Organisation: Gramercy
US fund confirms size of payout from Peru in land bond case
US private equity firm Gramercy has confirmed it has reached an US$85 million settlement with Peru to satisfy an ICSID award relating to bonds issued half a century ago in compensation for land expropriations.
16 December 2024
Peru settles land bond dispute with hedge fund
Peru has agreed to pay US hedge fund Gramercy to settle an investment treaty award over bonds issued half a century ago in compensation for land expropriations.
13 November 2024
Ukrainian egg tycoon fails to move racketeering suit to arbitration
A Ukrainian businessman in the egg industry has failed to persuade a US court that a US$800 million racketeering lawsuit brought against him by US investment fund manager Gramercy belongs in LCIA arbitration.
29 August 2024
Ukrainian businessman seeks to refer RICO case to arbitration
An embattled Ukrainian businessman has again asked a US court to stay a US investment manager’s racketeering case and refer their dispute over egg production businesses to LCIA arbitration.
19 July 2024
Withers hires from Debevoise in New York
Floriane Lavaud, who has represented Qatar in a number of public international law disputes, has left Debevoise & Plimpton to join the partnership at Withers in New York.
16 April 2024
US hedge fund seeks to enforce against Peru
A Delaware-registered hedge fund has asked a US court to enforce a US$100 million ICSID award against Peru, after a divided tribunal found the state liable in a dispute over land bonds.
16 March 2023
Published Peru award reveals caustic Stern dissent
The ICSID award ordering Peru to pay US$100 million to a US hedge fund in a land bond dispute has been published, revealing a dissenting opinion from Brigitte Stern that described the majority’s decision as “utterly wrong both in law and in justice”.
19 January 2023
Peru ordered to pay in land bonds dispute
A divided ICSID tribunal has ordered Peru to pay US$100 million to a US hedge fund in a dispute over land bonds issued half a century ago by its former left-wing military dictatorship in exchange for expropriated farmland.
14 December 2022
Venezuela defeats dual national’s billion-dollar claim
A dual national backed by a third-party funder has seen his billion-dollar treaty claim against Venezuela thrown out based on his “dominant and effective” nationality.
01 February 2022
Pollution claim against Peru clears hurdle
Peru has failed to knock out an investment treaty claim brought by a US company over environmental pollution in the Andes, after a divided tribunal concluded that the case was not time-barred.
23 July 2020