In international arbitration, arbitrators enjoy a wide margin of discretion when assessing both damages and the awarding of interest. There is no uniform approach to determining the rate of interest that is awarded in arbitral awards. Often, arbitral tribunals award interest that reflects the position that a claimant would have been in, had respondent’s act […]
Depositions in International Arbitration
Depositions in international arbitration are rare but do occur. A deposition is defined as “[a] witness’s out-of-court testimony that is reduced to writing (usually by a court reporter) for later use in court or for discovery purposes”.[1] While depositions are generally associated with American pre-trial discovery, they are called for in a surprising number of […]
Initiating Arbitrations Under Multiple Arbitration Agreements
The filing of arbitrations based on multiple arbitration agreements, contained in two (or more) separate contracts, in a single arbitration proceeding may be possible, but must be done with caution. The development of major projects in the fields of engineering, construction, oil and gas, and mining often give rise to situations where related disputes regarding […]
Arbitration Under the OIC Investment Agreement
Many investors are unaware of the existence of the Agreement for the Promotion, Protection and Guarantee of Investments among the Member States of the Organisation of the Islamic Conference (the “OIC Investment Agreement”) and its provisions regarding dispute settlement. The Organization of the Islamic Conference (the “OIC”; Arabic: منظمة التعاون الإسلامي; French: Organisation de la […]
Investment Arbitration in Russia under the 2020 Investment Law
Russia has participated in several major investment arbitration cases, including the largest arbitration award ever, the so-called Yukos arbitration. However, when it realized that bilateral investment treaties (BIT’s) may have serious ramifications, most traditional investment treaty work was suspended. The newest Russian BIT, signed with Palestine, dates back to 2016. Most existing Russian BITs date […]