In addition to its human toll, the current conflict involving Iran creates immediate commercial and legal challenges for companies operating in the Middle East. It directly affects contract performance, payment flows, shipping, energy supply and dispute resolution. In sectors such as energy, infrastructure, commodities and maritime transport, these impacts are already tangible, appearing in delayed […]
Arbitration Updates: Malaysia’s 2026 Arbitration Reform
Malaysia’s arbitration framework has undergone significant reform with effect from 1 January 2026, when the Arbitration (Amendment) Act 2024 (the “2024 Act”) entered into force and introduced substantial changes to the Arbitration Act 2005 (as previously amended) (the “2005 Act”). At the same time, Malaysia’s principal arbitral institution, the Asian International Arbitration Centre (Malaysia) (the […]
Import of Sigma Constructores, S.A. v. Republic of Guatemala
The enforcement of arbitral awards against sovereign states in the United States is governed by a carefully structured statutory framework rooted in the New York Convention, and its implementation through Chapter 2 of the Federal Arbitration Act and the Foreign Sovereign Immunities Act of 1976 (FSIA). An arbitral award, although binding, does not automatically carry […]
What Options Remain for Investor-State Arbitration Under the ECT?
This note deals with the current legal framework of investor-State arbitration under the Energy Charter Treaty (the “ECT”). The landscape of the application of the ECT has become blurry after several major developments in recent years: withdrawals, modernisation of the ECT, not to mention the impact of the Komstroy decision,[1] which has by no means […]
London Commercial Court: ICSID Awards Are Not Assignable (Operafund v Spain)
In Operafund Eco-Invest SICAV Plc and Schwab Holding AG v Kingdom of Spain [2025] EWHC 2874 (Comm), the English Commercial Court held that awards rendered under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“ICSID Convention”) or the Energy Charter Treaty 1994 (“ECT”) are not assignable to third […]