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Multilateral Investment Treaties in the MENA Region: The Next Big Thing?

The nation states of Middle East and North Africa (MENA) have long been active participants in the world of international investment protection and arbitration. Pakistan was a signatory to one of the first ever Bilateral Investment Treaties (BITs)1 and of the estimated 2,750 BITs that exist today, 622 (approximately 22%) are with a MENA state;2 this figure is commensurate with a number of other regions such as Latin America and the Caribbean (18%) and South East and Eastern Europe (23%).3

There is also a myriad of intra-MENA treaties. There are estimated to be at least 81 intra-MENA BITs (although only 29 are in force)4 and, perhaps most interestingly (at least in the context of this blog), [...]

Upholding Delocalized Enforcement of ICSID Awards

In Mobil Cerro Negro, Ltd., et al v. Bolivarian Republic of Venezuela, a New York federal district court rejected Venezuela’s sovereign immunity challenge and upheld use of an ex parte procedure available under New York law to convert an ICSID award into a U.S. court judgment. The decision highlights the delocalized nature of ICSID awards and illustrates how ICSID award creditors are increasingly resorting to judicial enforcement. The decision also promotes New York’s reputation as a creditor-friendly jurisdiction at a time of controversy in Europe over the consistency of an intra-EU ICSID award with EU policy.

Typically, enforcement of an arbitration award against a foreign state is sub [...]

Conference report on Wendy Miles’ keynote speech at the YAF/YAPP conference in Vienna (28 March 2015): “The Role of Young Arbitrators in the Rule of Law”

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.

This year, Wendy Miles delivered the keynote speech at the YAF/YAPP Annual Conference on the second day of the Vis Moot. Attuned to the audience, the speech began with a note of encouragement and ended on a counterpoint of responsibility: though the future belongs to the young arbitrators, they are entrusted with nothing less than the future of the rule of law.

Following a prelude that traced the origins of the rule of law, from the Magna Carta of 1215 to various human rights instruments adopted over the centuries, [...]

About the Ostrich, the Micula Brothers and other European Fables

 ‘By putting its head in the sand, the ostrich can see no problems, and if it can’t see any problems, they don’t exist”[1]

To what extent can legal systems differ? Can these differences be legitimate enough to collapse a “conflictive” legal system? These two ambitious questions are difficult to be answered in one go, and are rather susceptible to being answered differently. Regardless of the legal context and origin of the given answers, only one general rule should apply: no ostriches are allowed. And please allow me to explain what I mean by that.

By burying its head in the sand, the ostrich limits itself to internally scrutinise a broken view, this action hinders the ostrich [...]

Launch of the first extensive commentary of the CAS Rules by Despina Mavromati & Matthieu Reeb


The Court of Arbitration for Sport (CAS) is pleased to host a launch for a new book by Despina Mavromati & Matthieu Reeb, “The Code of the Court of Arbitration for Sport: Commentary, Cases and Materials”.

The book comprehensively analyses the rules of the CAS Code within the more general context of international arbitration. Each provision is supplemented by relevant doctrine, case law and materials from internal CAS practice.

The authors will shortly present the book, followed by an open discussion with the participants and an aperitif. The book can be ordered directly from Kluwer at

The book launch will take place on Wednesday 6 May 2015 in Lausanne and is by invita [...]

Arbitration of Cross-Border M&A Disputes

In recent years, the mergers and acquisitions (M&A) market has shown steady signs of recovery from the effects of the Global Financial Crisis. According to a survey of over 735 M&A professionals recently conducted by KPMG, 82% of survey participants said they were planning acquisitions in 2015.  Respondents cited large cash reserves, opportunities in emerging markets and the availability of credit on favourable terms as some of the key drivers of deal activity.  Research conducted by Deloitte in 2014 suggests that a surge in deal activity is set to continue into 2015.  84 per cent of 2,500 corporate and private equity respondents anticipated a sustained pace of M&A activity over the next [...]

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