Work Area: Enforcement and set-aside
Madagascar fails to annul clothes factory award
A split ICSID committee has upheld an award requiring Madagascar to pay €7 million to two Belgian brothers whose clothes factory was looted and burned down – rejecting arguments that the state didn't have effective legal representation during the arbitration.
20 October 2022
UK judge rejects apparent bias challenge in power dispute
A UK judge has refused to disqualify three arbitrators from a US$500 million power supply dispute that has led to allegations of fraud, while taking issue with the view that the UNCITRAL rules permit interim remedies to be granted in the form of an award.
18 October 2022
Croatia fails to reopen award after bribery verdict
A Swiss court has refused Croatia’s request for review of an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister, ruling the arbitrators were not bound by the findings of the Croatian criminal courts.
13 October 2022
Yukos shareholders to auction Russian vodka trademarks
The former Yukos majority shareholders are preparing to auction off seized trademarks to “iconic” Russian Vodka brands in the Netherlands, as they seek to cash in on their US$50 billion awards against the state.
11 October 2022
Ecuador lodges further appeal over Chevron award
Ecuador has appealed to the Dutch Supreme Court to challenge an investment treaty award that held the state liable for a denial of justice in a US$9.5 billion environmental dispute with US oil company Chevron.
11 October 2022
Swiss court upholds multibillion-dollar Yukos award
UPDATED: The Swiss Supreme Court has upheld a multibillion-dollar award issued against Russia in one of the second wave of Energy Charter Treaty cases relating to the collapse of Yukos.
07 October 2022
Businessman backs Mexico’s challenge to NAFTA award
A businessman has made an unusual intervention in support of Mexico’s challenge to a NAFTA award, arguing the arbitrators’ finding that he masterminded a fraudulent scheme was “devastating” to his reputation.
06 October 2022
Chinese cinema award enforced in US
A US court has enforced a US$450 million CIETAC award against a Chinese billionaire over investments in a cinema company, rejecting arguments that the tribunal was biased and failed to properly address his allegations of fraud.
04 October 2022
Canada BIT award upheld at ICSID
A subsidiary of Russian-owned telecoms group Veon has failed to revive a US$1.8 billion investment treaty claim against Canada – while the state has also failed to partially annul the award.
03 October 2022
French court won’t revive treaty claim against Venezuela
The Paris Court of Appeal has refused to resurrect a US$600 million BIT claim brought by two real estate investors against Venezuela, ruling the arbitrators were right to find the treaty’s offer of UNCITRAL arbitration was “obsolete”.
03 October 2022