The Asian economy is considered an engine of global economic growth, accounting for almost two-thirds of forecasted global economic growth for 2016.1)“Asia: Growth Remains Strong, Expected to Ease Only Modesty”, International Monetary Fund Survey Magazine, 3 May 2016, http://www.imf.org/external/pubs/ft/survey/so/2016/CAR050316B.htm. Over the last decade, the flows of foreign investment into and out of Asia have consistently…

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)BIT between Pakistan and Germany dated 25 November 1959. and of the estimated 2,750 BITs that exist today,…

In two recent decisions, Banyan Tree v. Meydan Group LLC (Case No. ARB 003-2013) and X1 and X2 v. Y1 and Y2 (Case No. ARB 002-2013), the DIFC Court of First Instance (H.E. Justice Omar Al Muhairi and Sir John Chadwick respectively) confirmed its jurisdiction to recognise and enforce within the DIFC arbitral awards rendered…

In Honeywell v Meydan Group LLC ([2014] EWHC 1344 (TCC)) the High Court in London upheld a DIAC award against the owner of the Meydan Racecourse in Dubai, rejecting allegations that the underlying contract was procured through bribery. The decision is just one of a number of claims arising out of the construction of the…

If the answer is London, Paris, Geneva, New York, Tokyo and Singapore, what is the question? International cities? Fashion hot spots? Location of Manchester United supporters’ clubs? It may well be the answer to all three questions (although I confess that I have not actually checked the Manchester United one), but they are also the…

One of the oft quoted advantages of arbitration is the perceived certainty that the national courts of New York Convention states should enforce an arbitral award unless one of the limited grounds for refusal is met. However, the relationship between national courts and arbitration is far from straightforward. In particular, one notable area where there…

In 1961, three years after the adoption of the New York Convention, the European Convention on International Commercial Arbitration was adopted in Geneva (the Geneva Convention). At the time, the Geneva Convention was noteworthy as being the first international instrument to refer to “international commercial arbitration” by name. Today, however, many practitioners give little consideration…

The scope of Most Favoured Nation (MFN) clauses in bilateral investment treaties (BITs) has been a source of rich debate for many years. In sum, the debate centres around whether MFN “treatment” includes only substantive rules for the protection of investments, or if it also extends to procedural protections such as dispute resolution. There have…