Tsegaye Laurendeau

International commercial arbitration

• Representing CA Investment (Brazil), the Brazilian subsidiary of Paper Excellence, in a much-publicised USD 3bn dispute against Brazil’s second largest business group, J&F Investimentos, concerning the acquisition of Eldorado Brasil, a pulp production major. The dispute spanned 6 years, involved four arbitrations and multiple court proceedings in several jurisdictions. We played an instrumental role in securing a global settlement between the parties.
• Representing a major European retail group in a USD 2.5bn ICC claim against its South American JV partner concerning breaches of a shareholders’ agreement relating to the issues of control in their joint venture company.
• Representing an international mining company as the Respondent in a USD 2bn ICC arbitration dispute against a European energy trading company under a coal supply agreement concerning delivery obligation and broader JV issues relating to the financing of the project.
• Representing a North American heavy equipment supplier and contractor in a USD 2bn dispute under the Rules of Arbitration Foundation of South Africa (AFSA) against a national energy company arising out of two major electricity infrastructure projects and involving issues of delays, disruption and defects.
• Representing a PE fund in ICC and HKIAC arbitrations and related court proceedings in multiple jurisdictions initiated by investors in relation to the transfer of assets worth over USD 1.5bn managed by the fund.
• Representing a group of shareholders against two shareholders in the same company in an ICC dispute with a total value exceeding USD 1bn concerning the interpretation of a put option provision and underlying accounting standards in connection with the acquisition of shares in the company.
• Representing an entity within a large gambling group in a USD 600m ICC dispute arising out of a joint-venture partnership with a listed software group in relation to a project in LATAM.
• Representing an ultra-high-net-worth individual in separate ICC and Swiss arbitration proceedings with the total value of in excess of USD 500m concerning fraudulent mismanagement of an offshore trust structure – a Panamanian Foundation.
• Representing a North American information management company in a USD 500m dispute under SIAC Rules in Singapore against a South Asian private equity firm in relation to a jointly owned data management company in India. The dispute concerned the valuation of the company prior to the exercise by the claimant of its option to acquire the entirety of the minority shareholder’s interest in the company and involved the interpretation of IFRS and GAAP standards in financial statements.
• Representing a Middle Eastern fund as the Respondent in a USD 500m ICC arbitration dispute seated in Paris commenced by a leading football club. This dispute arose from a sports sponsorship agreement.
• Representing the Respondent in an ICC dispute valued at no less than USD 200m with an international mining company concerning enforcement under debt security agreements.
• Representing a major European company in a shareholders’ dispute under ICC Rules with a total value exceeding USD 100m in relation to a profit-sharing arrangement which concerned a nuclear power plant in the PRC.
• Representing a LATAM company in several LMAA disputes valued at USD 75m against its JV partner concerning time-charter agreements relating to the provision of services for off-shore oil rigs.
• Representing an African telecom infrastructure company in USD 50mn ICC dispute with an African telecom provide arising out of an infrastructure license agreement and involving issues relating to mobile tower installation requirements and license payments.
• Representing an international accounting firm in a high-stakes dispute under the Rules of Arbitration of the Vietnam International Arbitration Centre (VIAC) against a Southeast Asian conglomerate arising out of its audit and involving International Standards on Auditing and accounting issues.

International arbitration involving states and state-owned companies

• Representing a European FTSE 250 exploration and development company in a USD 5.5bn UNCITRAL claim against a South Asian country concerning violation of FET standards and compromise of the principle of legal certainty arising out of the adoption of adverse retrospective income tax measures and seizure of the investor’s shares and dividends.
• Representing a country in the MENA region in an ICSID dispute with the total claim value in excess of USD 5bn in relation to an investment into the operation of a telecoms company in Algeria.
• Representing a natural gas seller in a series of CRCICA arbitrations in Cairo and Madrid commenced by the buyer and owner of a liquefaction plant and arising out of a tolling agreement and a related long-term gas supply agreement with the total value of claims exceeding USD 4bn.
• Representing two international construction contractors who were respondents in a USD 3.7bn ICC arbitration in London initiated by a Middle Eastern State-owned company. The dispute concerned the development of a world-class medical facility in the Middle East.
• Representing a MENA State in defending a USD 500mn claim brought by a UAE construction company in ad hoc/UNCITRAL arbitration under the Organisation of the Islamic Conference Agreement relating to the termination of its investment in the host State and involving issues of expropriation and fair and equitable treatment.
• Representing a global conglomerate engaged in the procurement and export of agricultural commodities with operations across Africa, in relation to a USD 400m investment treaty arbitration against an East African State and involving allegations of expropriation of the investor’s goods and other malfeasances.
• Representing a Malaysian investor in connection with two large-scale mining projects in Poland in a USD 500m ICC investment treaty arbitration involving allegations of expropriation, breaches of the FET and FPS standards, and a breach of the obligation to encourage and create favourable conditions for foreign investors pursuant to the Malaysia-Poland Bilateral Investment Treaty.
• Representing a group of investors in a large-scale mining project in Eastern Europe in a USD 220m UNCITRAL investment treaty arbitration claim against the host State involving allegations of expropriation and breaches of the FET standard
• Representing an international logistics company in a USD 150mn ICC dispute against the Port Authority of an African State arising out of a concession agreement related to the management and operation of a container terminal and involving contractual exclusivity provisions.

Selected experience as arbitrator

• Sole arbitrator in two related arbitrations in a dispute arising out of an agreement for the provision of internet telecommunication infrastructure services in West Africa. ICC Rules, English law applies, arbitration seated in London.
• Co-arbitrator in an arbitration arising from an intelligence gathering contract in relation to a port container terminal facility construction project in Egypt. LCIA Rules, English law applies, and the seat of the arbitration is London.
• Sole arbitrator in a dispute relating to fees due under a contract for the provision of payment technology services by the Claimant to the Respondent. LCIA Rules, English law applies, and the seat of the arbitration is London.
• Co-arbitrator in a dispute arising from a Share Purchase Agreement in relation to oil and gas assets located in Kenya. LCIA Rules, English law applies, arbitration is seated in Nairobi, Kenya.
• Co-arbitrator in an ICC arbitration between a military equipment and services company and an African State. FDRE law applies, arbitration seated in Addis Ababa, Ethiopia.
• Sole arbitrator in two related arbitrations in a dispute arising out of a loan agreement. LCIA Rules, English law applied, arbitration seated in London.
• Co-arbitrator in a dispute between an American financial institution and an African state entity arising out of an international money transfer agreement. LCIA Rules, English law applied, arbitration seated in London.

Selected experience in project finance. Advising:

• Guinea Alumina Corporation (a joint venture between Mubadala Development Company and Dubai Aluminium) on the USD 1.6bn development and financing of a bauxite mine, alumina refinery and related infrastructure in the Republic of Guinea.
• AES Corp. in relation to the USD 500m refinancing of a syndicated multilateral credit facility for a long-term capital investment program relating to power projects in Cameroon.
• A syndicate of multilateral lenders in relation to the financing of the Derba Midroc cement plant in Ethiopia.
• Vergnet on the development and financing of the 120 MW wind farm in Ashegoda, Ethiopia.
• Sponsors JGC Corporation and SOGEX Oman in their successful O&M bid for the Terga and Koudiet (Algeria) 2400MW gas-fired power plants.
• Mubadala Development Company (investment arm of the Abu Dhabi government in the UAE) with respect to its acquisition of a stake in a portfolio of water desalination projects and sewerage concessions throughout the Middle East and North Africa.