When Argentina defaulted for more than $80 billion in debt in 2001, it became embroiled in numerous court proceedings and investment arbitration disputes involving all types of investors from around the world. For more than a decade Argentina managed to avoid paying its debts or at least offer some level of compensation. This in turn resulted in the shunning of Argentina from the international capital markets and investors avoided Argentina as an investment destination. Continue reading
On 10 March 2016, the London Shipping Law Centre held a seminar, hosted by Stephenson Harwood LLP in London, inviting a number of commercial barristers to give their frank reflections on the Arbitration Act 1996 (AA 1996) almost 20 years on from its drafting and coming into force: had the AA 1996 proven fit for purpose? Continue reading
Two recent cases considered by the English High Court remind us that state immunity issues are critical in arbitration-related enforcement proceedings. In both cases, the court had the opportunity to clarify the scope of certain provisions of the State Immunity Act 1978 (SIA) and the procedure to follow when filing an application without notice seeking enforcement against a state party. In both cases, the court ultimately rejected the claims to immunity raised by the state entities involved and granted enforcement of arbitral decisions. Continue reading
One of the most criticised aspects of Indian arbitration is the slow pace with which proceedings are conducted. The recent amendments to the Indian Arbitration Act 1996 seek to address this problem. This is a very positive and encouraging development for promoting India as one of the leading centres for international arbitration. Continue reading
One of the characteristics that makes arbitration so popular is the ability of the parties to choose their arbitrators, but with that comes the right to challenge the other side’s chosen arbitrator. In some cases, the challenging party may have genuine concerns over the independence and impartiality of the chosen arbitrator. In others, the challenge may be purely tactical, designed to create delay. This blog highlights some of the issues which parties considering an arbitrator challenge should bear in mind.
Securing oral evidence and obtaining documents from non-party witnesses in an arbitration may seem a tough task. Compelling a non-party to give evidence in an arbitration is clearly not the jurisdiction of a tribunal so a party has to turn to powers contained in sections 43 and 44 of the Arbitration Act 1996. Continue reading
You’ve lost the arbitration…now what? Most arbitration awards are voluntarily complied with, and (according to the latest QMUL international arbitration survey) enforceability of awards is the most valued aspect of arbitration. Nevertheless, the law reports are littered with decisions on enforcement (or non-enforcement) of arbitration awards, and enforcement sagas such as those in the Sedelmayer, Yukos and Micula cases provide vivid illustrations of the fact that the issue of the award isn’t necessarily the final bell. Continue reading
It is no secret that Russia is not among the most popular venues for international commercial arbitration. There may be many reasons for this, including purely logistical ones (such as visa requirements and lack of appropriate hearing centres). Nevertheless, in addition to considerations of convenience, the real reason is likely to be users’ concern regarding the overly interventionist approach of the Russian courts.
Ever since the European Commission and the European Parliament started to get involved with investment protection and investor-state dispute settlement (ISDS), investment treaty arbitration has increasingly come under pressure. Continue reading
We were delighted to co-host a breakfast seminar on Wednesday 9 March with Mishcon de Reya on one of the hot topics of the moment: third party funding (TPF) in arbitration. Continue reading