Work Area: Enforcement and set-aside
Russian steel producer wins set-aside bid in Sweden
In a rare example of an annulment in the Swedish courts, the operator of a Russian steel plant has won the partial set-aside of a Stockholm Chamber of Commerce award in a US$200 million dispute with a Chinese engineering contractor.
08 November 2022
Shanghai pharma company wins put-option dispute
A Shanghai-based pharmaceutical company has sought to enforce an ICDR award worth over US$40 million against the founder of a New Jersey-based medical practices network who has been implicated in a bank fraud conspiracy.
07 November 2022
Italy seeks to annul ECT award
Italy has applied to ICSID to annul an award that required it to pay a UK oil and gas company €190 million plus interest for refusing to grant a production concession for an offshore oil field.
31 October 2022
Guatemalan bank sees off ICDR claim in bribery dispute
A Guatemalan bank has defeated an ICDR claim worth almost US$400 million brought under a share purchase agreement allegedly procured through bribery.
28 October 2022
UK judge lifts stay of Yukos enforcement action
An English judge has agreed to lift a stay of proceedings brought by the former majority shareholders of Yukos Oil Company to enforce awards worth over US$50 billion against Russia, for the “sole purpose” of deciding on the state’s jurisdictional defence.
26 October 2022
Iranian state entity’s award challenge thrown out
Iran’s national oil company has lost another challenge to a US$2.4 billion award in favour of the UAE’s Crescent Petroleum in a long-running dispute over a failed gas supply deal.
24 October 2022
White & Case withdraws as counsel to Belarus in ICSID case
Months after White & Case announced it would cease acting for Russian and Belarusian state clients in response to the invasion of Ukraine, the law firm has withdrawn as counsel to Belarus in one ICSID case but remains on the record in another.
24 October 2022
Madagascar fails to annul clothes factory award
A split ICSID committee has upheld an award requiring Madagascar to pay €7 million to two Belgian brothers whose clothes factory was looted and burned down – rejecting arguments that the state didn't have effective legal representation during the arbitration.
20 October 2022
UK judge rejects apparent bias challenge in power dispute
A UK judge has refused to disqualify three arbitrators from a US$500 million power supply dispute that has led to allegations of fraud, while taking issue with the view that the UNCITRAL rules permit interim remedies to be granted in the form of an award.
18 October 2022
Croatia fails to reopen award after bribery verdict
A Swiss court has refused Croatia’s request for review of an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister, ruling the arbitrators were not bound by the findings of the Croatian criminal courts.
13 October 2022