The ICC Taskforce on Financial Institutions and International Arbitration, led by Co-Chairs Georges Affaki and Claudia Salomon, recently released a Report on the use of arbitration as a dispute settlement method in resolving financial disputes, i.e., banking and finance arbitrations, showing that arbitration could be used at a much larger scale bringing numerous benefits to […]
New English Court Decision Regarding Third-Party Funding Cost Recovery in Arbitration
In 2008, Norscot Rig Management Pvt Limited (“Norscot”), the Claimant, successfully brought a claim in arbitration before the ICC in London, against Essar Oilfield Services Limited (“Essar”), the Respondent. The Arbitrator (Sir Philip Otton) held that the Respondent had breached an operation management agreement relating to an offshore drilling platform and thus was liable to pay over […]
Multiparty Arbitrations under the 2014 LCIA Rules
The last decade has seen a rising number of arbitrations involving two or more parties. So-called complex and multi-party arbitrations raise numerous practical issues in international arbitration, involving but not limited to the questions of who are the parties to an arbitration agreement, the possibilities of an “extension” of an arbitration agreement, the joinder of a third party, the consolidation of […]
Challenge of an ICC Arbitrator under the 2012 ICC Rules: Which Criteria does the ICC Court Apply?
Which criteria does the ICC Court apply when deciding arbitrator’s challenges? This is an interesting question with no straightforward answer, especially taking into account that the ICC Court has yet to begin publishing decision on challenges, although it has recently begun providing its reasoning to Parties with respect to its decisions on challenges. The 2012 ICC […]
ICC Emergency Arbitrator Rules
The 2012 ICC emergency arbitrator rules extend the advantages of arbitration to parties who are in urgent need of interim measures before an arbitral tribunal has been constituted. Before, parties had to seek such measures from State courts, which was not always possible or desired. An application for Emergency Measures can be filed prior to the Request for Arbitration under the ICC […]