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Region: Brazil

Claimants clash as details of Brazil mega-case emerge

After it emerged that a Petrobras shareholder is bringing an arbitration worth up to US$35 billion against Brazil over losses the state-owned oil company sustained following the Lava Jato corruption probe, another claimant has come forward to argue the shareholder is entitled to nothing.

10 December 2020

Mega-claim against Brazil to proceed

An arbitral tribunal has reportedly upheld jurisdiction over a third-party funded claim worth up to US$35 billion brought against Brazil by a minority shareholder in Petrobras over losses the state-owned oil company sustained as a result of the Lava Jato corruption probe.

25 November 2020

Telecom Italia defeats bid to revive US$15 billion claim

An ICC tribunal has rejected a private equity group’s bid to revive a US$15 billion claim against Telecom Italia, dismissing allegations that the respondent had withheld evidence decisive to the case.

10 September 2020

Settlement bars Petrobras claim over refinery bribes

A Texas state appeal court has affirmed that Brazil’s Petrobras is barred from pursuing bribery claims in an ICDR arbitration over the purchase of a US oil refinery because of a settlement agreed eight years ago.

25 August 2020

Brazilian airline’s award enforced in Cayman Islands

The Court of Appeal of the Cayman Islands has enforced a Brazilian airline’s US$55 million ICC award against two private equity funds, ruling that the arbitrators were entitled to decide the case on a legal ground not pleaded by the parties.

19 August 2020

Boeing faces claim over cancelled merger

Brazilian aerospace company Embraer has launched an arbitration against Boeing after the US aircraft maker pulled out of a US$4.2 billion merger.

28 April 2020

Brazilian oil awards survive failure to disclose

A French court has upheld five partial awards in an LCIA-administered arbitration between Brazilian partners in an offshore oil block – while finding that an arbitrator should have disclosed his ties to a Canadian law firm that acted for the majority shareholders of one of the parties.

17 April 2020