A judgment of the European Court of 17 October 2013 (C-184/12) honors gold plated provisions when considered mandatory. Member state courts are allowed to consider their national gold-plating (the practice of implementing rules tougher than the minimum required by the EU) as being of overriding mandatory character.
In 2005, Unamar, a Belgian commercial agent, and NMB, a Bulgarian principal, concluded a commercial agency agreement for the operation of NMB’s container liner shipping service. The agreement provided that it was to be governed by Bulgarian law and that any dispute relating to the agreement was to be determined by the arbitration chamber of the Chamber of Comm [...]
In a recent decision in the long-running Astro v. Lippo dispute,1 the Singapore Court of Appeal (the “Court“) grappled with the question of whether an unsuccessful party to an international arbitration award rendered in Singapore (a “domestic international award“) can choose to wait and invoke a passive remedy only in response to enforcement proceedings at the seat.
The judgment confirms Singapore’s commitment to the philosophy of “choice of remedies” contained in the UNICTRAL Model Law (the “Model Law“). Parties to international arbitrations seated in Singapore therefore have the option to choose whether to make an active challenge to an award or instead wait until the award is sought to be [...]
The “contribution of assets” requirement of the Salini test was often overlooked by commentators and tribunals, probably due to its “I-know-it-when-I-see-it” nature. The recent award in KT Asia Investment Group B.V. v Republic of Kazakhstan, however, demonstrates that a failure to meet the contribution requirement may put to rest a claim of an offshore company used to conceal the identity of its owner.
It is widely recognized that under Article 25 of the ICSID Convention an investment must involve a “contribution” of assets. As explained by Douglas (para. 273), the prior contribution of assets into the economy of the host state is a natural quid pro quo for the state to accord th [...]
A new version of the so-called “Vienna Rules” came into force on 1 July 2013. Due to practitioners’ broad acceptance of the Vienna Rules 2006, changes were made only with regard to specific matters. The major focus of the amendments lies on expediting the arbitration proceedings and addressing cost-related issues.
A group consisting of both academics and practitioners worked approximately one and a half years on revising the Vienna Rules 2006. To evaluate where a need for improvement existed, VIAC launched an international survey which established that both the flexibility and simplicity of the Vienna Rules use were highly appreciated in pra [...]
The objective of this post is to help in-house and outside counsel communicate better with each other when addressing the topic of international commercial arbitration. While both may be (highly) conversant on the topic, the perspectives of each are potentially very divergent and true communication between them may be incomplete and ineffective. My desire here is to help bridge the communications gap – with a four letter word no less. The idea is to provide common ground for communicating about disputes and how to best manage them. If done right, the end-user client is better served.
1) Competing approaches
The adage “Where you stand is where you sit” may have no better application [...]
This article argues for the inclusion of synopses in arbitral awards, particularly ICSID awards which tend to be widely publicized and often exceed 100 pages in length, and in some cases, 300 pages. As international investment disputes continue to “mushroom” (UNCTAD, 2012), it is important for the arbitration community to think of ways to maximize efficiency and reduce costs.
The practice of providing case summaries is not new. Indeed, the inclusion of prefatory syllabi1 in US Supreme Court decisions dates back to 1798.2 In essence, the syllabus operates as an executive summary or abstract of the opinion, outlining the key facts of the case, procedural posture of the proceedings and [...]