Topic: Settlements
Egypt settles with Finnish iron investor
Egypt has reached an agreement with a Finnish businessman to settle a treaty award worth US$121 million over the loss of his iron and steel investments – ending a dispute that led to enforcement actions across three continents and a second treaty claim over the state’s refusal to pay.
09 December 2021
Norilsk Nickel settles with Botswana over botched asset sale
The world’s largest nickel producer says it is has settled a dispute with the Botswanan government over the aborted sale of its African assets, which gave rise to an LCIA claim worth US$277 million.
18 November 2021
EDF settles ICC dispute over sale of nuclear assets
UPDATED: Électricité de France has settled a dispute over the sale of its interest in three US nuclear power plants that led to a “baseball arbitration”, a rare use of the ICC’s pre-arbitral referee procedure and a full-blown ICC arbitration that produced an award within 10 months.
16 November 2021
Vattenfall saga at an end
A long-running ICSID arbitration worth nearly €8 billion brought by Swedish power company Vattenfall over Germany’s phase-out of nuclear energy has been discontinued after a €1.4 billion settlement took effect.
12 November 2021
Shareholders settle non-compete dispute at SIAC
A Singaporean asset manager has agreed to settle a SIAC claim in which it accused fellow shareholders in an Indian oilfield equipment maker of diverting business to competitors.
05 November 2021
1MDB not too late to challenge Abu Dhabi settlement
The Commercial Court in London has ruled that Malaysian sovereign wealth fund 1MDB is not too late to challenge a multibillion-dollar arbitral settlement with an Abu Dhabi government-owned entity that it alleges was intended to cover up a massive fraud.
04 November 2021
Cairn settles tax dispute with India
The UK’s Cairn Energy has agreed to forgo enforcement of a billion-dollar investment treaty award against India as it takes advantage of new legislation allowing the refund of previously collected taxes.
04 November 2021
Gazprom and Eni settle Stockholm arbitration
Russia’s Gazprom Export and Italy’s Eni have agreed to revise the terms of their long-term supply contracts, settling disputes that had gone to arbitration in Stockholm.
29 October 2021
Inpex settles dispute over Australian LNG project
Japanese oil and gas company Inpex has settled an ICC dispute over the US$45 billion construction of a liquefied natural gas project on the western coast of Australia.
20 October 2021
Samsung Heavy settles oil platform dispute
South Korea’s Samsung Heavy Industries has settled a US$600 million ICC arbitration with Japanese oil company Inpex that arose from the late completion of a project to build the world’s largest floating offshore gas processing unit off the Australian coast.
04 October 2021