Cyprus Arbitration: can depositors successfully sue Cyprus in international arbitration for the measures it took in 2013? In 2013, Cyprus introduced a number of measures to prevent its banks from becoming insolvent. Most notably, it introduced a bail-in measure whereby it converted depositors’ deposits into equity in banks. This brought new capital into banks, without […]
Answer to the Request for Arbitration Under the ICC Arbitration Rules
The Answer to the Request for Arbitration under the ICC Arbitration Rules is the first written submission that the Respondent to an arbitration must file. The Answer will typically set the main lines of the defence, which will be subsequently developed. The Request for Arbitration as well as the Answer are the documents that will give […]
Advance on Costs in ICC Arbitration
In ICC arbitration, usually upon receipt of the Answer on the Request for Arbitration or the expiry of the time limit for it[1], the Parties are required to pay an advance on costs. This payment is paramount “for the purpose of securing in advance the financial resources necessary for carrying out the arbitration procedure.”[2] The advance […]
ICSID Arbitration Rules Draft Amendments Issued
It has been 12 years since the ICSID Arbitration Rules’ latest update. ICSID Arbitration Rules draft amendments were published earlier this month. One of the overall goals of the amendments is to increase efficiency. Another is to increase transparency, especially with respect to third-party funding. These amendments may constitute the most significant changes made to […]
The 2018 Draft Netherlands Model BIT – The Beginning of a New Era?
The year 2018 may be an important milestone in international investment arbitration concerning the Netherlands due to the 2018 Draft Netherlands Model BIT (the ‘Draft’) . The Draft contains several completely new provisions, absent in the 2004 version, and provides a narrow vision of other provisions in comparison to their 2004 predecessors. We will discuss the […]