Topic: Settlements

UPDATED: Germany has agreed to pay €243 million to a European joint venture to settle a dispute at the German Arbitration Institute (DIS) over a cancelled contract for a car toll system, but a second arbitration reportedly continues.

06 July 2023

Burford Capital has withdrawn an LCIA arbitration that it used to prevent a US food distributor from settling a pair of antitrust lawsuits after the funder agreed a deal to take control of the litigation.

29 June 2023

Indian multinational Vedanta has settled a US$330 million ad hoc arbitration with Baker Hughes over an oilfield project that was disrupted by covid-19. 

28 June 2023

Repsol says it has agreed a deal with China’s Sinopec to settle a long-running SIAC arbitration worth US$5.5 billion over the sale of a North Sea oil and gas venture – following partial awards in which the Spanish company was found liable for fraud.

02 May 2023

A Bolivian politician’s company has ended its efforts to enforce a US$36 million award in the US courts despite pending annulment proceedings in Bolivia, after it reached a settlement with the Mexican award debtor.

17 March 2023

A split LCIA tribunal has granted Burford Capital a preliminary injunction to prevent a client from settling several antitrust lawsuits – finding prima facie that the funder was granted a “prior consent right” over settlements.

14 March 2023

An Abu Dhabi government-owned entity has agreed to pay US$1.8 billion to Malaysian sovereign wealth fund 1MDB to settle LCIA and London court proceedings relating to a multibillion-dollar fraud.

27 February 2023

A Korean shipbuilder has reportedly agreed to pay to settle a dispute with Japanese oil and gas producer Inpex that gave rise to a US$970 million ICC case.

17 February 2023

Egypt has settled an ICSID claim brought by a Dubai-owned pipe manufacturer over its right to bid for tenders related to a sewerage network for “New Cairo” – a US$30 billion project to relieve overcrowding in one of Africa’s largest cities.

29 November 2022

Guatemala has agreed to pay US$46 million to a US investor to settle a long-running dispute over electricity tariffs that went before four different ICSID panels. 

24 November 2022