Work Area: Commercial arbitration

Dos Santos telecoms award enforced in BVI

The High Court of the British Virgin Islands has enforced a US$646 million award against a company owned by beleaguered Angolan billionaire Isabel dos Santos, finding that the ICC Court was right to appoint all five members of the arbitral tribunal itself.

18 August 2020

The new LCIA rules – worth the wait?

Akin Gump’s London-based head of arbitration Justin Williams and counsel James Glaysher consider the updated version of the LCIA’s arbitration rules which come into force on 1 October.

17 August 2020

ICC to hear breast cancer drug dispute

A Los Angeles biopharmaceutical company has launched an ICC claim over a US$195 million licence agreement to promote a breast cancer drug in Greater China.

14 August 2020

Clyde & Co hit with injunction over 1MDB allegations

A subsidiary of Venezuela’s national oil and gas company PDVSA has obtained an English court injunction to prevent Clyde & Co from transferring US$340 million to a Saudi-owned client to comply with an UNCITRAL award – amid allegations linking the client to funds stolen from Malaysian sovereign wealth fund 1MDB.

13 August 2020

Western Australia scrambles to halt mega-claim

An Australian mining magnate is seeking as much as US$21 billion in a domestic arbitration against Western Australia, as the state government scrambles to pass emergency legislation that would terminate the proceeding.

12 August 2020

Loan fraud suit proceeds in Caribbean court

A court in the Caribbean island nation of Saint Kitts and Nevis has refused to strike out litigation against a US businessman accused of overseeing an elaborate stock loan fraud scheme – despite his arguments that the Singapore courts have already determined the dispute should be heard in arbitration.

10 August 2020

Timor Sea oil block dispute settles

An Asian-Australian consortium has settled a US$45 million ICC dispute with an East Timor government authority over a petroleum block in the Timor Sea.

07 August 2020

Panel rules against Korea in bridge dispute

A bridge concessionaire says it has prevailed in an ICC dispute with South Korea over the interpretation of a non-compete clause in its contract and its entitlement to compensation following the approval of a rival project.

05 August 2020

Georgia sees billion-dollar dispute come into port

Georgia is facing parallel ICC and ICSID claims collectively worth more than US$1 billion over its cancellation of a contract to develop a deep-water port.

30 July 2020

Claims filed over multibillion-euro eyewear merger

Franco-Italian eyewear group EssilorLuxottica is facing a pair of arbitrations over its planned €5.5 billion purchase of a rival Dutch brand, after raising concerns about measures taken by the target company to mitigate the impact of covid-19.

30 July 2020

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