Industry: Banks
Burkina Faso risks claim over Libyan-owned bank
Libya has warned that an arm of its central bank may pursue arbitration against Burkina Faso over the nationalisation of their local banking joint venture.
11 June 2024
Withers rallies bondholders for Credit Suisse claim
Withers says it is preparing to launch investment treaty claims against Switzerland on behalf of investors across Asia and the Middle East affected by the write-down of Credit Suisse bonds.
23 May 2024
Russian court seizes assets of European banks
A Russian court has allowed a Gazprom joint venture to seize over €700 million in assets held by UniCredit, Deutsche Bank and Commerzbank – defying UK court rulings that the litigation should be heard in ICC arbitration.
20 May 2024
UK judge finds Russia sanctions don’t make LCIA clause inoperative
A London court has rejected arguments by a Russian state-owned bank that an LCIA arbitration clause in a derivatives agreement with the UK’s Barclays Bank has become inoperative because of international sanctions.
13 May 2024
Qatari bank wins billion-dollar award against South Sudan
An ICSID tribunal has ordered South Sudan and its central bank to pay over US$1 billion to repay civil war-era loans made by an affiliate of Qatar’s sovereign wealth fund.
10 May 2024
Barclays gets anti-suit injunction against Russian state-owned bank
The Commercial Court in London has restrained a Russian state-owned development bank from pursuing a US$155 million lawsuit in Moscow against the UK’s Barclays Bank, finding their derivatives dispute should be heard in LCIA arbitration.
08 May 2024
ICSID claimant seeks to revive Tunisian banking case
A former shareholder in one of Tunisia’s oldest banks has applied to partially annul an ICSID award that dismissed the bulk of its multibillion-dollar claim against the state.
01 May 2024
UK Supreme Court upholds injunction against Gazprom venture
The UK Supreme Court has dismissed a Gazprom joint venture’s challenge to an English anti-suit injunction that was granted to support a Paris-seated ICC arbitration agreement.
23 April 2024
Canadian Supreme Court affirms Greece committed fraud in ICC dispute
Canada’s Supreme Court has affirmed that a Canadian bank was justified in refusing to pay out on a letter of credit because the beneficiary was participating in a fraud by the Greek government to circumvent the orders of an ICC tribunal.
08 April 2024
Austrian bank withdraws claim against Slovenia
An Austrian bank has withdrawn its €110 million ICSID claim against Slovenia over a law that imposed a retroactive exchange-rate cap on loans denominated in Swiss francs, after a Slovenian court found the legislation was unconstitutional.
06 February 2024