WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) tribunal on March 12 declined a group of Canadian and Cypriot investors’ request to order the Republic of Serbia to halt a criminal investigation into one of their witnesses in an arbitration over the alleged expropriation of their investment in a Serbian dairy farm, writing that the requested measures are neither “necessary nor urgent” and denying most of their post-briefing evidentiary requests.
WILMINGTON, Del. — A Delaware federal judge on March 16 orally denied a motion by the Bolivarian Republic of Venezuela, its state-owned oil company Petróleos de Venezuela S.A. (PDVSA) and their U.S. subsidiaries to stay a sale of Venezuelan oil shares to satisfy a $1.4 billion judgment in favor of a Canadian gold producer while the Venezuelan entities’ appeal to the Third Circuit U.S. Court of Appeals is pending.
NEW ORLEANS — The alleged heirs of a Saudi sheikh write in a March 15 appellant brief to the Fifth Circuit U.S. Court of Appeals that a district court reversibly erred by denying their petition to enforce an arbitral award worth approximately $18 billion against a Saudi oil company for the use of Saudi oil fields under a 1933 concession agreement and also say the court abused its discretion by striking their motion for reconsideration
WASHINGTON, D.C. — A federal judge in the District of Columbia on March 16 dismissed an action to confirm a $2 billion arbitral award against the Arab Republic of Egypt with prejudice after the parties submitted a joint stipulation indicating that all claims had been resolved under a settlement agreement.
CHICAGO — An Illinois federal judge on March 12 confirmed a $54 million arbitral award in favor of a Chicago-based law firm and against a Japanese businessman who retained the firm for litigation in Nevada but refused to pay a contractually obligated $50 million contingency fee after the litigation was settled four months later.
BOSTON — New Balance Athletics Inc. on March 8 moved to dismiss a petition filed by an Ecuadorian entrepreneur and his Peruvian business to vacate an approximately $3.3 million arbitration award in New Balance’s favor for breaches of a distribution contract and cross-moved to confirm the award, arguing that the plaintiffs’ petition is time-barred and that the court should defer to the arbitrator’s findings.
HOUSTON — A Texas federal judge on March 11 issued a one-page order denying a Texas company’s motion for reconsideration of his earlier ruling dismissing its action to confirm a $70 million arbitral award against a Russian oil company as outside the court’s jurisdiction due to the Russian company’s lack of sufficient minimum contacts in Texas.
NEW YORK — A New York federal magistrate judge on March 12 quashed subpoenas issued to Google LLC for a United Arab Emirates joint stock company’s online records to aid in the enforcement of an arbitral award worth more than $51 million because the subpoenas were issued by a nonparty entity before its substitution as plaintiff in the litigation.
CHARLOTTE, N.C. — A North Carolina federal judge on March 4 adopted a magistrate judge’s recommendation to deny a motion to dismiss a petition to confirm an arbitration award brought by a North Carolina business after finding that the defendants had actual notice of the action and consented to service by mail under the American Arbitration Association’s (AAA) Commercial Arbitration Rules.
NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on March 10 affirmed a district court’s confirmation of an arbitral award against the Ministry of Defense of the Republic of Venezuela and the court’s 2010 order compelling arbitration outside Venezuela because then-President Hugo Chávez’s influence made arbitration in the country “impracticable” in a way that was “unforeseeable” when a U.S.-based defense contractor entered the underlying contract.
WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) tribunal in an award published March 9 ordered the Kingdom of Spain to pay more than 30 million euros with interest to two hydro and wind energy investors for damages caused when it reduced incentive tariffs for renewable energy sectors, with one arbitrator writing in a separate opinion that more damages should have been awarded.
SEATTLE — The liquidator of an Indian satellite broadband company, who was appointed by an Indian court and fired the company’s legal team after they won confirmation in a Washington federal court of an award worth approximately $1.29 billion against an Indian state-owned corporation, says in a March 5 brief that under Indian law he, not a group of Mauritian shareholders, should be allowed to intervene in court on the company’s behalf.
MIAMI — On limited remand from the 11th Circuit U.S. Court of Appeals, a Florida federal magistrate judge on March 1 recommended granting a motion to enter an amended judgment for $27.3 million against a Chilean investor and denying the investor’s request to reduce the judgment by 25 percent to account for the settlement of claims against other shareholders as outside the scope of the 11th Circuit’s mandate.
THE HAGUE, Netherlands — A Permanent Court of Arbitration (PCA) tribunal on Feb. 5 rejected the majority of claims brought by a Barbadian investor based in the United States that alleged its oil investment was expropriated by the Bolivarian Republic of Venezuela, finding that only the investor’s claim for nonpayment of two years’ dividends was attributable to Venezuela.
BOSTON — An Ecuadorian entrepreneur and his Peruvian business argue in a Feb. 22 amended petition and motion to vacate an approximately $3.3 million arbitration award against them that the arbitrator improperly exercised jurisdiction over them as nonsignatories to the underlying distribution agreement with New Balance Athletics Inc.
WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) tribunal on Feb. 26 rejected a Dutch investor’s claims that the Italian Republic unfairly harmed its investments in solar power by rescinding incentive tariffs after finding that Italy’s changes to the applicable legal framework were not “fundamental or radical” and were caused by legitimate economic challenges.
NEW YORK — A New York federal judge on Feb. 26 entered judgment confirming a $2.4 million award in favor of a Chinese generator company for generators unsold by a California-based distributor, finding that after a previous court-ordered remand, the arbitrator issued a final amended award that stated his reasons for rejecting the distributors’ counterclaims as was required by the parties’ agreement.
WASHINGTON, D.C. — A District of Columbia federal magistrate judge on Feb. 22 denied the Bolivarian Republic of Venezuela’s objections to an earlier ruling denying Venezuela’s motion to dismiss an action by two U.S. companies to enforce arbitral awards worth more than $305 million, writing that magistrate jurisdiction is proper in the case and Venezuela’s attempt to appeal the ruling to a district court judge “does not comport with the reality of this case.”
WASHINGTON, D.C. — The U.S. Supreme Court on Feb. 22 declined to review a Fifth Circuit U.S. Court of Appeals ruling affirming the confirmation of an award valued at approximately $622 million that was challenged by three petroleum companies that contended that the Fifth Circuit misapplied the Panama Convention’s public policy defense when it deferred to a tribunal’s findings giving effect to a contract procured through bribery.
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