On 24 October 2023, the Paris Court of Appeal delivered an influential decision for the international arbitration community[1]. It partially annulled an award that had condemned the Bolivarian Republic of Venezuela (“Venezuela”) for breaching the provisions set out in an investment treaty, in the light of public policy considerations and the meeting of the applicable standard. In 2001 and 2006, Serafin García R. Armas and his daughter, Karina García Gruber (“the investors”), bought shares in…
Introduction English courts recently heard and determined three separate applications with near mirroring facts for anti-suit injunctions (“ASI”)…
The Law Commission has published its final report (here), and a summary (here), on its detailed review of…
On 14 July 2023, the English High Court denied the enforcement of an arbitral award (“Final Award”) rendered under the Judicial Arbitration and Mediation Services (“JAMS”) Arbitration Rules in San Francisco, California. The presiding judge, Mr Justice Bright, held that the Final Award was contrary to UK public policy as outlined under the Consumer Rights Act 2015 (“CRA”) and the Financial Services and Markets Act 2000 (“FSMA”). Factual Background The underlying dispute was between three…
What constitutes a material adverse change or a material impact on the profitability of a target company? In…
Previously on this blog, we had reported (1) about the scope of the EU prohibition for the legal…
On 9 March 2023, the German Federal Court of Justice (“BGH”) confirmed the decision of the Higher Regional Court of Koblenz to refuse recognition and enforcement of an arbitral award issued in Russia.[1] Among others, the BGH held that the Arbitral Tribunal exceeded its personal jurisdiction by extending an arbitration agreement to a de facto group of companies. In its decision, the BGH answered several highly relevant questions: Factual Background The claimant in the arbitration…
Factual Background In 2012, Mr. X bought a catamaran put up for sale by Mr. Y, who owned…
On 18 April 2023, the German Federal Ministry of Justice published its „Guidelines on the modernization of German…
On 28 September 2022, the French Cour de Cassation rendered an important and awaited decision for the international arbitration community in the Kabab-ji/Kout Food case. Factual Background In July 2001, Lebanese company Kabab-Ji and Kuwaiti company Al-Homaizi Foodstuff Co. WWL (“Al-Homaizi”) entered into a ten-year franchise agreement to operate the “Kabab-Ji” restaurant brand in Kuwait. The franchise agreement, as well as the agreements concluded with each restaurant, provided for the application of English law and…