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The AML Act of 2020 broadened the scope of culpable actors, reporting requirements, transactional record keeping, penalties, and international collaboration. These provisions offer monetary awards and anti-retaliation protections to whistleblowers who report money laundering violations.
Successful challenges on this basis are rare: the English Commercial Court data recorded that in 2020-2021, only one out of 26 applications succeeded – a success rate of 4%. The Section 68 Challenge Section 68 is one of only a handful of narrow grounds on which arbitral awards can be set aside (or remitted to the tribunal) under English law.
The Court considered that “the suggestion that it was unnecessary to call any expert witnesses was plainly not an expression of a balanced and impartial view, or merely a concern about the hearing over-running, or an attempt by the arbitrator to impose an orderly and economical procedure on the parties.”
71,508-2022; CS of January 16, 2023, Rol 3,545-2022; CS of July 29, 2021, Rol 104,262-2020). On February 6, 2020, the Buyer paid the Seller – as an advance payment and against the fixed price – the total amount of USD 101,250. The seat of the arbitration was Singapore.
This article therefore discusses the importance of the rule of law in arbitration, evaluating how arbitration already defends the rule of law and provides some thoughts about balancing the rule of law in arbitration to avoid an antithetical outcome. 3802803 of 2020. Bhaskar Raju judgment. Indo Unique Flame Ltd. CIVIL APPEAL NO(S).
We are also very pleased that we achieved one of the closest gender balances in survey responses last year, closing the gap between Men and Women from a 22% differential in 2022, to an 11% differential in 2023. Across the last five years, this puts us at an average of Net Promoter 82, exceeding our strategy cycle target of 80.
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.
According to UNCTAD , in 2020, a violation of FET was alleged in “over 80 percent of known ISDS cases”, and “in cases decided in favor of the investor, breaches of the FET provision were the most commonly found violation”. See, e.g., Brazil-India BIT (2020) ; Brazil-Ethiopia BIT (2018) ; Brazil-Malawi BIT (2015).)
In 2018, I joined the Board of Directors of the Lagos Chamber of Commerce International Arbitration Centre (LACIAC) and in December 2020, I was appointed as Chairman of the LACIAC Board of Directors. Can you tell us a little bit about the Adjudication Rules which LACIAC introduced on 9 December 2020?
The Kingdom of Spain , another two Dutch companies obtained an award in 2020 from a Swiss-seated UNCITRAL tribunal. In other words, the court’s inquiry appears to be directed into balancing between judicial power to resolve international disputes and political questions that are decided through diplomatic channels.
Vesel addressed the issue of illegally-obtained evidence, referring to the 2020 update to the IBA Rules on the Taking of Evidence that allows arbitral tribunals to exclude such evidence. He noted that Draft Provision 12 appears to move away from that balancing act, instead legitimising any form of state regulation.
On December 16, 2020, the General Court of the European Union (“GCEU”) upheld the Commission’s decision with respect to the violation of European antitrust law, while rejecting the Commission’s conclusion on the arbitration clause. The ISU applied for annulment of the Commission’s decision.
The High Court relied and emphasized on the decisions of the Court of Appeal in Metalform Asia Pte Ltd v Holland Leedon Pte Ltd [2007] 2 SLR(R) 268, AnAn Group (Singapore) Pte Ltd v VTB Bank [2020] 1 SLR 1158 and BWG v. BWF [2020] 1 SLR 1296. The legal position as held by the Court of Appeal in Salford Estates (No. 2) Limited v.
In 2020, DT was successful in the final award on quantum (“Final Award”) and the tribunal ordered India to pay USD 93.3 In balancing the interests of the award creditor (DT) against those of the award debtor (India), the Berlin Court considered the low likelihood of India succeeding in the Second Swiss Proceedings (p. million to DT.
From a government perspective, Ms Kautoke noted that a primary aim behind the international arbitration reform in Tonga has been to encourage trade and investment, however this is balanced with the need to protect local businesses. Fiji’s international Arbitration Regime—A Trailblazer? Ms Kautoke summarised the state of play in Tonga.
This approach arguably struck a sensible balance between party autonomy and due process considerations. The Center for Arbitration and Mediation of the Chamber of Commerce Brazil-Canada (CAM-CCBC) introduced, in 2018, an Administrative Resolution regulating the proceeding of the Emergency Arbitrator, which was updated in 2020.
Following on from the previous question, one of the criticisms raised by survey respondents in the 2020 Australian Arbitration Report was the tendency of arbitration proceedings to mirror litigation. Do you think the balance is right in Australia? What is your view on the relationship between courts and arbitration?
The Blog went from a little over 8,000 readers/month in January 2010 to over 150,000 readers/month since January 2020, from every corner of the world, from the United States, to India, to Cuba, Gambia, Iceland, Bahamas, Mongolia, Algeria, Singapore, Hong Kong, Canada, Brazil, St. Kitts and Nevis, Andorra, and El Salvador.
The panel however agreed that a good balance is to be found, first because not everything should be recorded, but also because a too strict or inefficient record management can lead to a considerable loss of time and productivity. For example, in 2023, there was an institutional appointment by the SCC in 37% of cases.
GTI-WP/2020:01, Budapest: Government Transparency Institute. We balanced these considerations for and against applying a longer time-frame by selecting one year before and after the transparency intervention which limits the incidence of confounding factors while also taking care of seasonality biases. Fazekas, M. & & Tóth, B.
Constitutional Court of the Dominican Republic, Sentencia TC/0425/20, 29 December 2020 Stephan Adell, Adell & Merizalde, ITA Reporter for the Dominican Republic The Dominican Constitutional Court held that real state disputes can be subject to arbitration if parties decide so. BACALAR S.R.L., Magpower Soluções de Energia, S.A.
There was significant improvement in arbitrator appointments for women over the last decade from 14% of total appointments to 27% in 2019, 38% in 2020, and 40% in 2021. Diversity Statistics Ms Quick opened the session with statistics regarding diversity in the ACICA and the cases under its administration.
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.
In 2020, the Tribunal issued the first partial award on the parameters from which the final valuation should be ascertained. Its main contentions were that the award was induced or affected by fraud or corruption, and enforcement would be contrary to public policy. The Claimant unsuccessfully sought to set aside this award.
In 2020, the Respondents sought an adjustment of the Contract on account of additional labour costs arising from the Indian Ministry of Labours increase in minimum wages. Enforcing ethical standards in arbitration requires striking a balance between accountability and confidentiality. DJO rejected the claim for adjustment.
This cumulative approach aligns with parties expectations and balances interests across jurisdictions, promoting consistency in outcomes. In 2020, Seychelles acceded to the Convention. Second, the declaration that Seychelles made in 2020 when it acceded to the Convention contradicts Article 147(1) of the Commercial Code.
This post first examines the gender balance and emerging arbitration hubs in Africa (Section 1). Significantly, in 2020, the parties entered into a settlement accord where the government agreed to pay Sunrise Power USD 200 million. Sunrise Power, seeking damages of USD 2.3 billion, claimed the government breached its 2003 agreement.
of the LCIA Rules 2020 ( LCIA Rules )). While wholesale reform was neither necessary nor desirable, the amendments are significant and strike the right balance by clarifying several key issues that impact international arbitrations (including arbitrations administered by the LCIA). This post reflects the views of its author only.
Dispute Prevention and Mitigation This topic, preliminarily considered in 2020 , progressed significantly in 2024. 126-27), it will be crucial for stakeholders to maintain inclusive and transparent dialogue to build a more balanced and effective ISDS system. Angela Ray T. As ISDS reform continues in 2025 ( see also A/CN.9/1194
The decision on jurisdiction and admissibility was issued in December 2020 (hereinafter the Decision on Jurisdiction), but has only recently been made public (with the decision on quantum issued in June 2023), and the developments relating to the statement of facts have been fully redacted.
Today, I am active in several associations, such as the Swedish Anti-Corruption Institute , the International Law Association , and the International Federation of Commercial Arbitration Institutions. Each decision is tailored to the specific circumstances of the case, ensuring a balanced, competent, and diverse tribunal.
The ruling reflects a key principle of legal proceedings: the importance of maintaining a balance between ensuring justice and transparency in legal disputes while also safeguarding sensitive government information. Chevron Australia Pty Ltd v.
Guangdong Faanlong (2020), noting that PRC courts were likely shifting towards the seat standard in determining an awards nationality and as a result, assuming the supervisory role over China-seated arbitrations administered by foreign arbitration institutions. Our Blog reviewed the Chinese judicial practice after Brentwood v.
Alpha Tiger Cyprus Investment (2020). 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. LIS (India) Construction Co. 2009), Vedanta v. Shenzhen Shandong Nuclear Power Construction Co. 2019) and Shakti Nath v.
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