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Two recently announced Foreign Corrupt Practices Act (FCPA) settlements involving reinsurance companies demonstrate what happens when the rubber hits the road. Correspondingly, this is yet another important factor to consider in determining whether to make a disclosure. Jardine Lloyd Thompson Group Holdings Ltd.
On its part, the Respondent raised several objections to the jurisdiction of the Tribunal, specifically pointing to several instances of corrupt and illegal acts allegedly committed by Worley at the making and during the operation of the investment. Worley may have willfully failed to monitor and investigate Tecnazul’s corrupt activities.
In this context it is important to recall that bias is not used in a pejorative sense, rather it means the absence of demonstrated independence and impartiality ( Yiacoub v The Queen [2014] UKPC 22 ). The principle is far too important to allow it to be passed over [….]” The views expressed in this post are the author’s own.
How domestic courts approach challenges to arbitration awards is of increasing importance as foreign parties often decide to seat an arbitration in a jurisdiction that they believe will provide the greatest stability to governing the arbitration process.
The lost decade: EU Auditor Helga Berger painted a sobering picture: we’ve lost a decade of progress in European procurement despite 2014 Directives. Data-powered red flags strengthen efforts to fight corruption. All this will likely lead to revised public procurement directives. This trend started long before Covid.
David is the founder of reAcción , a grassroots anti-corruption civil society organization that empowers young people in Paraguay to fight for government transparency and social accountability. I work in anti-corruption, leading an organization that focuses on the education sector in Paraguay.
She also highlighted the importance of preserving key principles such as procedural fairness and due process, whilst also promoting innovation and adjustment, and ensuring every voice is heard. This sentiment expresses the importance of this topic, one that captured the lively discussion of the panel, moderated by Jurgita Petkute (KNOETZL).
First published in 2004 (the “2004 IBA Guidelines”) and then revised in 2014 (the “2014 IBA Guidelines”) (collectively, the “IBA Guidelines”), the IBA Guidelines have become a go-to guide for arbitrators, counsel, and arbitral institutions in identifying conflicts of interest and assessing the need for disclosure.
2014) enforced a supplemental award restraining the respondent to satisfy an interim award with escrowed funds. This is an important judgment because it does not rely on “finality”, as envisaged in the Guide or the international precedents. Damietta International by the Cairo Court of Appeal (as discussed in a prior blog post ).
Hamama led a discussion regarding Russia’s annexation of Crimea and the Donbas region in 2014, outlining the solid ground it created for claiming damages and compensation, and noted that similar claims have emerged following the Russia-Ukraine war in 2022.
It is important to note, however, that while the CISG is probably most applied in arbitration proceedings, which are confidential in most cases, a possible distortion of the statistics on application of the CISG in Brazil might exist. Mr. Xavier highlighted CBAr’s initiatives towards the promotion of CISG’s application in Brazil.
As a State seeking to be a full participant in the global order, South Africa recognised, while establishing the judiciary as guardian of its constitutional democracy, that alternative forms of dispute resolution would also be important in ensuring access to justice and legal services.
The Crimean Cases After Russia took control of Crimea in 2014, a number of Ukrainian nationals started arbitral proceedings against Russia under the Russia-Ukraine BIT, seeking compensation for alleged losses incurred in relation to investments made in the region.
Louis Dreyfus Armatures SAS & Ors , 2014 SCC OnLine Cal 17695. The panel concluded by agreeing on the importance of consulting legal and quantum experts as early as possible in the dispute resolution process. This early engagement, they suggested, allows for strategies informed by a range of professional perspectives.
Both panelists stressed the importance of understanding a client’s goals in arbitration and the importance of knowing the facts necessary to prove a claim. Acknowledging that connections play an important role in arbitrator selection, Ms. The discussion then turned to the promotion of young and diverse arbitrators.
For example, the WIPO Arbitration and Mediation Center, which specializes in the resolution of IP and technology disputes, has recently seen a significant increase in cases – from 71 new cases in 2014 to 679 new cases in 2023.
Following an award on jurisdiction and liability in 2014 , in CGC’s favour, and several unsuccessful challenges by NIOC under s.67 In 2003, CPCIL assigned its rights under the GSPC to its wholly owned subsidiary, CGC. NIOC failed to supply any gas pursuant to the GSPC. Therefore, CGC commenced arbitral proceedings pursuant to the GSPC.
In both arbitrations, Lima responded by arguing among other things that the Concession Contract and its modifications were void due to corruption. Finally, the Court rejected Lima’s argument that both awards violated the United States’ public policy regarding enforcing or procuring contracts through corruption. Société Indagro v.
This privatisation captured substantial public attention and scrutiny, given the importance of the services provided by CTT and the fact that these services had been rendered by public entities for almost five centuries. Because the Ruling has not been unanimous, we will also summarise the dissenting opinion casted.
Gazprom justified this limitation with reference to Article 5n of Council Regulation (EU) No 833/2014 , which prohibits EU lawyers and law firms from providing legal services to Russian entities (with certain exceptions); Gazprom can only de facto claim justice in Russia. Gazprom invoked Articles 248.1
More from our authors: Dealing with Bribery and Corruption in International Commercial Arbitration: To Probe or Not to Probe by Emmanuel Obiora Igbokwe € 190 Arbitration in Egypt: A Practitioner's Guide by Ibrahim Shehata € 190 by incurring in arbitrary and discriminatory measures, and illegally expropriated Claimant’s investment (Art.
Gox platform, a Tokyo-based Bitcoin exchange, that abruptly vanished in 2014. Nino Sievi added that the knowledge of the people and of the drafting style in the industry is often more important. In France, a notable early case in the realm of crypto assets involved the Mt. Amir Soleymani and Coinbase, Inc.
In September 2014, a three-member arbitral tribunal issued the final award (“ Award ”) directing Avitel, its founder, and directors (“ Award Debtors ”) to pay USD 60 million as damages to HSBC. A robust enforcement mechanism is one of the most important features of an arbitration friendly jurisdiction.
2d 113, 114 (4th Dep’t 1980); Liberty Imports v. More from our authors: Dealing with Bribery and Corruption in International Commercial Arbitration: To Probe or Not to Probe by Emmanuel Obiora Igbokwe € 190 Arbitration in Egypt: A Practitioner's Guide by Ibrahim Shehata € 190 JAS Forwarding (USA), Inc. , 3d 1262, 1269 (11th Cir.
NHS commissioning is currently subjected to both the Public Procurement Regulations 2015 (PCR2015, aka the UK’s copy-out transposition of Directive 2014/24/EU) and the National Health Service (Procurement, Patient Choice and Competition) (No. 2) Regulations 2013. 76 PCR2015) — each commissioner would be free to create its own procedure.
400 of 2014 (Commercial) , enforcement was refused because the award debtor proved that its representative lacked the necessary authority. The most important element has been the UAE’s legislative framework. and the absence of authority is not per se a question of capacity, there is largely a consensus that Article V.1(a)
In Dubai, it is important to note that if one wishes to take action against a Dubai government entity, the complainant is obligated to submit a statement of case to the Dubai Legal Affairs Department. This requirement underscores the significance of compliance and due diligence when entering into contracts within the UAE.
While it is prudent and most advisable to await judicial and professional interpretation based on caselaw for a more comprehensive understanding, practitioners can still consider and consult the 2014 IBA Guidelines on Conflicts of Interest in International Arbitration as a soft reference.
The first and most important step is the process of registering the claim, which must be started as soon as possible. While a lot of procedural issues are still pending and are unclear, it does not defer the important task of the preparation of quantum claims. The initial focus, however, will be on the individual claims.
Obiter Although the innocent party’s lawyers in the arbitration process were not corrupt, the question arose whether the tribunal should have been more direct and interventionist when it was clear that those lawyers were not getting instructions or were failing to put necessary points to the relevant witnesses. Société Kraydon Ltd v.
The importance and positive contribution of public procurement law to the adequate management of public funds may seem difficult to appreciate in ordinary times, and there are recurrent calls for a reduction of the administrative burden and bureaucracy related to procurement procedures, checks and balances.
Within the EU, the newly introduced Article 11(c) of Regulation 833/2014, which was part of the EUs 15 th sanctions package , now largely addresses this issue. The most important limitation will be that a sufficient nexus between the arbitration and the place where the anti-suit injunction is requested needs to be established.
Relatedly, the Court of Justice of the EU was recently requested by the Swedish court to provide its interpretation of the Article 11 of the EU Regulation 833/2014. In these conclusions, the Court did not differentiate between the foreign courts and foreign-seated arbitrations, regardless of tribunal composition.
833/2014 are entitled to seek damages before the competent courts of Member States. Eligible Defendants Claims may be brought against any person identified in points (a), (b), or (c) of Article 11(1) of Regulation 833/2014 if they have benefited from decisions pursuant to Decree No. Key Features of Article 11b(1) A.
2014] SGCA 40 53]. More from our authors: Dealing with Bribery and Corruption in International Commercial Arbitration: To Probe or Not to Probe by Emmanuel Obiora Igbokwe 190 Arbitration in Egypt: A Practitioner's Guide by Ibrahim Shehata 190 discussed here ). v BLB and Anor.
However, while promising, these applications also raise important questions about privacy and ethics. Reference was made to the latest arbitration statistics from the WIPO Arbitration and Mediation Center (from 71 new cases in 2014 to 679 in 2023). South Africa) prohibiting the arbitration of certain types of IP disputes altogether.
The awards were rendered in respect of a dispute which arose between the claimant, SpaceCom, and the respondent, Wateen Telecom, under a contract entered into between them in 2014. The SC directed courts to embrace this ethos of pro-enforcement bias to ensure swift dispute resolution.
The decision underscores the importance of clear drafting in arbitration agreements and the courts’ willingness to uphold arbitration clauses whenever possible. Entities such as Naftogaz and PrivatBank claimed compensation for unlawful expropriation of investments in Crimea following Russias annexation of this region in 2014.
Setting the Tone – The Influence of Individual Actors in Times of Crisis To open the event, author and journalist Stephan Lamby gave a keynote dinner-lecture which peered into history to examine the important role that individual actors and circumstances play in determining the outcome of international conflicts.
More from our authors: Dealing with Bribery and Corruption in International Commercial Arbitration: To Probe or Not to Probe by Emmanuel Obiora Igbokwe 190 Arbitration in Egypt: A Practitioner's Guide by Ibrahim Shehata 190 Additional 2024 year in review posts are available here.
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