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08/L-209 on Sustainable Investments (hereinafter, the “2024 Law on Sustainable Investments”). Significant changes to the protection of foreign investors and their investments were introduced with the 2024 Law on Sustainable Investments which entered into force in September 2024. Kosovo Law No.
At the 8th ICC European Conference in March 2024 , the message conveyed by the parties was loud and clear: arbitration rules should include language for settlement slots or windows. This would encourage the companies’ management to manoeuvre settlement negotiations with more confidence once the arbitration has commenced.
On the final day of London International Disputes Week 2024 (“LIDW”), LALIVE and Kobre & Kim hosted an event on arbitration and enforcement involving sovereign States. The panel of speakers comprised Andrew Stafford KC and Nicholas Surmacz of Kobre & Kim, as well as Sandrine Giroud and Marc Veit of LALIVE.
As part of the 2024 Paris Arbitration Week (“PAW”), Curtis, Mallet-Prevost, Colt & Mosle LLP hosted a webinar on “Amplifying the Voices of Developing States in ISDS Reform.” Some are negotiating their investment treaties, particularly free trade agreements (“FTAs”), collectively as a bloc to level the playing field.
A motion was brought by Uber to stay the proceedings in favour of arbitration in the Netherlands in accordance of their UberEats service agreement signed by the drivers, the terms of service which form part of standard form non-negotiable agreements. All prospective contributions should be in accordance with the guidelines set out here.
On 1 January 2024, the new version of the China International Economic and Trade Arbitration Commission (CIETAC) Arbitration Rules ( 2024 Rules ) came into force. The 2024 Rules apply to CIETAC arbitrations commenced on or after this date. The 2024 Rules also introduce rules on early dismissal. Under Article 48.2
A perception of potential bias and cultural differences has expedited this shift, with local parties, often governments or government entities, insisting on local seats in their arbitration clauses when negotiating contracts. Should investors be pushing back on African seat proposals when negotiating arbitration clauses?
The Delhi Arbitration Weekend (“DAW”) 2024 that took place from 6 to 10 March 2024 witnessed two back-to-back panels on Investor-State Dispute Settlement (“ISDS”). Subramanian , looked at the state of ISDS in 2024. ISDS in 2024 The Current State of ISDS: A State’s Perspective Justice V. Sundaram (Senior Advocate), J.
Columbia Arbitration Day (“CAD”) was held on 1 March 2024 at the Skyline Level of Columbia’s Faculty House. Clients see value in AI replacing routine tasks but are skeptical of using it in high-level work, such as in M&A negotiations.
IIAs and Model Agreement Drafting Trends As of January 2024, UNCTAD reports 21 IIAs (encompassing both investment treaties and investment chapters in free trade agreements) were signed in 2023; 10 currently have publicly available texts. We conclude with thoughts on what this could mean for the years ahead. None are currently in force.
As part of the London International Disputes Week 2024 International Arbitration Day, Kirkland & Ellis hosted a “Panel Session on Space – Arbitration for Low Earth Orbit Disputes and Beyond.”
Paris, amidst its annual Arbitration Week in 2024 , saw the convergence of arbitration practitioners and enthusiasts at the Hyatt Paris Madeleine for the conference “The Rise of Arbitration in Asia,” a testament to the region’s expanding arbitration influence, convened by Rajah & Tann Asia.
These model clauses aim to serve as guidance for EU Member States when they negotiate (or renegotiate) their BITs with third countries (extra-EU BITs). This might reflect, as they argued, some sort of recognition that the EU Member States ‘need flexibility when negotiating ISDS’ under extra-EU BITs.
On 6 June 2024, Hogan Lovells and Twenty Essex co-hosted a London International Disputes Week (“LIDW”) event on the topic “ How Can Investment Protection Contribute to the Energy Transition? “ The event brought together leading experts to discuss the intersection of investment law and the global shift towards sustainable energy.
This post summarizes an event hosted by Stewarts LLP as part of the 2024 London International Disputes Week (“LIDW”) on the topic of third-party funding (“TPF”) regulation across various jurisdictions. From the funders’ perspective, Harshiv Thakerar stated that in principle, funders do not attempt to recover more than 50%.
On 15 October 2024, Norton Rose Fulbright hosted a breakfast panel discussion on the topic of “ Hot Cakes and Hot Takes: Trends and Developments in Asia’s Energy Sector ” in Brisbane as part of Australian Arbitration Week. By contrast, Australian clauses often include a last step of arbitration if a negotiated price cannot be agreed.
One solution is for legal teams to establish record processes at the time contracts are being negotiated. The negotiation team being most of the time different from the executing team, gathering all relevant knowledge about a case or a contract requires an in-house counsel to grab information from other persons involved in the project.
Turning to a few trends and developments in the field of ISDS-awards enforcement, Mr Al-Karim first focused on the Micula dispute , observing that the 2024 judgement is part of the EU’s wider struggle with investment arbitration. For example, the way a jurisdiction defines a “State” has very real implications.
On Monday 18 March 2024, ESSEC Business School and EFILA co-organized a panel discussion within the framework of the Paris Arbitration Week (“PAW”) 2024, discussing the interactions between Human Rights, Environmental, Societal and Governance (“ESG”), Civil Society and investment arbitration. The event was hosted by Prof.
He further stressed that effective dispute resolution requires more than just legal expertise, demanding sensitivity to the communication styles, negotiation techniques, and decision-making processes shaped by cultural contexts.
The Supreme Court decision of January 24, 2024 granted the exequatur of a foreign arbitration award and authorized it to be enforced in Chile (the “Decision”). After lengthy negotiations, on June 29, 2020, the parties agreed to annul the Contract, signing an agreement called “Termination and Cancellation Notice”.
In Quaid-e-Azam Thermal Power (Private) Ltd v Sui Northern Gas Pipelines Limited [2024] EWHC 70 (Comm) , a challenge was brought under Section 68 and Section 33 of the English Arbitration Act 1996 (‘ the Act’ ) before Dame Clare Moulder DBE.
Regrettably, this possible dark fate for the ECT materialized on 30 May 2024 with the Belgian presidency’s announcement that the Council reached a political compromise on the ECT, thus breaking the stalemate within the EU, which was also painfully preventing non-EU Parties from proceeding toward its modernization.
At the end of February 2024, the United Kingdom (“UK”)’s Energy Security and Net Zero Minister Graham Stuart announced his country’s decision to withdraw from the Energy Charter Treaty (“ECT”). And so is their interplay (for a more detailed account of the relevant questions, see Kehl & Wuschka, ZEuS 2024 , 59 (67 et seq.)).
On 7 March 2024, the National Branch (“ICC Brasil”) and the ICC Court of Arbitration (“ICC Court”) held the 12th ICC Brazilian Arbitration Day (“ICC BAD” or “Conference”) in São Paulo. Federal legislation dictates that, except for cases of willful misconduct and corruption, managers are not held responsible for agreements.
The final texts of the Codes were recently issued in February 2024 ( see the final texts of the Code for Arbitrators here and for the Code for Judges here ). Professor Giorgetti also noted the lengthy negotiation process of the Codes and underscored the potential for divergence in ethical rules arising from their bifurcated nature.
In a legal context, elements of emotion AI are already being used in negotiation and mediation processes (e.g., AI-powered chatbots used by Walmart to negotiate with suppliers). In essence, it allows all participants to peep into each other’s ‘heads.’
On 8 April 2024, following lengthy discussions dating back to 2019, the UNCITRAL Working Group III (“WGIII”) completed the draft statute of an advisory centre on international investment dispute resolution (“Advisory Centre”) (see previous coverage ).
On 22 February 2024, I am pleased to deliver the 6th ADR Address of the Supreme Court of New South Wales , co-organised by the Australian Disputes Centre. Past lecturers have been senior former or serving Australian judges, with some discussing developments in arbitration. Most now answer more affirmatively (see e.g., here ).
On January 23, 2024, the Paris Court of Appeal (“CoA”) dismissed an action for annulment of an arbitral award on public policy grounds, namely a violation of EU competition law. Despite negotiations, GBO notified CAI that the agreement was terminated, alleging several breaches.
Since March 15, 2024, the German Arbitration Institute (DIS) offers a one-of-its kind solution to make third-party notices work also in arbitration: The Supplementary Rules for Third-Party Notices ( DIS-TPNR ). Since March 15, 2024, the DIS-TPNR offer a one-of-its kind solution for this problem.
Dr. Björn Etgen (GvW Graf von Westphalen) discussed how the China International Economic and Trade Arbitration Commission (CIETAC) Arbitration Rules 2024 mark a significant step towards the modernisation of arbitration in China.
In 2019, the African Continental Free Trade Area Agreement (“AfCFTA”), negotiated under the auspice of the AU, entered into force. After years of negotiations, the Assembly of Heads of State and Government of the African Union subsequently adopted the Protocol on Investment (“Protocol”) to the AfCFTA Agreement in February 2023.
What to Expect in 2024? 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 Novalex Inc. Additional 2023 year in review posts are available here.
However, such developments do open up the possibility of Australia advancing an “investment court” alternative to ISDS when reviewing older IIAs and negotiating new ones. That Committee always comprises a majority of Government parliamentarians so almost always recommends ratification, and that occurred in May 2024.
This appears to be the new trend, as the India-European Free Trade Association Agreement signed on 10 March 2024 likewise does not contain any provisions granting fair and equitable treatment, national treatment, most-favoured nation treatment, or protection against unlawful expropriation.
Brief Background In a judgment issued on May 27, 2024, the First Branch of the Supreme Court of Iran conducted a substantive retrial of a final decision by the Court of Appeal. In certain cases, the provision is cited not by the state entity involved but by its counter-party.
The amendments will become effective in April 2024. We covered panels that discussed techniques to facilitate settlement in international arbitration , regulation of use of artificial intelligence in dispute resolution , Hong Kong’s ORFSA , and the negotiation and enforcement of investors’ information rights.
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. These three cases will be jointly heard before the DC Circuit Court of Appeals in 2024.
Similarly, the cryptocurrency industry is not shielded from increased regulatory burdens, and Swiss cryptocurrency exchange, Nexo, initiated an arbitration against Bulgaria under the Switzerland-Bulgaria BIT in January 2024, following criminal investigations into the company. a negotiation period, time limitations, or excluded disputes).
This post addresses the ruling of the Portuguese Supreme Administrative Court (the “STA”) of 5 February 2024, following the appeal submitted in the case no. 0201/23.3BALSB (the “Ruling”).
On 12 January 2024, the English Court of Appeal issued an important decision on the interpretation of contractual prohibitions on assignment in the context of an insurance subrogation dispute between Mitsui Sumitomo Insurance Co Ltd (“ MSI ”) and Dassault Aviation SA (“ Dassault ”). However, the availability of de novo review under s.
In its decision of April 12, 2024, the Regional Court of Essen (‘Court’) ruled that it does not interpret the aforementioned CJEU case law to state that German courts must prevent the enforcement of this kind of arbitral awards outside of the EU (here: in the U.S.). Hellenic Public Properties Co. HPPC), Supreme Court of Greece, Decision No.
Since 2016, Mongolia has been working to establish a new model BIT to guide the negotiation of new BITs and the renegotiation of existing BITs. While some provisions address investor concerns, the mandatory negotiation period and the resolution council may add layers of complexities.
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