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.
Maxum Indemnity Co. does not need to cover a $40 million breach of contract action against an insured tunnel-boring machine maker over delays caused by a breakdown, an Ohio federal court ruled Thursday, finding that Maxum’s policy explicitly bars coverage for contract-related claims like this one.
Belize won its bid on Wednesday to reduce the post-judgment interest rate in a payment order issued by the Caribbean Court of Justice, which related to a confirmed arbitral award worth approximately $45.5 million issued to the Belize Bank Ltd. following a dispute over a complex debt guarantee.
Federal prosecutors in Switzerland on Thursday confirmed they’re investigating whether mining company Rio Tinto paid a former Mongolian finance minister millions in bribes in connection with the Oyu Tolgoi copper and gold mine, one of the world’s largest.
Carpatsky Petroleum Corp. on Wednesday urged a Texas federal court to dismiss a Ukrainian oil company's claims over a soured oil and gas development deal, arguing that arbitrators have already weighed the dispute, rejected the company's arguments and awarded it $147 million.
A trio of law firms have brought to a New York federal court a long-running breach of contract dispute with a New York electronics importer over more than $5.58 million in fees allegedly owed in connection with enforcing a $22 million arbitral award in China.