Work Area: Commercial arbitration

Ghana’s central bank sees off LCIA claim

An LCIA tribunal has dismissed a US$480 million arbitration against the Bank of Ghana over a cancelled payments systems project after the claimant failed to post security for costs – a dispute that saw the bank raise allegations of fraud and corruption.

25 August 2021

French Council of State upholds Engie award

France’s supreme administrative court has upheld a €33 million ICC award in favour of a subsidiary of French utility Engie in a long-running dispute over the construction of an LNG terminal – affirming that the dismissal of a set-aside application is equivalent to an enforcement order.

24 August 2021

Kazakh road authority beats bulk of ICC claim

Kazakhstan’s road authority has largely escaped a more than US$200 million ICC claim brought by Turkish contractors over a motorway project that forms part of China’s Belt and Road initiative.

23 August 2021

Arbitrator resigns from Brazilian pulp case

Brazilian arbitrator Anderson Schreiber has resigned from an ICC tribunal hearing a multibillion-dollar dispute over the sale of a pulp producer, while criticising one side for only raising an alleged conflict of interests during set-aside proceedings.

23 August 2021

ArcelorMittal targets Essar “alter ego” over billion-dollar award

Luxembourg-based steelmaker ArcelorMittal has filed a new suit in a New York federal court to unwind allegedly fraudulent transfers made by Indian conglomerate Essar to avoid enforcement of a US$1.4 billion ICC award.

20 August 2021

Covid plea fails to blunt razor award

A Swiss court has upheld an LCIA award against the majority shareholder of an Indian razor manufacturer, rejecting arguments that the arbitrators should have postponed a hearing in light of the covid-19 pandemic.

20 August 2021

Swiss funder backs HKIAC claim against crypto exchange

A recently launched Swiss disputes funder is backing a “landmark” HKIAC claim that a group of traders are preparing against cryptocurrency exchange Binance for losses they incurred when its platform crashed.

19 August 2021

Hong Kong court enforces against Chinese state entity

A Hong Kong court has enforced a Lebanese steel trader’s LCIA award against a Chinese state-owned entity that was found to have used “guerrilla tactics” in the arbitration after its parent company went bankrupt.

17 August 2021

Mega-award against Chevron blocked again in US

The heirs of a Saudi official have once again failed to enforce an US$18 billion award against Chevron in the United States, as their counsel face the prospect of court sanctions for allegedly relying on a “fabricated” news article.

17 August 2021

Algerian cement projects lead to parallel claims

Panels are in place to hear an Egyptian investment company’s US$900 million treaty claim against Algeria over two cement projects and a related ICC dispute with a state entity.

16 August 2021

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