Industry: Banks

A Russian court has ordered Deutsche Bank to discontinue an ICC claim against a Gazprom venture over stalled work on a gas processing plant, despite the UK Supreme Court ruling that the dispute belonged in arbitration.

22 October 2024

The Hong Kong Court of First Instance has restrained a Russian state-owned bank from pursuing litigation in St Petersburg against its German subsidiary in defiance of an HKIAC arbitration clause. 

15 October 2024

The French Court of Cassation has refused to reopen an ICC award that dismissed a US$1.4 billion investment treaty claim brought against Cyprus by the Lebanese former owners of a bank shut down by state authorities.

14 October 2024

The main shareholders of Austrian engineering group Strabag have filed for arbitration in Amsterdam against a sanctioned minority investor previously linked to Russian oligarch Oleg Deripaska. 

10 October 2024

In the first case before the DIFC Courts to consider the abolition of the DIFC-LCIA Arbitration Centre, a judge has continued an injunction restraining litigation filed in Sharjah in breach of an agreement to arbitrate at the defunct institution. Lawyers at Stephenson Harwood in Dubai, who acted for the successful claimant, report.

08 October 2024

A Dutch lender has threatened to bring a treaty claim against Ukraine over the nationalisation of one of the country’s biggest banks – as an ICSID claim brought by the bank’s sanctioned Russian former owners gets underway. 

03 October 2024

An ICSID tribunal has upheld its jurisdiction to hear a claim against Malta brought by the owner of a bank that was shut down amid allegations of corruption. 

01 October 2024

A panel at GAR Live North America discussed the increasing use of arbitration in the financial sector, including its suitability as a mechanism for resolving cryptocurrency and blockchain disputes. 

26 September 2024

A US judge has stayed a Ukrainian state-owned bank’s action to enforce a US$1.1 billion investment treaty award against Russia – after expressing concern about the case’s political implications.

19 September 2024

Kuwaiti logistics group Agility says it has won an ICC award worth over US$1.17 billion in another arbitration against Iraqi mobile operator Korek Telecom.

16 September 2024