Work Area: Enforcement and set-aside

Buffett award enforced in New York

A New York federal court has confirmed a €643 million award in favour of a conglomerate controlled by US billionaire Warren Buffett that was found to have been defrauded into acquiring a German piping manufacturer.

16 July 2020

Miculas seek to revive ICSID claim against Romania

Sweden’s Micula brothers have launched ICSID annulment proceedings in a bid to revive a US$2 billion claim over the state’s alleged failure to police its black market in alcohol.

15 July 2020

UK court rejects due process challenge to Shell award

An Italian energy company was not deprived of due process in an LCIA arbitration with Shell as a result of being unable to find a senior barrister to represent it after sacking its entire legal team days before the final hearing, the Commercial Court in London has ruled.

14 July 2020

Sinopec faces bid to enforce annulled CIETAC award

A British Virgin Islands company has asked a US court to enforce a US$21 million CIETAC award against a subsidiary of Chinese state-owned energy company Sinopec – weeks after it was annulled by a court in Beijing.

14 July 2020

Dutch court lifts freeze on Egyptian property

A Dutch court has lifted an attachment over an unoccupied property in The Hague that was frozen at the request of a Finnish businessman seeking to enforce an investment treaty award against Egypt, after the state said it planned to use the building as its ambassador’s residence once again.

13 July 2020

Attachment of Kazakh assets lifted in Sweden

A Stockholm appeal court has overturned the attachment of US$85 million in Kazakh funds obtained by Moldovan investors seeking to enforce a US$543 million Energy Charter Treaty award – ruling that assets held by a central bank are subject to sovereign immunity under international law.

13 July 2020

UK Supreme Court to hear Kabab-Ji v Kout appeal

The UK Supreme Court has given a Lebanese food company leave to appeal a decision that refused enforcement of an ICC award against a non-signatory – weeks after the same award was upheld by a French court at the seat of arbitration.

10 July 2020

Chinese-US aircraft venture spawns Hong Kong award

A Chinese-owned company has asked a Missouri court to enforce an US$87 million HKIAC award against its US partner in a failed joint venture to resell used aircraft.

09 July 2020

Gambia fails in novel challenge to ICSID award

An ICSID annulment committee has upheld a US$23 million award against Gambia – rejecting a first-of-its-kind challenge by the state that the tribunal was improperly constituted after the centre stepped in to appoint its arbitrator.

08 July 2020

Funder seeks to enforce against Kyrgyzstan

An affiliate of Burford Capital has applied to a US court to enforce a US$24 million investment treaty award against Kyrgyzstan over the state’s expropriation of mining rights.

07 July 2020

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