Topic: Fraud and forgery

UK appeal court revives fraud suit over Wirecard deal

The Court of Appeal in London has held that a fraud suit relating to the €250 million sale of an Indian payments business to Germany’s Wirecard has sufficient connection to England to proceed, while reserving a decision on whether the claims belong in arbitration.

04 March 2021

Clyde & Co spared order to transfer “1MDB” funds

A UK judge has refused to compel Clyde & Co to make payments to an arbitration client from escrow funds that US authorities have linked to the 1MDB embezzlement scandal in Malaysia.

01 March 2021

Russian oil producer’s fraud suit fails in London

A UK judge has dismissed a Russian oil and gas producer’s US$300 million lawsuit against Igor Kolomoisky and three other Ukrainian businessmen who were accused of siphoning funds from an oil refining venture – events that gave rise to an investment treaty claim and a Swiss criminal complaint.

24 February 2021

Oligarchs bring second ICSID claim against US

Companies controlled by Ukrainian oligarchs Igor Kolomoisky and Gennadiy Bogolyubov say they are launching a second ICSID claim against the United States over the targeting of assets they are accused of acquiring through money laundering.

23 February 2021

Fraud appeal in casino dispute fails in Singapore

The Singapore Court of Appeal has upheld an award on liability that led to a Manila gaming resort owner being ordered to pay US$296 million to a Las Vegas casino operator – rejecting allegations that the successful party and its counsel fraudulently misled the tribunal.

19 February 2021

Agent can’t revive ICC claim after “kickbacks”

A Swiss court has upheld an ICC award that blocked a Panamanian company from recovering agency commissions from a client after it emerged the agent’s founder had paid “kickbacks” to one of the client’s employees.

21 January 2021

Mexican satellite fraud claim fails at ICDR

Luxembourg-based satellite operator SES has applied to enforce a costs award after fending off fraud claims brought by a Mexican business partner in an ICDR arbitration.

21 January 2021

Dutch court sets aside Kazakh attachment ruling

The Dutch Supreme Court has set aside a decision upholding a US$5.2 billion attachment against Kazakhstan’s sovereign wealth fund over an Energy Charter Treaty award – while several US hedge funds with an interest in the award face renewed fraud allegations.

08 January 2021

Fraud award upheld in fight over failed construction venture

A Singaporean businessman based in India has failed to overturn a SIAC award that found he made serious fraudulent misrepresentations to his partners in a failed construction business.

10 December 2020

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

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