Tag Archives: Netherlands

Lago Agrio: Dutch Court Rejects Ecuador’s Motion to Set Aside the Interim Awards

The District Court of the Hague has rejected Ecuador’s attempt to set aside the interim awards entered by the tribunal hearing the BIT dispute between Ecuador and Chevron. As I have previously noted, the tribunal had ordered Ecuador to “take all measures necessary to suspend or cause to be suspended the enforcement and recognition within and without Ecuador of the judgments” the Ecuadoran courts had issued against Chevron, pending the outcome of the arbitration.
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Case of the Day: In re Petition of Macquarie Bank

The case of the day is In re Petition for Judicial Assistance of Macquarie Bank, Ltd. (D. Nev. 2015). Macquarie, an Australian bank, had lent $11 million to Juno Holdings, B.V., a Netherlands Antilles company, in anticipation of an IPO by Juno’s indirect subsidiary, Liberty Financial Pty Ltd. Juno did not repay the loan, and Macquaries sued in a Netherlands Antilles court and obtained a judgment. Macquarie sought to collect by seeking to attach Juno’s shares in one of its other subsidiaries, Jupiter Holdings, B.V., a Dutch company. The idea was that Juno owned shares in Minerva Financila Group Pty Ltd., which in turn was the ultimate own er of Liberty Financial. For the purpose of collection, Macquarie brought an action in the Netherlands. In aid of discovery in that case, Macquarie sought discovery in the U.S. from Sherman Ching Ma, who it alleged was director of Juno, Jupiter, Liberty, and Minerva.
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