Region: Brazil

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

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 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

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

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

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

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

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

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

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