INTERNATIONAL ARBITRATION 1/3LY
NOTABLE CASES
> ICC, 8 JULY 2014: AN ICC TRIBUNAL HAS ORDERED EQUATORIAL GUINEA TO PAY USD 132 MILLION PLUS INTEREST AND COSTS TO ORANGE SUBSIDIARY FRANCE CABLES ET RADIO FOR BREACHING A SETTLEMENT AGREEMENT WHICH AROSE FROM AN EARLIER ICC ARBITRATION. THE SETTLEMENT AGREEMENT GAVE FRANCE CABLES ET RADIO A PUT OPTION, BUT EQUATORIAL GUINEA REFUSED TO PAY THE PRICE, PROMPTING THE SECOND CLAIM. > SINGAPORE COURT OF APPEAL, 30 JULY 2014: SINGAPORE’S COURT OF APPEAL HAS OVERTURNED A DECISION BY THE COUNTRY’S HIGH COURT WHICH PARTIALLY ANNULLED AN AWARD BY SIAC, RESTATING THE PRINCIPLE OF “MINIMAL CURIAL INTERVENTION” IN THE ARBITRAL PROCESS. THE COURT WARNED AGAINST “BACKDOOR APPEALS”, AND COUNSEL WHO MIGHT REINVENT THEIR CLIENTS’ CASES WITH THE GUISE OF A CHALLENGE BASED ON AN ALLEGED BREACH OF NATURAL JUSTICE. > ICC, 6 AUGUST 2014: AN ICC PANEL HAS FOUND AGAINST A BOLIVIAN STATE ENTITY IN A DISPUTE OVER AN IRON ORE PROJECT NEAR THE BRAZILIAN BORDER. THE CLAIMANT, JINDAL STEEL & POWER FORMED A JOINT VENTURE WITH THE RESPONDENT, EMPRESA SIDERURGICA DEL MUTUN (ESM) TO DEVELOP THE PROJECT IN 2007. THE PANEL FOUND THAT ESM FAILED TO GRANT ACCESS TO THE LANDS WHICH WERE TO BE DEVELOPED AND THE AWARD PERMITS JINDAL TO RECOVER USD 18 MILLION IN BANK GUARANTEES PLUS INTEREST ILLEGALLY CASHED IN 2010. MEANWHILE, JINDAL IS ALSO PURSUING A SECOND ICC CLAIM OVER THE SAME PROJECT, SEEKING ALMOST USD 100 MILLION IN DAMAGES UNDER THE CONTRACT. > COURT OF ARBITRATION FOR SPORT, 14 AUGUST 2014: A COURT OF ARBITRATION FOR SPORT HAS CONFIRMED THAT THE 9-MATCH BAN FROM INTERNATIONAL FOOTBALL (UNTIL 2015) AND 4-MONTH BAN FROM CLUB FOOTBALL FOR BITING DURING THIS YEAR’S FOOTBALL WORLD CUP WOULD STAND BUT WOULD APPLY TO “OFFICIAL MATCHES”
ONLY. THE BAN WOULD NO LONGER APPLY TO “OTHER FOOTBALL-RELATED ACTIVITIES (SUCH AS TRAINING, PROMOTIONAL ACTIVITIES AND ADMINISTRATIVE MATTERS”). THE RULING MEANS SUAREZ COULD MAKE HIS DEBUT FOR BARCELONA IN A MATCH AGAINST REAL MADRID ON 25 OCTOBER. > U NCITRAL, 18 AUGUST 2014: AN UNCITRAL PANEL HAS HELD UKRAINE LIABLE UNDER ITS 1998 BILATERAL INVESTMENT TREATY WITH RUSSIA AND ORDERED IT TO PAY USD 112 MILLION TO A RUSSIAN OIL AND GAS COMPANY FOR THE FORCIBLE TAKEOVER OF A REFINERY. THE DECISION CAME AS UKRAINE PREPARED SANCTIONS OVER RUSSIAN SPONSORSHIP OF SEPARATISTS, AND RELATES TO A CLAIM WHICH WAS ORIGINALLY FILED IN 2008. > ICSID, 25 AUGUST 2014: TURKMENISTAN HAS APPLIED TO ANNUL AN ICSID AWARD RENDERED LAST MONTH IN FAVOUR OF A GERMAN NATIONAL. THE CENTRAL ASIAN STATE FILED ITS APPLICATION ON 25 AUGUST, THREE WEEKS AFTER THE TRIBUNAL’S DECISION THAT THE STATE BREACHED THE GERMANY- TURKMENISTAN BILATERAL INVESTMENT TREATY BY EXPROPRIATING CONTRACTUAL INTEREST IN REVENUE FROM A POULTRY FARM. TURKMENISTAN IS ARGUING THAT THE TRIBUNAL HAS MANIFESTLY EXCEEDED ITS POWERS, DEPARTED FROM A FUNDAMENTAL RULE OF PROCEDURE AND FAILED TO STATE ITS REASONS. > N AFTA, 26 AUGUST 2014: CANADA’S LARGEST PHARMACEUTICAL COMPANY, APOTEX HAS LOST ITS CLAIM THAT THE US FOOD AND DRUG ADMINISTRATION (FDA) VIOLATED THE NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) IN BANNING IMPORTS FROM TWO OF APOTEX’S PLANTS. THIS IS THE THIRD NAFTA CLAIM APOTEX HAS LOST, AND THE COMPANY SAID IT HAS SUFFERED AT LEAST USD 250 MILLION IN LOST SALES AS A RESULT OF THE FDA’S MOST RECENT ACTIONS.
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