Topic: Settlements

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

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

A UK commodities trader has agreed to withdraw ICSID and ICC claims against Sierra Leone after reaching an agreement with the state to negotiate a new lease for an iron ore mining project and lift export restrictions.

11 May 2021

US energy services group Baker Hughes has settled a €142 million dispute over alleged equipment defects at a complex of gas storage caverns in Germany – which gave rise to two DIS arbitrations, a lawsuit in Houston and a discovery bid in Delaware.

06 May 2021

A Chinese-owned oil company has applied to enforce an award worth more than US$540 million against Occidental Petroleum, representing its share of an ICSID settlement paid by the Ecuadorean government six years ago.

04 May 2021

The Cook Islands has sought to enforce a costs award after defeating a US$20 million ICC claim brought by a Florida-based businessman who said his medical training facility in the South Pacific nation was blocked.

26 April 2021

Canadian miner Turquoise Hill Resources has settled an arbitration with its majority shareholder Rio Tinto concerning US$2.3 billion in funding for a troubled copper and gold project in Mongolia, while an investor-state claim over tax measures continues.

12 April 2021

A US nuclear fuel technology company has settled a joint venture dispute with a subsidiary of Électricité de France that was playing out in ICC arbitration in Geneva and litigation in Delaware.

01 April 2021

Belgian logistics group Katoen Natie has agreed not to pursue a US$1.5 billion ICSID claim against Uruguay after the state extended the life of its concession for a container terminal at the port of Montevideo.

17 March 2021

General Electric has reached an agreement worth €261 million to settle an ICC claim brought by a Slovenian state-owned energy company over the construction of a lignite power plant that was plagued by corruption allegations.

16 March 2021