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An ICSID committee has upheld the largest award yet issued against Spain over its renewable energy reforms, rejecting arguments that the investor had “unclean hands” or that the tribunal should not have agreed to hear an intra-EU dispute.
28 March 2022
France’s Court of Cassation has refused to reinstate a US$15 million investment treaty award against Kyrgyzstan that was annulled because of indications of money laundering.
24 March 2022
Sons of a prominent Russian businessman took part in a “dishonest scheme” with a bank executive to replace US$500 million worth of secured loans with “unmarketable” bonds, according to a now-public LCIA award.
22 February 2022
Beny Steinmetz’s eponymous mining company may seek to overturn a US$2 billion LCIA award in favour of Brazil’s Vale following the collapse of a related fraud litigation this week, the Israeli businessman’s lawyers have said.
17 February 2022
A Swiss court has upheld an ICC award requiring Italian power utility Edison to pay over €91 million to Belgian chemicals producer Solvay for breaches of environmental guarantees relating to the sale of two industrial plants two decades ago.
16 February 2022
A Brazilian energy company says an ICC tribunal has rejected its US$1.5 billion claim against a subsidiary of Malaysia’s national oil and gas company Petronas over its decision to pull out of a deal to acquire oil assets off the coast of Rio de Janeiro.
15 February 2022
Nigeria has overturned orders in the courts of the US and British Virgin Islands that blocked it from obtaining discovery to support its allegations that a gas company procured a US$10 billion award against the state through fraud.
08 February 2022
An Austrian pharmaceuticals company has asked a US court to grant discovery to support criminal allegations that its Taiwanese partner has made fraudulent statements in two ICC arbitrations arising from a multibillion-euro dispute over a blood cancer drug.
20 January 2022
A SIAC tribunal has ordered a Vietnamese media group to pay nearly US$27 million to the Korean buyers of its interest in an electronic payments business that was implicated in an illegal online gambling ring.
13 January 2022
An LCIA tribunal has reportedly upheld fraud claims by two bailed-out banks against companies linked to the family of a Russian property tycoon but is still to rule on a claim for US$475 million in losses.
17 December 2021
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