Work Area: Enforcement and set-aside

US sanctions authority clears Korea to pay Iranian award

South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite US sanctions against Iran.

12 January 2022

South African mining group pursues Zimbabwe in DC

Two Mauritian subsidiaries of South African mining group Amari have brought a US action against Zimbabwe to collect on a US$50 million ICC award issued eight years ago over nickel and platinum projects that were terminated on the basis of corruption allegations.

11 January 2022

Oligarch fails to revive treaty claim against Russia

Former banker Sergei Pugachev has failed to persuade a Spanish court to revive his US$14.5 billion investment treaty claim against Russia.

10 January 2022

Chinese gas field award upheld in Singapore

An insolvent Hong Kong energy company has lost its bid to revive a US$340 million UNCITRAL claim against a Chinese state-owned entity relating to a gas field in the East China Sea.

07 January 2022

British F1 team races to enforce against ex-sponsor

A British Formula 1 racing team has asked a US court to enforce a US$36 million LCIA award issued by arbitrator Klaus Reichert SC against its former lead sponsor.

07 January 2022

Miculas fail to revive alcohol claim against Romania

Sweden’s Micula brothers have failed to revive a US$2 billion ICSID claim against Romania over the state’s alleged failure to police its black market in alcohol.

06 January 2022

Croatia seeks to reopen award in bribery dispute

Croatia has said it will ask a Swiss court to review an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister – as the Balkan state settles a separate dispute with a US investor.

06 January 2022

A new approach to the public policy defence in Ukraine

Olexander Droug, Tatyana Slipachuk and Alina Danyleiko of Sayenko Kharenko in Kiev say a recent pair of judgments show a volte-face by the Ukrainian Supreme Court in its approach to public policy as a defence to enforcement of arbitral awards.

06 January 2022

Telecoms investors seize Indian aviation funds

Mauritian investors in an Indian telecoms company have frozen US$30 million in aviation funds in their bid to collect on a treaty award against India – as they get the all-clear to pursue assets in Virginia.

05 January 2022

Court finds Kazakhstan bound by Soviet treaty

A UK court has ruled that a US$917 million arbitration against Kazakhstan can proceed after all, finding that an eminent UNCITRAL tribunal was distracted by “irrelevant material” when it found the state was not bound by an investment treaty signed by the former Soviet Union.

04 January 2022

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