On Tuesday, 10 January 2012, a Constitution Bench of the Indian Supreme Court began hearings in Bharat Aluminium v Kaiser Aluminium (Civil Appeal No. 7019 of 2005) and related matters to reconsider its earlier judgment in Bhatia International v Bulk Trading SA, (2002) 4 SCC 105 (“Bhatia”). In Bhatia, the court held that the Indian…
In the summer of 2009, an ICSID tribunal ruled that various orders of the Bangladeshi courts that cumulatively denied Saipem (an Italian company) the benefits of an ICC award made in its favour constituted an unlawful expropriation of its investment. It held that the investor was entitled to compensation based upon the value of the…
Such a makeover will certainly not be achieved in sixty minutes. Sixty days will not nearly be enough. One would not, however, have to be too audacious to hope that India can reinvent itself as an arbitration-friendly part of the world in sixty months. From its early years as a newly independent, fledgling democracy, India…
