Topic: Settlements
Egyptian LNG saga finally at an end
After a previous settlement was sunk by the coronavirus pandemic, Egypt has finally concluded its long-running dispute with Spain’s Naturgy and Italy’s Eni over a gas liquefaction plant, which gave rise to a US$2 billion ICSID award and several high-value commercial arbitrations.
12 March 2021
US-Chinese pharma dispute settles at ICC
US and Chinese pharma companies have settled an ICC arbitration over the licensing of rights to promote a breast cancer drug in Greater China.
02 March 2021
Fujitsu settles second dispute over cancelled NHS contract
Japan’s Fujitsu has settled a £350 million LCIA arbitration with a subcontractor on a cancelled project to upgrade an IT system for the UK’s National Health Service.
22 February 2021
Bolivia settles with Chinese state entities
Bolivia has settled a dispute with Chinese state-owned steelmakers over the suspension of construction works for an iron ore processing plant.
19 February 2021
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