INTERNATIONAL ARBITRATION 1/3LY
NOTABLE C A SES
> I CC , 8 JULY 2014 : AN I CC TRIBUNAL HA S ORDERED EQUATORI AL GUINE A TO PAY USD 132 MILL ION PLUS INT EREST AND COST S TO ORANGE SUBS IDI ARY FRANCE C ABLES E T RADIO FOR BRE ACHING A SE T T LEMENT AGREEMENT WHI CH AROSE FROM AN E ARL IER I CC ARBI TRAT ION. THE SE T T LEMENT AGREEMENT GAVE FRANCE C ABLES E T RADIO A PUT OP T ION, BUT EQUATORI AL GUINE A REFUSED TO PAY THE PRI CE , PROMPT ING THE SECOND CL A IM. > S INGAPORE COURT OF APPE AL , 30 JULY 2014 : S INGAPORE ’ S COURT OF APPE AL HA S OVERTURNED A DECI S ION BY THE COUNTRY ’ S HIGH COURT WHI CH PART I ALLY ANNULLED AN AWARD BY S I AC , RESTAT ING THE PRINCIPLE OF “MINIMAL CURI AL INT ERVENT ION ” IN THE ARBI TRAL PROCESS . THE COURT WARNED AGA INST “ BACKDOOR APPE ALS ” , AND COUNSEL WHO MIGHT RE INVENT THE IR CL IENT S ’ C A SES WI TH THE GUI SE OF A CHALLENGE BA SED ON AN ALLEGED BRE ACH OF NATURAL JUST I CE . > I CC , 6 AUGUS T 2014 : AN I CC PANEL HA S FOUND AGA INST A BOL I V I AN STAT E ENT I T Y IN A DI SPUT E OVER AN IRON ORE PROJECT NE AR THE BRAZ IL I AN BORDER . THE CL A IMANT, J INDAL ST EEL & POWER FORMED A JOINT VENTURE WI TH THE RESPONDENT, EMPRES A S IDERURGI C A DEL MUTUN ( ESM) TO DE VELOP THE PROJECT IN 2007. THE PANEL FOUND THAT ESM FA ILED TO GRANT ACCESS TO THE L ANDS WHI CH WERE TO BE DE VELOPED AND THE AWARD PERMI T S J INDAL TO RECOVER USD 18 MILL ION IN BANK GUARANT EES PLUS INT EREST ILLEGALLY C A SHED IN 2010 . ME ANWHILE , J INDAL I S ALSO PURSUING A SECOND I CC CL A IM OVER THE S AME PROJECT, SEEK ING ALMOST USD 100 MILL ION IN DAMAGES UNDER THE CONTRACT. > COURT OF ARBI TRAT ION FOR SPORT, 14 AUGUS T 2014 : A COURT OF ARBI TRAT ION FOR SPORT HA S CONF IRMED THAT THE 9 -MATCH BAN FROM INT ERNAT IONAL FOOTBALL (UNT IL 2015) AND 4 -MONTH BAN FROM CLUB FOOTBALL FOR BI T ING DURING THI S YE AR ’ S FOOTBALL WORLD CUP WOULD STAND BUT WOULD APPLY TO “ OFF I CI AL MATCHES ”
ONLY. THE BAN WOULD NO LONGER APPLY TO “ OTHER FOOTBALL- REL AT ED ACT I V I T IES ( SUCH A S TRA INING, PROMOT IONAL ACT I V I T IES AND ADMINI STRAT I VE MAT T ERS ” ) . THE RUL ING ME ANS SUAREZ COULD MAKE HI S DEBUT FOR BAR CELONA IN A MATCH AGA INST RE AL MADRID ON 25 OCTOBER . > UNCI TRAL , 18 AUGUS T 2014 : AN UNCI TRAL PANEL HA S HELD UKRA INE L I ABLE UNDER I T S 1998 BIL AT ERAL INVESTMENT TRE AT Y WI TH RUSS I A AND ORDERED I T TO PAY USD 112 MILL ION TO A RUSS I AN OIL AND GA S COMPANY FOR THE FOR CIBLE TAKEOVER OF A REF INERY. THE DECI S ION C AME A S UKRA INE PREPARED S ANCT IONS OVER RUSS I AN SPONSORSHIP OF SEPARAT I ST S , AND REL AT ES TO A CL A IM WHI CH WA S ORIGINALLY F ILED IN 2008. > I CS ID, 25 AUGUS T 2014 : TURKMENI STAN HA S APPL IED TO ANNUL AN I CS ID AWARD RENDERED L A ST MONTH IN FAVOUR OF A GERMAN NAT IONAL . THE CENTRAL A S I AN STAT E F ILED I T S APPL I C AT ION ON 25 AUGUST, THREE WEEKS AF T ER THE TRIBUNAL’ S DECI S ION THAT THE STAT E BRE ACHED THE GERMANY- TURKMENI STAN BIL AT ERAL INVESTMENT TRE AT Y BY EXPROPRI AT ING CONTRACTUAL INT EREST IN RE VENUE FROM A POULTRY FARM. TURKMENI STAN I S ARGUING THAT THE TRIBUNAL HA S MANIFEST LY EXCEEDED I T S POWERS , DEPART ED FROM A FUNDAMENTAL RULE OF PROCEDURE AND FA ILED TO STAT E I T S RE A SONS . > NAF TA , 26 AUGUS T 2014 : C ANADA’ S L ARGEST PHARMACEUT I C AL COMPANY, APOT EX HA S LOST I T S CL A IM THAT THE US FOOD AND DRUG ADMINI STRAT ION ( FDA ) V IOL AT ED THE NORTH AMERI C AN FREE TRADE AGREEMENT (NAF TA ) IN BANNING IMPORT S FROM T WO OF APOT EX ’ S PL ANT S . THI S I S THE THIRD NAF TA CL A IM APOT EX HA S LOST, AND THE COMPANY S A ID I T HA S SUFFERED AT LE A ST USD 250 MILL ION IN LOST S ALES A S A RESULT OF THE FDA’ S MOST RECENT ACT IONS .
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