ICC, 25 May 2018, Olin Holdings Ltd v. Libya, no. 20355/MCP, Final award

On 25 May 2018, an ICC arbitral tribunal with its seat in Paris issued a final award in favour of a Cypriot investor, Olin Holdings Ltd, against Libya. The dispute arose from the State’s measures directed at the factory owned by the investor. Specifically, in the 1990s, Libya adopted new legislation on foreign investments, seeking [...]

2018-07-02T16:00:27+00:00 May 25th, 2018|ICC, International awards|0 Comments

ICC, 24 April 2018, Phillips Petroleum Company Venezuela Limited, Conocophillips Petrozuata B.V. v. Petroleos De Venezuela, S.A., Corpoguanipa, S.A., PDVSA Petroleo, S.A., no. 20549/ASM/JPA (C-20550/ASM), Final award

On 24 April 2018, the ICC arbitral tribunal seated in New-York issued a final award in the case between two Claimants, Phillips Petroleum Company Venezuela Limited, Conocophillips Petrozuata B.V. and the three Respondents, namely Petroleos De Venezuela, S.A., Corpoguanipa, S.A., PDVSA Petroleo. The dispute arose 11 years ago following a change of the Venezuela’s policy [...]

2018-06-27T21:18:41+00:00 April 24th, 2018|ICC, International awards|0 Comments

ICC, January 2018, National Lybian Oil Corporation v. Libyan Emirati Refining Company

The National Lybian Oil Corporation announced its victory in two ICC arbitrations with a value of at least US$ 1.4 billion. The first case against the Libyan Emirati Refining Company started in 2013, involving allegations of breaches of a crude oil supply agreement following the revolution that led to Kaddafi’s impeachment and claims relating to [...]

2018-02-18T20:56:56+00:00 January 31st, 2018|ICC, International awards|0 Comments

ICC, December 2017, Pressen Elecktra GmBH & E.On SE v. Electrabel, no. 20659/GFG

In 2010, both the German and Belgian governments introduced reforms aimed at taxing fuels used for nuclear reactors. Following a dispute, Engie Electrabel initiated arbitration proceedings against his German partner PreussenElektra – (an E.ON’s subsidiary) to define the amount of German and Belgian nuclear taxes to be passed on to each other. After a decision [...]

2018-01-20T21:00:58+00:00 December 31st, 2017|ICC, International awards|0 Comments

ICC, 29 November 2017, Blackberry v. Nokia

An ICC award issued on 29 November 2017 has ordered the famous Canadian operator Blackberry, to pay US$137 million to Finnish operator Nokia, after the failure of payments under a patent licensing agreement. Starting in April of 2017, the arbitration was marked by Blackberry’s acceptance of the terms of decision of the arbitral tribunal, which [...]

2018-01-20T20:49:14+00:00 November 29th, 2017|ICC, International awards|0 Comments

ICC, 8 November 2017, PV Cystalox GmbH v. Neo Solar Power Corp

An ICC Tribunal awarded around EUR 34 million to the claimant for breach by the respondent of its purchase obligations under a long-term agreement. The respondent is said to have stopped buying wafers from the claimant because of the drastic change in the prices for their raw material. Therefore, the Tribunal significantly cut the initial [...]

2018-01-14T22:46:55+00:00 November 8th, 2017|ICC, International awards|0 Comments

ICC, 25 October 2017, Dassault, Thales and Safran v. Taiwan

In 1992, the French Groups Dassault, Thales and Safran signed a contract with Taiwan for the purchase of Mirage fighter jets amounting to EUR 4,6 billion. During its execution, the French Groups have paid several commissions despite the fact that it was forbidden by the contract. The Taiwanese State has then initiated an ICC arbitration [...]

2018-01-14T22:43:48+00:00 October 25th, 2017|ICC, International awards|0 Comments

ICC, September 2017, Nokia v. LG Electronics

According to a press release from Nokia, an ICC arbitral tribunal has issued an award in arbitration proceeding between Nokia and LG. LG previously took a royalty-bearing smartphone patent license from Nokia. The companies decided to bring the issue of payment obligations before the arbitral tribunal. The content of the award is confidential but Nokia [...]

2018-01-14T18:46:43+00:00 September 30th, 2017|ICC, International awards|0 Comments