Topic: Sovereign immunity

Venezuelan state entity dodges ICSID enforcement in Singapore

Singapore’s High Court has refused to allow one of Venezuela’s ICSID creditors to enforce a US$500 million-plus award against the assets of a state-owned entity facing US sanctions.

20 July 2022

Luxembourg’s top court blocks Micula award

The Luxembourg Court of Cassation has quashed the enforcement of the Micula brothers’ ICSID award against Romania on the basis that the arbitration clause in the underlying investment treaty was nullified when the state joined the European Union.

18 July 2022

Multi-billion attachment against Kazakh fund lifted in sovereign immunity ruling

The Hague Court of Appeal has lifted a US$5.2 billion attachment order imposed on Kazakhstan’s sovereign wealth fund as part of efforts to enforce an Energy Charter Treaty award against the state – as the Moldovan creditors instruct a new counsel team in the long-running dispute.

23 June 2022

India withdraws from airline payments system

India’s airports authority has withdrawn from an international system for collecting airline fees after its funds were frozen by telecoms investors seeking to enforce investment treaty awards.

16 May 2022

Australia’s highest court to hear Spain’s appeal on sovereign immunity

The High Court of Australia has granted Spain special leave to appeal the recognition of a €101 million ICSID award obtained by a Luxembourgish investor affected by its renewable energy reforms.

31 March 2022

Recent US law developments on sovereign immunity

Eversheds Sutherland's Will O’Brien and Ulyana Bardyn consider recent US law developments on sovereign immunity in the P&ID v Nigeria case.

24 March 2022

India gets more time to challenge enforcement in Singapore

The Singapore High Court has ruled that as a foreign state India is entitled to an extra two months to challenge enforcement of a US$137 million investment treaty award and that it does not have to provide security.

15 March 2022

UK court upholds enforcement against Libya

The Commercial Court in London has upheld an order enforcing a £16 million ICC award against Libya while ruling a US-owned defence contractor should be deprived of court costs for failing to raise sovereign immunity issues.

14 March 2022

Pakistan fails to stay Tethyan award in US

A US court has rejected Pakistan’s bid to stay enforcement of an Australian mining venture’s US$6 billion ICSID award, calling the state’s hopes of annulling the award “wishful thinking”.

11 March 2022

New Zealand courts hear first ICSID recognition bid

A court in New Zealand has said it can hear a request for recognition of an ICSID award against Hungary, even though there is no evidence the state has any assets in the jurisdiction.

04 February 2022

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