Topic: Fees
Billion-dollar award debt written off in UK restructuring
A UK court has approved a restructuring plan for a subsidiary of Houston-based construction group McDermott that will effectively extinguish a US$1.3 billion ICC award debt owed to a Colombian state-owned entity.
28 February 2024
SCC announces new board members and fee hike
The SCC Arbitration Institute has added five new members to its board as it announces a rise in its arbitrator fees.
02 January 2024
Romania opposes ICSID claimant’s “staggering” costs request
Romania has asked an ICSID tribunal to dismiss a Canadian mining group’s “staggering” request to recover almost US$64 million plus interest in costs stemming from its long-running US$4.4 billion treaty claim.
12 May 2023
Treaty claimant’s estate resists success fee demand
A judge in London has refused to allow two law firms to summarily enforce conditional fee agreements against the estate of a deceased businessman they represented in an investment treaty arbitration – finding it was realistically arguable that the retainers didn’t comply with applicable legislation.
24 April 2023
UK eases legal fee rules for sanctioned Russians
UK financial sanctions agency OFSI has simplified the process for lawyers accepting payments from clients on Russian and Belarusian sanctions lists.
01 November 2022
Brazilian pulp award survives hacking allegations
A Brazilian court has upheld an ICC award in an acrimonious dispute over the multibillion-dollar sale of a pulp producer, dismissing allegations the procedure was tainted by a cyberattack and a conflict of interests and awarding US$114 million in legal fees to the winning side.
04 August 2022
Volterra Fietta can't collect fees under unlawful retainer
The High Court in London has affirmed that Volterra Fietta is not entitled to any of the nearly US$3 million it billed a client in an investment treaty arbitration under a conditional fee agreement that was found to be unlawful.
02 August 2022
Switzerland sees off first ICSID case after claimant is liquidated
The first-ever ICSID claim against Switzerland has been discontinued for failure to pay costs after the claimant was liquidated in the Seychelles at the request of its former arbitration counsel.
25 January 2022
Hong Kong urged to lift ban on success fees
The Law Reform Commission of Hong Kong has recommended that a ban on success fees in arbitration should be lifted to bring the special administrative region in line with other major arbitral seats.
15 December 2021
Brown Rudnick sues construction client after ICDR win
US firm Brown Rudnick has sued to recover fees from an Austrian construction client after successfully defending it in a US$100 million ICDR arbitration.
01 October 2021