International Arbitration Law360 provides breaking news and analysis on international arbitration law. Coverage includes international arbitration proceedings, policy developments that affect international arbitration, and legal challenges to arbitration rulings.
Sanum Investments Ltd. continues to try and enforce a $200 million award issued by a Singapore tribunal against Laotian companies accused of pushing it out of a casino venture, with a New York state lawsuit Thursday arguing the win must be confirmed.
Citigroup has told a New York federal court it will drop its bid to recover more than $9.4 million in attorneys' fees and costs incurred during litigation to confirm a 2016 arbitration award, which rejected a claim brought by Abu Dhabi's massive sovereign wealth fund over money lost in a $7.5 billion investment deal soured by the financial crisis.
A Hong Kong company on Thursday asked a Texas federal judge to enforce its $1.5 million arbitration award against a buyer that denies its validity because while the sales contract for the shipment of a rubber-production chemical had an arbitration clause, emails changing the terms did not.
The Government of Ontario has enacted legislation to adopt a new international arbitration law, including explicit recognition of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
The Hague-based Permanent Court of Arbitration has seen steady growth in its caseload, administering 148 cases in 2016, up from 138 cases administered in 2015, as it continues an education and outreach program aimed at engaging the arbitral community.