Arent Fox LLP, on behalf of UAB Skyroad Leasing, filed a petition in the US District Court for the District of Columbia on March 18, 2020, seeking to enforce an arbitration award of more than $20 million against OJSC Tajik Air, Tajikistan’s state-owned airline.
The typical path for the Antitrust Division of the US Department of Justice when it determines that a contemplated merger is anticompetitive is to sue in federal court to block the merger.
The release on December 12, 2019, of the Hague Rules on Business and Human Rights Arbitration (the BHR Rules) offers a new and innovative dispute resolution option in the field of corporate responsibility.
IAReporter reports that on January 27, 2020, in the case of Dirk Herzig as Insolvency Administrator of the Assets of Unionmatex v. Turkmenistan, an ICSID tribunal, comprised of Nathalie Voser, Philippe Sands, and Lucy Reed as chair, granted Turkmenistan’s request for security for costs because of th
On October 22, 2019, a Dutch Court of Appeal in the Hague set aside an ICC arbitral award in the amount of USD 11.7 million against PDVSA-subsidiary Bariven on the ground that the underlying purchase contract with supplier Wells Ultimate Service was procured through corruption.
The Court of Justice of the European Union (ECJ) issued a judgment determining that a 2013 law of Hungary, that canceled usufruct rights to all except those with “close family ties” with the owner, constituted a deprivation of property under the Charter of Fundamental Rights of the European Union.
On May 20-22, 2019, at the annual meeting of the American Law Institute in Washington, DC, members will vote to adopt the first Restatement of the US Law of International Commercial and Investor-State Arbitration.
On 12 April, Djibouti became the 163rd country to sign the ICSID Convention. Its membership will be complete once it has ratified the Convention. To date the Convention has been ratified by 153 States.
An arbitration brought by Petróleos de Venezuela (PDVSA) against Petróleos Paraguayos (Petropar), filed in July 2016 before the Paris-based International Court of Arbitration of the International Chamber of Commerce (ICC), has been temporarily suspended.
Brexit woes in 2018 did not deter parties from referring disputes to the LCIA. The LCIA released its Annual Casework Report, revealing a growing preference for use of the institution’s Rules, increased recourse to expedited procedures, and parties hailing to the LCIA from diverse regions.
On March 15, 2019, the International Centre for the Settlement of Disputes released Working Paper # 2 with comments and proposals for amendment of the ICSID Arbitration Rules.
The US Court of Appeals for the Ninth Circuit recently reversed a district court’s order treating an arbitrator’s order as a foreign arbitral award under the New York Convention.
The International Centre for Settlement of Investment Disputes (ICSID) released its 2018 caseload statistics. ICSID registered a record 56 new cases: 49 under the ICSID Convention Arbitration Rules; 6 under the Additional Facility Rules; and 1 under the ICSID Convention Conciliation Rules.
In late 2017, Evergrande Health, a Chinese company, reportedly invested approximately $2 billion in Faraday Future, Inc., a US-based automotive and technology company.