On 18 December 2017, three of Spain’s most prominent arbitration centers signed a memorandum of understanding as a first step towards their unification. This is another of the efforts of the Spanish Government in an attempt to make Spain a more appealing center for international arbitration which would rival Paris, London, Singapore, Hong Kong and […]
Colombia Arbitration Proceedings: Fool’s Gold?
What connects General José Fernández de Santillán, emeralds and Colombia arbitration proceedings? More than one would think. If Mr. Fernandez de Santillán had defeated the British squadron on 8 June 1708, the myth of a galleon carrying vast amounts of treasure would never have been born. One of the most interesting recent international arbitrations would […]
Spain Energy Treaty Arbitrations Continue
On 12 August 2016, another Spain energy treaty arbitration under the Energy Charter Treaty was registered at the ICSID. The claimants are two Dutch companies, Cordoba Beheer B.V. and Sevilla Beheer B.V., together with Cross Retail S.L and Spanish Project companies, both registered in Spain.[1] This case is just another in line with dozens of arbitrations […]
Rectification of ICSID Awards
The rectification of an award under Article 49(2) of the ICSID Convention is a remedy for inadvertent omissions and minor technical errors in an award. It enables the arbitral tribunal to correct mistakes that may have occurred in the award’s drafting in a non-bureaucratic and expeditious manner. Such corrections are provided for in Article 49(2) of the ICSID Convention: […]
States That Are Not Parties To The New York Convention
The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly called the New York Convention, entered into force on 7 June 1959 and is the bedrock of modern international arbitration. This important international convention requires courts of the 159 contracting States (with Sudan becoming the latest member in 2018) to give effect to […]