Is there a duty to disclose third party funding in international arbitration? In the resolution of disputes through international arbitration, whether it involves cases of Investment or Commercial Arbitration, parties increasingly resort to so-called “third party funding” (“TPF”). TPF provides prospective parties to a dispute with the ability to request financing from other entities to […]
European Court of Human Right Judgement Ruled Unenforceable in Russia – Consequences for Yukos Investment Arbitration Awards
On 19 January 2017, Russia’s Constitutional Court ruled that the State was not under an obligation to comply with the European Court of Human Rights (“ECtHR”) Judgement in the Yukos Case, which awarded approximately EUR 1.9 billion in compensation to the company (the largest in the ECtHR’s history), because of Russia’s breach of the European […]
From International Investment Arbitration to an Investment Court System
Will an Investment Court System be better than the current arrangements for International Investment Arbitration? The EU and Canada appear to think so. In the recently-approved and signed Comprehensive Economic and Trade Agreement between the European Union (EU) and Canada, a different approach to International Investment Arbitration is being put forward by the EU and […]
British Virgin Islands International Arbitration Centre
A new British Virgin Islands International Arbitration Centre (“BVI IAC”) was launched on 16 November 2016. This arbitration institution describes itself as an “independent not-for-profit institution” that was created to provide a “neutral, impartial, efficient and reliable dispute resolution institution in the Caribbean, Latin America and beyond.”[1] It was only on 25 May 2014 that […]
Indonesia ICSID Arbitration Found Inadmissible Due to Fraud
An Indonesia ICSID arbitration has been found to be inadmissible on the basis of fraud. By an award on 6 December 2016, the Arbitral Tribunal of the International Center for Settlement of Investment Disputes (ICSID) rejected Churchill Mining and Planet Mining Pty Ltd’s claim for compensation (USD 1.95 billion) against the Republic of Indonesia under […]