Work Area: Enforcement and set-aside

Venezuelan state entity dodges ICSID enforcement in Singapore

Singapore’s High Court has refused to allow one of Venezuela’s ICSID creditors to enforce a US$500 million-plus award against the assets of a state-owned entity facing US sanctions.

20 July 2022

Seychelles telecoms group seeks to enforce against Guinea

A Seychelles-incorporated telecoms group has asked a US court to enforce a US$25 million ICC award against Guinea after the state failed to have it set aside on grounds of alleged corruption.

20 July 2022

Russia fails to quash jurisdictional awards in Crimea cases

UPDATED: A Dutch court has affirmed the jurisdiction of four UNCITRAL tribunals to hear Ukrainian investors’ treaty claims against Russia over assets in Crimea, including a US$10 billion claim by Naftogaz and others linked to oligarch Igor Kolomoisky.

19 July 2022

Luxembourg’s top court blocks Micula award

The Luxembourg Court of Cassation has quashed the enforcement of the Micula brothers’ ICSID award against Romania on the basis that the arbitration clause in the underlying investment treaty was nullified when the state joined the European Union.

18 July 2022

Spat over Shaq leads to ICC award

A Polish foundation has sought to enforce an ICC award over a failed plan to bring retired American basketball player Shaquille O’Neal to Warsaw to participate in events celebrating the 100th anniversary of Poland’s independence.

14 July 2022

California businessman can bring late challenge to Burford award

An English court has said a California businessman is not too late to challenge an LCIA award that requires him to pay more than US$60 million in compound interest to a subsidiary of Burford Capital for breach of a litigation funding deal.

13 July 2022

Malaysia gets stay of mega-award as assets frozen in Luxembourg

A French court has granted Malaysia a stay of a US$15 billion award won by heirs to a sultanate on the island of Borneo after finding its enforcement could infringe on the country’s sovereignty – as the heirs secure an attachment over Luxembourg subsidiaries of the Malaysian national oil company.

12 July 2022

Exxon and Shell can enforce parts of Nigerian oilfield award

A US appeals court has found partly in favour of ExxonMobil and Shell in a long-running fight with Nigeria’s national oil company over a US$2.7 billion award rendered a decade ago – as a separate dispute erupts over the proposed US$1.3 billion sale of one of the west African state’s largest oil producers.

11 July 2022

UK court pauses bid to enforce contraceptives award

An Irish pharmaceutical company seeking to enforce an ICC award over intellectual property rights for oral contraceptive products must wait for a Dutch court to decide on a set-aside application, an English judge has ruled.

08 July 2022

BVI court upholds costs award in dispute over Chinese taxes

A costs award issued by an LCIA tribunal in favour of two Chinese companies has been upheld after a court in the British Virgin Islands ruled that the Chinese tax authorities had no interest in the award.

06 July 2022

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