Topic: Fraud and forgery

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

Fraud suit against Petrobras clears hurdle

A Dutch court has refused to throw out a class action brought on behalf of investors in Petrobras who suffered losses as a result of the “Lava Jato” corruption scandal – holding that an arbitration clause in the Brazilian company’s articles of association does not preclude the lawsuit.

25 September 2018

Glovemaker M&A prompts fraud claim in Singapore

A listed Malaysian manufacturer of rubber gloves has launched a SIAC arbitration alleging it was defrauded into making a US$340 million acquisition earlier this year.

11 July 2018

Conoco targets proceeds of PDVSA fraud litigation

US energy multinational ConocoPhillips has accused Venezuela’s state-run oil company PDVSA of fraudulently trying to shield the potential proceeds of a billion-dollar fraud litigation in Florida from the reach of its arbitral creditors.

09 July 2018

Mexico faces claim over fraud investigation

A Singaporean marine services provider has filed an investment treaty claim against Mexico after vessels belonging to its subsidiary were seized as part of a fraud investigation targeting one of Latin America’s largest oil services companies.

08 May 2018

Get unlimited access to all Global Arbitration Review content