Organisation: Clara
McDermott completes write-off of billion-dollar award
Houston-based engineering multinational McDermott has completed a cross-border restructuring process that has cancelled a US$1.3 billion ICC award debt in exchange for an equity stake in the group.
27 March 2024
US healthcare group wins damages in Indian M&A dispute
A US digital health services provider has won an ICC award worth over US$110 million against the sellers of an Indian healthcare business over their refusal to relinquish control of the company after the sale.
26 March 2024
Mexico and Hungary hit with new ICSID claims
A Saudi-owned Spanish renewables investor has filed a BIT claim against Mexico, while Hungary is facing an Energy Charter Treaty claim brought by a Cypriot entity linked to a defunct Austrian bank.
14 March 2024
Billion-dollar award debt written off in UK restructuring
A UK court has approved a restructuring plan for a subsidiary of Houston-based construction group McDermott that will effectively extinguish a US$1.3 billion ICC award debt owed to a Colombian state-owned entity.
28 February 2024
Uruguay liable in airline dispute
AWARD NOW PUBLIC: A private equity-backed Panamanian entity has won US$56.5 million in its ICSID claim against Uruguay over the collapse of the country’s flag carrier airline – while the state says it knocked out 94% of damages sought.
14 February 2024
Hisense loses challenge to ICC award
Chinese consumer electronics group Hisense has lost its French court challenge to an ICC award requiring it to pay US$27 million to its former Egyptian distributor.
28 November 2023
Bangladeshi state entities fail to annul ICSID award
An ICSID committee has upheld a US$43 million award against two Bangladeshi state-owned entities over gas deliveries, finding “no self-evident error” in the tribunal’s conclusion that it had jurisdiction despite the claimant’s Canadian parent company pleading guilty to bribing a minister.
13 October 2023
Spanish dairy investors pursue claim against Venezuela
Three Spanish investors are pursuing a treaty claim against Venezuela over their investment in a dairy venture, it has emerged.
13 June 2023
Scherer award upheld in Djibouti port dispute
A Djibouti state-owned entity has failed to overturn a liability award issued by Maxi Scherer as sole arbitrator in an LCIA dispute with Emirati logistics group DP World over a port facility on the Red Sea.
26 May 2023
Dechamps promotes counsel in Buenos Aires
UK-Argentine boutique Dechamps International Law has promoted Pablo Jaroslavsky to counsel in Buenos Aires.
14 May 2023