The Supreme Court of India in Oil and Natural Gas Corporation Ltd. vs Afcons Gunanusa JV ruled that the unilateral determination of arbitrators’ fees contradicts the fundamental principle of party autonomy. Decisions such as this one raise important questions such as: What is a reasonable fee for an arbitrator? How should these fees be determined…
International arbitration proceedings typically involve fact-sensitive and technically complex transnational disputes, and usually require large legal teams, multiple expert and fact witnesses, making the costs skyrocket. In this scenario, a party lacking the necessary funds might decide not to pursue a legitimate claim. This limited access to arbitral justice is concerning from a policy standpoint,…
On March 21, 2022, the Member States of the International Centre for Settlement of Investment Disputes (“ICSID”) approved a comprehensive reform of its rules and regulations, including the rules of procedure for ICSID arbitration proceedings (“New ICSID Rules”). Drafted over a five-year consultation process and six working papers, this profound amendment aims to “modernize, simplify,…
