Topic: Settlements
Venezuela settles beef with cattle farmers
The administration of Venezuela’s opposition leader Juan Guaidó has agreed to pay around US$110 million to satisfy an ICSID award won by a British family business over the expropriation of its cattle farms.
20 January 2021
Alpiq pays to settle M&A dispute
Swiss energy company Alpiq has settled a €300 million dispute over the sale of its engineering services business that had been playing out in arbitration in Zurich.
07 January 2021
Bolivian state entity settles cable-car dispute
A Bolivian state entity has paid to settle an arbitration with an Austrian contractor over a US$750 million project to develop the world’s largest cable-car system.
07 January 2021
Consortium settles Kazakh oil field dispute
An international energy consortium has paid US$1.3 billion to Kazakhstan to settle a long-running arbitration over revenue sharing at the Karachaganak oil and gas field in the northwest of the country.
15 December 2020
Libya fails in Swiss set-aside bid
A Swiss court has dismissed Libya’s challenge to a US$22 million ICC treaty award issued in favour of a Turkish contractor after the state failed to comply with a settlement agreement.
08 December 2020
Peruvian state bank settles gold mine dispute
A Peruvian state-owned development bank has agreed to pay US$34 million to a Canadian-listed mining company to satisfy a Lima arbitration award and settle a dispute over the financing of a gold project.
30 November 2020
Guatemala pays ICSID award to avoid default
Guatemala has paid US$37.3 million to an ICSID creditor to lift an attachment on bond payments and avoid a sovereign default – though it has still to honour another award worth US$55 million rendered in the same dispute.
26 November 2020
Colombian pipeline dispute settles
Canada’s Frontera Energy has settled a pair of arbitrations with Colombian state-owned oil company Ecopetrol over terminated contracts for two of the Latin American country’s key oil pipelines.
26 November 2020
UK oil company withdraws claim against Uganda
The UK’s Tullow Oil has withdrawn its ICSID claim against Uganda relating to a dispute over VAT after reaching a settlement with the state and its revenue authority.
19 November 2020
Vietnamese gas block dispute settles at SIAC
A Singapore oil and gas company says it has settled a SIAC claim against a subsidiary of Japan’s Inpex Corporation over the purchase of a US$14 million stake in a Vietnamese offshore gas block.
12 November 2020