OVERVIEW OF THE YUKOS ARBITRATION Few arbitration awards in the past years have attracted as much attention as the Yukos arbitration between shareholders of the company and the Russian Federation. After 10 years of proceedings, on 18 July 2014, the Tribunal issued a 600-page award awarding USD 50 billions in damages, legal fees of USD […]
The ICC Rules of Arbitration (2012)
ICC Rules of Arbitration (2012) These ICC Rules of Arbitration are current as of June 2014. The ICC Rules of Arbitration may be used internationally to resolve international commercial arbitrations as well as to resolve investment treaty arbitrations in certain cases. They are appropriate to be used for nearly all international business disputes. A full-text version of the […]
Only 2% Of The Costs Of ICC International Arbitrations Are Due To The ICC
The ICC is often referred to as the gold standard of international arbitration, and it has acquired a reputation as being more expensive than other international arbitration institutions. This reputation is in fact undeserved, as it is not ICC arbitration itself that is expensive, but the costs borne by the parties to present their case. […]
International Arbitration Hubs And Price Competition
International Arbitration Hubs And Price Competition. International arbitration hubs exist in Paris, London, Dubai, Singapore, Hong Kong and Washington, where many lawyers practicing international arbitration are found in the same city. Many other cities, such as Istanbul, are attempting to become international arbitration hubs today. This is curious, as international arbitration is a unique field […]
The Importance Of The Seat Of Arbitration
Choosing an appropriate “seat” or “place” of arbitration is critical. There are a few common misconceptions with respect to the seat. The seat need not be the same as the governing law of the contract, or be based in the same place as the chosen arbitral institution. Thus, there is no reason why a contract […]