Topic: Insolvency

Brazilian airline’s award debtor seeks bankruptcy protection

A group of distressed investment funds have sought bankruptcy protection in New York to prevent a Brazilian airline from enforcing a decade-old ICC award worth US$60 million against their assets.

09 July 2021

Russia can present new evidence in Yukos challenge

A Canadian appeal court has ruled that Russia can submit new evidence in its bid to set aside a jurisdictional award in a US$700 million Energy Charter Treaty case brought by a Yukos investor.

07 July 2021

Award creditor liquidated in India over alleged fraud

An Indian quasi-judicial entity has ordered the liquidation of Devas Multimedia and blocked it from enforcing a billion-dollar ICC award against a state-owned entity based on allegations of fraud.

28 May 2021

LCIA clause enforced in UAE healthcare insolvency

A court in Abu Dhabi’s financial free zone has stayed claims by the administrators of an insolvent Emirati healthcare group against a Dubai bank on the basis that they fall within the scope of an LCIA arbitration clause in an Islamic finance agreement.

28 May 2021

Award creditors threaten new treaty claim against India

Shareholders in Devas Multimedia have threatened India with a new investment treaty claim over its alleged efforts to thwart enforcement of ICC and UNCITRAL awards worth a combined US$1.4 billion.

07 May 2021

Colombia defeats ICSID claim over bank measures

Colombia has defeated a US$40 million ICSID claim brought by an investor in a bank that was nationalised during the country’s financial crisis in the 1990s.

20 April 2021

IBA releases toolkit on insolvency and arbitration

The International Bar Association has released a toolkit providing guidance for when a party to an arbitration is subject to insolvency proceedings.

24 March 2021

How covid insolvencies affect arbitration

With company bankruptcies on the rise because of the pandemic, Noah Rubins QC, Thomas Walsh and Ketevan Betaneli of Freshfields Bruckhaus Deringer look at the interplay between insolvency and arbitration and how to ensure an award is worth more than the paper on which it is written.

18 March 2021

Albania award creditor wound up at funder’s request

An Australian disputes funder that financed an ICC claim against Albania has obtained a Cayman winding-up order against the claimant after the proceeds of the award were seized by an Albanian bailiff.

09 March 2021

Uganda fails to knock rail claim off track

A UK court has upheld a tribunal’s decision to allow a rail company’s claim against Uganda to proceed without permission from the claimant’s Ugandan court-appointed liquidator.

02 March 2021

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