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Pakistan fails to set aside asset hunter’s award

Pakistan fails to set aside asset hunter’s award

16 July 2019

The Commercial Court in London has rejected Pakistan’s bid to set aside a US$22 million damages award in favour of an Isle of Man entity that it hired nearly two decades ago to trace assets belonging to the country’s disgraced former prime minister Nawaz Sharif.

UK court affirms power to restrain foreign arbitrations

UK court affirms power to restrain foreign arbitrations

16 July 2019

The English courts can restrain a foreign-seated arbitration on the grounds that it is vexatious or oppressive, the Court of Appeal in London has confirmed – in a dispute between heirs to the co-founder of the largest engineering and construction business in the Middle East.

Fukushima plant operator liable but escapes bulk of damages

Fukushima plant operator liable but escapes bulk of damages

16 July 2019

An ICC tribunal has found a Japanese state-owned utility liable for terminating a uranium supply contract in the wake of the disaster at the Fukushima nuclear power plant eight years ago, while dismissing the bulk of a US$700 million damages claim.

Claim against Iraq proceeds amid collusion allegations

Claim against Iraq proceeds amid collusion allegations

15 July 2019

An ICSID tribunal has partially upheld jurisdiction over a US$800 million claim against Iraq in relation to its alleged expropriation of a Kurdistan-based mobile phone operator – amid allegations of collusion between local shareholders and officials from the state’s regulatory body.

VIAC becomes second institution licensed in Russia

VIAC becomes second institution licensed in Russia

15 July 2019

The Vienna International Arbitration Centre has become the second foreign institution licensed to administer commercial cases in Russia.

Pakistan liable for billions over mining project

Pakistan liable for billions over mining project

15 July 2019

An ICSID tribunal has ordered Pakistan to pay US$5.9 billion to an Australian mining venture for the denial of a lease to mine a valuable copper and gold deposit – thought to be the second-largest award ever handed down by a tribunal at the centre.

Gazprom settles Turkmen gas-pricing dispute

Gazprom settles Turkmen gas-pricing dispute

15 July 2019

Russia’s Gazprom has signed a new supply deal with Turkmenistan’s state-owned gas producer Turkmengaz after settling a US$5 billion pricing dispute that had been playing out at the Stockholm Chamber of Commerce.

UK court orders Gazprom to hand over pipeline dividends

UK court orders Gazprom to hand over pipeline dividends

12 July 2019

The Commercial Court in London has ordered that Gazprom should post US$145 million in dividends from the Nord Stream pipeline as security while it continues to challenge a US$2.56 billion SCC award in the Swedish courts.

Switzerland must post security for release of vessel and crew

Switzerland must post security for release of vessel and crew

12 July 2019

A UN court in Hamburg has ruled that Switzerland must post a bond of US$14 million to secure the immediate release of an oil tanker and four of its crew detained by the Nigerian navy more than a year ago, until an arbitral tribunal decides whether their detention violated the law of the sea.

FILM: Van den Berg pays tribute to Böckstiegel at GAR Awards

FILM: Van den Berg pays tribute to Böckstiegel at GAR Awards

12 July 2019

Shortly before Karl-Heinz Böckstiegel was handed the lifetime achievement award at the 2019 GAR Awards in Paris, Dutch arbitrator Albert Jan van den Berg took the stage to pay tribute to a friend and colleague he called a “truly remarkable man”.