Topic: Settlements

Novavax pays to settle covid-19 vaccine dispute

US biotech company Novavax has agreed to pay US$400 million to settle an ICC claim brought by global health organisation Gavi over a cancelled contract to supply covid-19 vaccines to low and middle-income countries.

22 February 2024

Oxy agrees to settle dispute with Ecuador oil block partner

Occidental Petroleum says it has reached a preliminary settlement with its Chinese former partner in an Ecuadorean oil block to settle a long-running fight over the proceeds of an ICSID award.

13 February 2024

US pharmacy chain settles drug pricing dispute

A US pharmacy chain has settled a dispute over a US$642 million JAMS award it had alleged was tainted by the “unethical side-switching” of the counterparty’s law firm, Crowell & Moring.

15 January 2024

Turkey settles uranium mining dispute

Turkey has paid US$3.1 million to a US mining company to settle an ICSID dispute over revoked uranium project licences after defeating the bulk of its claim for damages.

15 December 2023

Tanzania pays out to settle mining claim

A Canadian gold mining company says it has received US$30 million from Tanzania to settle their ICSID dispute over the revocation of a project licence.

16 October 2023

Shipping groups settle dispute over failed multibillion merger

A Belgian shipping company has settled an arbitration it filed against a Norwegian transporter after their US$4.2 billion merger fell through.

10 October 2023

Canadian gold mining company settles with Tanzania

A Canadian gold mining company has agreed to settle its ICSID dispute with Tanzania over the revocation of a project licence.

29 September 2023

Lithuanian power plant dispute settles in Stockholm

A Polish contractor has agreed to pay nearly €30 million to a Lithuanian state-controlled energy group to settle a Stockholm Chamber of Commerce arbitration over unfinished work on a biomass incineration unit.

14 September 2023

Vedanta settles feud over Zambian copper venture

Mining group Vedanta Resources has agreed a billion-dollar settlement with a Zambian state-owned entity to regain control of a copper-mining venture and bring an end to an UNCITRAL arbitration seated in South Africa.

06 September 2023

Grenada settles ICSID case over hotel resort

Grenada has reached an agreement with a group of US investors to settle a US$200 million ICSID case over a stalled project to develop a luxury hotel resort.

31 August 2023

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