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) […]
Valuation of Lost Dividends in Investment Arbitrations
The valuation of lost dividends as determined by the arbitral tribunal in Yukos is indicative of how lost dividends may be calculated in investment treaty arbitrations. The Arbitral Tribunal Used its Own Methodology to Calculate Dividends After determining that Yukos’ Equity value in 2014 was USD 42 billion (on the basis of Yukos’ Equity value in 2007, […]
Contributory Fault And The Calculation Of Damages In Investment Arbitrations
The Yukos Arbitration, the largest arbitration award to date, provides insight into the manner in which contributory fault and the calculation of damages may be determined in investment arbitrations. The Arbitral Tribunal in the Yukos arbitration reduced the final amount to be awarded to Claimants by 25% for contributory fault because of their abuse of the […]