Putterman Yu Wang Helps Client Reach Settlement of $200 Million+ Contract Termination Dispute With Investor
April 2026
PYW client Terra Global Capital (“Terra”), a global leader in management of projects to generate carbon credits through environmental preservation and restoration, reached a settlement resolving its dispute with Anew Capital (“Anew”), a private equity firm that had invested in a carbon credit project development fund managed by Terra, following successful motion and hearing practice in the Delaware Superior and Chancery Courts and before the International Chamber of Commerce.
Anew was an investor in the Terra Bella Nature-Based Solutions fund (“TB-NBS”), and agreed to invest a minimum of $230 million to provide development funding and purchase carbon credits from projects to be developed by TB-NBS. Less than three years into the 21-year term of the contract, Anew attempted to terminate its agreement with TB-NBS and walk away from its $230 million commitment.
After Terra invoked the dispute resolution provision in the contract that Anew purported to terminate, which required arbitration before the International Chamber of Commerce, Anew preemptively filed a lawsuit in the Delaware Superior Court. Terra moved to dismiss the Delaware proceedings based on the arbitration clause, and initiated arbitration proceedings in the ICC, which were ordered to be paused by the Delaware court pending its decision on Terra’s motion to dismiss. In November 2025, the Delaware court granted Terra’s motion to dismiss the court proceedings based on the arbitration clause, allowing the dispute to proceed in arbitration before the ICC.
Following confidential proceedings at the ICC, the parties reached a mutually agreed settlement agreement resolving the dispute.
PYW partners Philip Wang and George Chikovani and Of Counsel Traci Keith represented Terra.