Another year ends with set records for investment arbitration in Latin America. ICSID reported that, out of the new forty-five registered cases, twenty-one were brought against Latin American and Caribbean states (the annual report covers the fiscal year from July 1, 2022 to June 30, 2023). In other words, almost fifty percent of the new…
The uncertainties faced by investors and stakeholders in 2023 was intensified by the notable shift in Latin America’s political regimes. The emergence of left-wing electoral victories echoed the political landscape of the 2000s, marked by ambiguity, volatility, and political risk. In the realm of arbitration, several jurisdictions have undergone significant developments. Mexico and Chilean arbitration…
In August 2023, the Institute for Transnational Arbitration (“ITA”) published the “Final Report and Recommendations of the ITA Caribbean Task Force” (“Report”). The Task Force, when the Report was published, consisted of Calvin Hamilton and Hon. Barry Leon (Co-Chairs) and Theominique D. Nottage (Deputy Chair), who are the authors of this post. The Task Force…
On 11 July 2023, Trinidad and Tobago (“T&T”) enacted the Arbitration Act 2023 (the “Act”) to significantly modernise the domestic and international arbitration legal framework of the country. The Act repeals the Arbitration Act, Chap. 5:01 (the “Former Arbitration Act”) dating back to 1939, that was based on the 1889 and 1934 British arbitration laws,…
In 2011, the ITA published its inaugural Guide to Arbitral Institutions in Latin America and an accompanying “Scoreboard.” The conclusion of this inaugural guide was: “The era of Latin American arbitral institutions has arrived. Building on a strong legal framework, arbitral institutions have emerged throughout the region.” This year, the Americas Initiative of the ITA…
Typically, when a country is labelled as an “arbitration-friendly jurisdiction”, contracting parties are assured that the Judiciary of that country will respect their autonomy and choice to resolve their disputes privately. Usually, courts in a pro-arbitration jurisdictions will likely adopt a hands-off approach and decline to interfere with the outcome of a decision to arbitrate….
When you think about the British Virgin Islands (BVI), you probably have a very good image of the sea, sand, beautiful views and maybe some very much needed vacation. There is however more to the BVI, particularly as relates to arbitration. It is possible that in the coming years, the BVI will be one of…
Cruising around investment cases against the Caribbean islands is not only a recreational journey. It is also an informative one. This article aims at presenting key observations made during this journey. As mentioned in a previous publication, since 1973, the sovereign islands of the Caribbean Sea, have concluded over 140 international investment agreements. The ICSID…
In an interview given to the Paris Review in 1981, Colombian writer Gabriel Garcia Marquez observed that “Caribbean reality resembles the wildest imagination.” This myth (or reality) of the Caribbean as a wild region declines into various aspects such as its unsettled climate, ruthless history, or multicultural society. This might explain, on top of their…
