Arbitration award

Dr. Raza Bokhari, Former Executive Chairman and CEO of FSD Pharma, Provides Litigation Update

Retrieved on: 
Monday, October 16, 2023
Bias, Arbitration, Court, Arbitral tribunal, Drug development, US Foods, FDA, Arbitration award, FSD, Section 11 of the Canadian Charter of Rights and Freedoms, Blake, Cassels & Graydon

Files a Motion For Leave Of Court and raises concern over investment strategy of FSD Pharma

Key Points: 
  • Philadelphia, Pennsylvania--(Newsfile Corp. - October 16, 2023) - Dr. Raza Bokhari, the former CEO and Executive Chairman of FSD Pharma intends to challenge the fairness of the Court proceedings recently held in Toronto, Canada.
  • Counsels for Dr. Bokhari have filed a motion for leave to appeal the recent decision of the Commercial List Court.
  • The purpose of the appeal is to set aside the Arbitral Award issued by Arbitrator J. Douglas Cunningham in November 2022, relating to FSD Pharma's termination of Dr. Bokhari's employment.
  • The non-disclosure is contrary to the Arbitrator's disclosure obligations under Section 11 of the Ontario Arbitration Act, 1991, S.O.

ICSID upholds an arbitration ruling rendered in favor of Sodexo related to its Benefits & Rewards Services in Hungary

Retrieved on: 
Monday, May 24, 2021
Hauts-de-Seine, Sodexo, Arbitration, Arbitration award, Companies, Law, Articles

The arbitral ruling ordering the Hungarian State to pay Sodexo 73 million euros of damages (plus accrued interest since December 31, 2011), had been challenged by Hungary on May 27, 2019.

Key Points: 
  • The arbitral ruling ordering the Hungarian State to pay Sodexo 73 million euros of damages (plus accrued interest since December 31, 2011), had been challenged by Hungary on May 27, 2019.
  • The ICSID committees decision to reject Hungarys challenge means that the January 2019 favorable arbitral award, announced by Sodexo on February 4, 2019 , is now final and binding.
  • Founded in Marseille in 1966 by PierreBellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance.
  • Operating in 64 countries, Sodexo serves 100million consumers each day through its unique combination of On-site Services, Benefits & Rewards Services and Personal & Home Services.

Swedish Supreme Court Rejects Kazakhstan's Renewed Challenge To Arbitral Award

Retrieved on: 
Monday, May 18, 2020
Countries, Continents, Law, Arbitration, Arbitration award, Business law, Civil procedure, KAZAKHSTAN, Arbitral tribunal, Supreme Court of India, Supreme Court of Pakistan

NEW YORK, May 18, 2020 /PRNewswire/ -- The Swedish Supreme Court, on May 18, handed down its judgment in The Republic of Kazakhstan v Ascom Group S.A. et al dismissing with prejudice Kazakhstan's renewed challenge to a US$543 million Swedish arbitral award issued by a Stockholm seated arbitral tribunal in December 2013.

Key Points: 
  • NEW YORK, May 18, 2020 /PRNewswire/ -- The Swedish Supreme Court, on May 18, handed down its judgment in The Republic of Kazakhstan v Ascom Group S.A. et al dismissing with prejudice Kazakhstan's renewed challenge to a US$543 million Swedish arbitral award issued by a Stockholm seated arbitral tribunal in December 2013.
  • Kazakhstan had brought an unprecedented third challenge to the award in April 2020, having lost the first two challenges in December 2016 and March 2020 respectively.
  • Kazakhstan's application to appeal the Svea Court ruling by way of extraordinary review application was rejected by the Swedish Supreme Court in October 2017.
  • The award has since been fully upheld by two tiers of the Swedish judiciary, including the Swedish Supreme Court.

Swedish Supreme Court Rejects Kazakhstan's Renewed Challenge To Arbitral Award

Retrieved on: 
Monday, May 18, 2020
Countries, Continents, Law, Arbitration, Arbitration award, Business law, Civil procedure, KAZAKHSTAN, Arbitral tribunal, Supreme Court of India, Supreme Court of Pakistan

NEW YORK, May 18, 2020 /PRNewswire/ -- The Swedish Supreme Court, on May 18, handed down its judgment in The Republic of Kazakhstan v Ascom Group S.A. et al dismissing with prejudice Kazakhstan's renewed challenge to a US$543 million Swedish arbitral award issued by a Stockholm seated arbitral tribunal in December 2013.

Key Points: 
  • NEW YORK, May 18, 2020 /PRNewswire/ -- The Swedish Supreme Court, on May 18, handed down its judgment in The Republic of Kazakhstan v Ascom Group S.A. et al dismissing with prejudice Kazakhstan's renewed challenge to a US$543 million Swedish arbitral award issued by a Stockholm seated arbitral tribunal in December 2013.
  • Kazakhstan had brought an unprecedented third challenge to the award in April 2020, having lost the first two challenges in December 2016 and March 2020 respectively.
  • Kazakhstan's application to appeal the Svea Court ruling by way of extraordinary review application was rejected by the Swedish Supreme Court in October 2017.
  • The award has since been fully upheld by two tiers of the Swedish judiciary, including the Swedish Supreme Court.

Court Affirms Privinvest Group’s €1.2 Billion Arbitration Award against Greece

Retrieved on: 
Monday, April 15, 2019
Transport, Maritime, Other Transport, Professional services, Legal, Countries, Geography of Europe, Law, Arbitration, Arbitration award, Business law, Civil procedure, Arbitral tribunal, Hellenic Shipyards Co., Second Hellenic Republic, Greece

The Athens Court of Appeal last week rejected the Greek governments request to set aside a 2017 arbitration award worth more than 1.2 billion to Privinvest Group for the governments default on payments to Privinvest and its subsidiary Hellenic Shipyards.

Key Points: 
  • The Athens Court of Appeal last week rejected the Greek governments request to set aside a 2017 arbitration award worth more than 1.2 billion to Privinvest Group for the governments default on payments to Privinvest and its subsidiary Hellenic Shipyards.
  • In September 2017, an arbitration tribunal issued an award in favour of Hellenic Shipyards and the Privinvest Group.
  • On 8 April 2019, the Athens Court of Appeal upheld the ICCs award worth more than 1.2 billion award to Privinvest.
  • Privinvest added: If the Hellenic Republic had implemented the ICC award, it could have given new life to Hellenic Shipyards.

English Court of Appeal Sides With Award Creditors And Shuts Down Local Enforcement Proceedings Against Kazakhstan

Retrieved on: 
Friday, August 10, 2018
Law, Arbitration, Arbitration award, Business law, Civil procedure, Enforcement, KAZAKHSTAN

The Stati parties originally commenced the English enforcement proceedings in February 2014 as part of their long-running battle to enforce an arbitral award issued in December 2013 against Kazakhstan for violating the investor protection provisions of the Energy Charter Treaty (the "Award").

Key Points: 
  • The Stati parties originally commenced the English enforcement proceedings in February 2014 as part of their long-running battle to enforce an arbitral award issued in December 2013 against Kazakhstan for violating the investor protection provisions of the Energy Charter Treaty (the "Award").
  • Two tiers of the Swedish judiciary have since fully upheld the Award, including the Swedish Supreme Court.
  • Given the value of these attachments and substantial progress made in enforcing the award in other jurisdictions, the Stati parties decided to discontinue the English enforcement proceedings in February 2018.
  • The Stati parties acquired two companies in 1999 that held idle licenses in the Borankol and Tolkyn fields in Kazakhstan.