A ruling issued on the 9th April 2015 by the International Centre for Settlement of Investment Disputes (ICSID) rejected a case brought by a Slovak bank and its shareholders against the 2012 PSI bond ‘haircut’ in Greece via the activation of Collective Action Clauses (CACs) (the award is available here). Poštová banka (a Slovakian bank)…
The views expressed in this article are those of the author alone and should not be regarded as representative of, or binding upon ArbitralWomen and/or the author’s law firm. Arbitration in the Arab World is a hot topic these days. Over the past few decades the Arab World has become a region at the forefront…
On May 26, 2015, the law containing the amendments to the Brazilian Arbitration Act (BAA) was finally enacted (Law n. 13,129/2015), almost 20 years after the publication of the BAA. It will soon enter into force, on 27 July 2015. Though Law n. 13.129/15 amended certain provisions of the BAA and introduced some innovations, it…
Vienna can be a confounding place for an outsider. In one moment, the city projects itself confidently into an innovative, international future and yet in the next moment can appear irrevocably bound to traditions. Being forward-minded in dispute resolution, Vienna is host this week to the IBA-VIAC International Mediation and Negotiation Competition, a four-day event…
The 27th Annual Workshop of the Institute for Transnational Arbitration (“ITA”), which took place on June 17-18 in Dallas, Texas, examined “Subconscious Influences in International Arbitration”. The Workshop was organized by co-chairs José Astigarraga of Astigarraga Davis (Miami), Professor Margaret Moses of Loyola University Chicago School of Law (Chicago) and Luke Sobota of Three Crowns…
When the English Arbitration Bill was being debated in early 1996, a controversial issue considered was whether to retain a right of appeal on a point of law. Contrary to a number of civil code jurisdictions, the right was retained under English law, albeit in limited form and with the option to “opt-out”. A key…
On May 22, the new General Organic Code of Processes (GOCP) was enacted (Official Register Supplement N. 506). Excluding constitutional, electoral and criminal matters, the GOCP will regulate all judicial procedures in Ecuador. It is a long expected and generally very welcome reform in the Ecuadorian judicial system. It replaces an outdated spaghetti bowl…
This was the title of one of four sessions comprising the dispute resolution module held as part of the fifth Institute for Energy Law (IEL) and IBA Section on Energy, Environment, Natural Resources and Infrastructure Law (SEERIL) International Oil and Gas conference, which took place in London on 3-5 June 2015. The dispute resolution module…
Thanks to the Kluwer Arbitration Blog editors for this chance to weigh in on the ISDS debate. I have been a frequent critic of the existing ISDS system, but I take a different approach than many other opponents. For me, the discussion should focus on two main issues, one related to access to international rights…
On 27 July 2015 the Bill amending to the Brazilian Arbitration Law will come into force, introducing significant changes in the arbitration legal framework, which, according to the stated purpose of the amendments, aim at improving the original Brazilian Arbitration Law, enacted in 1996. The amendments attempt to consolidate established practices as well as settling…
Accentuate Ltd v. ASIGRA Inc. [2009] EWHC 2655; Fern Computer Consultancy Ltd v Intergraph Cadworx & Analysis Solutions Inc [2014] EWHC 2908 (Ch) In 2009, a senior libel judge sitting in the English High Court held that an arbitration agreement was “null and void” or “inoperative” because it purported to apply a foreign law which…
On May 26, 2015, Brazil signed its third investment treaty of 2015 with Mexico. Given the agreements previously signed with Angola and Mozambique, this certainly comes as a confirmation of a new Brazilian attitude towards the regulation of foreign investment. The instrument mostly follows the same model used for the previous two: a Cooperation and…
Introduction As reported by Clyde & Co for the Kluwer Arbitration Blog on 12 January 2015, the Singapore High Court released its decision in PT Perusahaan Gas Negara (Persero) TBK v CRW Joint Operation (Indonesia) [2014] SGHC 146 relating to PT Perusahaan Gas’ (PGN) unsuccessful appeal of an interim arbitral award made in favour of…
No doubt that the last three years have been quite busy for the Energy Charter Treaty (ECT) and for the Energy Charter Conference. The number of investor-state arbitration cases under Article 26 of the ECT doubled in this time span, going from thirty known cases to sixty-eight (as reported on the website of the Energy…
The controversial dispute between the Ecuadorian government and the multinational corporation Chevron arose from the operations undertaken by Texpet –a subsidiary of Texaco at that time- on the country’s Amazon region during the eighties. Texpet was the operator undertaking the exploration and exploitation of hydrocarbons in association with Petroecuador, formerly CEPE, the state-owned oil company…
Ad hoc arbitration, in which the proceedings are administered by the disputing parties, their counsel and the arbitral tribunal without the involvement of an arbitral institution, can perhaps seem a daunting prospect in any jurisdiction. Thailand has arbitral institutions on hand to provide their services — including the well-established Thai Arbitration Institute (“TAI“) and the…
The National Commercial Arbitration Centre of the Kingdom of Cambodia (“NCAC”) was conceived in 2006, when Cambodia’s Commercial Arbitration Law entered into force. The initiative to create the centre surfaced as a part of Cambodia’s attempt to attract foreign investment on the one hand and to offer a viable alternative to domestic litigation to local…
Party autonomy is a well-established cornerstone of arbitration, which treats the parties as the true creators of the arbitral procedure. Hybrid arbitration clauses are built on this cornerstone. In a certain type of hybrid arbitration clause, the parties place the administration of arbitration in the hands of one arbitration institution by using the rules of…
Ever since the EU started to develop its investment policy, anti-ISDS groups started an unprecedented campaign. Indeed, on the very same day (7 July 2010) the European Commission published its first Communication on the EU’s investment policy, the anti-ISDS groups had a 100 page publication ready calling for the dismantling of international investment arbitration. Since…
Prior to 2012, India faced widespread criticism from the international arbitral community over a series of judgments concerning arbitration. Much has changed since 2012 – in the post-Bharat Aluminium (“BALCO”) era. A pro-arbitration approach by the judiciary was reflected in a series of judgments that came after the BALCO judgment, such as Reliance Industries (Reliance…
Co-Authored with Hanna Shalbanava (Sysouev, Bondar, Khrapoutski) According to paragraph 1.2.2. of the Guidelines for Arbitrators on how to approach the making of awards on interest adopted by the Chartered Institute of Arbitrators “an arbitrator should make an award or awards of interest to cover two distinct periods (a) the period up to the date…
Keeping abreast of Australia’s stance on ISDS can be a confusing exercise. Australia’s approach to investor-state dispute settlement (ISDS) continues to be hotly debated in the wake of recent revelations by Wikileaks that the investment chapter of the Trans-Pacific Partnership (TPP) is likely to include ISDS provisions. The Australian government’s stance on ISDS has undergone…
and Katherine Bell, Schellenberg Wittmer In 2014, the Swiss Supreme Court rendered 32 decisions on petitions to set aside international arbitral awards. Consistent with a traditionally low success rate, the Supreme Court granted only 4 of the 32 petitions. One of these four petitions was considered in a French-language decision dated 7 April 2014 (Decision…
The facts of the situation are simple: the claimant goes to the domestic courts and the defendant argues that there is an arbitral agreement. The court judge upholds the jurisdictional objection and refers the parties to arbitration but, once the arbitration proceedings are over, the claimant party appeals to have the award annulled on the…
