Work Area: Enforcement and set-aside

A Finnish businessman who won an award against Egypt over his iron and steel business has threatened to bring a second investment treaty claim against the state over its subsequent conduct – after successfully attaching assets in Spain.

11 May 2021

In a judgment dealing with an important issue of principle for offshore jurisdictions, the Court of Appeal of the Cayman Islands has said that Indian conglomerate Essar must provide steelmaker ArcelorMittal USA with information and documents relating to the assets of one of its companies to assist enforcement of an ICC award.

11 May 2021

The Singapore High Court has refused to set aside a SIAC award because of a lawyer’s failure to correct opposing counsel’s alleged misunderstanding of the issues in play – holding that “counsel are responsible for arguing their own case, not for ensuring that the other side meets their case.”

05 May 2021

A Chinese-owned oil company has applied to enforce an award worth more than US$540 million against Occidental Petroleum, representing its share of an ICSID settlement paid by the Ecuadorean government six years ago.

04 May 2021

Tanzania has paid US$22 million to satisfy an UNCITRAL award after the Italian-owned creditors attempted to seize three aircraft purchased by the East African state following enforcement of the award in the Canadian courts.

30 April 2021

The Cook Islands has sought to enforce a costs award after defeating a US$20 million ICC claim brought by a Florida-based businessman who said his medical training facility in the South Pacific nation was blocked.

26 April 2021

An adviser to the Dutch Supreme Court has recommended that Russia’s bid to overturn the US$50 billion awards won by the former majority shareholders in Yukos should be dismissed.

23 April 2021

French department store chain Galeries Lafayette has failed to revive a €680 million ICC claim against BNP Paribas based on allegations that the arbitrators were biased.

22 April 2021

The judicial committee of the Privy Council has upheld a challenge to an award issued in the Bahamas for serious irregularity – marking the first time the UK’s top judges have considered the requirement that the irregularity cause substantial injustice since the decision of the House of Lords in the Lesotho Highlands case 15 years ago.

20 April 2021

A London court has rejected an application by the former majority shareholders in Yukos to lift a stay of enforcement over their US$50 billion awards against Russia, ruling they must wait until the Dutch Supreme Court rules on the state’s set aside bid.

14 April 2021