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Arbitration Procedure

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In Arbitration Agreements

CFPB Rule Bars Financial Firms from Using Consumer Class Action Waivers

by 3 Mins Read

The federal Consumer Financial Protection Bureau (CFPB) issued what is being labeled a “brazen” rule[1] on Monday, July 10, 2017, prohibiting financial firms from using class action waivers to manage consumer complaints and disputes.[2] As we have reported in previous client alerts and blog posts[3], the Supreme Court of the United States has previously upheld consumer arbitration clauses and class action waivers, resulting in a significant increase in the adoption of such clauses by consumer-facing…

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In Arbitration Procedure

Austrian Supreme Court set aside an arbitral award due to a violation of the procedural ordre public

by 7 Mins Read

In its decision of 28 September 2016,[1] the Austrian Supreme Court (“OGH”) partially set aside an arbitral award due to a violation of the procedural ordre public as the arbitral tribunal insufficiently reasoned its decision as to one request filed in the arbitral proceedings. 1. The challenged arbitral award in a nutshell Claimant (who also claimed to set aside the arbitral award) and Respondent (both in the underlying arbitration and the setting aside proceedings) were…

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In Arbitration Procedure

Post M&A Disputes: Breach of Indemnification Clauses in M&A Contract

by 6 Mins Read

Indemnification clauses are common in share purchase agreements (“SPA”). Post M&A disputes frequently concern alleged breaches of such clauses. These disputes raise difficult questions of both substantive and procedural law. The reason is that an indemnification dispute involves at least four parties: The target company, the third party who raises claims against the target company, the seller (= the indemnitor) and the buyer (= the indemnitee). Reasons to Include Indemnification Clauses in SPAs In the…

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In Arbitration Procedure

Baker McKenzie’s Teddy Baldwin to Moderate Q&A with Alexander Fessas Covering the ICC’s New Expedited Arbitration Rules

by 1 Min Read

The ICC has made amendments to the Arbitration Rules which came into force as of 1 March 2017. The most important aspect of these amendments is that it offers an expedited procedure providing for a streamlined arbitration with reduced scales of fees.Alexander Fessas, Managing Counsel and incoming Secretary General of the ICC International Court of Arbitration, will speak at Baker McKenzie’s office in Washington DC on Thursday, May 11 about the newly revised ICC Arbitration…

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