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) […]
The Enforcement of Arbitral Awards in the UAE
The United Arab Emirates (‘UAE’) ratified the New York Convention in July 2006. There are two ways to enforce foreign arbitral awards in UAE. The recommended one is using the two-level civil court system of the Dubai International Financial Centre (DIFC), since the DIFC courts are generally pro-arbitration and can be expected to enforce a […]
International Arbitration Tribunal
The international arbitration tribunal is the independent and non-governmental panel of independent and impartial experts most often composed of three members nominated by the Parties (or appointed by the international arbitration institution, or more rarely by a national court) on the basis of their legal and practical expertise and knowledge, to render a final and […]
The New York Convention
The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (New York Convention) is a key instrument in the efficiency of international commercial arbitration. The New York Convention requires all contracting parties, over 160 states in 2016, to recognize and enforce international arbitration agreements on the one hand, and international […]
International Arbitration Agreements
International arbitration agreements usually take the form of clauses in commercial contracts or investment treaties by which the Parties agree to arbitrate future disputes (agreement to compromise). International arbitration agreements are stand alone contracts which, according to the separability doctrine, will survive the underlying contract which contains them in the event that such contract is […]