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English court approves payment scheme for Ukrainian bank’s bondholders

English court approves payment scheme for Ukrainian bank’s bondholders

24 March 2020

The High Court in London has ruled that a trustee for US$375 million in defaulted eurobonds issued on behalf of a Ukrainian bank can follow an LCIA tribunal’s directions to pay certain bondholders and not others.

US court wants clarity on Turkey's discovery bid for ICSID case

US court wants clarity on Turkey's discovery bid for ICSID case

24 March 2020

A New Jersey court has ordered Turkey to provide further details about its discovery request to support its defence of an ICSID claim over the alleged expropriation of an anti-government newspaper – including whether the tribunal is receptive to admitting the evidence.

PCA hears elevator claim against South Korea

PCA hears elevator claim against South Korea

23 March 2020

A tribunal is in place at the Permanent Court of Arbitration to hear a Swiss elevator-maker’s US$200 million investment treaty claim against South Korea.

Grenada ordered to repurchase stake in electric utility

Grenada ordered to repurchase stake in electric utility

23 March 2020

An ICSID tribunal has issued an award worth over US$65 million against Grenada, ordering the state to repurchase a 50% shareholding in its national electricity provider after it passed legislation that ended the utility’s monopoly position.

New co-chairs for ICC Belt and Road commission

New co-chairs for ICC Belt and Road commission

23 March 2020

The ICC International Court of Arbitration has appointed two new co-chairs for its Belt and Road commission to replace departing chair Justin D’Agostino.

Brazilian beef company faces corruption claim

Brazilian beef company faces corruption claim

23 March 2020

Shareholders in Brazilian beef packer JBS have filed for arbitration with the company and the billionaire brothers who control it, seeking US$280 million in damages caused by alleged illegal activities spanning a decade.

Canada rushes through USMCA approval before coronavirus closure

Canada rushes through USMCA approval before coronavirus closure

20 March 2020

Canada has become the final country to ratify the US-Mexico-Canada trade agreement, USMCA, after the state’s parliament rushed through legislation before a three-week closure to help stop the spread of the coronavirus.

Witness must testify in Central Asian bribery dispute

Witness must testify in Central Asian bribery dispute

20 March 2020

The English Court of Appeal has ruled that a UK-based witness can be compelled to give evidence in a New York-seated arbitration over alleged bribes paid to a Central Asian government despite the fact that he is not a party to the arbitration agreement.

FILM: Justice Rohinton Nariman’s keynote speech at GAR Live India

FILM: Justice Rohinton Nariman’s keynote speech at GAR Live India

20 March 2020

Justice Rohinton Nariman – the “face of public confidence” in the Supreme Court in India – delivered the keynote speech at GAR Live India. A video of his speech is now available.

“A thousand yearnings”: Do India’s reforms go far enough?

“A thousand yearnings”: Do India’s reforms go far enough?

20 March 2020

At GAR Live India in Delhi, a panel considered the country’s recent arbitration reforms and whether they represent a missed opportunity. Haaris Fazili of DMD Advocates reports.