Arbitration in Hungary is governed by Act LX of 2017 on Arbitration (the “Arbitration Act”), which replaced Act No. LXXI of 1994 on Arbitration. The old arbitration act followed the principles set out in the 1985 UNCITRAL Model Law and therefore one of the main reasons for the review and recreation of the act on […]
International Arbitration in V4 Countries
V4 Countries, also known as the Visegrad Group, is a political and cultural alliance formed in 1991 by four Central European countries – the Czech Republic, Hungary, Poland and Slovakia. International arbitration in V4 countries is not a centralised matter. Consequently, this area is subject to the legislation of each State. This blog provides a […]
Limits to the Police Powers Doctrine
According to the police powers doctrine, host States may enforce their laws against the foreign investors without being liable of any wrongdoing. For example, a host State may revoke a concession granted to an investor if the latter does not comply with laws of the former. The tribunal in Quiborax v. Bolivia agreed with the […]
Recent ICSID Cases Discussed in the Investment Arbitration Reporter
February 28, 2013 (Vol. 6, No. 5) 1. First hearing in Philip Morris v. Australia arbitration is pushed into 2014, as New Zealand reveals it is awaiting outcome of Australian cases 2. Effort fails in bid to disqualify former Argentine official Gabriel Bottini in Saint-Gobain v. Venezuela arbitration 3. Sri Lanka breached BIT due to […]
Can Russian Investors Initiate Arbitration Against Cyprus to Recover their Losses?
Many Russian depositors are facing losses of up to 40 percent in Cyprus, and are currently considering their legal options. Should one of these options be initiating an investment treaty arbitration against Cyprus for expropriation on the basis of the 1997 Russian Federation-Cyprus bilateral investment treaty, which is included here: IAA-Bilateral-Investment-Treaty-Between-Russia-and-Cyprus. Such a claim could most […]