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Pakistan faces payout over Sharif asset hunt

Pakistan faces payout over Sharif asset hunt

20 July 2018

A hearing on damages has taken place this week in a politically sensitive claim against Pakistan worth at least US$600 million, brought by a company that was hired to track down the assets of the country’s disgraced former prime minister Nawaz Sharif.

Venezuelan mining award upheld in Miami

Venezuelan mining award upheld in Miami

20 July 2018

A court in Miami has ordered the enforcement of a US$63 million partial award against a Venezuelan state-owned mining company after an iron ore project with a British Virgin Islands commodities company went awry during the economic turmoil following Hugo Chávez's death in 2013.

Treaty claim against Peru moves to ICSID

Treaty claim against Peru moves to ICSID

20 July 2018

ICSID has taken on the administration of a two-year old treaty claim now worth US$1.8 billion that has been brought against Peru by a US hedge fund for destroying the value of bonds issued to Peruvians 50 years ago by the country’s former left-wing dictatorship.

Freshfields practice head joins Clifford Chance in Frankfurt

Freshfields practice head joins Clifford Chance in Frankfurt

20 July 2018

Moritz Keller, the German head of Freshfields Bruckhaus Deringer’s international arbitration practice in Vienna, has joined Clifford Chance as a partner in its Frankfurt office.

AfricArb launches in Paris

AfricArb launches in Paris

20 July 2018

After being dreamt up during Paris Arbitration Week, a new non-profit organisation of young practitioners named AfricaArb has launched in the French capital, with the aim of furthering the development of arbitration as an efficient and accessible method of dispute resolution in Africa.

Brussels pours cold water on intra-EU treaty arbitration

Brussels pours cold water on intra-EU treaty arbitration

19 July 2018

In a communication with implications for hundreds of pending cases, the European Commission in Brussels has stated that investors cannot invoke arbitration under intra-EU bilateral investment treaties or the Energy Charter Treaty for intra-EU disputes.

California open to business after signing new bill into law

California open to business after signing new bill into law

19 July 2018

California – the world’s fifth-largest economy – looks set to overhaul its reputation as an arbitral hub after its governor approved a bill expressly permitting out-of-state and foreign lawyers to appear in international arbitrations seated there.

New Africa Commission at ICC

New Africa Commission at ICC

19 July 2018

The ICC International Court of Arbitration has launched an Africa Commission to coordinate its “expanding range of activities and growth on the continent” and expand the pool of African arbitrators.

Total and Uganda settle tax dispute

Total and Uganda settle tax dispute

19 July 2018

A Dutch subsidiary of Total and Uganda have asked ICSID to discontinue their dispute over the imposition of stamp duty on an oil block near Lake Albert after reaching a settlement.

US court enforces ICSID award against Kyrgyzstan

US court enforces ICSID award against Kyrgyzstan

18 July 2018

A US appeals court has affirmed a decision recognising and enforcing a US$8.5 million ICSID award in favour of a Turkish hotel investor against Kyrgyzstan over the expropriation of its hotel during the Tulip Revolution of 2005 – saying that the ICSID additional facility rules were correctly applied.