Appointment of arbitrators, BIT, Dutch Model BIT, foreign direct investment, ISDS, Party autonomy, Sustainability

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On 22 March 2019, the Dutch Government released the text of the new model Netherlands BIT. Its idealism has been applauded: the new model prioritizes gender and regional diversity as well as the United Nations sustainability goals. Yet, what would the effect be of some of the model’s provisions on Foreign Direct Investment (‘FDI’)? For…

Appellate Court, Arbitration, Arbitration Institutions and Rules, Arbitration Proceedings, BIT, Investment Arbitration, Reform, UNCITRAL WG III Series, Working Group III

(Albright StoneBridge Group)/ /1 Comment

One of the topics on the agenda of UNCITRAL Working Group III is the establishment of an Appellate Court system. The system of investor-State dispute resolution therefore now faces the fact that WG III is considering, among other matters, the following: the repeal of local law governing the setting aside of an UNCITRAL award giving…

Adjournment, Arbitration Awards, Enforcement, New York Convention, Set aside an arbitral award

(Albright StoneBridge Group)/ /1 Comment

I discussed in a previous post on the blog the decision of 18 February 2020 of the Court of Appeal in The Hague that revived the awards rendered in July 2014 against the Russian Federation in Veteran Petroleum Ltd., Yukos Universal Ltd. and Hulley Enterprises Ltd. cases. Those awards had been annulled in April 2016 on the basis that there…

Arbitration Agreement, Energy Charter Treaty, Russia, Treaty Interpretation, UNCITRAL, Vienna Convention on the Law of Treaties, Yukos

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Introduction On the 18th of February, the Court of Appeal in The Hague reversed the lower court’s decision annulling the awards rendered against the Russian Federation in Veteran Petroleum Ltd., Yukos Universal Ltd. and Hulley Enterprises Ltd. cases. The awards are thus revived. Notwithstanding the global notoriety and public controversy, the identity of the protagonists,…

National Courts, New York Convention, New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, VCLT, VCLT Jubilee, Vienna Convention on the Law of Treaties

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Those applying treaties and interpreting them must remember two salient points: (1) as international adjudicators or as members of the judiciary they must apply a treaty not on the basis of discretionary powers and a judicial hunch but on the basis of the Vienna Convention on the Law of Treaties (VCLT) and (2) lack of…

Arbitration, Arbitration Awards, Arbitration Proceedings, Enforcement, International arbitration, Investment Arbitration, New York Convention, New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, Public Policy, United States, USA

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The decision made in the case of Hardy Exploration & Production (India), Inc. v. Government of India, Ministry of Petroleum & Natural Gas (Civ. Action No. 16-140 (D.D.C. 7 June 2018)) (“Hardy case”) is yet another decision in a string of outcomes under the New York Convention proving that the repeated adagio “if it ain’t broken,…

Arbitration, Arbitration Awards, Arbitration Proceedings, Blockchain, Enforcement, International arbitration

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Sometimes, the establishment needs to step aside to let the next promising generation create a new way forward: So it commences with entrepreneurial students at the University of Miami, combining talents of engineering, technology, and international law and arbitration. It is by thinking out of the box that disruptive changes happen and they must in…

Arbitration, Arbitration Proceedings, ICSID, ICSID Arbitration, ICSID Convention, Investment Arbitration, Mediation, Negotiation

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In the world of International Arbitration (“IA”), one distinguishes between commercial arbitration and investment arbitration, the latter widely referred to as Investor-State Dispute Settlement or ISDS, as a dispute resolution mechanism based on bilateral treaties, multilateral treaties, and free trade agreements. IA is lauded as the best method for dispute resolution in international trade. This…

Arbitration Awards, Arbitration Proceedings, Enforcement, National Courts, New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards

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The New York Convention’s 60th Anniversary renewed the debate about its future. One must recognize that a treaty that is sixty years old and has been ratified in almost 160 countries can no longer be replaced. Even with compatibility clauses, provisions that would provide for retroactive application and the other tools that the Vienna Convention…

Arbitration, Arbitration Awards, Enforcement, New York Convention

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What Is the Future of the New York Convention as a Primary Means for Enforcement of Arbitral Awards Across the Globe? Is There Any Future at All?1)UNCITRAL will be having several celebrations in June. At these occasions, thought leaders will reflect on the last 60 years and give their prognoses on the next 60 years….

Achmea, Arbitration, Arbitration Awards, BIT, Enforcement, European Law, European Union, International arbitration, Intra-EU BITs, Investment Arbitration, New York Convention

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The world after the  Achmea v Slovakia decision focuses on the question about the future of ISDS in relation to intra-EU BITs. At the ASIL conference on the 6 April 2018, a representative of the EU observed the decision in the Achmea case as one that was perhaps a natural consequence of the intricacies of…

Enforcement of an award that was set aside

(Albright StoneBridge Group)/ /3 Comments

On the 24th of November, the Supreme Court of The Netherlands issued a judgment pertaining to the request for enforcement of an award annulled at the seat, Russia. The Supreme Court applied Article V(1)(e) of the New York Convention (hereinafter the “NYC”) and refused to enforce the award in favor of Nikolay Viktorovich Maximov for…

Arbitration, Arbitration Awards, Enforcement, Enforcement of an award that was set aside, UNCITRAL Arbitration Rules, United States

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The US Court of Appeals for the 2nd Circuit’s Thai-Lao Lignite (Thailand) v. Government of the Lao People’s Democratic Republic The friction between a seat and an enforcement forum, i.e. between annulment and enforcement continues. An arbitral award in the Thai-Lao Lignite (Thailand) v. Government of the Lao People’s Democratic Republic case (“Thai Lao Lignite…

Arbitration, Enforcement, Enforcement of an award that was set aside

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Under Article V(1)(e) of the 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“The New York Convention”), a court presented with an action to enforce an arbitral award “may refuse” to enforce the award “only if” the opposing party can prove that an award “has been set aside or suspended…

Enforcement, forum non conveniens, New York Convention

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The 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“New York Convention”) is the engine that makes international arbitration an effective mechanism to resolve disputes. The purpose of the New York Convention is to encourage and simplify the recognition and enforcement of foreign arbitral awards. In the case of Figueiredo…

Uncategorized

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In August 2013, Judge Hellerstein of the US District Court for the Southern District of New York granted the enforcement of an award rendered in Mexico between Comissa (Corporación Mexicana De Mantenimiento Integral, S. De R.L. De C.V.) and PEMEX (Pemex‐Exploración Y Production) in favor of Comissa awarding it $300 million; an award that had…

Arbitration, Arbitration Agreements, Enforcement, International arbitration, New York Convention

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The 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“The New York Convention”) is the engine that makes international arbitration an effective mechanism to resolve disputes. The national courts of each signatory state give meaning to the New York Convention’s terms by rendering decisions interpreting the text of the document….

New York Convention, Vienna Convention on the Law of Treaties

(Albright StoneBridge Group)/ /1 Comment

The 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“The New York Convention”) is an international instrument: a treaty between 156 States. It is interpreted on the basis of the Vienna Convention on the Law of Treaties (“The VCLT”). The VCLT is further defined in this post with a useful…

Best practices

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The Young ICCA’s Workshop on “The Art of Persuasion” brought together, from all parts of the world, a future generation of arbitration lawyers and the reunited outgoing and incoming presidents of ICCA: Professors Jan Paulsson and Albert Jan van den Berg. Who else would be better to divulge on the subject of persuasive advocacy? The…

Arbitration Agreements, Arbitration Awards, New York Convention

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*The Miami Draft was originally called ‘the new NYC: a hypothetical draft’ by its drafter Albert Jan van den Berg, subsequently dubbed ‘the Dublin Convention’ at the occasion of the ICCA conference in Dublin 2008 and finally, echoing the influential 1961 “Harvard Draft” on the responsibility of States, renamed ‘the Miami Draft’ when re-presented by…