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It should then not be surprising that the possibility that artificial intelligence (AI) could ‘change the rules of the game’ (eg Santiso, 2019 ) and bring procurement corruption to an end is receiving significant attention.
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.
For instance, the Slovakia-Iran BIT (2016) outlines conducts that could “only” result in a breach of the FET, and the EU-Singapore Investment Protection Agreement notes, that “the frustration of legitimate expectations […] does not, by itself, amount to a breach” of the FET. See Ghana-Turkey BIT (2016), Art. Preamble).
He supported this position by referring to India’s termination of 76 of 87 of its BITs in 2016. Ever since then, the Indian government has taken a more cautious approach with the 2016 India Model BIT (“India Model BIT”). The shift in India’s position has become more visible after the White Industries award and subsequent cases.
Such provision was declared unconstitutional in Judgment C-035 of 2016 because it authorized mining activities in projects with pre-acquired environmental licenses in páramo areas. In June 2015, Colombia enacted Law 1753 , ratifying the mining ban in páramos , but reviving a grandfathering provision alike Law 1382.
Such provision was declared unconstitutional in Judgment C-035 of 2016 because it authorized mining activities in projects with pre-acquired environmental licenses in páramo areas. In June 2015, Colombia enacted Law 1753 , ratifying the mining ban in páramos , but reviving a grandfathering provision alike Law 1382.
In parallel, the award was also challenged before the German courts, so far resulting in the Pechstein Decision reversing a judgment of the German Federal Court of Justice ( Bundesgerichtshof ) dated 7 June 2016 ( KZR 6/15 , previously discussed here ) and remanding the case to the Higher Regional Court of Munich. 40 et seq.).
In 2016, the KSA launched the Saudi Vision 2030 , an initiative to, among others, attract foreign and domestic investment by improving the regulatory environment and enhancing business opportunities. The Kingdom of Saudi Arabia (“KSA”) is undergoing a transformative shift in its economy. Notably, Article 4.1
In both cases, the tribunals decided complex international business disputes solely on the basis of the 2016 edition of the UNIDROIT Principles. Two recent arbitral awards support the latter view.
2019-11, Award dated 31 January 2022; Manuel García Armas et al v Venezuela , CPA 2016-08, Award on Jurisdiction dated 13 December 2019; Enrique Heemsen v Venezuela , CPA 2017-18, Award on Jurisdiction dated 29 October 2019).
The LACIAC was established in 2016 and during this time there have been significant developments in Nigeria in relation to arbitration. Balancing being Chairman at LACIAC and a Partner at Banwo & Ighodalo has certainly been challenging particularly in the area of time management. It has, however, been incredibly rewarding.
Legal Position in India General Scheme of India’s Insolvency Regime The law relating to the Corporate Insolvency Resolution Process (“ CIRP ”) in India is codified in the Insolvency and Bankruptcy Code, 2016 (“ IBC ”), which distinguishes between financial creditors and operational creditors. 13) Telnic at [29]-[32]. Axis Bank Ltd.
When we launched EILA Rev in 2016 we set out to address a very wide range of issues at the cross-roads of European investment law and investment treaty law. The other group suggested enhancements and more pronounced checks and balances of the existing arbitration system. Loukas Mistelis, Co-Editor-in-Chief Prof.
Relevant for this blog post, EA provisions as they usually stand, including under the 6th Edition of the Arbitration Rules of the SIAC (SIAC Rules 2016), do not allow a party to obtain ex parte relief, i.e. , no relief can be sought or granted without notifying all other parties to the dispute. Some of its drawbacks are discussed here.
Its main contentions were that the award was induced or affected by fraud or corruption, and enforcement would be contrary to public policy. Accordingly, two issues came before the Court: What were the appropriate legal principles for a case management stay; and On balance, whether the case management stay should be granted.
This proposal has raised concerns about undermining the legitimacy of the arbitration process and whether it strikes the right balance between party autonomy and the supervisory role of courts. It is therefore not surprising that the Model BIT 2016 did not find many takers.
This proposal has raised concerns about undermining the legitimacy of the arbitration process and whether it strikes the right balance between party autonomy and the supervisory role of courts. It is therefore not surprising that the Model BIT 2016 did not find many takers.
The Rules represent a delicate balancing act in addressing issues of legitimacy while also focusing on efficiency. 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
Whilst Pakistan had been working towards arbitration reform for quite some time (see the arbitration bill presented in 2016), no material movement had been seen in that sphere over the last decade presumably because of the various political changes in the country. Additional 2024 year in review posts are available here.
National Highways Authority of India (2016), Larsen AC & Refrigeration Co. Most crucially, the SC will have to decide whether and how the power to do complete justice under Article 142 should be balanced with the restrictive construct of Section 34. Courts also have the option to partially annul the award. Samudram v.
The Dispute The dispute arose from a 2016 Coal Transportation and Storage Services Agreement (“Agreement”) between Greenfield SPVI, S.A.P.I. The Tribunal’s careful interpretation of the contract terms and its balanced approach underscore the importance of arbitration in resolving sophisticated commercial disputes.
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