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Freshfields Bruckhaus Deringer LLP is a global law firm. Its clients, many of the world’s biggest and most significant international organisations…
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Freshfields Bruckhaus Deringer | France | 16 Sep 2021

Paris Court of Appeal reaffirms "red flags" approach to corruption allegations in set aside proceedings

In two recent cases the Court of Appeal reaffirmed its previous decisions that an award should be set aside when there are serious, specific and consistent indicators that it enforces a contract tainted by corruption. In each of these decisions, the Court applied what appears to be a consistent standard of review, but reached opposite conclusions. The Court's reasoning in these cases provides......
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Freshfields Bruckhaus Deringer | Netherlands | 15 Jul 2021

Supreme Court clarifies when suspicion of fraud in proceedings is sufficiently concrete to start clock on revocation proceedings

Fraud in Dutch proceedings is a ground to challenge an arbitral award, even after the period for setting aside has lapsed. Under Dutch law, such a challenge should be lodged within three months of the ground for the challenge arising. However, what does that mean when the challenge is based on alleged fraud in the proceedings? Does a suspicion of fraud start the clock, or can the challenger......
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Freshfields Bruckhaus Deringer | France | 27 May 2021

Court annuls billion-dollar award, finding Crimea investment was made before BIT applied

The Paris Court of Appeal has set aside an award against Russia for the expropriation of the Crimean branch of Ukrainian state-owned bank Oschadbank. The court held that the bank had made its investment in Crimea before the Ukraine-Russia Bilateral Investment Treaty's 1992 time limit and that, as such, the tribunal lacked temporal jurisdiction. As Oschadbank intends to appeal, the Court of......
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Freshfields Bruckhaus Deringer | European Union, Netherlands, Russia | 20 May 2021

End of Yukos saga may be in sight – ultimate attempts to set aside $57 billion awards are likely to fail

The annulment proceedings in the Yukos case, initiated by Russia with the aim of setting aside the largest arbitral awards in history, may finally be coming to an end after 16 years. It seems that an interim decision by the Supreme Court and the opinion of the advocate general may have given away which party is likely to prevail in this long-running saga.
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Freshfields Bruckhaus Deringer | France | 6 May 2021

Court of Cassation finds that a BIT's limitation period relates to admissibility, not jurisdiction

France's top court has reinstated an arbitration award rendered in investment treaty proceedings between a Canadian gold miner and Venezuela. The Court of Cassation accepted the argument that the limitation period for bringing a claim under the Canada-Venezuela Bilateral Investment Treaty was a question of admissibility and not of the tribunal's jurisdiction to hear the dispute. The decision......
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Freshfields Bruckhaus Deringer | France | 29 Apr 2021

Paris Court of Appeal maintains pro-arbitration stance by upholding ICC award

The Paris Court of Appeal recently confirmed its longstanding pro-arbitration stance by upholding a $646 million award against a company owned by an Angolan billionaire. In dismissing the application to set aside the award, the court accepted the legitimacy of a five-member tribunal appointed by the International Chamber of Commerce (ICC) Court and dismissed allegations of bias against two......
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Freshfields Bruckhaus Deringer | France | 1 Apr 2021

Surviving COVID-19: arbitrations involving insolvent companies

Although the COVID-19 pandemic's full impact on the world economy remains unclear, a global surge in insolvency is expected in 2021 and 2022. A party's insolvency can affect pending and future arbitrations, which will generally depend on whether the insolvency occurs before, during or after the arbitration. However, early comprehension of certain basic factors might mitigate future risks......
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Freshfields Bruckhaus Deringer | France | 18 Mar 2021

Parties to set-aside proceedings can rely on new arguments that they failed to raise before arbitral tribunal

The Court of Cassation recently issued its decision in the ongoing Schooner saga, agreeing with the applicants that the Court of Appeal violated the Code of Civil Procedure (CCP) by preventing them from raising jurisdictional arguments in annulment proceedings. This appears to be the first time that the Court of Cassation has explicitly held that Article 1466 of the CCP does not prevent......
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Freshfields Bruckhaus Deringer | Global, Netherlands | 25 Feb 2021

Netherlands confronted with €1.4 billion ICSID claim in first Dutch investor-state arbitration

A German electricity generation company recently filed a request for arbitration against the Netherlands at the International Centre for Settlement of Investment Disputes. The application is based on the Dutch government's decision to phase out coal for electricity generation. The company has invoked an investor-state dispute settlement clause in the Energy Charter Treaty, which the European......
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Freshfields Bruckhaus Deringer | Netherlands | 4 Feb 2021

Third time lucky? The Hague Court dismisses Ecuador's defence against tribunal's non-pecuniary order

In the ongoing dispute between Ecuador and US energy multinational Chevron Corporation, The Hague District Court was again called upon to consider whether an award issued pursuant to the US-Ecuador bilateral investment treaty could be set aside. The ruling confirms The Hague court's positive view of investment arbitration and orders which are rather unconventional in such arbitration.
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