This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Smart Public Procurement Can Contribute to Marofiscal Stability Smart public procurement spending can be a critical area for improving fiscal balances because it can improve the effectiveness of public expenditure by reducing waste. Better fiscal balances will contribute to greater macroeconomic stability.
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.
Therefore, he emphasized the need to find the right balance between the protection of these important public policy goods and promoting and attracting FDI to foster economic development and increase the standard of living. In sum, the main take away of this rich panel discussion was that the right balance must be found.
As discussed below a recurring theme was the need to find a balance between having model clauses that were, on the one hand, innovative and likely to lead to faster and more efficient resolution of disputes in practice, while, on the other hand, containing sufficient quality and due process safeguards.
For the first time under Rule 54(2) of the ICSID 2022 Arbitration Rules , the Tribunal in Ruby River Capital LLC v. This post examines the standard established by the Tribunal for suspension of the proceeding under the ICSID 2022 Arbitration Rules. Canada (ICSID Case No.
In the 2022 case of Omega Engineering LLC and Oscar Rivera v. Additionally, the Claimants claimed that Panama’s actions included a smear campaign, which involved a criminal investigation into corruption allegations against Mr. Rivera, damaging his global reputation. Republic of Panama (ICSID Case No.
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.
Gazprom (2022), as well as the decisions issued in Portugal by the Court of Appeal of Lisbon ( Proc. 3409/21.2T8BRG.G1 [2022]). They aim to strike a balance between the sanctity of contracts and the flexibility needed in exceptional circumstances. Gazprom (2022). 3409/21.2T8BRG.G1 [2022]). 19222/20.1T8LSB.L1-6
The Decision joins many other decisions recently issued by Chile’s highest Court that confirm solid and well-founded jurisprudence (see, for example, CS of July 27, 2023, Rol 133.313-2022; CS of October 5 of 2023, Rol No. 71,508-2022; CS of January 16, 2023, Rol 3,545-2022; CS of July 29, 2021, Rol 104,262-2020).
Invoking the existing disclosure obligations in arbitration practice, such as those outlined in the new ICSID Arbitration Rules 2022 , he suggested alternative solutions to the abolition of double-hatting. For others, there is a growing risk of disputes as States balance investor obligations with environmental commitments.
The ICC offices in São Paulo report that almost 85% of their total amount in dispute regards cases with Brazilian state entities [fn] As informed by the ICC’s Counsel during the 2022 Brazilian Arbitration Day organized by the ICC in São Paulo, Brazil. [fn]. It’s a fine balance. Yet, BRAMIA is not a universal solution.
The ICC offices in São Paulo report that almost 85% of their total amount in dispute regards cases with Brazilian state entities [fn] As informed by the ICC’s Counsel during the 2022 Brazilian Arbitration Day organized by the ICC in São Paulo, Brazil. [fn]. It’s a fine balance. Yet, BRAMIA is not a universal solution.
The German Federal Court of Justice (“BGH”) set off a heated debate when it vacated an arbitral award based on the false application of certain sections of the German Competition Act (GWB) on September 27, 2022 (BGH KZB 75/21), conducting a full review of the arbitral award on the merits. 1059 Para.
In this regard, the Swiss Arbitration Centre published a Model Statutory Arbitration Clause and supplemental rules for corporate law disputes in Autumn 2022. To restore balance, the commentary advocates for a framework guided by the police powers doctrine, enriched by the principle of proportionality.
Nevertheless, a growing number of arbitrations revolve around matters like environmental permits, green incentives, the need for a “social license,” and corruption. By embedding these principles in IIAs, States are creating a legal foundation that can balance investor rights with the urgent need for environmental protection and social equity.
This approach arguably struck a sensible balance between party autonomy and due process considerations. Most commodity offtake contracts contain clauses to this effect and similar provisions are also found in various other types of commercial agreements ( see, e.g. , GAFTA General Feedingstuffs 2022 , Clause 27).
This thus allows for increased efficiency in arbitral proceedings administration and the dispute resolution process, and the achievement of a greater balance between the right of countries to impose sanctions and the sanctioned parties’ rights in international arbitration.
Decision of the Court According to the Pechstein Decision, the constitutional limits of externally determined arbitration agreements are governed by the right to a fair trial balanced against the freedom of contract and the protection of private autonomy (para. Instead, a balancing of interests is required (para. 40 et seq.).
decisions made by referees or umpires or juries), unless there are fraud or corruption allegations, but this is a high threshold to reach. Provisional measures can be awarded, applying the classic criteria in arbitration of risk of irreparable harm, chances of success and balance of the parties’ interests.
times the country’s estimated GDP in 2022. VIktor Nestulia Head of DREAM Project Office This led to the formation of the RISE Ukraine Coalition, which at its inception united more than 20 Ukrainian organizations working on open government and anti-corruption reform.
These developments suggest a move towards a more balanced approach between investor rights and states’ environmental duties, potentially leading to significant reforms in investment arbitration, enhancing awareness of its current limitations, especially in addressing climate challenges.
This was the third installment in the “Affaires d’Etats” series on Investor-State Dispute Settlement (“ISDS”) initiated by Curtis during 2022 PAW. Her remarks underscore the need for reforms that actually address the real disparities and ensure a more balanced and equitable resolution of investment disputes.
However, the focus on delivering a conventional energy business in a value-focused way has led to more disputes due to finely balanced economics and resource shortages. This is because there is still a need to supply conventional energy to ensure energy affordability, security, and sustainability of supply while the energy transition occurs.
Among all ICC cases that were withdrawn (before a final award could be rendered) in 2022, around 45% of cases were withdrawn before the constitution of tribunal, which indicates that the claimant has paid only the filing fee of 5,000 USD. Zhang offered an institutional angle to practice.
The tribunal in turn issued an Interim Supplemental Award in December 2021 and a Final Supplemental Award in March 2022 (together the ‘Supplemental Awards’). District Court for the Southern District of New York (‘S.D.N.Y’ Ecopetrol then filed an amended petition requesting that the S.D.N.Y.
80/2022 (“Resolution”), Annex I, art. The Resolution is, thus, aligned with CVM’s administrative rulings concerning the balance between, on the one side, the right of full disclosure to investors, and on the other side, the confidentiality of arbitration proceedings imposed by institutional rules.
All this is to be balanced with the desire and right of the claimant to have its claim resolved. 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
In May 2022, India applied to the seat court for a revision of the Interim Award and Final Award based on its discovery of subsequent “material facts or conclusive evidence” (“ Second Swiss Proceedings ”). In 2020, DT was successful in the final award on quantum (“Final Award”) and the tribunal ordered India to pay USD 93.3 million to DT.
On this topic, Haugeneder discussed one of the Draft Provisions on Procedural and Cross-cutting Issues and emphasised the need to find balance between the right to property and the right of the state to regulate the use of that property. Regarding intra-EU awards, two concurrent decisions by the Paris Court of Appeal in 2022, Strabag v.
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?
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).
Wanders, The Envisaged 2022 NAI Arbitration Rules, 9 November 2021 ). The balanced scrutiny of arbitral awards may be expected to improve the quality of awards, without prejudice to the discretion of the arbitral tribunal. Hetterscheidt, LinkedIn post, February 2024 ).
She then revealed to him that she was the “judge” The significant impact of unconscious bias on gender diversity of arbitrator appointments was recognised and discussed in the ICCA’s 2022 Report on Gender Diversity in Arbitral Appointments and Proceedings. Further details of the initiative can be found here.
For instance, LACIAC was one of the four arbitral centres that collaborated with the School of Oriental and African Studies, University of London in cooperation with the African Legal Support Facility to organise a counsel in arbitration skills-based training in 2022. It has, however, been incredibly rewarding.
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.
8, Series of 2022 , which now allows for arbitration as a mechanism to resolve intra-corporate disputes (see a previous post on this development here ). Amoroso introduced Section 181 of the Philippines’ Revised Corporation Code , as further implemented by the Securities and Exchange Commission’s Memorandum Circular No.
During 2022, evidence of an ongoing relationship between the consultancy firm and the Defendant emerged, and the Claimant raised allegations of fraud against the Defendant regarding its non-disclosure of a conflict of interest during Arbitration A.
Security for costs –– a balancing act Following welcome remarks from Caroline Falconer, Secretary General of the SCC, Dr Baltag introduced the topic of security of costs as being one of the timely topics currently addressed in international arbitration. Stockholm University and member of the Board of the SCC.
Jurisdictions such as Hong Kong have adopted these articles of the Model Law, while similar provisions (including in an emergency context) are also found in the Swiss Rules of International Arbitration 2021 and in the Dubai International Arbitration Centre Arbitration Rules 2022. However, Gary Born, at 17.02[G][10]
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 ties in with Article 25.3 This post reflects the views of its author only.
This cumulative approach aligns with parties expectations and balances interests across jurisdictions, promoting consistency in outcomes. The article also recommends establishing a presumption of arbitrability for corporate disputes. This would promote the use of arbitration while recognizing the rights of non-parties.
The Rules represent a delicate balancing act in addressing issues of legitimacy while also focusing on efficiency. An internal empirical study conducted by SIAC revealed that the Institution administered over 1,300 arbitrations involving over 2,000 Indian parties from 2011 to 2022 (and no SIAC award was set aside in India during this period).
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content