Work Area: Enforcement and set-aside

Chinese investor takes Nigeria award to DC

A Chinese company has applied to a US court to enforce a US$70 million UNCITRAL award against Nigeria over a joint venture to develop a free trade zone near Lagos – thought to be the first investment treaty win by an investor from mainland China against an African state.

26 January 2022

Chilean state entity brings ICSID claim against Ecuador

Chile’s state-owned copper company has filed an ICSID claim against Ecuador, while a treaty dispute over another mining project is on the horizon.

26 January 2022

Faulty service delays enforcement against Venezuela

Venezuela has successfully appealed the US recognition of an ICSID award worth more than US$42 million in favour of a French plastics company on the basis that the enforcement proceedings were not properly served.

26 January 2022

EU’s top court rules against Miculas in state aid saga

The Court of Justice of the European Union has ruled that the European Commission was competent to decide that Romania’s payment of a €178 million ICSID award in favour of the Micula brothers would violate state aid rules – also finding that Achmea is relevant to the case.

25 January 2022

ICSID creditors to settle feud over Zimbabwe awards

A Zimbabwean forestry company is preparing to settle a dispute with its former owners over the division of US$124 million in proceeds from two overlapping ICSID awards against Zimbabwe – which has given rise to litigation between the creditors in the UK and competing enforcement actions in the US.

21 January 2022

Austrian pharma company alleges arbitral fraud

An Austrian pharmaceuticals company has asked a US court to grant discovery to support criminal allegations that its Taiwanese partner has made fraudulent statements in two ICC arbitrations arising from a multibillion-euro dispute over a blood cancer drug.

20 January 2022

Venezuela loses US appeal over attached shares

A US appeals court has said it lacks jurisdiction to intervene in Canadian mining company Crystallex’s efforts to execute a US$1.4 billion ICSID award against Venezuela’s largest foreign asset as the lower court has yet to make a final decision.

19 January 2022

Guatemala chases Israeli investor over costs

An UNCITRAL award favouring Guatemala has surfaced as the state applies to collect costs from an Israeli energy company behind a failed US$117 million investment treaty claim.

17 January 2022

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

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