Over the past year, several arbitration institutions have released summaries of data regarding the cost and duration of arbitration. Such institutions include the London Court of International Arbitration (“LCIA”) (data from 3 November 2015), the Arbitration Institute of the Stockholm Chamber of Commerce (“SCC”) (data from 24 February 2016) and the Singapore International Arbitration Centre […]
New Arbitration Centre in India
A new arbitration centre in India is opening in the Indian city of Gurugram, located just southwest from New Delhi. The initiative for this new arbitration centre came from the Punjab and Harayana High Court. Although due to lengthy administrative procedures and government approvals it might take a few years for it to become operative, […]
Arbitration in Switzerland: New Developments
Arbitration in Switzerland is regulated by the Federal Law on Private International Law, in force since 1989 and amended once, in 2011. Earlier this year, on 11 January 2017, the Swiss Federal Council decided to publish a report proposing a certain number of amendments to the Federal Law on Private International Law, which is included […]
European Court of Human Right Judgement Ruled Unenforceable in Russia – Consequences for Yukos Investment Arbitration Awards
On 19 January 2017, Russia’s Constitutional Court ruled that the State was not under an obligation to comply with the European Court of Human Rights (“ECtHR”) Judgement in the Yukos Case, which awarded approximately EUR 1.9 billion in compensation to the company (the largest in the ECtHR’s history), because of Russia’s breach of the European […]
ICC Expedited Arbitration – Addressing Delays, Costs and Efficiency
On 4 November 2016, the ICC announced its amendments to the ICC Rules of Arbitration, applicable from March 2017, which includes Annex VI on the new ICC Expedited Arbitration Procedure. According to the Secretariat, the introduction of this procedure aims to address business concerns about the time and costs associated with an ICC Arbitration, by […]