Industry: Banks
UK appeal court reverses injunction against Gazprom venture
The Court of Appeal in London has granted UniCredit’s request to lift an anti-suit injunction it won against a Gazprom joint venture after the bank said it wanted to avoid an “eye-watering” fine from the Russian courts.
11 February 2025
Lebanese financial institutions held liable over investment advice
A split tribunal in Beirut has ordered two local financial institutions to pay damages to a Jordanian national after his investment in speculative Lebanese sovereign bonds collapsed when the state defaulted on payments and entered its 2019 financial crisis.
13 January 2025
More claims loom for Switzerland over Credit Suisse
Two more groups of investors affected by the rescue of Credit Suisse have formally notified Switzerland of potential investment treaty claims – seeking at least US$450 million in damages.
03 January 2025
Barclays halts Russian bank's LCIA claim
The Commercial Court in London has ruled that a Russian state-owned bank’s US$150 million claim against Barclays should be heard in the English courts rather than LCIA arbitration.
03 December 2024
Barclays challenges Russian bank’s LCIA claim
A UK court has agreed to consider Barclays’ challenge to the jurisdiction of a sole arbitrator hearing an LCIA claim worth US$150 million brought by a Russian state-owned development bank – a dispute the British bank says must be heard in the English courts.
26 November 2024
Businessman threatens claim against Bangladesh over “campaign of intimidation”
A prominent Bangladeshi businessman has threatened to bring an ICSID claim against Bangladesh after the new governor of its central bank accused him of helping to siphon off US$10 billion from the country’s banking sector.
20 November 2024
Russian state bank wins damages in fraud claim at LCIA
A subsidiary of Russia’s central bank is trying to enforce a US$565 million LCIA award against companies linked to the family of a Russian property tycoon – while a related fraud litigation in the UK has been adjourned.
06 November 2024
Swedish court affirms Russian state corporation can pursue BIT claim
A Swedish court has rejected Ukraine’s challenge to a jurisdictional award that found a Russian state development corporation qualifies as an “investor” under a bilateral investment treaty.
04 November 2024
ICDR award upheld in saga over Eurobond default
A New York court has upheld an ICDR award that ordered two Egyptian brothers to pay US$194 million after their companies defaulted on Eurobonds bought by international banks – nearly two decades after the arbitration was filed.
25 October 2024
Singapore appeal court upholds DIAC interim relief
The Singapore Court of Appeal has upheld the enforcement of interim measures issued by a DIAC tribunal under an arbitration clause specifying the now-defunct DIFC-LCIA, finding that the respondent had submitted to the tribunal’s jurisdiction for the purposes of the interim relief application.
23 October 2024