Work Area: Commercial arbitration

Perenco secures freeze on Ecuador accounts in Luxembourg

Bahamian oil company Perenco has frozen Luxembourg bank accounts used by Ecuador to make coupon payments associated with sovereign bonds, with the ICSID award holder claiming this raises the possibility of the state defaulting to creditors.

01 August 2022

Brazilian billionaire’s New York assets frozen

A federal court in New York has attached the assets of one of Brazil’s wealthiest men at the request of an infrastructure group trying to enforce a US$41 million award issued in an arbitration in São Paulo.

01 August 2022

ICDR claim against Kazakhstan fizzles out

An ICDR panel has terminated a claim against Kazakhstan brought by a controversial businessman who has been accused of helping to launder US$440 million in stolen funds from the country.

29 July 2022

SIAC award survives coercion allegations

A mining executive and his son who alleged they were coerced at knifepoint into settling a joint venture dispute while suffering from mental illness have lost their challenge to a US$12 million SIAC award in Singapore.

29 July 2022

“Side-switching” challenge rejected on appeal

A Spanish contractor has failed in a renewed bid to overturn a US$40 million ICC award over a Peruvian refinery on the basis that two members of its counsel team joined the opposing side’s law firm while the arbitration was pending – as a separate dispute over a US$1 billion project in Algeria gets underway.

27 July 2022

Force majeure issues in today’s gas market

Michelle Bock, Max Rockall, George von Mehren and Stephen Anway of Squire Patton Boggs consider issues of force majeure in the context of Gazprom’s sharp reduction in supplies of gas to Europe.

27 July 2022

Moser award set aside over “flexible approach” to damages

Singapore’s Court of Appeal has partially set aside a €62 million ICC award over a Malaysian steel plant after finding that a tribunal chaired by Michael Moser breached due process by adopting a “flexible approach” to proof of damage.

26 July 2022

Media dispute wrapped up in Milan

An Italian media group has settled a dispute over the €120 million sale of its historic headquarters to Blackstone after it failed to set aside an award issued in favour of the US private equity group by a Milan-seated tribunal.

22 July 2022

Crypto fund collapse produces billion-dollar claim

A Singapore-based currency trader has filed a US$2.4 billion ICDR claim seeking to recover loans issued to a crypto hedge fund that it says suffered an “unprecedented implosion” following market volatility.

21 July 2022

Singapore company announces win against telecoms partner

A Singaporean technology company says it has won a favourable AAA award against its former partner in a Brazilian mobile network.

21 July 2022

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