Industry: Financial services
Privy Council upends English law on insolvency and arbitration
The Privy Council in London has upended a decade of settled English law on the interplay between insolvency and arbitration, endorsing the approach of the British Virgin Islands that winding-up proceedings should not be stayed in favour of arbitration where the dispute is insubstantial.
20 June 2024
UK appeal court rejects consumer law challenge to Hong Kong award
The Court of Appeal in London has upheld enforcement of a Hong Kong arbitration award that found a Chinese businessman’s widow liable under a personal guarantee, rejecting arguments she was shielded by UK consumer law.
11 June 2024
Panama defeats claim by financial services investor
Panama says it has defeated an ICSID claim worth more than US$60 million brought by a Dutch businessman whose brokerage firm was liquidated by a regulator following an investigation of its practices.
06 June 2024
Hedge fund seeks to enforce against South Korea
US hedge fund Mason Capital has asked a court in Washington, DC, to enforce a US$32 million investment treaty award against South Korea arising from the state’s interference in an US$8 billion Samsung merger.
29 May 2024
Withers rallies bondholders for Credit Suisse claim
Withers says it is preparing to launch investment treaty claims against Switzerland on behalf of investors across Asia and the Middle East affected by the write-down of Credit Suisse bonds.
23 May 2024
Sanctioned Russian billionaire threatens claim against Luxembourg
Russian-Israeli businessman Mikhail Fridman has threatened Luxembourg with an investment treaty claim over the country’s decision to freeze US$15.8 billion of his assets after he was placed on the EU’s sanctions list.
21 May 2024
Barclays gets anti-suit injunction against Russian state-owned bank
The Commercial Court in London has restrained a Russian state-owned development bank from pursuing a US$155 million lawsuit in Moscow against the UK’s Barclays Bank, finding their derivatives dispute should be heard in LCIA arbitration.
08 May 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
Introduction
Featured in The Guide to Investment Treaty Protection and Enforcement - Second Edition
21 December 2023