Work Area: Commercial arbitration
European investors bring ICC claim against Vietnam
German and Portuguese entities have launched an ICC claim against Vietnam and two state-owned banks over the alleged misappropriation of €10 billion in funds.
28 February 2023
ICC decides fight over Romanian oil and gas block
A Jersey oil and gas company says it has won an ICC arbitration against its Kazakh state-owned former partner in an onshore exploration block in Romania.
24 February 2023
Bolivia challenges treaty award in pensions dispute
Bolivia has confirmed it is challenging a US$105 million investment treaty award in favour of a Spanish banking group as it provides updates on nine other pending arbitrations.
23 February 2023
Russian court restrains SCC case against Rosneft entity
A Russian court has ordered a Texas oil company to refrain from pursuing a Stockholm Chamber of Commerce arbitration against a Rosneft subsidiary or face a US$148 million penalty – as a final award in the dispute comes to light.
22 February 2023
Czech investor wins damages over bank collapse
Brussels-based banking group KBC says its subsidiary has been ordered to pay US$167 million to a Czech investor in a dispute over the collapse of a major bank – 16 years after the arbitration was first filed.
22 February 2023
French utility pursues Gazprom over supply shortage
French utility Engie says it is pursuing arbitration against Gazprom’s export arm, accusing the Russian state entity of gas delivery shortages following a payment dispute.
21 February 2023
Japanese pharma group declares win in billion-dollar royalties dispute
Japan’s Mitsubishi Tanabe Pharma Corporation says it has defeated an ICC claim brought by Switzerland’s Novartis over royalties for a treatment for multiple sclerosis – a dispute understood to be worth around US$3 billion.
20 February 2023
Mourre calls for universal standard of disclosure
Former ICC Court president Alexis Mourre used a keynote speech at GAR Live Abu Dhabi to call for a single, universal standard for arbitrator disclosure based on objective and subjective perspectives.
20 February 2023
LCIA awards upheld in Pakistan gas dispute
An English court has upheld LCIA awards worth US$88 million in favour of a Pakistani state-owned energy company, ruling the challenge was based on a mutual misunderstanding of the arbitrator’s findings.
20 February 2023
Korean shipbuilder settles billion-dollar claim
A Korean shipbuilder has reportedly agreed to pay to settle a dispute with Japanese oil and gas producer Inpex that gave rise to a US$970 million ICC case.
17 February 2023