ICSID, 26 July 2018, Georg Gavrilović and Gavrilović D.O.O. v. Croatia, ICSID Case No. ARB/12/39, Award

On 26 July 2018, an ICSID arbitral tribunal issued an award in favour of Austrian investors, Georg Gavrilović and Gavrilović D.O.O., claimant in a dispute with the Republic of Croatia (“Respondent”). The dispute arose out of the State’s refusal, when the Croatian War of Independence ended, to recognize a purchase of the family enterprise by [...]

2018-09-08T21:02:54+00:00 July 26th, 2018|ICSID, International awards|0 Comments

Paris Court of Appeal, 22 May 2018, Spouses Z v. ITM Sud Ouest, no. 16/24803

A trade-name license agreement for the operation of a store was concluded between ITM and Joriane, a company controlled and managed by the Spouses Z. In 2002, ITM undertook to buy (“promesse unilatérale d’achat”) the shares of Joriane company over a period of 10 years, this unilateral commitment included an arbitration clause. A decision in [...]

Paris Court of Appeal, 27 March 2018, RIVERSTONE v. M. B… FELDMAN and KRAMER LEVIN NAFTALIS & FRANKEL LLP lawfirm, no. 15/10183

Two companies, CTR (absorbed by Riverstone) and ICD concluded several reinsurance treaties including arbitration clauses. ICD company has been wound up and the liquidator pursued arbitration proceedings against Riverstone and other reinsurers. The arbitral tribunal ordered Riverstone to pay a sum of money to ICD and found that as Riverstone did not report its debt [...]

Nîmes Court of Appeal, 11 January 2018, Buis Papeterie Presse v. AJC Comble, no. 16/04503

The fact that a company is in liquidation cannot make the arbitration convention inapplicable especially that at the date of the subpoena, that company was not insolvent. Moreover, no detail is given regarding arbitration costs and nothing specifies that they will be higher than the cost of the current proceeding.

2018-02-18T20:09:12+00:00 January 11th, 2018|Court of Appeal, Nimes Court of Appeal|0 Comments

US Supreme Court, 11 December 2017, AMCI Holdings, et al. v. CBF Industria de Gusa, et al., 17-481

US Supreme Court denied certiorari to contest enforcement of an ICC award. The award was rendered against a Swiss company who was declared bankrupt before the arbitration had ended. The Brazilian plaintiffs sought to enforce the award against the US “alter ego” companies of the Swiss company, claiming fraud. In particular, it was argued that [...]

2018-01-15T00:06:10+00:00 December 11th, 2017|US jurisdictions, US Supreme Court|0 Comments

ICSID, 21 November 2017, Dan Cake (Portugal) SA v. Hungary, no. ARB/12/9

The Tribunal confirmed the denial of justice leading to the loss of investment operated by a Budapest court. In 1996 Dan Cake acquired the shares of a Hungarian Danesita in order to develop commercial activities in Eastern European countries. In 2006, the Metropolitan Court of Budapest, sitting as a bankruptcy court, served Danesita a copy [...]

2018-01-14T22:50:19+00:00 November 21st, 2017|ICSID, International awards|0 Comments

Paris Court of Appeal, 12 September 2017, Republic of the Congo v. Commisimpex, no. 15/24881

A supervisory judge of Commisimpex’s insolvency proceeding established a legal compensation between a tax claim owed by Commisimpex and Congo’s debts (as a result of a 2013 arbitral award). The Republic of Congo summoned Commisimpex to enforce the order. In 2015, the judge dismissed the claim and stated that the order was unenforceable on French [...]

2018-01-14T19:08:02+00:00 September 12th, 2017|Court of Appeal, Paris Court of Appeal|0 Comments

ICSID, 18 August 2017, Eurogas Inc. (US) and Belmont Resources Inc. (Canada) v. Slovak Republic, no. ARB/14/14

In 1998, exclusive rights for mining activities at the Gemerska Poloma deposit in Slovakia were awarded to Rozmin, a Slovak Republic-incorporated company in which Eurogas (US), and Belmont Resources (Canada), hold a 90% shareholding interest. In early 2005, the Slovak Republic unexpectedly revoked Rozmin’s mining rights without warning, justification or compensation. The request for arbitration [...]

2018-01-14T19:18:11+00:00 August 18th, 2017|ICSID, International awards|0 Comments

ICSID, 15 July 2017, Teinver S.A., Transportes de Cercanías S.A. and Autobuses Urbanos del Sur S.A. (Spain) v. the Argentine Republic, no. ARB/09/1 (dispatched to the Parties on 21 July)

The ICSID Tribunal ordered Argentina to pay more than 320 million dollars to the Claimants, members of the Spanish travel group Marsans, represented by King & Spalding, for the breach of fair and equitable treatment (“FET”) and unlawful expropriation of their investment in two Argentinian airlines. Respondent’s appointed arbitrator submitted a dissenting opinion stating that [...]

2018-01-14T19:24:34+00:00 July 15th, 2017|ICSID, International awards|0 Comments