Organisation: US Department of the Treasury
Hungary’s MOL seeks to enforce against Croatia
A Hungarian oil and gas group that won a US$237 million ICSID award against Croatia after defeating the state’s bribery defence has moved to enforce it in a US court, putting the award in the public domain.
26 January 2023
Croatia liable at ICSID after failing to prove bribery
An ICSID tribunal has ordered Croatia to pay US$184 million plus interest to Hungarian oil and gas group MOL after rejecting allegations that the claimant’s CEO paid bribes to a former prime minister – while dismissing the rest of the investor's billion-dollar claim.
06 July 2022
Prominent Honduran family pursues billion-dollar ICSID claim
Honduras is facing a billion-dollar ICSID claim for allegedly expropriating the assets of a prominent local family of politicians whom US authorities have accused of laundering money derived from narcotics trafficking.
31 October 2018
GAR Live London Lookback: Sanctions – a triangular look
Consider the following, not-impossible scenario. An arbitration in Switzerland, with UK and Iranian parties. The arbitrators are from France, Belgium and India. Do any sanctions apply? Would your answer change if one of the arbitrators were from the US? Such questions were discussed at last year’s GAR Live London, guided by Hans van Houtte, then president of the Iran-United States Claims Tribunal.
23 April 2018