Australian courts will not lightly set aside arbitral awards, including on public policy grounds. The recent case of Sino Dragon Trading Ltd v Noble Resources International Pte Ltd [2016] FCA 1131 demonstrates the Court’s systematic appraisal and ultimate dismissal of the applicant’s challenge to the arbitral award. The Court also confirmed in the separate costs judgment of Sino Dragon Trading Ltd v Noble Resources International Pte Ltd (No 2) [2016] FCA 1169 that unmeritorious challenges…
In a recent Iranian gas contract dispute, the High Court of England and Wales rejected an attempt to…
In a recent PRC case (the “Taizhou Court Case”), the Taizhou Intermediate People’s Court (“Court”) refused enforcement of…
Angola is to become the 157th signatory state to the New York Convention, paving the way for the first time to the effective recognition and enforcement in Angola of awards rendered outside Angola. Angola’s accession was approved by Resolution No. 38/2016 of 12 August 2016 of the Angolan National Assembly, but is yet to take effect. Angola now needs to deposit the resolution with the Secretary-General of the United Nations, with the convention then coming…
In a recent decision, the Higher Regional Court of Munich (Oberlandesgericht München; hereinafter: “Court”) ruled that an arbitrator…
In Albaniabeg Ambient Sh.p.k. v. Enel S.p.A. and Enelpower S.p.A., No. 15 Civ. 3283 (S.D.N.Y. Mar. 11, 2016),…
On 19 January 2016, the English High Court in Pencil Hill Ltd v US Citta Di Palermo SpA enforced an arbitral award issued by the Swiss based Court of Arbitration for Sport (“CAS”) despite the award relying, in part, on a penalty clause in the contract (such clauses are unenforceable under English law). The Court rejected a challenge to the award, which had advanced as its grounds that enforcement of a penalty clause is contrary…
Are offers to arbitrate in BITs (Bilateral Investment Treaties) between EU member states compatible with the laws of…
In its decision dated March 22, 2016 (case no. 4A_678/2015), the Swiss Federal Supreme Court was called upon to…
In a remarkable turn of events the District Court of The Hague has set aside six arbitration awards, including the three final awards in excess of $50bn, in the investment arbitration against the Russian Federation over the change of ownership in the former Yukos Oil Company. The decision (which can be found in full here) was released last Wednesday, 20 April 2016. The Yukos Investment Arbitration Proceedings The arbitrations were initiated in 2005 by former…