Industry: Banks

A St Petersburg court has restrained a subsidiary of Russia’s VTB Bank from bringing an HKIAC arbitration against the state-controlled lender – which is pursuing litigation to recover €112 million in alleged debts. 

08 November 2023

Goldman Sachs has launched an LCIA claim against Malaysia after it accused the state of breaching a multibillion-dollar settlement over the US bank’s role in the 1MDB corruption scandal.

12 October 2023

A subsidiary of Russia’s Gazprom has been revealed as the target of a set of recent English anti-suit injunction requests by German banks seeking to enforce Paris-seated ICC arbitration clauses.

11 October 2023

The Court of Appeal in London has confirmed that the UK sanctions regime does not prevent courts from entering judgment in favour of sanctioned persons in civil litigation – meaning an US$850 million fraud suit brought by two Russian banks can proceed.

09 October 2023

Venezuela-based banking group Banesco has launched an ICSID claim against Panama after several state entities executed bonds that the bank says have expired.

11 September 2023

The Democratic Republic of the Congo is facing a new ICSID case from a Swiss banking group, as ICC claims by a Kazakh-owned mining group and a South African law firm also come to light.

29 August 2023

The Central Bank of Iran is preparing to file a treaty claim against South Korea after local banks froze US$7 billion of assets due to sanctions – as a Texas private equity group seeks to revive a multibillion-dollar claim against the east Asian state through ICSID annulment proceedings.

01 August 2023

Japanese investors have joined the growing number of Credit Suisse bondholders exploring investment treaty claims against Switzerland over an emergency deal to save the bank that rendered their bonds worthless.

18 May 2023

A Dutch salvage company is seeking US discovery from seven banks as it tries to enforce an ICC award worth US$107 million against an Iraqi state oil company.

27 March 2023

A US company and three other investors have threatened Latvia with a €512 million investment treaty claim after a Riga-based bank they invested in had its operations suspended following a money laundering investigation.

13 March 2023