New York Federal Court Confirms Arbitration Award Under Cyprus-Libya Bilateral Investment Treaty

On March 23, 2022, a New York federal court confirmed an award in an arbitration before a tribunal of the International Chamber of Commerce (ICC) between Olin Holdings Ltd. and the state of Libya under a bilateral investment treaty. In the underlying ICC arbitration, Olin claimed that the Libyan government obstructed the operation of, and ultimately expropriated, Olin’s dairy factory in Libya’s capital city Tripoli in violation of the bilateral investment treaty between Libya and Cyprus, where Olin was formed. Olin sought $147,882,000 as compensation for the damages it allegedly incurred as a result…

Read the complete story here.

Featured Arbitrators

ad
View all
ad

Read these next

Category

Has the 11th Circuit Clarified the Transportation Worker Exemption of the FAA or Just Created a Circuit Split?

This article was first published on the Employment Class Action Blog here. In a published June 22 opinion, the Eleventh Circuit laid out a clear test for the Federal Arbitration...

By John Lewis
Category

SCOTUS Won’t Reconsider Denied Cert. Petition on FAA Applicability to Amazon Drivers

This article first appeared on Securities Arbitration Alert, here. SCOTUS again has eschewed an opportunity to clear up the split over the Federal Arbitration Act’s (“FAA”) section 1 exemption for...

By George Friedman
Category

The Year Ahead: Developments in Global Litigation and Arbitration in 2021

This article first appeared on Global Arbitration News by Baker McKenzie, here. The Year Ahead – our publication looking at key developments in global litigation and arbitration for 2021 – is...

By Claudia Benavides Galvis, Benjamin Roe

Find an Arbitrator

X
X
X