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Mauritius Fends Off $1B Insurance, Banking Assets Claim

Law360 (April 10, 2018, 6:18 PM EDT) -- Mauritius has beaten a $1 billion treaty claim lodged by an investor who said the small island nation improperly seized and transferred his holdings in several insurance and banking companies to state-owned companies, after an arbitral tribunal determined that it lacked jurisdiction.

The Permanent Court of Arbitration tribunal, composed of presiding arbitrator Lucy Reed, Jean-Christophe Honlet and Vaughan Lowe QC, concluded in an April 6 award that it had to dismiss the claim because the investor, Dawood Ajum Rawat, was a dual national of Mauritius and...
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