Work Area: Sovereign immunity

French court upholds seizure of Iraqi bank assets

The Paris Court of Appeal has allowed a Dutch supplier of night vision goggles to seize funds belonging to Iraq’s second-largest bank to satisfy a pair of ICC awards issued against Iraqi ministries two decades ago.

07 August 2023

Nigeria too late to invoke state immunity in London

A UK appeal court has affirmed that a judge who granted ex parte enforcement of an investment treaty award against Nigeria did not have to undertake further investigation of sovereign immunity issues in circumstances where the state missed a deadline to challenge the order.

25 July 2023

Spain fails to halt enforcement of intra-EU award in London

A UK court has ruled for the first time that Spain cannot avoid enforcement of an ICSID award by invoking EU law prohibitions on intra-EU investment arbitration.

25 May 2023

Another of Spain’s ICSID creditors heads to Australia

A Florida-based renewable energy group is the latest of Spain’s ICSID creditors to seek enforcement in the Australian courts.

17 May 2023

LIDW discusses claims mechanisms for Ukraine war damage

A panel at London International Disputes Week considered the mechanisms available to parties seeking compensation for damages suffered as a result of Russia’s invasion of Ukraine.

16 May 2023

Swiss court refuses to attach Spain’s assets

The Swiss Federal Supreme Court has rejected a bid to attach assets belonging to Spain, affirming that an ICSID award holder targeting a foreign state’s assets must demonstrate the matter has a “sufficient domestic connection” to Switzerland.

03 May 2023

Australia’s top court rejects Spain’s immunity defence

Australia’s highest court has affirmed that Spain cannot invoke sovereign immunity to avoid the recognition and enforcement of a €101 million ICSID award – and that the European Court of Justice’s prohibition against intra-EU investment arbitration is irrelevant to this question.

12 April 2023

Award holder freezes Spanish assets in London

Spain’s quixotic battle with renewable energy creditors has taken a new turn as an award holder freezes state assets including the London premises of the country’s language and cultural centre, the Cervantes Institute.

06 April 2023

China defeats treaty claim over panda reserve

A split tribunal has refused to hear a US$170 million treaty claim brought against China by a Singaporean investor whose phosphate mining activities were curtailed to make way for a panda reserve.

28 February 2023

Malaysian assets frozen again in Luxembourg

Luxembourg assets belonging to Malaysia’s national oil company have been frozen for a second time at the request of Philippine nationals seeking to enforce a US$15 billion award against the Asian state.

16 February 2023

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