Industry: Financial services banks
Barclays halts Russian bank's LCIA claim
The Commercial Court in London has ruled that a Russian state-owned bank’s US$150 million claim against Barclays should be heard in the English courts rather than LCIA arbitration.
03 December 2024
Barclays challenges Russian bank’s LCIA claim
A UK court has agreed to consider Barclays’ challenge to the jurisdiction of a sole arbitrator hearing an LCIA claim worth US$150 million brought by a Russian state-owned development bank – a dispute the British bank says must be heard in the English courts.
26 November 2024
Russian state bank wins damages in fraud claim at LCIA
A subsidiary of Russia’s central bank is trying to enforce a US$565 million LCIA award against companies linked to the family of a Russian property tycoon – while a related fraud litigation in the UK has been adjourned.
06 November 2024
Swedish court affirms Russian state corporation can pursue BIT claim
A Swedish court has rejected Ukraine’s challenge to a jurisdictional award that found a Russian state development corporation qualifies as an “investor” under a bilateral investment treaty.
04 November 2024
ICDR award upheld in saga over Eurobond default
A New York court has upheld an ICDR award that ordered two Egyptian brothers to pay US$194 million after their companies defaulted on Eurobonds bought by international banks – nearly two decades after the arbitration was filed.
25 October 2024
Singapore appeal court upholds DIAC interim relief
The Singapore Court of Appeal has upheld the enforcement of interim measures issued by a DIAC tribunal under an arbitration clause specifying the now-defunct DIFC-LCIA, finding that the respondent had submitted to the tribunal’s jurisdiction for the purposes of the interim relief application.
23 October 2024
Russian court injuncts Deutsche Bank’s ICC claim against Gazprom venture
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
DIFC Courts address abolition of DIFC-LCIA
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
Another billion-dollar win for Agility against Iraqi mobile operator
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
UK Supreme Court upholds injunction against Gazprom venture
The UK Supreme Court has dismissed a Gazprom joint venture’s challenge to an English anti-suit injunction that was granted to support a Paris-seated ICC arbitration agreement.
23 April 2024