Topic: Fraud and forgery

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

Former Cooley lawyer charged in fraud scheme

A former special counsel at Cooley has been charged in connection with an alleged fraud scheme spanning his time at the firm and at the Commonwealth Secretariat – with his wife, an anti-corruption lawyer, facing separate charges.

07 August 2020

German investor fails to revive settlement with Libya

A French court has refused to reinstate a US$120 million consent award in an investment treaty case against Libya that was rescinded after the tribunal found that the German claimant procured the settlement fraudulently.

17 July 2020

Danish panel decides M&A fraud claim

A Nordic private equity firm says it has been awarded €87 million after prevailing on a fraud claim arising from its purchase of an ice-cream equipment maker, though the seller disputes this account of the award.

23 June 2020

Buffett group wins damages in fraud claim

A conglomerate controlled by US billionaire Warren Buffett has been awarded €643 million after an ICDR tribunal found it was “fraudulently induced” into acquiring a German piping manufacturer based on fictitious revenue.

16 April 2020

Canadian miner defeats Zambian fraud suit

A court in Lusaka has thrown out a Zambian state entity’s fraud suit against a Canadian mining company on the basis it was “materially the same” as a claim already dismissed by an UNCITRAL tribunal.

06 April 2020

Glovemaker settles fraud claim in Singapore

A Malaysian rubber-glove manufacturer has agreed to settle a SIAC arbitration in which it claimed it was fraudulently induced into making a US$340 million acquisition, a dispute that also gave rise to litigation and asset freezes in Kuala Lumpur and Singapore.

05 March 2020

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