In the well-known case Encana v. Ecuador, the Arbitral Tribunal refused to order interim measures on the basis of there being no irreparable damage. On January 8, 2004, Claimant requested an urgent hearing of an application for interim relief regarding the enforcement of certain measures that the Ecuadorian government had taken against one of its […]
The Enforcement of ICSID Awards
The recognition and enforcement of ICSID awards is governed by Articles 53, 54 and 55 of the ICSID Convention. A party who seeks enforcement of an ICSID award may do so in any ICSID Contracting State, under the same conditions, and may simultaneously do so in more than one State.[1] The choice of enforcement forum […]
Arbitration Institutions in Serbia
The largest and oldest of the arbitral institutions in Serbia was the Foreign Trade Court of Arbitration, established in 1947, which is an independent entity within the Serbian Chamber of Commerce and Industry. In addition, another arbitration institution under the same Chamber which existed was the Permanent Court of Arbitration. As of 30 June 2016, […]
Successful State Counterclaims in Investor-State Arbitration : The Case of Burlington Resources Inc v. the Republic of Ecuador
Successful State counterclaims in investor-State arbitration were found on 7 February 2017. The counterclaims were brought by Ecuador in response to claims by Burlington Resources Inc, a U.S.-based foreign investor. In its counterclaims, Ecuador alleged breach of its national environmental law by Burlington Resources and breach of contractual obligations and sought USD 2.8 billion in […]
Choice of Law in International Commercial Arbitration
One perk of international arbitration is the possibility to avoid choice-of-law complexities that inevitably arise in an international dispute, although choice of law in international commercial arbitration can pose an issue. There are four different choice-of-law issues in international arbitration that arise: Determination of the substantive law applicable to the merits of the case Determination […]