Work Area: Enforcement and set-aside

Thai bank must face fraudulent transfer claims

One of Thailand's largest commercial banks has failed to knock out part of a UK fraud litigation in which it is accused of conspiring to steal US$2 billion worth of wind energy assets and frustrate enforcement of a US$700 million ICC award.

26 November 2020

Magnate sees setback in Australian mining dispute

An Australian court has overturned the enforcement of a pair of awards in favour of a mining magnate pursuing a US$21 billion arbitration against Western Australia – as he challenges emergency legislation passed by the state government to thwart his claim.

25 November 2020

Panel told to rethink damages in Kazakh mining dispute

The Commercial Court in London has set aside the quantum findings in a US$50 million investment treaty award in favour of a Canadian mining company against Kazakhstan after ruling that the state was not given a fair opportunity to address damages.

24 November 2020

UK court enforces award against Ukraine despite “illegality”

Ukraine has failed to overturn the enforcement of a US$112 million investment treaty award won by Russian oil and gas producer Tatneft – despite a finding by the Commercial Court in London that the majority of the damages awarded related to an illegal purchase of shares.

24 November 2020

Yukos awards stayed in US

A US court has granted Russia a stay of enforcement on the US$50 billion Yukos awards while the state pursues its set aside bid in the Netherlands.

23 November 2020

Crimea creditors jostle over Russian assets

An entity linked to Ukrainian oligarch Igor Kolomoisky has failed in an unusual attempt to halt the enforcement of a US$1.1 billion award against Russia – as it races to collect on its own treaty award compensating it for expropriated assets in Crimea.

20 November 2020

ECJ hears calls to rule on ECT and Achmea

At a hearing in Luxembourg this week, the EU Commission and a number of member states called on the European Court of Justice to rule on whether the Achmea decision bars intra-EU investment arbitration under the Energy Charter Treaty - even though the dispute giving rise to the proceedings is between non-EU parties.

19 November 2020

Libya overturns treaty award in Paris

The Paris Court of Appeal has set aside a French construction company’s €452 million ICC award against Libya after finding it was based on a fraudulent settlement agreement.

18 November 2020

Saudi Aramco again escapes US$18 billion enforcement bid

A US court has dismissed a renewed bid by a group of Saudi and Egyptian claimants to enforce a US$18 billion award against Saudi Aramco allegedly issued by a “sham” institution.

18 November 2020

Dutch court adviser rejects Russia’s call to stay Yukos awards

An advocate general of the Dutch Supreme Court has recommended that enforcement of the US$50 billion Yukos awards should not be stayed while Russia seeks to have them annulled.

16 November 2020

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