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'.
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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.