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In Asia-Pacific

The new ICCA Drafting Sourcebook and the Rise of Soft Law in International Arbitration

by and 4 Mins Read

The International Council for Commercial Arbitration (“ICCA”) has recently published a so-called “Drafting Sourcebook for Logistical Matters in Procedural Orders” (“ICCA Drafting Sourcebook”). This is a thirty-page booklet which enumerates in no less than thirty-four chapters typical procedural rules which an arbitral tribunal might use to structure the arbitral proceedings. The extent of covered content is impressive and ranges from communication rules and the handling of time limits to formatting issues for submissions, the structure…

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In Europe

When the banks close for one week (or longer?): legal remedies for foreign investors in Greece

by and 5 Mins Read

The Greek crisis might prevent foreign investors in Greece from transferring their funds to their home country. If that turns out to be a lasting problem, foreign investors in Greece are not defenseless. Current developments in the modern Greek drama could not be more suspenseful: The Greek Prime Minister, Alexis Tsipras, caught everyone in Europe by surprise announcing a Greek referendum about the latest bailout terms for 5 July 2015. The Finance Ministers of the Eurozone…

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In Arbitration Procedure

Arbitration Club Produces Bespoke “Expedited Procedure” for Financial Services Disputes

by and 3 Mins Read

It has been suggested that the use of arbitration to resolve disputes in the financial services sector is less popular than it could be, largely due to the standard rules of major arbitral institutions not necessarily offering business users in the sector the certainty and expedition that they seek. This notably prompted PRIME Finance to be established. Many jurisdictions, including England and Wales, of course permit parties to expedite the arbitration procedure by, for example,…

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In Arbitration Procedure

ICC Launches New 2015 Expert Rules

by 4 Mins Read

The use of experts and neutrals in ADR is a growing trend. In response to this, the ICC launched a new set of Expert Rules (“the Rules”) in February 2015 that seek to expand and enhance its services in this area. The Rules replace those that came into force in January 2003. They now comprise three sets of rules for the appointment and administration of experts and neutrals, with each set relating to a service…

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