Anchoring is a psychological phenomenon wherein a person is influenced by certain reference points he or she is given at the beginning. Accordingly, a high claim in an arbitration, or a high starting offer in a negotiation, can influence the end result. Research suggests, however, that also nondescript information, i.e. information that carries no useful information for the issue to be decided, can influence decision making. Does this also work in arbitration? Psychology teaches that…
As we have previously reported on Global Arbitration News [here], arbitral tribunals most often start their decision-making process…
As we have outlined in an earlier post [here], arbitral tribunals – as a starting point – generally…
Effective from 1 January 2016, the International Court of Arbitration at the International Chamber of Commerce (“ICC”) has introduced two new and innovative policies in response to user demands for greater efficiency and transparency in arbitration. The ICC shall: publish the names and nationalities of arbitrators; andreduce arbitrators’ fees for unjustifiable delay in submitting draft awards, with corresponding power to increase arbitrators’ fees for efficient case management. Publication of arbitrators’ details The names of arbitrators…
The Bar Council has recently published a guidance note regarding barristers from the same chambers appearing as counsel…
The costs of international arbitration can be substantial. At the same time, an arbitral tribunal has a broad…
In its judgment of 18 January 2016[1], the Svea Court of Appeal overturned the Stockholm District Court’s judgment and approved the Russian Federation’s plea for negative declaratory relief. Contrary to the Stockholm District Court, the Svea Court of Appeal found that the arbitral tribunal lacked jurisdiction to adjudicate the claim made by Spanish investors against the Russian Federation originating from the alleged expropriation of the Spanish investor’s investments in Yukos Oil Company. The Svea Court…
On January 26, CPR announced a new Steering Committee for its Young Attorneys in Alternative Dispute Resolution Program…
Recent development While Turkey’s International Arbitration Law No. 4686 has long permitted Turkish courts to grant interim relief…
In a judgment of 7 August 2015, the Court of Appeal Cologne had to deal with a claim for damages of a former respondent in arbitration proceedings. The respondent had lost the arbitration to a large extent. The tribunal ordered the respondent to reimburse the claimant’s costs of approx. EUR 730,000 including lawyers’ fees in an amount of approx. EUR 460,000. As it subsequently turned out, the claimant had in fact only paid to his lawyers’ fees in…