Topic: Fraud and forgery

SIAC panel holds Repsol liable in fraud claim

A SIAC tribunal has issued a partial award in favour of China’s Sinopec Group in a US$5.5 billion fraud claim against Repsol relating to the purchase of a stake in a North Sea oil venture eight years ago.

17 February 2020

Billion-dollar mining fraud award upheld in London

The Commercial Court in London has rejected an application by a Guernsey mining company founded by Israeli billionaire Beny Steinmetz to set aside a US$2 billion LCIA award that found an iron ore concession in Guinea was procured using bribes.

02 December 2019

Malaysia's 1MDB wins appeal over challenge to LCIA settlement

The Court of Appeal in London has ruled that Malaysian sovereign wealth fund 1MDB can proceed with an application to set aside an allegedly fraudulent settlement of an LCIA arbitration with an Abu Dhabi government-owned entity amid a scandal over billions of dollars in misappropriated funds.

27 November 2019

Heilbron rejects fraud claim against drone developer

British arbitrator Hilary Heilbron QC has thrown out claims by a leading US supplier of tactical military radio equipment that it was fraudulently induced into signing a distribution deal with a Canadian developer of drones.

21 November 2019

Naftogaz freezes Gazprom assets in “fraudulent conveyance” claim

A Dutch court has agreed to freeze shares in a Gazprom subsidiary while it hears claims by Ukraine’s Naftogaz that the Russian oil company fraudulently transferred those shares to evade payment of a US$2.56 billion SCC award.

28 October 2019

Tapie cleared of criminal charges

French businessman Bernard Tapie has been acquitted of charges of fraud and embezzlement of public funds in connection with a controversial €400 million award that he was alleged to have procured through a rigged arbitration.

09 July 2019

Settlement of Libya claim overturned after fraud finding

An UNCITRAL tribunal has overturned a US$120 million consent award that brought an end to a treaty claim against Libya after finding that the German claimant had taken advantage of the political turmoil in the country to procure the settlement through fraud.

13 June 2019

Mozambican state entities face claims amid fraud probe

Abu Dhabi-based shipbuilder Privinvest has commenced arbitration against three Mozambican state-owned companies in the wake of a probe by US authorities into an alleged US$2 billion fraud that has been called the “tuna bond” scandal.

17 April 2019

Pharma fraud award upheld but minors spared liability

The Singapore High Court has upheld a US$530 million ICC award that held Indian brothers Malvinder and Shivinder Mohan Singh and their companies liable for fraud over the sale of a pharmaceutical business – while annulling its findings against their children.

20 February 2019

Lawyers charged in Geneva over fake arbitration

Swiss authorities have charged Matthew Parish and two other Geneva-based lawyers with fabricating an arbitration as part of an effort to implicate senior Kuwaiti officials in a coup plot and corruption scandal.

03 December 2018

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