In its judgment rendered today, the Court of Justice has quashed the General Court’s decision having ruled that the European Commission was not competent ratione temporis to assess whether the compensation paid by Romania to the Micula brothers, in implementation of a 2013 ICSID award rendered under the 2002 Sweden-Romania BIT, was constitutive of state…
Looking back on 2021, one realizes that for those interested in the intersection between EU law and investment arbitration, it was a busy year. As part of our customary “year-in-review” series, this post offers a brief overview of the key investment arbitration-related developments in Europe and their coverage on the Blog. I have grouped these…
As the climate crisis has intensified, much has been said about the roles that arbitration can play in the collective global response – including during the recent BVI Arbitration Week, which coincided with the Glasgow climate conference. Arbitration has been utilised as a tool for resolving disputes as market mechanisms have developed to deliver greenhouse…
As previously reported, in mid-2020, changes were enacted to the Russian Arbitrazh (Commercial) Procedure Code (“APC”) to establish the exclusive jurisdiction of Russian Arbitrazh courts over cases where a Russian party is subject to sanctions or where the dispute has arisen out of sanctions. This triggered concerns that sanctioned Russian parties would be able to…
As part of the complex set of reforms that Italy presented to the EU institutions to access the Next Generation EU program, the Italian Parliament recently approved Law No. 206/2021 (“Law 206”). Among other things, Law 206: (i) establishes “principles and directions” aimed at enhancing the “efficiency of civil proceedings and amending the rules concerning”…
In 2021, East and Central Asia witnessed some noteworthy developments in domestic legislation, jurisprudence, and efforts to enhance the standing of arbitral institutions and seats in the region. There have also been developments in trade/investment agreements and investor-State claims in the region. In this post, our East and Central Asian editorial team reviews this progress…
This is the third consecutive year that we, either together or separately, have reported on trends at the intersection of human rights and international arbitration from the prior year (see prior Blog coverage here and here). As we emphasized last year, the effects of the COVID-19 pandemic on this intersection are likely to remain a…
“If they can’t do it in California, it can’t be done anywhere.” – Novelist Taylor Caldwell From its sunlit beaches to its fog-spangled hills, California hosts the world’s fifth largest economy, boasting among its accomplishments Hollywood entertainment, Silicon Valley technology, and Central Valley agricultural produce. In addition to its strong trade ties within the…
In 2021, Latin American countries continued to struggle with the adverse effects of the COVID-19 pandemic. Accordingly, legislative and jurisprudential developments on arbitration-related issues were also affected given that the governments were focused on reactivating local economies, vaccinating their citizens, and launching tax and labor reforms. In addition, presidential elections also marked political shifts for…
The United Arab Emirates (“UAE”) adhered to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the New York Convention (“New York Convention”) in 2006. Joining the New York Convention was done through Federal Decree No. 43 of 2006. This post examines how the New York Convention has been implemented…
Last year saw positive movements in Australia, New Zealand and the Pacific Islands to better promote the use of arbitration in the region. Arbitral institution rules were modernised and domestic legal frameworks were introduced all to stimulate arbitration activity. The year also saw a sharp focus on the benefits of empirical studies to understand how…
Once upon a time, not so long ago, the two legal orders of on the one hand, international investment law (i.e., International Investment Agreements (IIAs) and investor-State arbitration provisions (ISDS)), and on the other hand, EU law, were peacefully co-existing next to each other with only occasional contact. Indeed, it was the time when the…
In 2011, in an article titled ‘W(h)ither Fragmentation? On the Literature and Sociology of International Investment Law’, Professor Stephan Schill reflected on the prior decade of scholarly and practical developments in international investment law (IIL). He referred to the boom in specialised scholarship and the more than 400 investor-State disputes then in existence as reasons…
Globalization has diversified the actors, institutions, norms, and instruments on the international legal stage. With diversification comes increased specialization and, in turn, organization around so-called regimes. The notion that international legal regimes can exist autonomously has long been refuted; indeed, each regime draws from general international law to some degree. If regimes are not autonomous,…
Nearly 30 years have passed since world leaders signed the UN Framework Convention on Climate Change (“UNFCCC”), agreeing to combat “dangerous human interference with the climate system.” For many of those years, nobody seemed to take that commitment very seriously. But things look different now: climate law has hit its stride. At COP26 in November…
This post deals with the conceptual underpinnings and theoretical justification for the practice of counterclaims in investment arbitration. First, it is important to delineate this post from an analysis of counterclaims case-law in investment arbitration, as ample accounts of the counterclaim debate in practice can be found here, here, and here. Equally, this post does…
Debates about the fragmentation of international law and the sometimes conflicting relationship between a state’s and investor’s obligations under international investment law (“IIL”), on the one hand, and public international law and domestic law, on the other, have gained renewed relevance for investment arbitration. Issues related to the interactions between these regimes have featured in…
In most cases, arbitrator selection follows a basic 3-step process: (1) Start with a Long List of Potential Arbitrators; (2) Pare it down to a Short List of Suitable Arbitrators; and then (3) Pick The Arbitrator to appoint. At first, research is very broad. Parties focus on fundamental elements of the case, such as applicable…
Bilateral investment treaties depend upon international arbitration as the mechanism to resolve disputes between sovereign states and investors. Although offering obvious advantages over litigation before national courts, investors are not immune from the risk of proceedings becoming destabilized by external factors. A recent example involved Air Canada, the country’s flag carrier, and the Bolivarian Republic…
The Center for Studies and Research in Arbitration from the University of São Paulo (“CEPArb-USP”) has recently made public the findings of its pioneer empirical research on challenges of arbitrators in domestic proceedings in Brazil. The initiative analyzed data from challenges in proceedings administered by the Câmara de Mediação e Arbitragem Empresarial – Brasil (CAMARB)….
On 15 November 2021, P.R.I.M.E. Finance launched its revised P.R.I.M.E. Finance Arbitration Rules (the Rules). A launch event was held on 6 December at which Georges Affaki, Martin Doe of the Permanent Court of Arbitration (PCA) and Secretary-General of P.R.I.M.E. Finance Kasper Krzeminski gave an overview of the Rules. A recording is available here. P.R.I.M.E….
Subscribers to KluwerArbitration.com enjoy access to the ICCA Yearbook Commercial Arbitration. The final upload of materials for the 2021 volume of ICCA’s Yearbook Commercial Arbitration is now available on the KluwerArbitration website. The upload consists of a selection of six awards rendered under the rules of the International Chamber of Commerce (ICC), dealing with issues such as the…
“Pedro, adelante, con juicio“: this Spanish exhortation comes from a famous Italian novel, “I Promessi Sposi” by Alessandro Manzoni. The Spanish governor of Milan gives these ambiguous instructions to his coachman Pedro, who is steering the carriage amidst a rioting mob: “forward, but be careful“. It became proverbial for describing an uneasy balance between action…
The year 2021 has been perhaps the most controversial year for investment arbitration. From the profound structural reform work with respect to the ICSID and UNCITRAL rules, through the complete ban and termination of intra-EU investment arbitration in the European Union, to the ECT modernization process, this year has been marked by change and reform…
