Reflecting the ever-evolving landscape of international commercial arbitration, the latest edition of the ICCA International Handbook on Commercial Arbitration covers significant legislative developments from Greece and Israel, both of which have enacted new laws modernizing and aligning domestic frameworks with international standards.
Greece’s Embrace of the UNCITRAL Model Law
Greece has recently made significant strides in its arbitration framework through the enactment of Law No. 5016/2023 on International Commercial Arbitration. This legislation, which has in the past been described by one of its drafters as the UNCITRAL Model Law “on steroids,” represents a major step forward in the country’s commitment to international arbitration standards.
The new law introduces several key improvements, including enhanced procedural flexibility, stronger enforcement mechanisms, and clearer rules for interim measures. Handbook author Ioannis Vassardanis notes that these changes aim “at modernizing the relevant framework to adhere to international standards and contemporary practices, and to promote efficiency of arbitral proceedings in Greece.”
Israel’s New Arbitration Regime Adapting the Model Law
On 12 February 2024, Israel introduced its new International Commercial Arbitration Law, 2024, based on the UNCITRAL Model Law of 1985 as amended in 2006. While closely following the Model Law’s framework, Israel has introduced a noteworthy feature allowing certain arbitration-related decisions to be appealed to the Supreme Court, subject to leave being granted. Potentially appealable decisions concern the following four topics:
- Appointment of arbitrators;
- Arbitrator challenges;
- Termination of arbitrator mandates; and
- Tribunal jurisdiction decisions.
Although leave to appeal is granted only in exceptional cases, this mechanism provides the appellate court with some supervisory power over the court of first instance. In this regard, Handbook author Daphna Kapeliuk notes that, given the strict criteria for granting leave to appeal, “it may be expected that only a scant number of decisions will be heard by the Supreme Court.” This approach aims to preserve the efficiency of arbitration while maintaining a safety valve for exceptional cases warranting higher judicial review.
For detailed analysis of these developments and other updates in international arbitration laws, please consult the ICCA Handbook on Kluwer Arbitration.
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