Topic: Settlements

India moves to settle tax claims

India is moving to nullify a retrospective tax law that led to high-profile treaty awards for Vodafone and Cairn Energy, and is offering to refund companies that were affected provided they drop their claims.

05 August 2021

Spanish contractor to settle Panamanian hospital dispute

A Spanish construction company has reportedly agreed to withdraw a US$125 million ICC claim against a Panamanian state entity over a hospital project that was disrupted by a bribery investigation and the covid-19 pandemic.

29 July 2021

Meydan settles Dubai racecourse dispute

Emirati real estate developer Meydan has agreed to pay US$198 million to a Malaysian construction group to satisfy a DIAC award over a cancelled contract to build a racecourse in Dubai.

14 July 2021

Areva and EDF settle dispute over reactor defects

Areva is to pay €563 million to Électricité de France to settle two ICC arbitrations over defective work by its former nuclear reactor business, Framatome.

02 July 2021

Indian prosecution of marines halted after PCA award

India’s Supreme Court has quashed criminal proceedings against two Italian marines accused of killing two fishermen after Italy paid compensation in line with the award of an arbitral tribunal at the Permanent Court of Arbitration in The Hague.

15 June 2021

Morocco settles tunnel dispute

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

Nigeria in new ICC dispute over hydro project

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

Sierra Leone settles mining claims

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

Baker Hughes settles claims over German gas storage caverns

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

Occidental ordered to hand over share of ICSID award

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

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