Work Area: Enforcement and set-aside
Dominican Republic defeats bid to revive lost profits claim
A Spanish wind farm investor has failed to revive a nearly US$288 million ICC claim against the Dominican Republic for lost profits, while an Australian mining company’s ICSID claim against the Caribbean state has cleared the jurisdictional stage.
02 March 2022
Poland overturns denial of justice award
A Brussels court has set aside a US$10 million UNCITRAL award that held Poland liable for a denial of justice – in what is thought to be the first time an investment treaty award has been annulled in Belgium.
01 March 2022
Apple wins ICC dispute with headphones maker
An ICC tribunal has ruled that a US headphones maker violated a confidentiality agreement with Apple when it sued the California-based tech multinational for alleged patent infringement.
01 March 2022
Telecoms investor fails to revive NAFTA claim
A Canadian court has dismissed a US businessman’s attempt to revive a US$472 million NAFTA claim against Mexico over a regulatory decision that allegedly destroyed his telecoms business.
24 February 2022
LCIA award surfaces in Russian bank fraud case
Sons of a prominent Russian businessman took part in a “dishonest scheme” with a bank executive to replace US$500 million worth of secured loans with “unmarketable” bonds, according to a now-public LCIA award.
22 February 2022
Indonesia resists award over aborted satellite project
UPDATED: Indonesia’s ministry of defence is reportedly resisting a Hungarian technology group’s efforts to enforce a US$20 million ICC award over a cancelled satellite project.
21 February 2022
Steinmetz lawyers say Vale award may be reopened after fraud trial collapses
Beny Steinmetz’s eponymous mining company may seek to overturn a US$2 billion LCIA award in favour of Brazil’s Vale following the collapse of a related fraud litigation this week, the Israeli businessman’s lawyers have said.
17 February 2022
Taiwan pharma group quashes damages award in Germany
The German Supreme Court has set aside a €140 million damages award against a Taiwanese pharmaceuticals company after finding the ICC tribunal violated its right to be heard – in a fight over a blood cancer drug that has spawned a second ICC case worth US$5 billion and a criminal complaint.
16 February 2022
Edison loses award challenge in environmental dispute
A Swiss court has upheld an ICC award requiring Italian power utility Edison to pay over €91 million to Belgian chemicals producer Solvay for breaches of environmental guarantees relating to the sale of two industrial plants two decades ago.
16 February 2022
Lithuania’s suit against Veolia thrown out
A court in Vilnius has refused to admit claims brought by the Lithuanian government against French environmental services group Veolia that were originally raised in an intra-EU BIT arbitration at ICSID.
14 February 2022