Work Area: Commercial arbitration

Iranian state entity can’t appeal US$2.4 billion award

A London court has refused to allow Iran’s national oil company to appeal a US$2.4 billion award on a point of law while rejecting arguments the state entity had waived its right to bring such an appeal.

12 July 2022

“Bitcoin Jesus” faces HKIAC claim

A cryptocurrency exchange has launched an US$84 million HKIAC claim against a prominent investor known as “Bitcoin Jesus” after he allegedly failed to pay back money owed on his account.

11 July 2022

UK court pauses bid to enforce contraceptives award

An Irish pharmaceutical company seeking to enforce an ICC award over intellectual property rights for oral contraceptive products must wait for a Dutch court to decide on a set-aside application, an English judge has ruled.

08 July 2022

Ecuadorean tram disputes reach end of the line

Spanish and French consortiums have won damages – though far less than they sought – in two ICC disputes worth a combined US$75 million with an Ecuadorean municipality over the troubled construction of a tram line through a UNESCO-listed city centre.

07 July 2022

Eni entity faces claim over Nigerian joint venture

A Nigerian energy company is pursuing a US$272 million claim against a subsidiary of Italian multinational Eni over a joint venture in the Niger Delta that has reportedly spawned a US$2.2 billion counterclaim.

05 July 2022

Future fails to secure early dismissal of Amazon claim

Indian conglomerate Future Group has failed to secure the early dismissal of a SIAC claim brought by Amazon over a US$3.4 billion asset sale on the basis of a parallel decision by a competition authority.

29 June 2022

Dispute over sunken Venezuelan patrol boat must be arbitrated

Venezuela must arbitrate a €425 million dispute with the owners and insurer of a cruise ship over a bizarre maritime showdown that resulted in the sinking of a navy patrol boat, a London court has ruled, while refusing to block the state from pursuing foreign parallel litigation.

29 June 2022

LCIA award cancels debts to Russia’s Sberbank in refinery dispute

A Swiss oil trader says it has won an LCIA award that cancels debts of over US$1 billion to Russia’s Sberbank after the majority state-owned financial institution was found to have driven a Siberian refinery into bankruptcy.

27 June 2022

Another solar investor brings claim against Argentine grid manager

A subsidiary of a Spanish-British renewables producer has launched the latest in a series of UNCITRAL claims against Argentina’s electricity market manager at the Permanent Court of Arbitration, as another such case is discontinued.

24 June 2022

Copacabana kickabout cited in conflict challenge

A Brazil v Rest of the World football match organised as part of the ICCA Congress in Rio de Janeiro over a decade ago has been cited as part of a failed bid to annul an award in a €70 million ICC dispute, after it was argued that Italian arbitrator Stefano Azzali should have disclosed he played in the game alongside one of the lead counsel.

22 June 2022

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