Topic: Settlements

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

Cook Islands defeats claim over medical school

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

Rio Tinto settles feud over funding of Mongolian project

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

ICC claim over nuclear fuel venture settles

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

Uruguay settles billion-dollar port dispute

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

GE settles Slovenian power plant dispute

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

Egyptian LNG saga finally at an end

After a previous settlement was sunk by the coronavirus pandemic, Egypt has finally concluded its long-running dispute with Spain’s Naturgy and Italy’s Eni over a gas liquefaction plant, which gave rise to a US$2 billion ICSID award and several high-value commercial arbitrations.

12 March 2021

US-Chinese pharma dispute settles at ICC

US and Chinese pharma companies have settled an ICC arbitration over the licensing of rights to promote a breast cancer drug in Greater China.

02 March 2021

Fujitsu settles second dispute over cancelled NHS contract

Japan’s Fujitsu has settled a £350 million LCIA arbitration with a subcontractor on a cancelled project to upgrade an IT system for the UK’s National Health Service.

22 February 2021

Bolivia settles with Chinese state entities

Bolivia has settled a dispute with Chinese state-owned steelmakers over the suspension of construction works for an iron ore processing plant.

19 February 2021

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