A Discussion of the Yukos Case Can the unsuccessful party challenge an arbitral award on the basis that an arbitral secretary was substantially involved? The Russian Federation argues “Yes” and applied in November 2014 to the District Court of The Hague to set aside the so-called Yukos awards. [1] The arbitral secretary in the Yukos case had devoted between 40 % and 70 % more time to the arbitrations than did any of the arbitrators.…
On June 12, 2015 the ICSID tribunal in Muhammet Çap & Sehil Inşaat Endustri ve Ticaret Ltd. Sti.…
In large arbitration cases, skilled counsels fill hundreds of pages with factual and legal arguments in order to…
The Last Year and a Half of Cost Allocation in Investment Arbitration Cost allocation in investment arbitration is often as controversial as the dispute itself. And there is a good reason for that: it is not uncommon that parties incur several millions of dollars in legal fees. The Yukos case set a new “record” last year; the claimants incurred legal fees in an amount of more than USD 80 million, the respondent incurred USD 31…
In Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela, No. 14-8163-cv (S.D.N.Y. Mar. 4, 2015), the District…
Greece will go bankrupt. The struggling Greek economy will collapse. Probably, Greece will leave the Euro-Zone. New state…
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…
On April 8, 2015, a three-person tribunal at the International Centre for Settlement of Investment Disputes (“ICSID”) took…
If recent speculation is to be believed, the EU and US are sleep-walking into a scenario where they…
How prior corrupt conduct by a company can limit it from subsequently pursuing legal rights and remedies Bribery and corruption are significant risks in the context of international business transactions. These risks are heightened for companies doing business in developing markets. Where a transaction results in a dispute, an additional risk can arise where the bribe takers, or their successors, seek to use allegations of corruption in relation to the transaction against the other party…