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Enforcement and Set-Aside

Steelmaker's award against Venezuela enforced in the US

Steelmaker's award against Venezuela enforced in the US

18 June 2020

A US court has enforced a US$248 million ICSID award against Venezuela, the first of two awards won by a Luxembourg steelmaker following the nationalisation of the country’s steel industry.

Uruguay telecoms fight shifts to new front

Uruguay telecoms fight shifts to new front

17 June 2020

A US company’s bid to revive a US$65 million claim against Uruguay has been discontinued at ICSID, but the claimant’s owner has threatened the state with a new treaty claim.

Undisclosed expert ties prove fatal to ICSID award

Undisclosed expert ties prove fatal to ICSID award

12 June 2020

Spain has persuaded an ICSID committee to annul a €128 million award in favour of a solar power investor on the basis of arbitrator Stanimir Alexandrov’s failure to disclose a longstanding professional relationship with one of the claimant’s expert witnesses from the Brattle Group.

Indian utility sees award upheld in Indonesia

Indian utility sees award upheld in Indonesia

12 June 2020

An Indonesian court has reportedly dismissed a challenge to a US$68 million SIAC award in favour of a subsidiary of India’s Reliance Power over three coal-mining concessions.

Hourani brothers settle with Kazakhstan

Hourani brothers settle with Kazakhstan

09 June 2020

Kazakhstan has settled two ICSID cases brought by brothers who alleged their oil and pharmaceutical businesses were subject to a campaign of harassment due to their connection to a political rival of the state’s former president.

ICC award enforced in India after two-decade saga

ICC award enforced in India after two-decade saga

09 June 2020

The Indian Supreme Court has enforced an ICC award rendered against a state entity nearly 20 years ago, rejecting arguments that a sole arbitrator’s refusal to extend a filing deadline in the wake of the 9/11 terrorist attacks prevented the award debtor from effectively presenting its case.

Egypt gets stay of US$2 billion award

Egypt gets stay of US$2 billion award

09 June 2020

A US court has stayed the enforcement of a US$2 billion ICSID award against Egypt while the state pursues annulment proceedings – noting the potential impact on the country’s finances while it faces an economic crisis exacerbated by the coronavirus pandemic.

Libya overturns billion-dollar award

Libya overturns billion-dollar award

04 June 2020

UPDATED: A Cairo court has set aside a US$1 billion investment treaty award won by a Kuwaiti construction company against Libya, in a dispute over a contract to turn a Tripoli suburb into a tourist hotspot.

Dual nationals’ award against Venezuela set aside

Dual nationals’ award against Venezuela set aside

03 June 2020

A French court has ruled that a jurisdictional award favouring two dual nationals in an investment treaty claim against Venezuela must be set aside in its entirety because the claimants were not Spanish nationals at the time they made their initial investments.

Gazprom seeks set-aside of gas pricing award in Sweden

Gazprom seeks set-aside of gas pricing award in Sweden

03 June 2020

Russia’s Gazprom has applied to a Swedish court to set aside an award in favour of Poland’s state gas utility PGNiG that fixed a new gas price formula reportedly worth US$1.5 billion.