A new Croatia ICSID arbitration was registered on 16 September by UniCredit Bank Austria, a Vienna branch of Italian banking group UniCredit and its subsidiary Zagrebacka Banka. This is the first case against Croatia over controversial legislation intended to protected borrowers by converting loans and mortgages in Swiss francs to Euros. In September 2015, Croatia passed […]
New Russian Arbitration Law
A new Russian arbitration law has entered into force. On 29 December 2015, Russia signed the Law on Domestic Arbitration in the Russian Federation (“DCA Law”) with the Law on amendments coming into effect on 1 September 2016. It replaces the Law of the Russian Federation No. 5338-1 on International Commercial Arbitration of 7 July 1993, […]
Emergency Arbitrator Award
Most arbitration rules of the leading arbitration institutions have today introduced the possibility of appointing an Emergency Arbitrator who will decide on Interim Measures (including the ICC, the LCIA, the SIAC, the HKIAC and the SCC). These rules are being increasingly used by parties to request interim measures. The Arbitration Institute of the Stockholm Chamber […]
The Role of the Arbitral Tribunal Assistant in the Yukos Awards
When The Hague District Court annulled the Yukos awards on 20 April 2016 for a lack of a valid arbitration agreement, it did not consider it necessary to rule on the other grounds raised by the Russian Federation, in particular the argument that the Tribunal failed to personally fulfill its duty because of the alleged […]
Yukos Awards Annulment by The Hague District Court
The Yukos Awards annulment surprised many. In the Final Award rendered on 18 July 2014, after 10 years of proceedings, the Arbitral Tribunal unanimously ruled that the Russian Federation had taken measures having an effect equivalent to nationalization or expropriation under the ECT and granted Claimants (Yukos Universal Limited, Hulley Enterprises Limited and Veteran Petroleum Limited) […]