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Enforcement and Set-Aside

Conoco faces bid to annul US$9 billion Venezuela award

Conoco faces bid to annul US$9 billion Venezuela award

11 December 2019

Venezuela's government-in-exile has applied to annul a US$9 billion ICSID award won by US oil company ConocoPhillips over the expropriation of oil assets in the Orinoco Belt – while it argues before a Delaware court that the state's assets are shielded from other arbitral creditors because of the US sanctions regime.

Billion-dollar mining fraud award upheld in London

Billion-dollar mining fraud award upheld in London

02 December 2019

The Commercial Court in London has rejected an application by a Guernsey mining company founded by Israeli billionaire Beny Steinmetz to set aside a US$2 billion LCIA award that found an iron ore concession in Guinea was procured using bribes.

Malaysia's 1MDB wins appeal over challenge to LCIA settlement

Malaysia's 1MDB wins appeal over challenge to LCIA settlement

27 November 2019

The Court of Appeal in London has ruled that Malaysian sovereign wealth fund 1MDB can proceed with an application to set aside an allegedly fraudulent settlement of an LCIA arbitration with an Abu Dhabi government-owned entity amid a scandal over billions of dollars in misappropriated funds.

Bottlemaker fails to revive ICSID claim against Venezuela

Bottlemaker fails to revive ICSID claim against Venezuela

25 November 2019

A bottlemaker has failed to revive a billion-dollar treaty claim against Venezuela that was dismissed for having been filed after the state's denunciation of the ICSID Convention.

Heilbron rejects fraud claim against drone developer

Heilbron rejects fraud claim against drone developer

21 November 2019

British arbitrator Hilary Heilbron QC has thrown out claims by a leading US supplier of tactical military radio equipment that it was fraudulently induced into signing a distribution deal with a Canadian developer of drones.

UK Supreme Court hears appeal over arbitrator disclosure

UK Supreme Court hears appeal over arbitrator disclosure

13 November 2019

In a closely-watched appeal on whether an arbitrator should have disclosed his involvement in overlapping insurance cases arising from the Deepwater Horizon disaster in the Gulf of Mexico, the UK Supreme Court has been warned that English law on the issue is “out of step” with international practice.

Dutch court sets aside PDVSA award because of corruption

Dutch court sets aside PDVSA award because of corruption

06 November 2019

The Court of Appeal in The Hague has set aside an ICC award against a subsidiary of Venezuela’s state-owned oil and gas company PDVSA on the ground that the underlying contract was procured through corruption.

Guaidó fails to halt US enforcement against Venezuela

Guaidó fails to halt US enforcement against Venezuela

06 November 2019

Venezuelan opposition leader Juan Guaidó has failed to persuade a US court to stay the enforcement of an ICSID award worth over US$400 million – after the court said it “may take years” to stabilise the country and transition to another political regime.

ICSID committee lifts stay on Spain solar award

ICSID committee lifts stay on Spain solar award

Premium article - 30 October 2019

An ICSID annulment committee has lifted a stay of enforcement of an €101 million Energy Charter Treaty award against Spain – labelling the state’s arguments on conflicting international laws a “legal quagmire” of its own making.

Naftogaz freezes Gazprom assets in “fraudulent conveyance” claim

Naftogaz freezes Gazprom assets in “fraudulent conveyance” claim

Premium article - 28 October 2019

A Dutch court has agreed to freeze shares in a Gazprom subsidiary while it hears claims by Ukraine’s Naftogaz that the Russian oil company fraudulently transferred those shares to evade payment of a US$2.56 billion SCC award.