As before national courts, parties’ right to choose their own arbitration attorney is a fundamental procedural right[1] that is confirmed by Article 18.1 of LCIA Rules (2014)[2] The new LCIA Rules (2014) represent the first institutional rules that limit this inherent power of the parties, in order to better conduct arbitral proceedings. Article 18.3 of the […]
Arbitration Clause Tips
The “arbitration clause” or the “arbitration agreement” is the provision in a contract that allows the parties to have their dispute resolved by an arbitral tribunal instead of ordinary State courts. An arbitration clause is binding and the parties cannot renounce unilaterally to the jurisdiction of the arbitral tribunal. In order to draft an effective […]
Limitations on Post-Award Remedies under the ICC Rules
There are limitations on post-award remedies under the ICC Rules because one of the main reasons that private parties seek to have disputes resolved via international arbitration rather than national courts is the final and binding nature of arbitral awards. Due to human beings’ fallibility, “all arbitral awards, like all national court judgments and academic treatises, […]
Yukos Awards Annulment by The Hague District Court
The Yukos Awards annulment surprised many. In the Final Award rendered on 18 July 2014, after 10 years of proceedings, the Arbitral Tribunal unanimously ruled that the Russian Federation had taken measures having an effect equivalent to nationalization or expropriation under the ECT and granted Claimants (Yukos Universal Limited, Hulley Enterprises Limited and Veteran Petroleum Limited) […]
A Short Analysis of the Kılıç Ad-Hoc Committee’s Decision on Annulment: Can an Investor Directly Apply to International Arbitration without Resorting to Local Courts?
By Turgut Aycan Özcan & Timuçin Demir Everything concerning the Kılıç Ad-Hoc Committee’s Decision on Annulment of course started with the decision rendered in the ICSID case between a Turkish construction company, Kılıç İnşaat İthalat İhracat Sanayi ve Ticaret Anonim Şirketi (“Kılıç”), and Turkmenistan. Kılıç had filed an ICSID case (ICSID Case No. ARB/10/01) against Turkmenistan […]