Topic: Settlements

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

ICC claim over LatAm casino venture to settle

South African casino hotel chain Sun International has agreed to settle a dispute with its Chilean joint venture partner that gave rise to an ICC arbitration and sell its stake in the venture for US$160 million.

21 August 2020

Nigerian oil block dispute to settle

The Nigerian National Petroleum Corporation (NNPC) has agreed preliminary settlement terms for a long-running tax dispute with two investors in an offshore oil and gas block that gave rise to a pair of under-the-radar arbitrations.

20 August 2020

ICSID creditors fall out over Zimbabwe settlement

As Zimbabwe announces it will pay US$3.5 billion to white farm owners who were stripped of their land during the regime of former president Robert Mugabe, it has emerged that two of the state's ICSID creditors are suing each other in London over awards worth US$125 million arising from the same expropriation programme.

11 August 2020

German investor fails to revive settlement with Libya

A French court has refused to reinstate a US$120 million consent award in an investment treaty case against Libya that was rescinded after the tribunal found that the German claimant procured the settlement fraudulently.

17 July 2020

Dispute settles over Swiss bank linked to 1MDB scandal

Italy’s largest insurer Assicurazioni Generali has settled an arbitration over the US$1.6 billion sale of a Swiss private bank that was implicated in Malaysia’s 1MDB embezzlement scandal.

16 June 2020

Pandemic sinks settlement of Egyptian gas plant dispute

A settlement agreed by Egypt earlier this year to satisfy a US$2 billion ICSID award has fallen through, with sources suggesting the coronavirus is to blame.

27 April 2020

Australian energy companies settle Senegal oilfield dispute

Australia's Woodside Petroleum and FAR have settled an ICC arbitration over a stake in a US$4.2 billion oil project in Senegalese waters, after the tribunal issued an award in favour of Woodside last month.

30 March 2020

Billion-dollar Odebrecht dispute settled through mediation

A Dominican state entity has agreed to pay just under US$400 million to settle a dispute with an Odebrecht-led consortium that had sought almost US$1 billion in damages, following ICC mediation proceedings in New York.

18 March 2020

Conoco settles tax dispute with Vietnam

ConocoPhillips has settled a dispute with Vietnam over a capital gains tax bill arising from a billion-dollar sale of assets to Perenco – which had led the two companies to jointly bring an investment treaty claim.

22 January 2020

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