Work Area: Enforcement and set-aside

Czech Republic challenges plasma award

The Czech Republic has applied to annul a US$650 million treaty award holding it liable for frustrating the investment of a blood plasma supplier and its owner, including through the state's actions in an earlier contractual arbitration, while revealing the investors had sought up to US$2.2 billion.

17 June 2022

ICSID panel upholds renewables award against Spain

An ICSID annulment committee has upheld a €60 million renewables award won against Spain by Deutsche Bank-affiliated funds, dismissing arguments the arbitral tribunal wrongly upheld jurisdiction over the intra-EU dispute and should have applied EU state aid law.

16 June 2022

Burford wins enforcement against Kyrgyzstan

A Burford Capital subsidiary has won default judgment in its bid to enforce a US$25 million investment treaty award against Kyrgyzstan after the state failed to show up for the US proceedings.

15 June 2022

Albania fails to overturn highway award in Paris

A Paris court has upheld a US$44 million ICC award against Albania over a mountain highway project – issuing an apparent first-of-its-kind decision that the failure to raise a claim in a prior dispute board proceeding is a matter of admissibility, not jurisdiction.

15 June 2022

Korean executive evades share buyback in latest ICC claim

UPDATED: A Singaporean private equity firm has persuaded an ICC tribunal that it may force the chairman of one of South Korea’s largest insurance providers to purchase US$340 million in shares – while failing to secure an order for the sale as the correct valuation had not been put forward.

14 June 2022

Spain fails in latest solar award challenge

An ICSID annulment committee has upheld a €28 million Energy Charter Treaty award won by a group of UK renewables investors against Spain, dismissing arguments the claimants fraudulently lied about the capacity of their solar facilities to access subsidies.

14 June 2022

Contractor pursues triple enforcement bid against Guatemala

A Guatemalan construction company has asked a US court to enforce three awards together worth at least US$60 million including interest that it won against Guatemala over its work on road rehabilitation projects.

13 June 2022

Paris court upholds billion-dollar award against Venezuela

The Paris Court of Appeal has at the second time of asking upheld a Canadian gold mining company’s US$1.7 billion investment treaty award against Venezuela, ruling a limitation period for bringing claims did not curtail the tribunal’s jurisdiction.

10 June 2022

India fails to upend latest award in protracted oil and gas dispute

The English Commercial Court has dismissed India’s challenge to a previously undisclosed US$111 million UNCITRAL award issued in its 11-year and still-pending dispute with Reliance Industries and BG Group over oil and gas fields.

09 June 2022

Spanish court revives Pey Casado saga

A Spanish court has frozen assets of Chile’s national copper company after ruling that the state should pay US$552 million to satisfy a 14-year old ICSID award relating to the seizure of a newspaper during the Pinochet era.

09 June 2022

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