Topic: Fraud and forgery

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

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

ICC arbitrators targeted in Kenyan mobile dispute

A Kenyan company has obtained a court order in Nairobi requiring the ICC to turn over documents for use in a fraud suit against an arbitrator – and says it has filed related criminal complaints against tribunal members in France and Austria.

02 November 2020

Buffett group drops Jones Day suit

A conglomerate controlled by US billionaire Warren Buffett has dropped a US$750 million suit against Jones Day, which it alleged had conspired to defraud it into buying an insolvent German piping business.

23 October 2020

Pasta maker can’t reheat fraud claim

A German family-owned pasta business has failed to reopen a Stockholm Chamber of Commerce award in favour of a US distributor on the basis of new evidence that allegedly showed it rested on fraudulent contracts.

13 October 2020

Buffett group brings fraud suit against Jones Day

A conglomerate controlled by US billionaire Warren Buffett that won a €643 million award after claiming it was defrauded into buying a German piping business has now filed a lawsuit in Texas against Jones Day – alleging the law firm was part of the scheme.

02 October 2020

Nigeria overturns security order in mega-award challenge

The Commercial Court in London has ordered the release of US$200 million that Nigeria paid in security as it challenges a US$10 billion award over a failed gas deal, after recently finding the state has a strong prima facie case that the arbitration and the contract were tainted by corruption.

29 September 2020

UK court clarifies privilege rules for foreign lawyers

A UK judge hearing a fraud suit against Ukrainian oligarch Igor Kolomoisky and others has ruled that privilege applies to legal advice given by foreign lawyers regardless of their legal qualifications, professional registration status or whether they work in-house.

21 September 2020

Nigeria can plead fraud case against mega-award

The Commercial Court in London has ruled that Nigeria can pursue a late challenge to a US$10 billion award over a failed gas project, ruling there is a “strong prima facie case” that it was tainted by corruption, perjury and dishonest conduct.

04 September 2020

Loan fraud suit proceeds in Caribbean court

A court in the Caribbean island nation of Saint Kitts and Nevis has refused to strike out litigation against a US businessman accused of overseeing an elaborate stock loan fraud scheme – despite his arguments that the Singapore courts have already determined the dispute should be heard in arbitration.

10 August 2020

Get unlimited access to all Global Arbitration Review content