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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. Wood did not.
On May 7, the Malaysian government launched its 2024-2028 National Anti-Corruption Strategy (NACS), a continuation of its 2019 National Anti-Corruption Plan (NACP) that ended in 2023. The country enjoyed comparatively marginal improvements, rising to 61st in 2022 and 57 in 2023. billion) between 2018 and 2023.
Leads generated from insiders are critically important to any financial enforcement program,” said Young. The CFTC Whistleblower Program has proven to be highly effective in combating commodities fraud as well as international corruption,” said whistleblower attorney Stephen M. Kohn of Kohn, Kohn & Colapinto. “We
On 13 November 2023, the UK Government published guidance setting out its ambitions for innovation procurement under the new Procurement Act 2023 (not yet in force, of which you can read a summary here). 94 PA 2023). This is an important issue that may require further discussion in a separate post. 20 PA 2023).
In this episode of the Whistleblower of the Week podcast , host Jane Turner speaks with Mzukisi Makatse, who blew the whistle on a corrupt grant awarded by the South African Lottery Commission. Makatse was honored for his bravery by Blueprint for Free Speech in their 2023 Whistleblowing Awards.
[link] In this episode of the Whistleblower of the Week podcast , host Jane Turner speaks with Johannah Phenya, the owner of a South African IT company who alongside her husband blew the whistle on alleged corruption and fraud in the awarding of government contracts. Subscribe on your favorite platform!
Together, they embark on a perilous journey in their quest to expose the state capture of a corrupt South African security group and the double-dealing profiteers who benefit from warfare in Africa. South African whistleblowers face an uphill battle when it comes to reporting corruption.
In 2023, our annual community survey became even more critical for us as we shaped our new organizational strategy, which we are very excited to share with you next month. These will be important points to double down on in our new strategy. Both our 2023 score and our final strategy count landed on an average 6.9
To tackle this problem, the country has proposed wide-ranging legislation , including an anti-corruption package with measures to standardize the operations of Mongolia’s state-owned enterprises (SOEs) and ensure they follow consistent rules throughout processes like tendering and procurement, among others.
The Foreign Corrupt Practices Act (“FCPA”) prohibits U.S. companies from engaging in bribery and corruption abroad when the payments are directed at foreign government officials to gain an improper business advantage. [4] While pre-acquisition due diligence is important, it does not always uncover misconduct.
ICSID reported that, out of the new forty-five registered cases, twenty-one were brought against Latin American and Caribbean states (the annual report covers the fiscal year from July 1, 2022 to June 30, 2023). Further, the easement on US sanctions on Venezuela in 2023 might also impact the foreign investment the country receives.
2023 stands out as a pivotal year marked by substantial advancements in arbitration across the African continent. The substantial award at issue is of a particularly high value and fraud and corruption elements arise in both the procurement of the underlying contracts and also the awards themselves.
On 22 December 2023, a Tribunal composed of Prof. 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. Bernard Hanotiau, Prof.
According to the government’s allegations, “between January 2021 and October 2023, HMIS engaged in a systemic and fraudulent overcharging of DOE for fire protection work at Hanford. We will continue to work hand-in-glove with our law enforcement partners to end fraud and corruption at Hanford and support environmental remediation.”
Supreme Court of Chile, 71.508-2022, 05 October 2023 Laura Aguilera Villalobos, Centro de Arbitraje y Mediación de la Cámara de Comercio de Santiago (CAM Santiago), ITA Reporter for Chile The Supreme Court of Chile grants exequatur, recognizing and authorizing the enforcement of a foreign arbitration award from France, based on Law No.
2023 was another year of growth for arbitration in Australia, New Zealand, and the Pacific Islands. We explore some of these key themes below. Australia Cases Australia’s investment arbitration jurisprudence made particular strides in 2023. & Anor [2023] HCA 11.
Following the success of previous editions (see here for previous coverage), the fourth edition of Copenhagen Arbitration Day took place in October 2023. He emphasised the importance of arbitration to business and society, particularly owing to the present burden on the courts. 1, to what arbitration could be like in 2035.
On 22 August 2023, the Singapore International Arbitration Centre (“ SIAC ”) published the Draft 7th Edition of the SIAC Rules (the “ Draft Rules ”) for public consultation. The public consultation period remains in effect until 21 November 2023 and comments can be submitted via email to rulesconsult2023@siac.org.sg
What are some of the watershed moments from your time as director of AIAC and can you please share your thoughts on what it’s like to be back at the helm as of March 2023? It is now important for the Centre to show that it is independent and efficient with a commitment to promote ADR services in Asia and beyond.
This post highlights the most significant arbitration-related decisions of the Swiss Federal Supreme Court (“SFSC”) in 2023 that are of interest to the international arbitration community at large. Decision 4A_486/2022 (26 April 2023) concerned a tennis player (A.) as licensor and B. as licensee. Before the SFSC, A.
The third edition of the annual Uzbek Arbitration Week (UzAW 2023), held in Tashkent, Uzbekistan between 10-15 September 2023, continued its mission to establish Uzbekistan as the preferred seat for arbitral proceedings in the CIS region and beyond. This post provides an overview of the key highlights from the event.
The wide-ranging program covered cutting edge technological innovations and timeless human considerations such as persuasion, corruption, and disability inclusion. The proposal had echoes of the 2023 ICC Commission Report on Facilitating Settlement in International Arbitration. AAA-ICDR Bridget M. From there, Ms.
In 2023, Canadian courts were called to rule on a multitude of fascinating issues, including distinguishing arbitration from expert determination ( Clearspring Capital Partners II v. In addition to judicial developments, several initiatives and events enriched 2023. Additional 2023 year in review posts are available here.
India ADR Week (“ IAW “) 2023 was hosted by the Mumbai Centre for International Arbitration (“ MCIA “) across three cities – Bengaluru, Delhi and Mumbai. The panel concluded by agreeing on the importance of consulting legal and quantum experts as early as possible in the dispute resolution process.
On November 16, 2023, during the 5 th annual New York Arbitration Week , DLA Piper hosted a double feature event focused on the effective management of risks and disputes in the context of M&A transactions. Therefore, it is important to remain open to a variety of potential dispute resolution mechanisms.
These were only a few of the questions discussed at the DIS40 Autumn Conference 2023 , which took place on 15 September 2023 in Berlin as part of the second edition of the Berlin Dispute Resolution Days (the coverage of the previous edition can be found here and here ).
On 23 November 2023, Young Arbitrators Sweden (YAS) held its fifteenth annual Arbitration Day (Sw. Such disputes are increasingly complex and evidence-heavy, and the panel agreed on the importance of Procedural Order No 1 (PO1). The importance of honest and accurate advice, including on the probabilities of success, was also stressed.
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.
In light of the 2024 Draft Revisions, there are several important issues that remain unclear, and which parties may encounter in practice: Is Asset Preservation Possible? The latest 2024 Draft Revisions essentially confirm the existing regime for ad hoc arbitration in China, rather than expanding its scope.
The General Assembly has a number of powers amongst which is the power to consider and decide on points of law, which are complex, new or of significant importance. The Decision of the General Assembly On 24 October 2023, Decision No. 10 of 2023 ( courtesy translation by the authors ) was rendered by the General Assembly.
17 of 1916) , passed more than a century ago, and makes Guyana the latest Commonwealth Caribbean country, after Trinidad and Tobago, which passed new legislation in 2023 , to modernize its arbitration laws. The AA repealed the outdated Arbitration Act, Cap 7:03, Laws of Guyana (Act No. These provisions bode well for arbitration agreements.
Mr. Falkof shared insights on the English Commercial Court’s decision on 23 October 2023 to set aside the arbitral awards in full (the “ Judgment ”). Consequently, Nigeria challenged the award under Section 68 of the Arbitration Act 1996 (“ Arbitration Act ”).
The UK Supreme Court (‘UKSC’) addressed the meaning of ‘ matter’ in Article II(3) of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (‘NYC’) in its judgment of 20 September 2023 in Republic of Mozambique v Privinvest Shipbuilding SAL (Holding) [2023] UKSC 32 (‘ Mozambique v Privinvest’ ).
In April 2024, a law passed by the Investment Authority opened the import, wholesale, retail and export (of raw coffee, khat, oilseeds, pulses, hides and skins, forest products, poultry and livestock bought from the local market) sectors to foreign investments. This is a significant leap towards an arbitration-friendly environment.
2.925/2023 (“ Bill ”) is intended to amend federal law no. The Bill was being discussed earlier this year by the Brazilian Congress as a matter of urgency, which is no longer in effect since the urgency regime was revoked by the Executive on September 13, 2023. 6.404/1976 (regulating joint-stock companies/business corporations).
On 14 September 2023, the DIS Autumn Conference “A World Map of Arbitration in the 21st Century – and What to Find in Germany” showcased Germany’s eminent position in the field. For example, the tribunal could point out its view on important issues, or the evidence that is required.
This achievement will mark an important milestone in my professional career as I will become the first licensed to practice in both Bulgaria and South Africa. Since its establishment in 1996, AFSA has developed a reputation for professionalism and efficiency, overseeing 6,000 domestic and 144 international arbitrations by 2023.
The importance of the subject matter of the claim has been confirmed by several court decisions (e.g., 2023/PN.Jkt.Sel and Decision No. 2023/PN.Jkt.Sel, both from the District Court of Jakarta Selatan). most recently, Decision No. 2) The author was involved in both cases as counsel for the successful party.
Moreover, along with the shift from traditional trade disputes to tech-related disputes, arbitrations relating to cryptocurrency and cybersecurity are of increasing importance. The panel finally stressed the importance of equipping individuals interested in America-Asia trade with the necessary knowledge and skills.
A beautiful Perth morning on Thursday, 12 October 2023 saw the convening of the panel – “Resolving Disputes on Major Projects – Lessons Learned from Recent Arbitration Proceedings”. Drafting clauses to best effect is an important part of the dispute process. This concludes our coverage of Australian Arbitration Week 2023.
In 2023 alone, this included reforms in national legislation, international instruments, and institutional rules. On the national legislation front, the flagship reform is the enactment in June 2023 of the new Saudi Civil Transactions Law , which came into force on 16 December 2023.
But an amendment to the procurement law in December 2023 has paved the way to making the Observatory’s monitoring systems available to the public too. Since updating the site in December 2023, visitors to the Observatory microsite have increased by more than 300%.
Over our last strategy from 2019-2023, we estimate that our work had an indirect positive impact on an estimated 209 million lives and US$116 billion dollars of public spending. We will make sure our solutions are co-built with local partners who will own an important ‘problem’ and who will own and scale the approach.
On 19 October 2023, the ICC Young Arbitration & ADR Forum (YAAF) hosted a workshop titled “ Navigating the Frontiers of Artificial Intelligence in Arbitration ” in Zurich. According to another study , the numbers remained on a similar level in 2023.
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