Topic: Settlements

Egyptian authority to settle fight over port project

An Egyptian port authority has agreed to pay US$260 million to settle a long-running dispute over a cancelled project to build a container terminal facility that spawned three ICC cases and an ICSID claim.

18 February 2022

Egyptian investors withdraw claim over Kuwaiti heritage site

An Egyptian family has agreed to discontinue its ICSID claim against Kuwait as the parties negotiate a settlement over a delayed project to build a heritage site in the country’s capital.

14 February 2022

Colombian utility reports receiving payout to settle hydro dispute

A Colombian public utility says it has received almost US$1 billion in compensation from a Spanish insurer to settle an arbitration over the collapse of a hydroelectric dam that led to major flooding.

27 January 2022

ICSID creditors to settle feud over Zimbabwe awards

A Zimbabwean forestry company is preparing to settle a dispute with its former owners over the division of US$124 million in proceeds from two overlapping ICSID awards against Zimbabwe – which has given rise to litigation between the creditors in the UK and competing enforcement actions in the US.

21 January 2022

US-Korean fuel cell dispute settles

A US fuel cell manufacturer has settled a billion-dollar technology dispute with South Korea’s largest private energy producer that had been playing out in five ICC arbitrations, following a successful mediation.

06 January 2022

Canadian gold miner settles with Mali

A Canadian gold mining company says it will withdraw an ICSID claim against Mali after the state agreed to grant it a new exploration permit.

13 December 2021

Egypt settles with Finnish iron investor

Egypt has reached an agreement with a Finnish businessman to settle a treaty award worth US$121 million over the loss of his iron and steel investments – ending a dispute that led to enforcement actions across three continents and a second treaty claim over the state’s refusal to pay.

09 December 2021

Norilsk Nickel settles with Botswana over botched asset sale

The world’s largest nickel producer says it is has settled a dispute with the Botswanan government over the aborted sale of its African assets, which gave rise to an LCIA claim worth US$277 million.

18 November 2021

EDF settles ICC dispute over sale of nuclear assets

UPDATED: Électricité de France has settled a dispute over the sale of its interest in three US nuclear power plants that led to a “baseball arbitration”, a rare use of the ICC’s pre-arbitral referee procedure and a full-blown ICC arbitration that produced an award within 10 months.

16 November 2021

Vattenfall saga at an end

A long-running ICSID arbitration worth nearly €8 billion brought by Swedish power company Vattenfall over Germany’s phase-out of nuclear energy has been discontinued after a €1.4 billion settlement took effect.

12 November 2021

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