Topic: Settlements

Dispute settles over Swiss bank linked to 1MDB scandal

Italy’s largest insurer Assicurazioni Generali has settled an arbitration over the US$1.6 billion sale of a Swiss private bank that was implicated in Malaysia’s 1MDB embezzlement scandal.

16 June 2020

Pandemic sinks settlement of Egyptian gas plant dispute

A settlement agreed by Egypt earlier this year to satisfy a US$2 billion ICSID award has fallen through, with sources suggesting the coronavirus is to blame.

27 April 2020

Australian energy companies settle Senegal oilfield dispute

Australia's Woodside Petroleum and FAR have settled an ICC arbitration over a stake in a US$4.2 billion oil project in Senegalese waters, after the tribunal issued an award in favour of Woodside last month.

30 March 2020

Billion-dollar Odebrecht dispute settled through mediation

A Dominican state entity has agreed to pay just under US$400 million to settle a dispute with an Odebrecht-led consortium that had sought almost US$1 billion in damages, following ICC mediation proceedings in New York.

18 March 2020

Conoco settles tax dispute with Vietnam

ConocoPhillips has settled a dispute with Vietnam over a capital gains tax bill arising from a billion-dollar sale of assets to Perenco – which had led the two companies to jointly bring an investment treaty claim.

22 January 2020

Ukrainian oligarch settles telecoms dispute

Ukrainian businessman Rinat Akhmetov’s SCM Group has settled a dispute over the sale of a telecoms company that gave rise to a US$820 million LCIA award and high-profile asset freezes in England, Cyprus and the Netherlands.

01 October 2019

ICSID settlement triggers Argentine criminal investigation

As Argentina’s centre-right president Mauricio Macri suffers a shock defeat in a primary vote, a prosecutor in the country has opened a criminal investigation into the settlement of an ICSID case that is alleged to have financially benefited the president’s family.

15 August 2019

Eni pays award over “frustrated” LNG import deal

Italian energy company Eni has paid €330 million to satisfy an ICDR award after prevailing on its claim that a long-term contract for regasification and import services was frustrated by the shale gas revolution in the United States.

08 August 2019

Settlement of Libya claim overturned after fraud finding

An UNCITRAL tribunal has overturned a US$120 million consent award that brought an end to a treaty claim against Libya after finding that the German claimant had taken advantage of the political turmoil in the country to procure the settlement through fraud.

13 June 2019

LCIA rules on dispute over Kurdistan settlement

Two Emirati energy companies have prevailed in an LCIA claim against a consortium partner that contested their decision to settle a US$39 billion dispute with the Kurdistan regional government of Iraq two years ago.

16 May 2019

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