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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.
India endorsed the request however Pakistan unilaterally retracted this request and proposed that the dispute be referred to arbitration, in 2016. The ICJ rejected the first objection but upheld the second, emphasizing the mandatory nature of negotiation attempts as a precondition for its jurisdiction.
The underlying dispute concerned unpaid invoices under a Gas Supply Agreement (‘ GSA ’) entered into by the Parties in 2016 for the purchase of Regasified Liquefied Natural Gas (‘ RLNG ’) from Sui Northern Gas Pipelines (‘ SNGPL ’). These are important considerations for contracting parties negotiating the seat of arbitration in any contract.
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”). Rowley, KC observed that treaties have to be negotiated like contracts.
Over the years, this has led to a huge number of bilateral, multilateral and regional investment treaties being concluded throughout Africa – as of 2016 , there were approximately one thousand such treaties with an African state party. Should investors be pushing back on African seat proposals when negotiating arbitration clauses?
1090/2016, 31 December 2018 Ismail Selim, Cairo Regional Center for International Commercial Arbitration (“CRCICA”), ITA Reporter for the CRCICA CRCICA Case No. 1090/2016 (First Industry Operator v. The ITA Board of Reporters has reported on the following awards. First Industry Operator v.
He is currently the Director of the Asian International Arbitration Centre (AIAC) and President of the Asian Institute of Alternative Dispute Resolution (AIADR) , and he also previously served as President of the Chartered Institute of Arbitrators (2016).
It took 16 years of negotiations for India and the European Free Trade Association (“EFTA”)—comprising Switzerland, Norway, Iceland, and Liechtenstein—to clinch a free trade agreement (“FTA”). The newly minted FTA is expected to boost the extant levels of trade between the two countries.
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).
However, taking a step back, if the award merely required the respondent to compensate the claimant with bitcoins or allowed the value of the bitcoins to be determined through parties’ negotiation instead of by reference to the price from a third-party website, would such award be enforceable? As a case in point, in Sun Dingshang v.
Dr. Etgen provided some interesting statistics on enforcement, noting that a 2016 empirical investigation over a period of more than 20 years showed that the enforcement rate of foreign awards in China was just under 70%.
He also mentioned how the European Commission leveraged Achmea and Komstroy (issued during the modernized ECT negotiations) in introducing a disconnection clause prohibiting intra-EU disputes.
of the Investment Protocol provides that investors and host states shall first attempt to resolve their investment disputes amicably “ through consultations, negotiations, conciliation, mediation or other amicable dispute resolution mechanisms available in the Host State ”. Similarly, Article 46.1
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 Article 8 stops short of providing a basis for any liability or compensation.
Here, he cited the proposals made in the 2016 Non-Paper , outlining the creation of such a regime, with a specialised EU investment court being part of it. Ms Fatás Pérez added that negotiations on the creation of a multilateral investment court would still require significant work. Bermann saw no reason for not trusting EU courts.
Dias mentioned a few: The Tay case (2016) : Related to Microsoft’s profile created to navigate on Twitter and interact with users. In short time, the AI was corrupted by the users and started sending out violent messages. This was followed by Mr. Gabriel Seijo ’s request that the attendees sign the Green Arbitration Pledge.
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 Sociedad Naviera Ultragas Ltda & Synteko Produtos Químicos S/A v. HDI Seguros S.A.,
More recent advancements in Mongolia’s international investment initiatives include the Canada-Mongolia BIT (2016) and Japan-Mongolia Economic Partnership Agreement (2015) (which replaced and superseded the Japan-Mongolia BIT (2001) ). Notably, in 2016, Mongolia faced a significant downturn in FDI, registering a negative inflow of $4.1
Timor-Leste has since turned its attention towards finalising its land and boundaries with Indonesia and is engaged in ongoing bilateral negotiations to this end [fn]Maritime Boundary Office, Timor-Leste’s Maritime Boundaries with Indonesia , [link]. ↑ 5 The official document is in Portuguese.
The Dispute The dispute arose from a 2016 Coal Transportation and Storage Services Agreement (“Agreement”) between Greenfield SPVI, S.A.P.I. TPP was the primary entity responsible for negotiating the terms of the Agreement and played a central role in its execution. Below, we address the key discussions arising from this dispute.
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