and Julia Popelysheva, Clifford Chance LLP Introduction On 19 June 2012 the Presidium of the Supreme Arbitrazh Court of the Russian Federation (“SAC RF“) issued a decree (“Decree“) in case No. VAS-1831/12 in which it examined the validity of an optional jurisdictional clause. The full text of the Decree setting out the rationale for the…

As explored in some detail in Part I of this blog post, recent UAE supervisory court case law has heralded a new era of enforcement of international awards in strict compliance with the 1958 New York Convention on the Recognition and Enforcement of Foreign Awards (the “New York Convention”). To recap, the Maxtel line of…

In recent years, Canada has an enjoyed a reputation as an arbitration-friendly country. This is due to a number of factors, including the incorporation or adaptation of the Model Law into the arbitration legislation at the provincial and federal level, a sophisticated arbitration community well versed in both the common and civil law traditions, and,…

On 17 July 2012, the Privy Council (UKPC 27) passed a landmark judgment of relevance for creditors of States seeking to enforce against the assets of State-owned corporations. The Privy Council held that only in ‘quite extreme circumstances’ would a State-owned corporation (a separate juridical entity formed by the State for commercial or industrial purposes)…

The Permanent Court of Arbitration (“PCA”) has played key role in the resolution of international disputes for well over a hundred years now. Over the past decade, however, the PCA’s importance and activities have significantly increased. Thirty-five investor-state arbitrations under bilateral or multilateral investment treaties or investment laws are currently pending at the PCA, in…

The situation of a truncated arbitral tribunal may be caused by various factors. It may arise when a three-member tribunal during the course of the arbitral proceedings and before the rendering of the award does not remain the same at some point, meaning that one of the members of the tribunal dies, resigns or fails…

On June 25th, 2012 the United States Court of Appeals for the Eleventh Circuit, which covers all federal appeals emanating from the states of Florida, Georgia and Alabama, decided that a private commercial arbitration tribunal in Ecuador used by the parties to resolve a commercial dispute is a ‘tribunal’ for purposes of the collection of…

The Executive Committee and Academic Council of the Institute for Transnational Arbitration (ITA) are proud to announce that the second annual ITA Winter Forum will take place in Miami on January 24-25, 2013. Building on its successful launch in 2012, the Winter Forum will provide a unique opportunity for the exploration of scholarly papers and…

I was asked the other day whether I would recommend that the United States not only ratify the U.N. Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea—known as the “Rotterdam Rules”—but also adopt optional chapters 14 and 15 on the jurisdiction of courts and arbitration.1)As of June 2012 twenty-four…

On 1 June 2012, the new revised version of the Swiss Rules of International Arbitration (“Swiss Rules”) will come into force.  According to Article 1.3, the new Rules will apply to all Swiss Rules proceedings in which the Request for Arbitration is submitted after 1 June 2012, unless the Parties agree otherwise. The Swiss Rules…

For almost 20 years, Mexico has been at the forefront of Latin-American arbitration practice. It has been widely recognized both in terms of the quality and sophistication of its practitioners, its modern legal framework (since 1993 based on the UNCITRAL Model Law on International Commercial Arbitration) and for its arbitration friendly judiciary. According to statistics…

A central concern the in the third party funding arena is: Whether or not parties who are funded by a third party funder should be obligated to disclose this funding relationship. Looking at a recent conference in which many key funders participated on sharing their perspectives, it appears that many funders preferred to keep their…

This is the third and final article in a three-part series summarising the main valuation methodologies used for the purposes of determining economic loss. In parts one and two, I provided an overview of the market-approach and income-based methodologies. I now conclude by reviewing the asset-based approach. To what extent, if any, is the sum…

The Dutch Ministry of Security and Justice has launched a consultation on the revision of the Dutch 1986 arbitration law. See here. For an informal English translation of a comparison with the current Dutch arbitration law, see here. The consultation will be open until 1 June 2012. It is anticipated that the legislative proposal will…

International arbitration has long played an important role in resolving disputes that arise out of political and economic crises.   “Arbitration in Times of Crisis” is the theme of the 9th Annual ITA-ASIL Conference on 28 March 2012 in Washington, D.C. (see program).   The conference will focus on lessons from the past use of arbitral mechanisms…

Recent events in Romania have added a new twist to the debate on party-appointed arbitrators after an arbitration institute centralized the power to appoint arbitrators in one person and decided to remunerate the individual. By now, arbitration practitioners should be well aware of the arguments for and against party-appointed arbitrators. There is little to add…

This is the time of year when law students and young lawyers begin to apply for their summer internships or jobs in international dispute resolution. Many – probably most – will carefully draft their curriculum vitae to show their serious commitment to relevant academic studies, experience in international disputes or with law firms, and participation…

A commentary on the OECD Competition Commission conclusions on using arbitration to effectively resolve competition law disputes By Francesca Richmond and Sarah West There has been increasing use of arbitration to resolve disputes involving competition law issues in recent years. However, it is surprising that the number is not even greater given that arbitral processes…

It has become fashionable in recent years, each time an ICSID annulment decision is released that takes issue with the procedures or reasoning of an ICSID tribunal, for commentators to bemoan the lack of certainty, predictability and finality that this reflects in the ICSID system for adjudicating investment treaty disputes between investors and host States….

Following the path of the hotly debated West Tankers decision, in African Fertilizers v BD Shipsnavo, the English Commercial Court held that a declaratory award is enforceable, allowing judgment to be entered on the same terms as the arbitral award. Such an order enables a party to obtain the material benefit of the award and…

This is the second article in a three-part series summarising the main valuation methodologies used for the purposes of determining economic loss. In part one, I provided an overview of the market-approach methodology. I now turn to the income-based approach, focusing on the discounted cash flow (DCF) methodology. In my previous article, I noted that…