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 […]
Change of Arbitration Attorney under the LCIA Rules
As before national courts, parties’ right to choose their own arbitration attorney is a fundamental procedural right[1] that is confirmed by Article 18.1 of LCIA Rules (2014)[2] The new LCIA Rules (2014) represent the first institutional rules that limit this inherent power of the parties, in order to better conduct arbitral proceedings. Article 18.3 of the […]
Arbitration Clause Tips
The “arbitration clause” or the “arbitration agreement” is the provision in a contract that allows the parties to have their dispute resolved by an arbitral tribunal instead of ordinary State courts. An arbitration clause is binding and the parties cannot renounce unilaterally to the jurisdiction of the arbitral tribunal. In order to draft an effective […]
International Arbitration Agreements
International arbitration agreements usually take the form of clauses in commercial contracts or investment treaties by which the Parties agree to arbitrate future disputes (agreement to compromise). International arbitration agreements are stand alone contracts which, according to the separability doctrine, will survive the underlying contract which contains them in the event that such contract is […]
Investment Disputes: The Role of Third Party Funders
The Role of Third Party Funders in Investment Disputes In investment disputes, when the claimant decides to pull the trigger and bring forward, one can wonder what his options are to finance the arbitral proceedings. Claimants most often do not have much capital left and are in a distressed financial situation but their claims have […]