RUSSIA’S STRATEGY NOT TO RESPOND SUBSTANTIVELY TO QUANTUM IN THE YUKOS ARBITRATION In order to help the Tribunal reach a proper valuation of Yukos Oil Company, Claimants put forward 13 possible scenarios. The claims ranged from USD 30 billions to USD 114 billions (Final Award, para. 1701 – 1710) and the three main sets of […]
Collective Arbitration Against Russia By Ukrainian Businesses Expropriated In The Crimea
Collective Arbitration Against Russia By Ukrainian Businesses Expropriated In The Crimea Is collective arbitration against Russia for the expropriations of Ukrainian assets occurring in Crimea possible? An article in the New York Times dating from 11 January 2015 notes that the plunder of Ukrainian-owned assets is continuing in the Crimea on a large scale today. Armed forces known as the “people’s militia” are invading […]
The ICSID Arbitration Rules (Current As Of June 2014)
The ICSID Arbitration Rules (Current As Of June 2014) The ICSID Arbitration Rules are used for resolving investor-State arbitrations brought under the auspices of the International Centre for Settlement of Investment Disputes (“ICSID”), which is the arbitration arm of the World Bank. The ICSID Arbitration Rules were last updated in 2006, following public criticism of […]
12 Years Of The ILC Draft Articles on State Responsibility
It took the International Law Commission approximately four decades to complete its work on State responsibility, which was completed in 2001. This work represented a highly significant step in the codification and development of international law, with similar importance as the Vienna Convention on the Law of Treaties. These Articles cover the issues of breach […]
Argentina Will Withdraw from the ICSID Convention
Argentina has announced that it will withdraw from the ICSID Convention, following in the footsteps of other South American nations, such as Bolivia, Ecuador and Venezuela. The chief legal advisor to Argentine’s Treasury is leading this project, and he called ICSID “a tribunal of butchers” that always favors multinational companies. Argentina currently faces 43 claims, […]