On 30 July 2026, the arbitral tribunal in Cyrus Capital Partners, L.P. and Contrarian Capital Management, LLC v. United Mexican States rendered its Award in ICSID Case No. ARB/23/33, concluding that it lacked jurisdiction over the claims brought against Mexico under Chapter 11 of the North American Free Trade Agreement (“NAFTA”) and Annex 14-C of […]
Hong Kong Sets Aside USD 481.6 Million Award: The Duty to Address the Defence Actually Advanced
In its judgment of 23 January 2026 in SJ and another v A Limited (“Judgment”), the Hong Kong Court of First Instance (“Court”) set aside an arbitral award ordering payment of USD 481,603,937.80 plus interest (“Award”). The Court held that the arbitral tribunal (“Tribunal”) had failed to address an essential aspect of an estoppel defence: […]
Banesco v. Panama: ICSID Jurisdiction, Foreign-Controlled Companies and Regulatory Ambiguity
On 5 May 2026, the arbitral tribunal (the “Tribunal”) in the ICSID proceedings brought by Banesco Holding Latinoamérica, S.A. (“BHL”) and Banesco (Panamá), S.A. (“Banesco Panama”) against the Republic of Panama (“Panama”) rendered its final award (the “Award”). The Tribunal, composed of Franz X. Stirnimann Fuentes as President, Rafael Rincón Ordóñez, and Alvaro Galindo, accepted […]
Perjury and False Evidence in International Arbitration
Witness evidence can be decisive in international arbitration. Tribunals regularly rely on company representatives, employees, experts and other witnesses to determine what happened and, in many cases, to determine how much loss was suffered. But what happens when a witness deliberately lies? The consequences can extend well beyond the loss of credibility. Depending on the […]
Andraous v. Netherlands: Share Ownership, Employment Rights and the Definition of an Investment
On 20 May 2026, an arbitral tribunal (the “Tribunal”) constituted under the 1976 UNCITRAL Arbitration Rules (the “UNCITRAL Rules”) issued its Final Award (the “Award”) in Abdallah Andraous v. Kingdom of the Netherlands, ICSID Case No. UNCT/23/3. The arbitration was brought by Mr Abdallah Andraous (the “Claimant”) against the Kingdom of the Netherlands (the “Respondent”) […]