Tag Archives: arbitration

Case of the Day: Mobil Cerro Negro v. Venezuela

The case of the day is Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela (S.D.N.Y. 2015). In 2007, Venezuela expropriated Mobil’s interest in various oil projects in the country. Mobil commenced an ICSID arbitration under a bilateral investment treaty. In 2014, the tribunal awarded Mobil approximately $1.6 billion, which remains unpaid. A day after issuance of the award, Mobil, by way of an ex parte and summary proceeding, obtained recognition of the award in New York. Venezuela moved to vacate the judgment. It later asked the tribunal to modify the award on the grounds that the award gave Mobil a double recovery in light of a recovery Mobil had obtained from the Venezuelan state-owned oil company. ICSID’s Secretary-General stayed the award pending the outcome of the motion to modify it.
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Case of the Day: Continental Transfert Technique v. Nigeria

The case of the day is Continental Transfert Technique Ltd. v. Federal Government of Nigeria (D.C. Cir. 2015). I last wrote about the case in August 2011. In 1999, Continental, a Nigerian corporation, made a contract with Nigeria’s Ministry of the Interior to create a computerized residence permit and alien card system. After disputes about the contract arose, Continental initiated an arbitration in London, pursuant to the contract. The arbitrators entered an award in favor of Continental in 2008 for ₦ 29.6 billion. Continental sought recognition and enforcement of the award in Washington. Here was my earlier summary of what happened next.
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Case of the Day: Flame S.A. v. Industrial Carriers, Inc.

The case of the day is Flame S.A. v. Industrial Carriers, Inc. (E.D. Va. 2014). This is the same case I wrote about on August 8, 2014. In the prior post, the issue was recognition of an English judgment Flame, a Swiss shipping and trading company, had obtained against Industrial Carriers for breach of a forward freight contract. In today’s post, the issue was whether another of the plaintiffs, Glory Wealth Shipping PTE Ltd., was entitled to maintain a maritime attachment of the M/V Cape Viewer on account of a default judgment from the Southern District of New York recognizing an English arbitral award Glory Wealth had obtained against Industrial Carriers. But the challenge to the attachment was not brought by Industrial Carriers, but by Freight Bulk PTE Ltd., which was not a party to the New York case and, it appears, not even a party to the underlying arbitration.
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