Work Area: Arbitration

Petrobras shareholders fail to revive arbitration against Brazil

Two minority shareholders in Brazil’s national oil and gas company Petrobras have failed to persuade a São Paulo court to reinstate a jurisdictional award in a US$34 billion arbitration against Brazil arising from the Lava Jato corruption scandal.

24 November 2023

Demarest promotes five to partnership

Elite firm Demarest Advogados has bolstered its corporate, disputes and insurance teams by elevating five of its lawyers to the partnership.

22 November 2023

Glencore brings new ICSID claim against Colombia

Swiss commodities group Glencore has brought a fourth International Centre for Settlement of Investment Disputes (ICSID) claim against Colombia, as a US$254 million award it won against Bolivia becomes public.

22 November 2023

White & Case expands LatAm group in Mexico and New York

White & Case LLP has strengthened its Latin American offering by promoting five lawyers to the partnership in its Mexico City and New York offices as part of a global promotion round.

20 November 2023

Counsel in place for Mexico lithium dispute

A London-listed mining company has appointed external counsel as it requests talks with Mexico to settle an investment treaty dispute over a cancelled lithium concession.

20 November 2023

Electricity investors seek to enforce ICSID award against Peru

Singaporean companies linked to Israeli billionaire Idan Ofer have applied to a US court to enforce an International Centre for Settlement of Investment Disputes (ICSID) award against Peru worth more than US$116 million plus interest.

17 November 2023

Canadian miner secures funding for treaty claim against Colombia

A Canadian mining company says it has secured funding for its investment treaty claim against Colombia – which it said risked being discontinued over a failure to pay costs.

15 November 2023

Kellogg spin-off brings claim against Venezuela

A spin-off of US food manufacturer Kellogg has brought a treaty claim against Venezuela over the alleged expropriation of its factory and unauthorised use of its trademarks in the state.

14 November 2023

IBA panel predicts LatAm investment arbitration to rise

As Latin American states look increasingly to foreign investment to fill the infrastructure gap, the number of disputes is expected to increase amidst a backdrop of political instability and rising ESG trends, suggested lawyers speaking on a panel at the IBA’s Annual Conference in Paris.

10 November 2023

Tax fraud leads to partial set-aside of Venezuelan treaty award

The Paris Court of Appeal has wiped more than US$126 million off an investment treaty award against Venezuela after finding that it compensated the claimants for payments that had contributed to a tax evasion scheme in Chile.

09 November 2023

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