Region: Iran, Islamic Republic of

On the heels of an unsuccessful challenge to the whole tribunal, the National Iranian Oil Company is seeking to disqualify Laurent Aynès from continuing as tribunal president in a US$32 billion dispute with the UAE’s Crescent Petroleum because of his alleged ongoing failure to disclose his and his firm’s involvement in similar proceedings.

03 March 2023

The National Iranian Oil Company has failed to disqualify three arbitrators from a US$32 billion case over their refusal to reschedule a hearing despite the unavailability of the state entity’s senior lead counsel.

31 January 2023

An Iranian businessman’s investment treaty claim against Azerbaijan has got underway at the Permanent Court of Arbitration in The Hague.

05 January 2023

Iran’s national oil company has failed to halt enforcement of a US$2.4 billion award in Rotterdam despite its last-minute entreaty to Dutch prosecutors to investigate the Emirati award creditor for alleged corruption. 

13 December 2022

A London court has refused to allow Iran’s national oil company to appeal a US$2.4 billion award on a point of law while rejecting arguments the state entity had waived its right to bring such an appeal.

12 July 2022

The UAE’s Crescent Petroleum has asked a US court to enforce a US$2.4 billion award against Iran’s national oil company, shedding light on a fraught 13-year arbitration that saw three arbitrators resign and a tribunal chair disqualified.

17 May 2022

The UK government has paid a nearly £400 million arbitral debt to Iran as two British nationals are allowed to return home after years of detention in Tehran.

16 March 2022

Bahrain has been ordered to pay over €200 million damages plus costs to two Iranian state-owned banks for the unlawful expropriation of their banking venture in Manama in an act of "political retribution" in the wake of the 2015 Iran nuclear deal – but the state says a set-off means the financial value of the award could be eroded to nothing.

22 November 2021

A Kuwaiti company’s efforts to collect on a billion-dollar award against Libya may have been dealt a blow after the European Court of Justice ruled that EU law precludes the attachment of assets that have been frozen as a result of international sanctions.

11 November 2021

The Central Bank of Iran has threatened South Korea with a US$7 billion investment treaty claim over the freezing of Iranian assets in its banks.

04 November 2021