Region: Brazil

Steinmetz lawyers say Vale award may be reopened after fraud trial collapses

Beny Steinmetz’s eponymous mining company may seek to overturn a US$2 billion LCIA award in favour of Brazil’s Vale following the collapse of a related fraud litigation this week, the Israeli businessman’s lawyers have said.

17 February 2022

Malaysian state entity defeats Brazilian oilfield claim

A Brazilian energy company says an ICC tribunal has rejected its US$1.5 billion claim against a subsidiary of Malaysia’s national oil and gas company Petronas over its decision to pull out of a deal to acquire oil assets off the coast of Rio de Janeiro.

15 February 2022

Panama faces water and airport claims

Panama has been hit with a treaty claim from a US investor in a water treatment business, while one of its state entities is facing a claim by Odebrecht over a cancelled contract for a new airport terminal.

15 February 2022

Belgian-Brazilian hygiene M&A dispute settles

A Belgium-based provider of personal hygiene products has agreed to settle an ICC claim against a Brazilian pharmaceuticals group over a €300 million acquisition.

17 September 2021

Arbitrator resigns from Brazilian pulp case

Brazilian arbitrator Anderson Schreiber has resigned from an ICC tribunal hearing a multibillion-dollar dispute over the sale of a pulp producer, while criticising one side for only raising an alleged conflict of interests during set-aside proceedings.

23 August 2021

Brazilian court stays pulp award over potential arbitrator conflict

A Brazilian appeal court has partially stayed an award on liability issued in a multibillion-dollar ICC dispute over the sale of a pulp maker, holding there is enough evidence that arbitrator Anderson Schreiber is conflicted to warrant pausing the transaction while a set aside bid is heard.

04 August 2021

Brazilian distributor wins billion-dollar dispute with Hyundai

An ICC tribunal in Frankfurt has ruled in a billion-dollar dispute over a distributor’s right to import Hyundai cars to Brazil, ruling the Korean company had no basis for refusing to renew their contract for another decade.

26 July 2021

ICC rejects challenge over alleged cyber-attack

As a Brazilian court lifts a stay on an award in a multibillion-dollar M&A dispute, the ICC Court has rejected a bid to disqualify the entire tribunal based on an alleged cyber-attack.

14 July 2021

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

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

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