Alter ego” seeks foreign assistance in Moroccan hotel dispute

20 June 2019

A US court has sought judicial assistance from Dutch and Luxembourg authorities in procuring evidence to support a Delaware holding company’s defence that it is not liable for a US$59 million ICC award arising from a dispute over a luxury hotel in Morocco.

EU court lifts bar to payment of Micula award

EU court lifts bar to payment of Micula award

18 June 2019

The General Court of the European Union has annulled a decision by the European Commission that prohibited Romania from paying a €178 million ICSID award in favour of Sweden’s Micula brothers on the basis of state aid rules.

Dentons targets client’s Congo award in fee dispute

Dentons targets client’s Congo award in fee dispute

13 June 2019

Dentons and the global head of its international arbitration group have asked a court in Delaware for permission to recover unpaid fees from a client by forcing the sale of a US$96 million ICC award that the law firm helped it obtain in a dispute with the Democratic Republic of the Congo.

Russia fails to suspend enforcement of Crimea award

Russia fails to suspend enforcement of Crimea award

12 June 2019

The Hague Court of Appeal has rejected an application by Russia to suspend enforcement of a US$159 million award compensating Ukrainian investors for expropriated real estate in Crimea – finding the state had not shown that its bid to set aside the award had a high probability of success.

Brazilian airline’s Cayman enforcement appeal blocked

Brazilian airline’s Cayman enforcement appeal blocked

10 June 2019

The Court of Appeal of the Cayman Islands has refused to grant a Brazilian airline leave to appeal a decision denying enforcement of a US$55 million ICC award issued a decade ago – ruling it was “plain” that two private equity funds that were found liable were not parties to the arbitration agreement.

Award against state fertiliser company enforced in Ukraine

Award against state fertiliser company enforced in Ukraine

10 June 2019

The Kiev Court of Appeal has enforced a US$260 million Stockholm Chamber of Commerce award against the Ukrainian state-owned operator of a fertiliser plant on the coast of the Black Sea.

Zambian state entity fails to revive derivative claim

Zambian state entity fails to revive derivative claim

07 June 2019

An English court has upheld an UNCITRAL tribunal's decision to bar a Zambian state-owned entity from pursuing a derivative claim against a subsidiary of Canadian mining company First Quantum on behalf of their joint venture vehicle.

Russia challenges Crimea awards and changes strategy

Russia challenges Crimea awards and changes strategy

06 June 2019

Russia has applied to the Swiss courts to annul a pair of investment treaty awards in favour of Ukrainian investors who had their assets seized in Crimea – as the state announces it has reversed its policy of not participating in arbitrations arising from its annexation of the territory five years ago.

Steinmetz group fights US$2 billion award in UK and US

Steinmetz group fights US$2 billion award in UK and US

05 June 2019

A Guernsey mining company founded by Israeli billionaire Beny Steinmetz has asked an English court to set aside a US$2 billion LCIA award relating to a project in Guinea while it seeks to forestall enforcement in the US – as more details emerge about the reported settlement of a related ICSID case.