Baker McKenzie has launched the Arbitration Bill Progress Tracker, hosted on Global Arbitration News. The Tracker provides an overview of the Arbitration Bill, a guide to the key proposed changes and implications if the Bill is passed, and maps out the Bill’s progress, which will be updated regularly.The UK government asked the Law Commission to review the Arbitration Act 1996 to determine whether any amendments are required in order to ensure that the Act remains…
On 4 September 2023, the Swiss Federal Tribunal Court (“SFSC”) decided on appeals raised against three closely linked…
Baker Hughes Saudi Arabia Co. v. Dynamic Industries, Inc., Civ. A. No. 2:23-cv-1396 (E.D. La. Nov. 6, 2023)[1]…
Factual Background In 2012, Mr. X bought a catamaran put up for sale by Mr. Y, who owned this catamaran through a British Virgin Islands company called Song Saigon Ltd. Mr. X acquired the catamaran for EUR 1.22 million through two agreements successively signed with Song Saigon Ltd in the form of a memorandum of agreement (MoA) and a share sale and purchase agreement (SSPA), under which Mr. Y transferred all of his shares in…
On 28 September 2022, the French Cour de Cassation rendered an important and awaited decision for the international…
Jiangsu Beier Decoration Materials Co. v. Angle World LLC, No. 21-3143 (3d Cir. Nov. 3, 2022)[1] Factual Background…
The Superior Court of Justice (“STJ”), which is the highest court in Brazil for non-constitutional matters, has recently decided that a party under bankruptcy cannot submit a dispute under a contract subject to arbitration clause directly to the judicial courts, so that the issue on whether the bankruptcy adversely affects the validity and enforceability of the arbitration clause shall be first resolved in arbitration. Special Appeal 1.959.435, which was judged on August 30, 2022, analyzed…
Arbitration is the most popular choice for dispute resolution in multinational commercial agreements.[1] At times, relevant arbitration clauses…
Olin Holdings Ltd. v. State of Libya, No. 21-CV-4150 (S.D.N.Y. Mar. 22, 2022)[1] In the 1990s, Libya made…
Citigroup Inc. v. Sayeg, No. 21-cv-10413 (S.D.N.Y. Jan. 20, 2022)[1] Factual Background Luis Sebastian Sayeg Seade (“Sayeg”) was employed by Banco Nacional de México, S.A. (“Banamex”), a wholly-owned indirect subsidiary of Citigroup, organized under the laws of Mexico with a principal place of business in Mexico. During Sayeg’s employment with Banamex, Citigroup had in place various incentive plans (the “Plans”), which granted incentive compensation to its employees. All of the Plans contained arbitration clauses. Sayeg’s…