News

Resort developer takes Grenada to ICSID

The developer of a five-star hotel resort on the Caribbean island of Grenada has filed an ICSID claim alleging that the state has tried to “squeeze the project’s finances into failure” by slashing its budget and amending the terms of a citizenship scheme for foreign investors.

18 June 2021

Dutch court overturns ruling in Petrobras fraud suit

A Dutch court has reversed its decision to exclude certain claimants from a class action brought on behalf of investors in Petrobras who suffered losses due to the Lava Jato corruption scandal - after it emerged the Brazilian company had taken conflicting positions on the applicability of an arbitration clause.

18 June 2021

Swedish firm promotes from Gazprom team

Polina Permyakova, who has acted for Russia’s Gazprom in a series of gas pricing disputes, has been promoted to partner at Delphi in Stockholm.

18 June 2021

Bracewell hires practice head from K&L Gates

Martin Gusy has left his role as co-head of the international arbitration practice at K&L Gates to chair the practice at US firm Bracewell – bringing with him a US$1 billion ICSID claim against Iraq.

18 June 2021

Chinese investor launches second claim against Ghana

As a tribunal is formed to hear a Chinese construction company’s investment treaty claim against Ghana, the same investor has launched a related LCIA arbitration against the west African state over the cancellation of its contract to develop an intelligent traffic management system.

17 June 2021

Cuatrecasas lawyers accused of “switching sides” in Peru refinery dispute

A Spanish-owned contractor on a Peruvian refinery project has challenged a US$38 million ICC award, alleging that two members of its external counsel team violated ethical rules by joining the other side’s law firm before the case had concluded.

17 June 2021

ICSID urges approval of latest draft rule changes

ICSID has published its latest working paper on proposed amendments to its rules – including changes on ownership and control, third-party funding and costs – and has called on member states to vote on the draft by the end of the year.

17 June 2021

Indemnity costs in unsuccessful applications for set aside: different approaches compared

Sapna Jhangiani QC of Clyde & Co and Jarret Huang of the Singapore Management University School of Law look at a recent decision of the Singapore Court of Appeal that adds to debate on the role of indemnity costs in unsuccessful applications to set aside arbitral awards, comparing the court’s approach to those of the Hong Kong and English courts.

17 June 2021

Second insurer threatens Chile over pension reforms

A subsidiary of Switzerland’s Zurich Insurance has become the second investor to threaten Chile with a treaty claim over reforms to its private pension system.

16 June 2021

“Non-existent” company’s award blocked in Singapore

A Singapore court has blocked a Norwegian company from enforcing an award because it was rendered in favour of a separate legal entity that had ceased to exist before the arbitration even started.

16 June 2021

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