The Subcommittee on Recognition and Enforcement of Arbitral Awards conducted over 2014/2015 a comparative study on 'public policy' as a defence to the recognition and enforcement of arbitral awards under the New York Convention. For such purpose, the Subcommittee has solicited and received reports from Arbitration Committee members reporting jurisdiction by jurisdiction on the treatment of public policy by the domestic courts in the context of enforcement of foreign arbitral awards.
The 2015 International Arbitration Survey (download) conducted by Queen Mary University of London (QMUL) is the third survey carried out in partnership with White & Case. The theme of this year's survey is improvements and innovations in international arbitration. The survey examined the effectiveness of past innovations and what could be improved in the future.
- 90% of respondents surveyed prefer international arbitration to resolve cross border commercial disputes.
- London and Paris are the most preferred venues for international arbitration. Hong Kong and Singapore are gaining momentum and are now ranked third and fourth.
- Initiatives to further improve the efficiency of the arbitral process are welcomed. Arbitrators and arbitration counsel need to be more proactive in promoting efficiency, not just arbitral institutions.
- 70% of respondents think there is an adequate amount of regulation although specific areas require further 'micro-regulation'.
Download White & Case infographic summary:
Retrieved from White & Case
Misen Energy AB (publ) (“Misen”) has submitted an investment dispute notice to the Government of Ukraine under the Ukrainian Swedish Bilateral Investment Treaty (“BIT”). Misen notified Ukraine that a dispute has arisen between it and Ukraine concerning Misen’s investment in Ukraine, and invited Ukraine to resolve the dispute by consultation and negotiation.
Eastern Europe-focused junior energy firm JKX Oil & Gas announced Monday that it has launched arbitration proceedings against the Ukrainian government under the Energy Charter Treaty – a bilateral investment treaty between the UK and Ukraine. JKX is looking to recover more than $180 million in rental fees that its Ukrainian subsidiary has paid on production of oil and gas in Ukraine since 2011. JKX said it is seeking compensation for "losses it has suffered from Ukraine's treaty violations", including "Ukraine's failure to treat JKX's investments in a 'fair and equitable' manner and failing to comply with commitments made by Ukraine in respect of JKX's investments."
Oxford University Press made Arbitration International Journal's archive temporarily available for free reading and downloading full pdf articles.
Launched in 1985, Arbitration International provides quarterly coverage for national and international developments in the world of arbitration. The journal aims to maintain balance between academic debate and practical contributions to the field, providing both topical material on current developments and analytic scholarship of permanent interest. Arbitrators, counsel, judges, scholars and government officials will find the journal enhances their understanding of a broad range of topics in commercial and investment arbitration.Launched in 1985, Arbitration International provides quarterly coverage for national and international developments in the world of arbitration. The journal aims to maintain balance between academic debate and practical contributions to the field, providing both topical material on current developments and analytic scholarship of permanent interest. Arbitrators, counsel, judges, scholars and government officials will find the journal enhances their understanding of a broad range of topics in commercial and investment arbitration.
Ukraine is awaiting the ruling of the Stockholm arbitration court concerning the temporary gas price in the gas dispute with Russia to appear late in November 2014, Ukrainian Prime Minister Arseniy Yatsenyuk has said.
Ukrainian state-run energy firm Naftogaz and Russian state-controlled gas firm Gazprom have both lodged cases with the Stockholm arbitration tribunal to review their gas transit contracts. All debt payments, on which Russia has been insisting, will be made only after a verdict from the International Court of Arbitration in Stockholm - (Reuters).
By Konstantin Pilkov, Cai & Lenard
Ukraine has a reputation of a country with an imperfect justice system. No wonder that the country is also pictured by many arbitration practitioners as one unfriendly to arbitration, though refusals to grant the leave for enforcement of arbitral awards in Ukraine are relatively rare – 10% and 18% of all requests considered in 2013 and 2014 respectively, according to the Statistical Report “Ukraine. Arbitration-friendly jurisdiction: 2013-2014” prepared by Cai & Lenard.
(Full article available at Publications).
I. General Aspects of Enforceability
English Worldwide Freezing Order (“WFO”) being called by Matthias Scherer and Simone Nadelhofer one of the “nuclear weapons” of commercial litigation and arbitration, is a preliminary injunction preventing a defendant from disposing of assets pending the resolution of the underlying substantive (arbitration or court) proceedings. Its issue in support of an arbitration proceeding significantly impacts further enforcement of an award. However, as WFOs are often sought without prior notice to the defendant, their recognition and enforcement may become problematic. Ukrainian courts only recently were addressed issues related to enforceability of WFOs.
The London Court of International Arbitration (LCIA) is pleased to announce that the new LCIA Arbitration Rules have been formally adopted by the LCIA Court and the LCIA Board of Directors. The Rules will come into effect on 1 October 2014.
The new Rules ensure an effective, efficient and fair process. Notable changes in the Rules include provisions on consolidation and on conduct of legal representatives and parties, as well as expanded provisions on emergency relief.
When lawyer says "lawesome" it means awesome and does not break the law
(extract from Konstantin Pilkov. Evidence in International Arbitration: Criteria for Admission and Evaluation. Arbitration. – 2014. – Vol. 80. – Issue 2 2014)
It is commonly recognised that the admissibility of evidence does not automatically guarantee that the evidence will be considered as having probative value. There are more or less explicit relevance, admissibility and materiality criteria for determining whether a piece of evidence is admissible, whereas the methods for weighing evidence and determining the sufficient level of proof are subjective and somewhat inexplicable. The weight of the evidence usually refers to its persuasive effect on the arbitrator’s mind. It is within the discretion of the tribunal to evaluate the evidence submitted by the parties, though the parties can agree on the sufficiency, as will be discussed later.
The weight of the evidence includes questions of credibility (reliability) and the evaluation of inferences which can be made from the evidence.
Mootus is a free online moot court platform that allows students or lawyers to compete legal issues As announced by owners of the platform, Mootus was aimed at helping law students and lawyers build skills, reputation and knowledge for free through open, online legal argument.
The International Centre for Settlement of Investment Disputes (ICSID) is pleased to announce the AnnualICSID Review—Foreign Investment Law Journal Student Writing Competition.
Assignment of benefits of arbitral awards is a standard business practice worldwide, undertaken by companies involved in international trade and supported by credit insurers. However, this practice may face some obstacles in Ukraine considering contradictory and poorly developed court practice of granting leave for enforcement upon an application submitted by any person other than a person who was the party to arbitration. Courts are rather formalistic in deciding on that matter as Ukrainian laws do not directly envisage the possibility to an application for leave to enforce an international arbitration award to be submitted by any person other than a creditor (the meaning of this term is sometimes narrow, so that it is understood as a synonym to a party to arbitration). Actually, until recently there are not so many court cases, if any at all, in which the matter of assignment of benefits of arbitral award was clearly addressed.
New version of the International Dispute Resolution Procedures (Including Mediation and Arbitration Rules) as well as amended Fee Schedule become effective on June 1, 2014