Region: Angola

A Paris court has upheld a US$646 million award against a company owned by embattled Angolan billionaire Isabel dos Santos – ruling that the ICC was right to appoint the five-member tribunal that heard the case and dismissing allegations of bias against two arbitrators.

27 January 2021

General Electric has filed two ICC claims against an African energy company that accuses it of encouraging the Angolan government to terminate a power plant project worth US$1.1 billion.

06 October 2020

A Dutch court has frozen assets controlled by the husband of embattled Angolan billionaire Isabel dos Santos in support of two arbitrations over a share purchase that is the subject of a criminal investigation for alleged money laundering and embezzlement.

22 September 2020

The High Court of the British Virgin Islands has enforced a US$646 million award against a company owned by beleaguered Angolan billionaire Isabel dos Santos, finding that the ICC Court was right to appoint all five members of the arbitral tribunal itself.

18 August 2020

UPDATED WITH TRIBUNAL: Angola has defeated a US$850 million claim by a company linked to the billionaire daughter of the country’s former president, which arose out of a port concession contract that was never signed.

14 July 2020

Featured in The Middle Eastern and African Arbitration Review 2020

20 April 2020

Featured in The Middle Eastern and African Arbitration Review 2019

11 April 2019

US oil company Cobalt International has filed two ICC claims worth over US$2 billion against Angolan state entity Sonangol, accusing it of reneging on agreements relating to two deepwater oil blocks.

15 May 2017

US oil company Cobalt International has threatened Angola’s state-run Sonangol with an ICC claim after it walked away from a US$1.8 billion deal to buy its operating stake in two oil-rich deepwater blocks off the coast of the African state.

28 March 2017