It is well known that Greek public finances have been in a precarious state since the country’s debt crisis erupted in 2010. In an environment of tough fiscal consolidation, compensation awards running in millions present a significant economic and political challenge. This post discusses a case before the Greek Supreme Court that resulted in a…

In the landscape of international investment arbitration the allegations of corruption have become more and more common. Confronted with investor’s claims before an arbitral tribunal, host states employ all possible legal arguments available to avoid potential liability and the subsequent payment of compensation. Investor’s corrupt acts have emerged as a potentially viable state defense in…

In 2013 the President of the Russian Federation Vladimir Putin announced in his annual message to the Council of the Federation: “I would like to attract your attention to one more problem – the mechanisms of commercial dispute resolution are still not as good as the global practice is, and it is necessary to raise…

In a recent decision, the United States Court of Appeals for the Second Circuit considered Pemex’s allegations insufficient to sustain RICO jurisdiction in the Conproca vs. Pemex case. This prompts out a number of interrogations: Was the bar set too high for Pemex to sustain RICO Jurisdiction? Was the underlying reason of the Court’s decision…

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…