Economic Consulting News & Insights: October 2013
The Economic Consulting Newsletter provides you with a recap some of the latest developments in the dispute, litigation and international arbitration space, as well as share our thoughts and opinions on recent trends affecting the markets. In this issue you can find the following:
Recent Cases and Decisions
- Oei Hong Leong v Goldman Sachs International: Mr Oei Hong Leong allegedly claims that Goldman Sachs International misled him into making currency trades which lost him more than JP¥3 billion (S$38 million). The claimant is now seeking damages amounting to the same sum.
- Astro Group v Lippo Group: Indonesia's Supreme Court has refused to enforce a series of SIAC awards worth US$303 million issued in favour of Malaysia's Astro Group in a dispute over a failed TV venture.
- Peru v Caravelí Cotaruse Transmisora de Energía SAC: The government of Peru has filed a claim against Caravelí, a power transmission operator, relating to two concession contracts for the construction of electricity transmission lines in Peru, the contracts were entered into in 2008 between the two parties.
- Danube Foods Group and Clates Holdings Canada v Serbia: Danube Foods Group and Clates Holdings, the claimants, have filed a notice of dispute against Serbia for allegedly improperly freezing their assets in the country, which has led, and/ or will lead, to losses of over EU€100 million.
- Gennady Mykhailenko and United Pipe Export Company Trading v Belarus: Gennady Mykhailenko, imprisoned by the Belarusian authorities, has filed a notice of dispute against the state for US$175 million over the alleged expropriation of his investment in a steel pipe factor.
Industry Insight: Solar power industry – favorable market economics?
Thought of the Month: Third party funding – the debate goes on?