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Elevator maker’s claim against South Korea lifts off

Elevator maker’s claim against South Korea lifts off

16 October 2018

Swiss based elevator maker Schindler has filed a US$300 million investment treaty claim against South Korea, accusing the state’s financial regulators of illegally approving capital increases in a Hyundai elevator business in which it holds a stake.

Freeze on proceeds of SIAC claim upheld in Australia

Freeze on proceeds of SIAC claim upheld in Australia

15 October 2018

A court in Western Australia has upheld a US$14 million freezing order against a Spanish-owned construction company that prevents it from disposing of the prospective proceeds of a SIAC arbitration against Samsung.

ICC rejects challenge based on arbitrator’s age

ICC rejects challenge based on arbitrator’s age

15 October 2018

76-year old Swedish arbitrator Sigvard Jarvin has survived an attempt to disqualify him as chair of a billion-dollar construction dispute at the ICC on the grounds that his age meant there was a risk he would fail to finish hearing the case and that the costs of insuring against such an event were prohibitive.

Rail operator settles NAFTA claim

Rail operator settles NAFTA claim

15 October 2018

A Denver-based transport company has settled its US$118 million NAFTA claim against Canada concerning a shuttered port and railway line affected by flooding.

Hong Kong court agrees to wait to consider CIETAC award

Hong Kong court agrees to wait to consider CIETAC award

15 October 2018

A Hong Kong court has sided with a Beijing-based subsidiary of an oil and gas company and agreed to wait to consider whether to set aside an order for the enforcement of a US$20 million CIETAC award until after the outcome of a challenge to the award in mainland China.

Peru escapes prison claim

Peru escapes prison claim

12 October 2018

Peru has defeated a US$50 million UNCITRAL claim brought by a Spanish investor over the withdrawal of its concession for the construction and management of the country’s first private prison.

Ghana pays in power barge dispute

12 October 2018

Ghana has paid a US$13 million award to UK company Balkan Energy in a power barge dispute in which the original claim was US$3 billion, leading the parties to request that cross-appeals in relation to the award be dismissed.

Rusoro and Venezuela reach billion-dollar settlement

Rusoro and Venezuela reach billion-dollar settlement

12 October 2018

Canadian mining company Rusoro has agreed a US$1.3 billion settlement with Venezuela to satisfy an ICSID additional facility award it secured two years ago – the latest in a number of recent settlements reached by the beleaguered Latin American state.

New disputes firm launches in Washington, DC

New disputes firm launches in Washington, DC

12 October 2018

A former Paul Hastings arbitration practitioner has launched his own practice in Washington, DC, which is twinned with a former colleague’s firm in São Paulo and already working on cases arising from the Lava Jato corruption scandal in Brazil.

Dung and dusted – Peru wins case over guano bonds

Dung and dusted – Peru wins case over guano bonds

11 October 2018

The US Supreme Court has rejected a company’s attempt to revive a US$11 billion claim against Peru over bonds issued to an exporter of sea bird excrement, or “guano”, 140 years ago notwithstanding a 1901 arbitral award that held their value had been recovered.