The importance of long-term contracts in various industries has grown significantly. These agreements feature an extended duration, exhibit complexity, and establish interconnected reliance between the parties. Long-term contracts often govern relationships in sectors such as mining, telecommunications, and oil and gas, where cooperation over a prolonged period is essential. Given the extended nature of these […]
Frivolous Claims in Arbitration: ICSID Rule 41(5) and Rule 41
If a Claimant submits a request for arbitration to the International Centre for Settlement of Investment Disputes (ICSID), according to Article 36(3) of the ICSID Convention, its request will be registered, and the case will proceed unless the Secretary-General finds, on the basis of the information contained in the request, that the dispute is manifestly […]
Taxation of International Arbitration Awards
The taxation of damages in international arbitration awards should be a significant consideration for any party embroiled in an arbitrable dispute. According to Keller and Leikin, the average tax liability in cases heard before tribunals established under the International Convention for Settlement of Investment Disputes (the “ICSID”) is an eye-watering USD 16-38.5 million.[1] Nevertheless, the […]
Loan Agreements and International Arbitration
Globalisation led the world to make international transactions and cross-border loan agreements. Any breach could not be resolved solely locally. The need for an international solution evolved. The only method that could end international confusion appeared to be arbitration. Thus, international arbitration is increasingly recognised as a preferred forum for resolving disputes concerning international loan […]
Arbitration in North Macedonia
North Macedonia, a dynamic and evolving jurisdiction in Southeast Europe, is governed by a legal framework that aims to facilitate dispute resolution in both commercial and investment contexts. The arbitration regime in North Macedonia was enhanced when, in 2006, the North Macedonian government passed a new modern law, the International Commercial Arbitration Act. This legislation […]