Topic: Insolvency

Chinese-Saudi telecoms dispute kicks off at ICSID

Saudia Arabia is facing an ICSID claim by a Hong Kong investor in a now-liquidated telecoms consortium that had its operating licence cancelled by the state.

27 July 2022

Crypto fund collapse produces billion-dollar claim

A Singapore-based currency trader has filed a US$2.4 billion ICDR claim seeking to recover loans issued to a crypto hedge fund that it says suffered an “unprecedented implosion” following market volatility.

21 July 2022

Venezuelan state entity dodges ICSID enforcement in Singapore

Singapore’s High Court has refused to allow one of Venezuela’s ICSID creditors to enforce a US$500 million-plus award against the assets of a state-owned entity facing US sanctions.

20 July 2022

Electricity consortium threatens Nigerian state agency

A consortium of investors in an electricity distributor in Nigeria has reportedly threatened to take the country’s privatisation agency to arbitration in the UK, accusing it of facilitating a forced takeover of the utility by a local lender.

19 July 2022

Park developer brings billion-dollar claim against Vietnam

An industrial park developer and its chairwoman founder have launched a billion-dollar treaty claim against Vietnam over an alleged campaign to force the company into bankruptcy, as a prior arbitration brought by her moves to the merits phase.

04 July 2022

LCIA award cancels debts to Russia’s Sberbank in refinery dispute

A Swiss oil trader says it has won an LCIA award that cancels debts of over US$1 billion to Russia’s Sberbank after the majority state-owned financial institution was found to have driven a Siberian refinery into bankruptcy.

27 June 2022

Jailed insurance executive loses challenge to Dutch award

A US businessman convicted of bribery has failed to overturn a Netherlands Arbitration Institute summary award requiring him to pay €150 million to a bankrupt Dutch life insurer owned by him.

21 April 2022

India wins US stay of satellite award

A US court has granted India a stay of enforcement of a US$111 million investment treaty award in favour of Mauritian telecoms investors, as a French court denies the investors permission to intervene in an action to enforce a related ICC award.

04 April 2022

Croatian state bank liable over shipbuilding contract

An Australian agriculture exporter says it has won an award in a London arbitration against a Croatian state-owned development bank that guaranteed the construction of a livestock vessel.

08 February 2022

Devas investors launch new claim against India

Investors in Devas Multimedia have launched a new treaty claim against India over its “unprecedented” efforts to thwart enforcement of a US$1.3 billion ICC award – weeks after the company’s liquidation was upheld by the Indian Supreme Court.

03 February 2022

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