In a judgment dated June 27, 2016, the Swiss Federal Supreme Court in Lausanne rejected a challenge by Israeli oil company to an award in favour of the National Iranian Oil Company (NIOC) and its Liechtenstein subsidiary.

The case relates to a joint venture agreed between Iran and Israel before the 1979 Islamic revolution in Iran to ship oil from Iran to the Israeli port of Eilat in the Mediterranean for export to Europe . Iran and Israel established companies in Liechtenstein , Panama and Canada to implement the project. However, Israel took control of the pipeline and the joint venture companies in the wake of the 1979 Islamic revolution.

After a long-standing legal battle, in May 2015, an ad hoc arbitral tribunal seated in Zurich issued the award according to which the Israeli oil company has been ordered to pay $1.1 billion to Iran in compensation. The Israeli oil Company challenged this award but the Swiss Federal Supreme Court rejected this challenge.

Full decision can be find here:
http://www.juricaf.org/arret/SUISSE-TRIBUNALFEDERALSUISSE-20160627-4A3222015