Mealey's International Arbitration : Mealey's : Legal News & Analysis

Mealey's International Arbitration

December 09, 2024
ConocoPhillips’ Writ To Enforce $10.4B Awards Against Venezuela Upheld

WASHINGTON, D.C. — The Third Circuit U.S. Court of Appeals on Dec. 5 affirmed the issuance of a writ of attachment in favor of ConocoPhillips entities seeking to enforce an International Centre for Settlement of Investment Disputes (ICSID) arbitral award worth more than $8.5 billion against the Bolivarian Republic of Venezuela and a $1.9 billion International Chamber of Commerce (ICC) against its state-owned oil company at a planned auction.
December 05, 2024
Djibouti, Port Owner Dismiss Dispute Over Reversed $541M Award

WASHINGTON, D.C. — A U.S. District Court for the District of Columbia judge entered a minute order dismissing a terminal operator’s petition to confirm a more than $541 million award in its favor against the Republic of Djibouti, which was remanded after the D.C. Circuit U.S. Court of Appeals reversed an earlier confirmation of the arbitral award, after the parties stipulated to dismiss this case while allowing certain discovery obtained to be used in related proceedings.
December 05, 2024
Award’s Reversal Caused By Flawed Jurisdictional Precedent, High Court Told

WASHINGTON, D.C. — An Indian satellite company and its shareholders and subsidiary in separate merits briefs filed Dec. 4 urged the U.S. Supreme Court to find that the reversal on jurisdictional grounds of a $1.3 billion arbitral award in their favor against an Indian state-owned company was incorrect based on “outlier” Ninth Circuit U.S. Court of Appeals precedent regarding the Foreign Sovereign Immunities Act (FSIA).
December 03, 2024
Funder Drops Suit Against Investor’s Attorney After $8.9M Hong Kong Awards Paid

WEST PALM BEACH, Fla. — A Florida federal judge on Dec. 2 entered an order dismissing with prejudice a third-party litigation funder’s lawsuit brought against the attorney for an investor currently under conservatorship in Colorado after the funder reported that it was “fully paid” in the dispute over Hong Kong International Arbitration Center (HKIAC) awards worth roughly $8.9 million.
November 27, 2024
Insureds Seek Vacatur Of Order Compelling Arbitration Of $7M Hurricane Claim

NEW ORLEANS — Citing new Louisiana Supreme Court precedent on the arbitrability of insurance claims, two New Orleans property owners filed a motion in Louisiana federal court to vacate an order compelling arbitration of their claims for $7 million in damages caused by Hurricane Ida and for bad faith against a group of foreign and domestic insurers, which was previously upheld by the Fifth Circuit U.S. Court of Appeals.
November 27, 2024
U.S. Arbitrator Can Hear U.S. Companies’ Arbitration Against Honduras

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) published a decision by the ICSID administrative chair denying the Republic of Honduras’ proposal for disqualification of a U.S. national from sitting as arbitrator in a dispute brought against it by several U.S. companies that invested in a chartered island city in a Honduran special economic zone, writing that Honduras consented to such an appointment under the relevant treaty.
November 25, 2024
Magistrate Recommends ‘Bodily Attachment’ Writ For CEO Of Company Owing Nearly $7M

MIAMI — A Florida federal magistrate judge on Nov. 22 recommended issuing a writ of bodily attachment against the president of a non-appearing corporate entity against which a more than $6.8 million judgment was previously entered reflecting a confirmed International Centre for Dispute Resolution (ICDR) arbitral award for a dispute over banana sales.
November 25, 2024
Spanish Gas Company Dismisses Bid To Vacate $197M Award

NEW YORK — Two Spanish gas companies on Nov. 22 filed a notice of voluntary dismissal in New York federal court of their petition to vacate an arbitral award against them worth approximately $197 million, which they previously asserted was procured through corruption and that enforcing it would represent double recovery for the award recipient.
November 21, 2024
Venezuela Wins Motion To Access Bid Agreement Ahead Of Oil Shares Auction

WILMINGTON, Del. — The judge overseeing the planned auction of the Bolivarian Republic of Venezuela’s oil shares in Delaware federal court to satisfy several confirmed arbitral awards and civil judgments collectively worth more than $24 billion on Nov. 20 granted a motion by Venezuela to view a share purchase agreement with a proposed buyer, finding that allowing access may “ease . . . this sprawling, complex litigation.”
November 21, 2024
Serbia Says Tribunal Properly Dismissed Canadian Dairy Investor’s 87M Euro Claim

WASHINGTON, D.C. — The Republic of Serbia urges an International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee to reject a Canadian investor’s application for annulment of a tribunal’s refusal to award him damages for the loss of indirect holdings worth 87.5 million euros, writing in a countermemorial that the tribunal properly explained its reasoning and did not exceed its powers.
November 20, 2024
Italian Company’s Bid To Enforce $21M Award Against Argentina Not Time-Barred

WASHINGTON, D.C. — A District of Columbia federal judge on Nov. 19 denied the Argentine Republic’s motion to dismiss an Italian company’s petition to enforce an International Centre for Settlement of Investment Disputes (ICSID) arbitral award against it worth more than $21 million for a water and sewage contract dispute, finding the suit not time-barred despite being filed 10 years after the ICSID award was issued.
November 20, 2024
English Appeals Court Says ICSID Convention Creates Jurisdiction Over Sovereigns

LONDON — The Court of Appeal of England and Wales issued a ruling in two consolidated investor-state disputes over enforcement of International Centre for Settlement of Investment Disputes (ICSID) arbitral awards in which it rejected jurisdictional challenges raised by the Kingdom of Spain and Republic of Zimbabwe and held that the ICSID Convention creates jurisdiction over such cases.
November 20, 2024
Judge Finds Service Defective In Bid To Confirm Singaporean $36M Consent Award

TACOMA, Wash. — A Washington state federal judge ordered a Hong Kong citizen to show cause why the court should not dismiss his petition to confirm a Singapore International Arbitration Centre (SIAC) consent award worth more than $36 million against a non-appearing U.S. citizen due to improper service, finding that the petitioner did not explain why he identified the award-debtor as a citizen of Iowa but sought to serve him at a Seattle address.
November 19, 2024
Compelling Arbitration, Judge Says MOU Is ‘Closely Related’ To Reinsurance Contract

LOS ANGELES — Concluding that a 1984 memorandum of understanding (MOU) is “closely related to the reinsurance contract and not a completely separate agreement,” a California federal judge granted reinsurers’ motion to compel arbitration in a lawsuit over reinsurance billings arising from asbestos bodily injury claims.
November 18, 2024
3rd Circuit Won’t Rehear Moroccan Hotel Investors’ 60M Euro Award Challenge

SAN FRANCISCO — The Third Circuit U.S. Court of Appeals denied a petition for panel or en banc rehearing filed by a joint venture and its partner after a split panel reversed a lower court’s grant of summary judgment on claims brought against them by a hotel owner seeking to enforce an arbitral award worth more than 60 million euros.
November 15, 2024
Nigeria Urges High Court To Review Its Arbitral Liability For ‘Sovereign’ Actions

WASHINGTON, D.C. — The Federal Republic of Nigeria filed a petition for a writ of certiorari to the U.S. Supreme Court seeking review of a split District of Columbia Circuit U.S. Court of Appeals panel’s affirmance of a $70 million arbitral award against it, which it says “extends” a circuit split over treaty interpretation and wrongly treats Nigeria as a “person” rather than a sovereign under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention).
November 15, 2024
D.C. Circuit Affirms $319M In Awards Against Zimbabwe For Damage To Plantations

WASHINGTON, D.C. — The District of Columbia Circuit U.S. Courts of Appeals affirmed the confirmation of two International Centre for Settlement of Investment Disputes (ICSID) awards collectively worth more than $319 million, one issued to the Swiss and German owners of Zimbabwean plantations and one to the plantation companies, rejecting the Republic of Zimbabwe’s argument that language in the bilateral investment treaties (BITs) at issue served as a venue provision requiring enforcement actions to be brought in its domestic courts.
November 14, 2024
United States Tells ICSID Canadian Company’s Pipeline Claim Is Time-Barred

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Nov. 13 published the United States’ memorial urging the court to dismiss during a bifurcated jurisdictional phase a Canadian province-owned oil company’s claim against it for 1.5 billion Canadian dollars in damages caused by the cancellation of the Keystone XL pipeline, writing that the company’s North American Free Trade Agreement (NAFTA) claims are time-barred.
November 13, 2024
ICSID Tribunal Partly Grants Biofuel Investor’s Request For Rectification

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Nov. 12 published a tribunal’s decision on a biofuel investor’s request for rectification of an award rejecting the investor’s claims against the Republic of Panama for lack of jurisdiction and ordering it to pay roughly $1.5 million in attorney fees and arbitration costs, agreeing to rectify typographical errors but declining to change certain summaries of facts found by the tribunal.
November 12, 2024
Indigenous Communities May Participate In Coal Mining Arbitration Against Colombia

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Nov. 11 published a tribunal’s order granting a petition by two indigenous Colombian communities to file submissions as non-disputing parties (NDPs) to the tribunal while it reviews a Swiss investor’s claim for $489.2 million against Colombia for impairing its coal mining investment, but denied a non-governmental advocacy organization’s request to participate as well.
November 11, 2024
Judge Confirms $50M NAFTA Award Against Mexico In Real Estate Dispute

WASHINGTON, D.C. — A District of Columbia federal judge on Nov. 8 granted a Canadian real estate investor’s cross-petition to confirm an International Centre for Settlement of Investment Disputes (ICSID) award in its favor against the United Mexican States worth more than $50 million for breaches of the North American Free Trade Agreement (NAFTA) and dismissed a Mexican businessman’s motion to intervene as moot.
November 08, 2024
Tribunal Grants Mexico’s Request To Bifurcate Parking Meter NAFTA Dispute

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) published a tribunal’s decision to bifurcate a U.S. metered parking system investor’s claim accusing the United Mexican States of violating the North American Free Trade Agreement (NAFTA) and U.S.-Mexico-Canada Agreement (USMCA) so that the tribunal can first address Mexico’s objections to its jurisdiction.
November 08, 2024
Judge Enters $13.7M Judgment Against Romania For Sanctions Accrued In Tax Row

WASHINGTON, D.C. — A District of Columbia federal judge on Nov. 7 granted in part a group of Swedish investors’ motion for entry of a second judgment on accrued sanctions against the government of Romania for failures to comply with discovery as the investors seek to enforce a confirmed $350 million International Centre for Settlement of Investment Disputes (ICSID) award against Romania, but reduced the investors’ request by more than $2 million.
November 07, 2024
Tribunal Won’t Disqualify Arbitrator Over Views On 3rd Party Funding

WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on Nov. 6 published a tribunal’s decision denying a mining company’s request to disqualify the United Mexican States’ arbitrator from hearing its claim for more than $362.7 million in damages, which it sought based on his statements criticizing third-party funding of international arbitration claims as potentially creating a “‘gambler’s Nirvana.’”
November 07, 2024
Guatemalan Dam Contractor Urges 11th Circuit To Rehear $7M Award Row

ATLANTA — A Guatemalan contractor on Nov. 6 petitioned the 11th Circuit U.S. Court of Appeals for panel and en banc rehearing of its appeal of an International Chamber of Commerce (ICC) award worth more than $7 million over payments for a hydroelectric dam project, arguing that the panel improperly affirmed despite evidence of corruption and the award’s order of specific performance that it says is “impossible.”