Paris Court of Appeal maintains pro-arbitration stance by upholding ICC award
Introduction In a judgment of 26 January 2021, the Paris Court of Appeal confirmed its longstanding pro-arbitration stance by upholding a $646 million award against a company owned by Angolan billionaire Isabel dos Santos. In dismissing the application to set aside the award, the court accepted the legitimacy of a five-member tribunal appointed by the International Chamber of Commerce (ICC) Court and dismissed allegations of bias against two arbitrators.(1) The underlying ICC arbitration was commenced in 2015 by PT Ventures (PTV), a Portuguese subsidiary of Angola's national oil and gas compa...
Source: internationallawoffice.com