Month: February 2021

A Guide to the IBA’s Revised Guidelines on Conflicts of Interest

The IBA recently revised its Guidelines on Conflicts of Interest in International Arbitration. This was the culmination of a review by the IBA Arbitration Committee, which began in 2012. The salient changes address the rise of advance declarations by arbitrators; third-party funding; increasing significance of arbitral secretaries; and the possibility that an arbitrator, and counsel …

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How far do the new LCIA Guidelines for Parties’ Legal Representatives and the IBA Guidelines on Party Representation go?

“To the question: What are the professional rules applicable to an Indian lawyer in a Hong Kong arbitration between a Bahraini claimant and a Japanese defendant represented by New York lawyers, the answer is no more obvious than it would be in London, Paris, Geneva and Stockholm. There is no clear answer” The conundrum identified …

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British Virgin Islands: A new arbitration centre in the Caribbean?

The British Virgin Islands (BVI) passed a new arbitration law in December, including provisions for setting up a new international arbitration centre. Ben Knowles, global head of dispute resolution, considers some of the factors that may affect the success of arbitration in the territory. The longer established arbitration centres such as London, Paris and New …

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To Forfeit or not to Forfeit? ? Enforceability of Forfeiture Clauses in Oil and Gas Joint Operating Agreements (JOA)

A recent arbitration award has highlighted the question of the enforceability of forfeiture provisions in oil and gas JOAs. The effect of such provisions is that a defaulting party forfeits its participating interest (?PI?) in a project on account of a default, such as a failure to pay a cash call. We look at some …

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The US$50 billion Yukos award overturned ? Enforcement becomes a game of Russian roulette

Introduction The Hague District Court ruled on 20 April 2016 to reverse a PCA tribunal?s decision against Russia to pay damages in excess of US$50 billion to the former majority shareholders of Yukos Oil Company, which was once the largest oil company in Russia. The Hague Court held that there was no valid arbitration agreement …

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Challenging the United Nations? sanctions before domestic courts

In June 2016, the European Court of Human Rights (ECtHR) delivered a significant judgment in Al-Dulimi and Montana Management Inc. v. Switzerland in which it held that there had been a violation of the applicants? right to a fair trial (Article 6(1) of ECHR), because Swiss Courts did not provide meaningful judicial review of the applicants? listing …

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Spotlight on International Arbitration as a Means of Settling Disputes Arising from Climate Change

Introduction ?Essentially what is at stake at this climate conference is peace?. Those were the words uttered by French President Fran?ois Hollande to signify the importance of COP21 ? the 21st Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCC) held in Paris to address climate change in December 2015. Indeed, …

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