Region: Africa & Middle East

Libya fails in corruption challenge to treaty award

The Paris Court of Appeal has upheld a US$51 million investment treaty award against Libya, rejecting the state’s allegations of corruption and ruling that the legality of the claimants’ investment was a matter for the arbitrators.

26 May 2021

Morocco settles tunnel dispute

Morocco has paid to settle an ICSID claim brought by an Italian construction company over a tunnel project – as a British businessman discontinues his ICSID case against the United Arab Emirates concerning an artificial archipelago.

21 May 2021

Nigeria in new ICC dispute over hydro project

UPDATED: Nigeria is reportedly facing a new ICC claim worth US$400 million after allegedly reneging on a settlement intended to resolve a prior arbitration over a major hydropower project.

19 May 2021

Swiss court upholds Syria award despite currency devaluation

A group of Turkish investors that won an ICC investment treaty claim against Syria over losses resulting from the country’s civil war have failed to overturn the arbitrators’ decision to award them compensation in Syrian pounds.

19 May 2021

Lesotho on the hook for stalled solar project

A German renewables company has applied to enforce a €50 million award against Lesotho after the southern African state reneged on a contract to buy solar energy equipment.

18 May 2021

DC court grants discovery for DIFC-LCIA case

As the US Supreme Court receives amicus briefs on whether US law permits discovery in aid of foreign commercial arbitrations, a court in Washington, DC, has found that a DIFC-LCIA proceeding qualifies for such assistance because the institution is “state-sponsored”.

14 May 2021

Tanzanian power deal leads to award

The assignee of a UAE company has applied to enforce a US$30 million award stemming from a Tanzanian power deal, accusing US energy company Symbion Power and its executives of asset-stripping to evade payment.

14 May 2021

Finnish investor threatens second claim against Egypt

A Finnish businessman who won an award against Egypt over his iron and steel business has threatened to bring a second investment treaty claim against the state over its subsequent conduct – after successfully attaching assets in Spain.

11 May 2021

Burford backs miner’s claim against Congo

Australia’s Sundance Resources has disclosed that Burford Capital will fund its US$8.8 billion ICC claim against the Republic of the Congo over a revoked mining licence – as well as a potential claim against Cameroon.

10 May 2021

UK energy company brings claim against Congo

A UK energy company has filed an ICSID claim against the Republic of the Congo over the expropriation of its interest in an oil block – seeking at least US$450 million in damages.

05 May 2021

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