Arbitration, Insolvency, Lex Arbitri, Lex Fori, New York Convention, New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, UNCITRAL, UNCITRAL Model Law

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Since 2019, Working Group (“WG”) V of UNCITRAL has been working on the adoption of a choice of law instrument that regulates the law applicable to the international effects of insolvency proceedings. The project seeks to include a rule on the law governing the impact of insolvency in arbitration. Part I of this post examines…

Arbitration, Insolvency, Lex Arbitri, Lex Fori, New York Convention, New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, UNCITRAL, UNCITRAL Model Law

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Building on Part I of this post, Part II explains the serious practical disfunctions that would derive from the adoption by Working Group V (“WG V”) at UNCITRAL of the current proposal to subject all the effects of insolvency in arbitration to the law of the State in which insolvency proceedings have been opened (the…

Bankruptcy, Bankruptcy and arbitration, Insolvency, UNCITRAL

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For the last couple of years Working Group V at UNCITRAL has been working on a project dedicated to the applicable law in insolvency proceedings. The law governing the effects of insolvency in arbitration has become one of the most contentious topics in the negotiations. The draft provisions subject to discussion in the 63rd session,…

Arbitration Institutions and Rules, Arbitrator Challenges, MIAC, Spain

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In a field as competitive as arbitration, international reputation is earned, not created overnight. In 2021, various judgments of the Spanish Constitutional Court (see here, here and here) have done away with some case law by inferior Madrid courts which favoured an expansive review of awards and compromised the finality of arbitration (see here and here). Spain is…

Arbitration Agreement, England, Insolvency, Jurisdiction, Spain

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One of David Guetta’s most famous songs is “When Love Takes Over”. Recent weeks have shown him that insolvency can also “take over”. The Commercial Court in Santander (Spain) ruled recently that an arbitration agreement signed by the agents of David Guetta ceased to produce effects due to the insolvency of the counterparty, the Spanish…