Topic: Settlements

US chemical companies settle multibillion-dollar environmental claims

The DuPont Company and its spin off business Chemours have reached a US$4 billion settlement of several claims, including an AAA arbitration, relating to environmental liabilities for the production of “forever chemicals.”

28 January 2021

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The UK’s Tullow Oil has withdrawn its ICSID claim against Uganda relating to a dispute over VAT after reaching a settlement with the state and its revenue authority.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

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