The ICC Taskforce on Financial Institutions and International Arbitration, led by Co-Chairs Georges Affaki and Claudia Salomon, recently released a Report on the use of arbitration as a dispute settlement method in resolving financial disputes, i.e., banking and finance arbitrations, showing that arbitration could be used at a much larger scale bringing numerous benefits to […]
Commercial Arbitration in Saudi Arabia: Saudi Center for Commercial Arbitration
The Kingdom of Saudi Arabia, the largest economy in the Arabian Gulf, has seen significant positive developments for commercial arbitration in Saudi Arabia over the past few years. We previously reported on the New Saudi Arbitration Regulations passed in 2012. However, another important development was the opening of the Saudi Center for Commercial Arbitration (SCCA)[2], […]
Court for Arbitration for Sports (CAS): Serbia v. Kosovo, Round 2.
There have been interesting developments at the Court for Arbitration for Sport (CAS) based in Lausanne, Switzerland: a more political than legal dispute only adding to the worsening of Serbia’s and Kosovo’s already tense political relations. In May 2016, Kosovo became 55th Member of the UEFA by a decision passed by 28 to 24 votes. […]
Judgment-Proof Claimants in ICSID Arbitration
The issue of judgment-proof claimants in ICSID arbitration has recently been a focus of attention. As a matter of fact, the Republic of Panama sent a memorandum to ICSID on 12 September 2016, available below, exposing the difficulties of sovereigns being unable to collect costs awards in their favour and requesting the ICSID to examine […]
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 […]