In 2015, as a result of the increase of Brazilian investment overseas, the Brazilian government, in consultation with private entities, elaborated so-called Cooperation and Facilitation Investment Agreements (“CFIA”s – or “ACFI” in its Portuguese acronym). The CFIA’s aim was to facilitate and stimulate reciprocal investments between States, especially in strategic sectors, much like the Bilateral […]
Arbitration Proceedings without an Arbitration Clause
Introduction Many fail to realise that arbitration proceedings are entirely possible in the absence of an arbitration clause in an underlying contract. The ability to launch arbitration proceedings depends exclusively on the parties’ will since this dispute resolution method is purely consensual. The required will (or consent to arbitration) is often, but not always, encompassed […]
Arbitration in Brazil
Arbitration in Brazil has developed significantly over recent decades. The latest ICC statistical report for the year 2016 shows an increasing number of Brazilian parties using arbitration, with 123 Brazilian parties compared to 112 in 2014, placing Brazil in 3rd place in party-rankings worldwide. Brazil is today described as having a pro-arbitration legal regime and […]
ARBITRATION AND RICO CLAIMS: FINAL AWARD IN ICC CASE N. 6320 (1992)
This ICC arbitration concerns arbitration and RICO claims, arising in the context of a plant built in Brazil. By way of background, a Contract was entered into in 1972. The Contract was governed by Brazilian law and the seat of arbitration was agreed to be Paris. The parties, Furnas, a Brazilian company (Claimant) and a […]
Chevron Wins Arbitration Victory Against Ecuador
Below, please find a solid non-legal summary of the latest state of the long-running Chevron v. Ecuador arbitral proceedings, one of the messiest and most interesting investment treaty arbitrations to have occurred over the past decade. – William Kirtley In an apparent coup for the oil giant’s efforts to undermine a $19 billion environmental judgment […]