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
In the following paragraphs, we will explore the key elements of this transformative agenda and the opportunities for action available to governments in the region. Better fiscal balances will contribute to greater macroeconomic stability. Reducing waste in procurement requires a balanced focus on both active and passive waste.
Kosovo Can Seek Compensation for Investor-caused Damages To maintain a balanced relationship between the host state and the investor, Chapter II of the 2024 Law on Sustainable Investments outlines not only the rights but also the obligations of investors.
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.
Without the hurdle of centralized legislation governing the industry, the sports domain has attracted sophisticated money laundering schemes to achieve lucrative business transactions. Likewise, sports enterprises function as self-governing bodies as they are not subject to federal or state regulation. NCAA, 584 U.S.
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.
There is growing recognition that the public procurement system can be a strong force for policy implementation, helping to tackle major social and economic challenges faced by governments across the region. The reforms also created a procurement cadre across government that had specialized training – the most common of which was the CIPS-UK.
Issues of corruption, investors coming in with unclean hands, as well as investors putting forward inflated claims are also some of the concerns of host states and other stakeholders. In terms of corruption, Prof. Dr. Ong said that there are currently no arbitration rules that define the standard of proof for corruption.
Rivera”) (collectively, the “Claimants”) sought over USD 100 million from the Republic of Panama (“Panama” or the “Government”). The Claimants suggested a test requiring proof of government misconduct contributing to contract terminations. The Tribunal also determined that the Government did not treat other contractors differently.
The article considers the consequences of this network of rules and argues for a balanced approach to confidentiality which allows for exceptions where necessary in the interest of justice. These include: (1) lex contractus ; (2) lex loci arbitri ; (3) the a-national approach; and (4) the validity approach.
government is going to be your contracting party and they’ll basically operate as a bit of a middleman between you, the contractor and that foreign government. I think the Justice Department has characterized sanctions as the new FCPA, the new Foreign Corrupt Practices Act. procurement contract. It is complicated.
Public procurement needs to be more transparent, efficient, and accountable to tackle the major social and economic challenges faced by governments across the world. But governments’ digital transformation of their systems to better achieve these goals are at varying stages of development and maturity.
United States on the ground that USMCA Annex 14-C does not cover measures adopted after the termination of NAFTA, Canada argued that the balance of convenience and sound administration of arbitration require the suspension of the proceeding until that Tribunal had ruled on the preliminary objection to jurisdiction.
Ever since then, the Indian government has taken a more cautious approach with the 2016 India Model BIT (“India Model BIT”). In this regard, states and stakeholders would have to work on finding a more balanced approach which takes into account public participation, transparency and steps to make it more legitimate in the eyes of public.
Perhaps, underneath all the arbitral extravagance and incalculable network of disturbing corruption lurks a least appreciated cultural milieu worth $11 billion dollars. Let’s kill all the lawyers. ’” ( Nigeria v. Process & Industrial Development , para. On October 23, 2023, in the Federal Republic of Nigeria v. 158-80, 228-306).
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.
Traditionally, investor-state dispute settlement (“ ISDS ”) has not been linked to Environmental, Social, or Governance principles (“ ESG ”). Nevertheless, a growing number of arbitrations revolve around matters like environmental permits, green incentives, the need for a “social license,” and corruption. At least not explicitly.
Government to submit its position on the issues raised in the appeal. In appropriate cases (such as here, where foreign policy implications are involved), a court may invite other branches of the government to express their views. Government, represented by the U.S. The Government also argued that the U.S. Here, the U.S.
Among attendants were academics, practitioners, government officials, and arbitrators, who were later joined by over 50 virtual attendants via Zoom. Mr. Prager noted that the high number of BITs coupled with systemic institutional problems and weak governments has resulted in more cases being brought against states in the region.
“Corporations have their own global private court system – called ISDS – which they use to bully governments. This process is governed by contracts that incorporate directly or indirectly most aspects of the host State’s regulatory framework, distinguishing it from other countries where these would be extracontractual matters.
“Corporations have their own global private court system – called ISDS – which they use to bully governments. This process is governed by contracts that incorporate directly or indirectly most aspects of the host State’s regulatory framework, distinguishing it from other countries where these would be extracontractual matters.
This behavior showed that Colombia acted with a legitimate purpose, giving meaningful consideration to competing economic, environmental, and social interests to produce a balanced policy. The tribunal recognized Colombia’s efforts to protect páramos as proportionate and nondiscriminatory, given their environmental relevance.
Fortunately, Ukraine has a world-beating open government and open data infrastructure that can be leveraged to help address that challenge: we articulated a vision for how this can be done late last year. After the launch, the systems were transferred to the balance of the state in the form of a state-owned enterprise.
Given the evolution of arbitral practice during this time, the UK Government in 2021 asked the Law Commission to consider potential amendments to the Act to ensure that it continues to be ‘state of the art’. The Law Commission concluded that wholesale reform of the Arbitration Act was not necessary or desirable in order to achieve that aim.
Mason and Elliott both alleged the NPS’s vote was part of a corrupt scheme by the State, with personal involvement from Korea’s then-President Park Geun-hye, to support the Samsung founding family’s control over Samsung, at the expense of public shareholder value. Each examined Article 11.1.3
This behavior showed that Colombia acted with a legitimate purpose, giving meaningful consideration to competing economic, environmental, and social interests to produce a balanced policy. The tribunal recognized Colombia’s efforts to protect páramos as proportionate and nondiscriminatory, given their environmental relevance.
This provision is aimed at ensuring a delicate balance between public interest and investor rights, unlike the Old Law, which offered limited safeguards. This shift towards inclusivity indicates a clear effort to create a level playing field for all investors, something that the Old Law did not provide as it only governed foreign investments.
Social value is directed toward the broader benefits that procurement and government’s commercial activities can bring to society, the economy, and the environment. By focusing on social value, governments demonstrate accountability and purpose. This is why government agencies are setting sustainability targets for suppliers.
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.).
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.
In December 2016, the AU passed the Pan African Investment Code (“PAIC”) —the first continent-wide model investment treaty—to promote sustainable development and “achieve overall balance of the rights and obligations between Member States and the investors under the Code.” The cited document is the January 2023 draft version of the Protocol.
This has important implications for tax policies currently applied in countries, forcing governments to re-evaluate current tax rates and incentives to attract foreign investments. Second, government may face domestic political opposition against heavier taxation. Strengthening institutions, rule of Law, and protecting property rights.
On May 10, 2021, and following the provisions of clauses 12 and 18(2) of the Contract, the Buyer commenced arbitration proceedings, under the rules of the ICC, before a sole Arbitrator, in an abbreviated procedure, in which it demanded the restitution of the paid advance balance, plus interest, and costs.
In my interview with Caroline Kenny KC , she expressed that for Australia to continue to progress and establish itself as a renowned arbitration hub, the Australian Government must support the growth of international commercial arbitration in Australia, including by funding ACICA. Do you think the balance is right in Australia?
He called for a balance between leveraging new technologies and preserving the integrity and fairness of the arbitration process. They also noted the proactive role of the government in promoting arbitration through supportive regulations and public-private partnerships.
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.
To strike an appropriate balance, SIAC, for its part, has adopted a noteworthy approach – according to one of its practice notes , “the parties are not to bear any fees for the use of an administrative secretary where the amount in dispute is under S$15,000,000” (para.
In other words, although a balancing test is applied to determine the question, the starting position weighs towards publication. To successfully argue otherwise will likely require more than proving an expectation of confidentiality.
Echoing this sentiment, James McGlaughlin , in his post on how foreign investments might be governed “in a potential ECT lacuna”, envisioned a potential demise of the ECT amid attempts to modernize it. For others, there is a growing risk of disputes as States balance investor obligations with environmental commitments.
The Voices of Developing States in Multilateral Fora Ladan Mehranvar kicked off the discussion by presenting the findings of her upcoming empirical paper on the attendance and participation of government delegations in the WGIII negotiations. David Bigge, representing the U.S.
This creates a regulatory gap —or rather a laissez faire environment—whereby the public sector is allowed to experiment with the adoption of digital technologies without clear checks and balances. The current strategy is by and large one of ‘experiment first, regulate later’.
While there have been significant strides in recent years in the promotion of international arbitration in the region (for example, earlier this year Papua New Guinea (“PNG”) adopted laws governing both international and domestic arbitrations; see here and here ), there is room for further reform and capacity building across the region.
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. Smeureanu discussed expropriation protections. Cercel provided an overview of the topic.
Kudrna added that the Czech Republic recently faces new challenges connected with climate change and the developing economies’ balance between compliance with international norms and treaties (e.g., Speakers included Yermek S. International prejudice also comes to mind as a severe challenge when negotiating BITs.
The last failed attempt was made in April 1998, when governments launched negotiations for a multilateral agreement on investment (MAI) within the Organization for Economic Cooperation and Development (OECD). However, some other governments seem willing to only accept a much lower standard of protection.
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