Security For Costs In ICSID Arbitrations. For the first time, an arbitral tribunal has ordered security for costs in an ICSID arbitration. The arbitral tribunal has ordered the oil and gas exploration and production company RSM Production Corporation to provide a guarantee of USD 750,000 as security for the costs of an investment arbitration. This followed on […]
Yukos Owners Win Largest Arbitration Award In History Against Russia For “Devious And Calculated” Expropriation
Yukos Owners Win Largest Arbitration Award In History Against Russia For “Devious And Calculated” Expropriation. Yukos’ owners have won the largest arbitration award in history against Russia for what was determined by an international arbitration tribunal to be a “devious and calculated” expropriation of its assets. Russia has been ordered to pay over USD 50.2 billion to […]
THE DEVELOPMENT OF INTERNATIONAL ARBITRATION IN TURKEY by Turgut Aycan Özcan
THE DEVELOPMENT OF INTERNATIONAL ARBITRATION IN TURKEY by Turgut Aycan Özcan A. Introduction As a bridge between the Europe and the Middle East, Turkey plays an important and geopolitical role, which connects these two continents not only in the political meaning but also in the economical meaning. Thus, as a developing country, Turkey has become […]
Only 2% Of The Costs Of ICC International Arbitrations Are Due To The ICC
The ICC is often referred to as the gold standard of international arbitration, and it has acquired a reputation as being more expensive than other international arbitration institutions. This reputation is in fact undeserved, as it is not ICC arbitration itself that is expensive, but the costs borne by the parties to present their case. […]
Modifications Proposed To Russian International Arbitration Law
Russian international arbitration legislation is expected to be modified in the near future. The Russian law governing international arbitration, entitled the Law on International Commercial Arbitration, dates from 1993 and was drafted largely on the basis of the the United Nations Commission on International Trade Law (UNCITRAL) Model Law 1985, with minor variations. Largely due to the […]