The American Lawyer Global Disputes of the Year honor the winning team in transnational cases no matter where they play out. Among this year’s winners are the holders of record awards in both commercial and investment arbitration (The Dow Chemical Company and Occidental Petroleum Corporation). Roman Abramovich and Porsche Automobil Holding SE beat back multibillion-dollar transnational claims in more traditional (national) forums. Mayer Brown improbably pioneered the law in Geneva on technical barriers to trade, while arguably preserving the livelihood of millions of Indonesian clove farmers. For its part, Davis Polk & Wardwell helped an Italian bank to escape a U.S. fine for dodging economic sanctions in a year when some of its global peers paid nine figures for the privilege of trading with the enemy.
GRAND PRIZE WINNER
Global Dispute of the Year, Commercial Arbitration: Dow v. Kuwait Petroleum
Reneging on deals can be costly. Kuwait found that out the hard way when an arbitral tribunal ordered Petrochemical Industries Corporation (PIC), a subsidiary of Kuwait Petroleum Corporation, to pay nearly $2.5 billion to its former joint venture partner, The Dow Chemical Company.
