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The first arbitral awards over the matter arising out of the Argentine financial crisis 2001/2002 are prominent for their contradictory outcome (see in particular CMS v Argentina , Sempra v Argentina , Enron v Argentina on the one hand, and LG&E v Argentina on the other hand). What to Expect for Future Cases?
On the one hand, new technological tools will mean an increasing number of technological issues in disputes from all industries, and a corresponding demand on practitioners and arbitrators to efficiently deal with such issues to maintain arbitration as a preferred means of dispute resolution.
When Voltas eventually demanded payment from York pursuant to the 2014 Award, York refused to make payment, contending that there was insufficient evidence that the sum was paid to the third party. In 2020, Voltas sought a further award from the arbitrator on whether this sum was payable.
Relevant Background According to the award , in 2001, Colombia adopted its Mining Code (Law 685), which provides that mining rights are vested if (i) a mining title exists, (ii) an environmental license is issued, and (iii) a Mining Works Program (“PTO”) has been approved. We do not discuss the tribunal’s jurisdictional reasoning.
Relevant Background According to the award , in 2001, Colombia adopted its Mining Code (Law 685), which provides that mining rights are vested if (i) a mining title exists, (ii) an environmental license is issued, and (iii) a Mining Works Program (“PTO”) has been approved. We do not discuss the tribunal’s jurisdictional reasoning.
2001-4, Partial Award, 17 March 2006. The increased demand for and use of both regimes indicates that the interplay will increase over time, making the topic of the “signature panel” a recurring theme for future editions of WAW. 2001-4, Partial Award, 17 March 2006.
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