In his “Kiev Arbitration Days” after-dinner speech in November 2012 (“BITS, BATS and BUTS”), Gary Born presented a suggestion that can leave no one indifferent (speech published as “Essay” by Young Arbitration Review, March 2014 Edition). His idea is to take advantage of the legal framework and experiences gained from the world of investment arbitration and bring that framework and those experiences into international commercial arbitration.
Simply put, investment arbitration stems from Bilateral Investment Treaties, which grant foreign investors the right to arbitrate disputes arising from an investment, carried out in the territory of a contracting state, against that host sta [...]
In the Justice Stream of Monday, 7 April, a panel of representatives from various arbitral institutions started by addressing the premise as to whether “Arbitral Institutions Can Do More to Further Legitimacy.” They finished grappling with a potential extension of this premise to its outer limits.
For many users of the arbitration process, the institution can be the source of scorn, praise, and mystery, depending on the context of the case and the client’s response to the decisions rendered. Many times, the institution comes under fire for an arbitral appointment, its handling of a preliminary procedural question, and its role in educating and promoting arbitration. Indeed, some of thi [...]
and Niyati Gandhi
A done to death topic in arbitration gatherings in emerging markets, particularly in India, is the debate about ad hoc versus institutional arbitration. The basic arguments in favour and against both have been discussed time and again. However, renewed support for institutional arbitration can be found in two recent judgments from the courts in India arising out of ad hoc arbitrations.
Recently, in the much hyped ruling in Union of India v Panacea Biotec (Panacea), Justice Vipin Sanghi of the Delhi High Court passed an order terminating the mandate of an arbitral tribunal in accordance with the mutual consent of the parties. The parties had collectively moved the court to [...]
The applicant, Darie Engineering (Darie), and the first respondent, Alstom Transport SA (Alstom), had a business relationship spanning over 20 years in which Darie acted as Alstom’s representative in the transportation sector in Israel. Darie filed an action against Alstom and the second respondent, Alstom Israel Ltd. (the Respondents), in the Israeli District Court, alleging that Alstom was unjustly enriched at Darie’s expense and claiming compensation for commissions allegedly owed to it by the Respondents for certain projects. Darie submitted with its statement of claim nine contracts, all of which contained an arbitration clause providing for ICC arbitration in Switzerland or F [...]
By Peter Godwin, Elaine Wong and James Allsop, Hebert Smith Freehills
The Japan Commercial Arbitration Association (“JCAA”) has introduced an amended version of its Commercial Arbitration Rules (the “New Rules”). The New Rules, which contain comprehensive amendments, came into force on 1 February 2014 and will apply to all arbitrations initiated on or after that date. The changes are intended by the JCAA to update its rules in line with recent trends in the amendment of arbitration rules (such as the 2013 amendments to the Hong Kong International Arbitration Centre (“HKIAC”) and Singapore International Arbitration Centre (“SIAC”) Rules). Accordingly, the New Rules contain provisions aimed at [...]
Under the direction of the Swiss Arbitration Association (“ASA”), a recent questionnaire asked 82 of the world’s most prestigious arbitral institutions, among other questions, whether they had insurance for professional liability claims. There are very few empirical studies in this area, but the survey indicated that only few institutions made an effort to answer; and for the 22 of institutions that did respond, the responses came from major international arbitration institutions. The data collected was noteworthy. Over half of the institutions responding identified that they had insurance for liability claims against the institution. The study also identified that arbitral institutio [...]