Arbitration Developments in the Middle East and Asia 2010

Size: px
Start display at page:

Download "Arbitration Developments in the Middle East and Asia 2010"

Transcription

1 Arbitration Developments in the Middle East and Asia 2010 Thursday, July 1, :00 a.m. 10:00 a.m. (BST) Web Seminar When You Think INTERNATIONAL ARBITRATION, Think Fulbright. TM

2 Administrative Today's program will be conducted in a listen-only mode. To ask an online question anytime throughout the program simply click on the question mark icon located on the tool bar in the bottom right side of your screen. We will try to answer your question during the Q&A session at the end of the program. Everything we say today is opinion. We are not dispensing legal advice, and listening does not establish an attorney/client relationship. This discussion is off the record. Anything we say cannot be quoted without our express written permission. If the press is listening, you may contact us and we may be able to speak on the record. 2

3 Speakers David Howell Partner, Co-Head of firm's International Arbitration practice +44(0) Jonathan Sutcliffe Partner Richard Hill Partner rhill@fulbright.com

4 Asia Richard Hill Partner Fulbright & Jaworski LLP, Hong Kong When You Think INTERNATIONAL ARBITRATION, Think Fulbright. TM

5 Asian Arbitration Venues: Adoption in Asia of New York Convention Australia 1975 Malaysia 1985(R+C) Bangladesh 1992 New Zealand 1983(R) Brunei 1996 South Korea 1973(R+C) Cambodia 1960 Pakistan 2005(R) China 1987(R+C) Philippines 1967(R+C) Hong Kong* 1977 Singapore 1986(R) India 1960 Sri Lanka 1962 Indonesia 1981(R+C) Thailand 1959 Japan 1961(R+C) Vietnam 1995 (R+C) Principal exception: Taiwan, though the PRC s Supreme People s Court has issued provisions giving recognised Taiwan judgments and arbitral awards the same effect as PRC judgments * New York Convention does not apply to enforcement of HK awards in Mainland China as it is part of the same country, but HK awards are enforceable in Mainland China as outlined below 5

6 Asian Arbitration Venues: Adoption in Asia of UNCITRAL Model Law Singapore International Arbitration Act 1994 Hong Kong Arbitration Ordinance (Cap 341) 1990 and draft unified revised law Australia International Arbitration Act 1974 New Zealand Arbitration Act 1996 India Arbitration and Conciliation Act 1996 Taiwan Arbitration Law 1998 South Korea Arbitration Law 1999 Thailand Arbitration Act 2002 Japan Arbitration Law 2003 Malaysia Arbitration Law 2005 Not Model Law Indonesia Arbitration and Conciliation Law 1999 PRC Arbitration Law

7 7 Institutional Caseloads Increasing caseloads at major arbitration institutions: , , , AAA/ICDR SCC LCIA ICC SIAC HKIAC CIETAC

8 Can You Arbitrate China-Related Disputes Outside of China? Restrictions on place of arbitration Domestic parties to a contract with no foreign element cannot validly agree to arbitrate in a foreign country under PRC law Article 128 Contract Law only parties to a foreign related contract can choose Chinese or other arbitration body Foreign related : one or both parties are foreign; subject matter or act which creates, modifies or extinguishes rights or obligations is outside PRC Chinese subsidiaries of foreign companies treated as domestic. So consider structure of investment for this reason, as well as BITs? Even if you can agree to arbitrate outside of China, you may prefer to arbitrate in China on the grounds that the Chinese courts will only grant interim measures in support of Chinese arbitrations 8

9 So if you have to (or agree to) arbitrate in China Ad hoc arbitration not permitted within China Article 16: a valid arbitration agreement under PRC law requires arbitration commission to be stated Article 10 of Arbitration Law 1995 provides for establishment of Arbitration Commissions Does Article 16 mean a Chinese commission? What about international institutions such as ICC? Traditional view is that commission must be Chinese Zublin case SPC refused to enforce award rendered in Shanghai under ICC Rules as no commission named Duferco case April 2009 PRC Court ordered enforcement of ICC Award Seat of arbitration was Beijing Arbitration agreement had not been challenged in time SPC not consulted on enforcement China will enforce foreign awards rendered by ad hoc tribunals and non-chinese institutions 9

10 Options when you need / choose to arbitrate in China CIETAC is often first choice 210 PRC arbitration commissions The leading arbitration institution in China is the China International Economic and Trade Arbitration Commission ( CIETAC ), established in Headquartered in Beijing with sub-commissions in Shanghai, Shenzhen, Tianjin, and Chongqing. Developments at CIETAC 2005 Rules Parties may agree seat outside PRC (Article 31) Clearly only for foreign-related arbitrations So parties can obtain a CIETAC award enforceable under the New York Convention in China May agree rules of procedure (Article 4(2)) May agree non-cietac panellists Optional list system for sole or presiding arbitrator 10

11 Chinese features of CIETAC arbitration Features of CIETAC arbitration that may concern foreign parties: Limitations on the selection of arbitrators from the official Panel unless otherwise agreed by the Chinese party and approved by CIETAC Mechanism for the appointment of the chairman does not require neutral nationality so chairman usually a CIETAC-appointed Chinese arbitrator Very low remuneration of arbitrators discourages foreign arbitrators from accepting appointments Ad valorem fee scale which results in high costs in large disputes Rule that Chinese language is the official language of proceedings unless otherwise agreed Over-simplified fast-track procedures and very short hearings rarely lasting above a day Heavy reliance is on formal documentary evidence and lack of reliance on informal documents such as s Limited information exchange / document production before the hearing (the rules do not expressly give the power to order production) Lack of reliance on oral evidence, with witness examination seldom allowed Inquisitorial approach CIETAC Rules Article 37: Tribunal may gather evidence Article 38: Tribunal may appoint expert, who will not necessarily attend the hearing for questioning / explanation An emphasis on fairness and equity in making awards Restrictions on the right of foreign lawyers to interpret Chinese laws Tendency of arbitrators to want to conciliate the dispute 11

12 So, drafting suggestions if you choose to (or have to) agree to arbitrate in China Have a Chinese institution don t (for now) risk foreign (e.g. ICC) arbitration with a China seat Probably go for CIETAC, but Include in your clause: Neutral nationality of sole arbitrator / Chairman Right to appoint outside CIETAC panel IBA Rules of Evidence, to ensure some degree of document production, witness evidence etc. English as an official language (with Chinese translation) Adversarial rather than inquisitorial approach Decision to be according to the governing law (not on the basis of equity or fairness) 12

13 Hong Kong Hong Kong, Singapore, Stockholm the most popular seats outside Mainland China for China-related arbitrations Growing caseload in Hong Kong especially for China/foreign cases A compromise seat in China-related contracts Cultural and linguistic ties with China But legal independence and respected judiciary English-based legal system Basic law guaranteed for 50 years from 1997 Availability of international arbitrators and counsel Location, facilities and infrastructure Chinese get their country, Westerners get their system 13

14 Hong Kong Enforcement of Hong Kong awards in China (and vice versa) New York Convention does not apply Arrangements Concerning Mutual Enforcement of Arbitral Awards between Mainland and Hong Kong SAR confirmation of enforcement of Hong Kong ad hoc awards in PRC HKIAC administered arbitration rules (2008) designed for China-foreign disputes (about 80 a year). Clause must refer to administered arbitration Alternative to UNCITRAL Rules traditionally used by HKIAC Designed to increase use of HKIAC by Chinese parties Still more lightly administered than ICC or SIAC Costs choice of ad valorem or hourly rates 14

15 Hong Kong New ICC secretariat in Hong Kong September 2008, now administering over 100 Asian cases out of Hong Kong Reforms to the arbitration law of Hong Kong summer 2010 Unitary regime for international and domestic arbitrations New UNCITRAL Model Law Articles 17A to 17G regulating tribunal ordered interim measures Opt-in right of appeal on points of law Arbitrator may act as mediator if parties consent after arbitration commenced Enforcement of awards from non- NYC states where there is reciprocity 15

16 Maxwell Chambers New home for SIAC ICDR, ICC and PCA offices Hearing facilities Government support and tax measures Singapore Recent amendments to Arbitration Act Singapore courts can now grant interim orders in support of arbitrations held outside Singapore / online agreements can be used to conclude an arbitration agreement Provision for authentication of Singapore awards to facilitate enforcement overseas 16

17 Singapore Singapore International Arbitration Centre revised rules effective from 1 July Key changes include: A new rule providing for expedited procedure where the amount in dispute does not exceed S$5 million, where the parties agree or in cases of exceptional urgency. Award to be issued within six months of the constitution of the tribunal with reasons given in summary form A new rule dealing with multi-party appointment of arbitrators. The claimant and respondent jointly nominate the sole arbitrator or entire panel, failing which the SIAC chairman will appoint Explicit statement that ex parte communications with the presiding arbitrator are not permitted New provisions clarifying what written statements the parties should submit and their contents The deletion of the requirement that parties should submit a memorandum of issues New provision for joinder of third parties that are party to the arbitration agreement and consent A power granted to a committee of the SIAC board to determine any objection to jurisdiction raised before the tribunal is appointed, if its is satisfied that an arbitration agreement may exist A new rule 16 on interim emergency relief from the tribunal or an emergency arbitrator (if the tribunal is not yet constituted). The rule clarifies that the emergency arbitrator cannot subsequently act as an arbitrator in the dispute unless the parties agree otherwise Provision for arbitrators to order a party to provide security in connection with interim relief; A new rule 27 on applicable law. Amiable composition and ex aequo et bono principles are only to be applied if expressly authorised by the parties, and the tribunal should take into account trade usage applicable to the transaction; A revision allowing for the removal of arbitrators if they delay the case unnecessarily. Controversial Court of Appeal decision upholding hybrid SIAC-ICC arbitration clause (Insigma v Alstom): a route to cut-price ICC arbitration? 17

18 Korea and Japan Korea KCAB rising caseload (47 cases in 2008, 78 in 2009) 2007 International Rules aimed at encouraging foreign parties to select Korea: modelled on ICC. Clause must state International Rules, or regular KCAB rules apply Japan JCAA traditionally very low caseload (never >16 cases) Rarely selected as an international arbitration venue: cultural aversion to adjudicative process limitations on foreign lawyers appearing until recently 100-year old arbitration law not replaced until UNCITRAL Model Law adopted in

19 India LCIA India launched in April 2009 First independent LCIA centre outside London (the LCIA also has a joint venture with the DIFC in Dubai) Confidence in the Indian arbitral process jeopardized in 2008 by the Venture Global decision of the Supreme Court of India, holding that foreign awards may be challenged under Part 1 of the Indian Arbitration Act 1996 unless the parties have agreed otherwise This allows the Indian courts to set aside foreign awards on the grounds of public policy if they contravene any provisions of Indian law However in the more recent decision by the Delhi High Court in Max India v General Binding the court refused to grant an injunction since the parties had agreed to arbitrate in Singapore and held that Part 1 of the Act was therefore excluded When investing in India, however, it remains advisable to provide for arbitration outside India and expressly to exclude the application of Part 1 of the Indian Arbitration Act. 19

20 Enforcement of awards in China: the concerns Increasing number of contracts between Chinese and foreign parties, giving rise to potential enforcement of awards in China Traditional concerns about enforcement against Chinese parties in China include: Local protectionism and connections Competence of judiciary in regions, low status of courts and lack of independence of judiciary from local government Inexperience of judiciary with international law, arbitration and enforcement Delay / inefficiency: Revpower case Corruption in court system Apprehension of courts using public policy to protect Chinese Earlier cases of non-enforcement for violation of social and public interest : Heavy Metal and Dong Feng v. Henan cases 20

21 Enforcement of awards in China: Positive Developments Some increasing international confidence in PRC courts record of enforcing foreign arbitral awards 2002 SPC Notice establishes centralised jurisdiction for enforcement Review of proposed non-enforcement by Supreme People s Court (1995 Notice) Only 11 recorded refusals of enforcement of foreign awards in the years from 2000 to 2007, including 5 cases where it was found that there was no (or no valid) arbitration agreement 4 cases where limitation had expired 2 due process cases (proceedings not served, or tribunal not appointed in accordance with agreement) 21

22 Enforcement of Awards in China: Recent Cases of Non-Enforcement Hemofarm First refusal to enforce foreign award on grounds of public policy PepsiCo v. Sichuan PepsiCo; PepsiCo (China) v. Sichuan Yunlv Industrial Co. Ltd First cases approved by the SPC for non-enforcement on the basis of a failure to conduct pre-arbitration negotiation as required by the arbitration clauses First Investment Corp. (Marshall Island) v. Fujian Mawei Ship Making Co., Ltd SPC approved non-enforcement on the basis that one-party appointed arbitrator did not participate in the whole course of the arbitration, nor attend the full deliberations 22

23 Potential Investment Claims under Chinese BITs China is party to BITs with 126 countries, of which over 90 are in force Second only to Germany Includes 40 out of 44 states in Asia 25 out of 27 EU states, and 76% of Europe 31 out of 53 African states 13 Latin American states Australia and New Zealand China is also a party to ICSID Convention MIGA Convention WTO Agreements FTA with ASEAN FTA with New Zealand (China s first FTA with an OECD country) 23

24 Potential Claims under Chinese BITs China does not have a BIT with USA, Canada or Brazil. As to the USA: U.S.-China Joint Statement, November 17, 2009: The two sides recognize the importance of open trade and investment to their domestic economies and to the global economy, and are committed to jointly fight protectionism in all its manifestations. The two sides agreed to work proactively to resolve bilateral trade and investment disputes in a constructive, cooperative, and mutually beneficial manner. Both sides will expedite negotiation on a bilateral investment treaty. 24

25 The Protection afforded by China BITs Protection offered Protection against expropriation Fair and equitable treatment of investments National treatment Repatriation of investments and returns Additional protection (more recent BITs) Full protection and security Umbrella clause (observation of contractual obligations) 25

26 China as a Capital Importer and Exporter China has been among the world s leading FDI recipients for several years (and is the leading recipient among developing nations) but also A rapidly growing role as a capital exporter.. Year Amount (USD 1 billion) Source: Ministry of Commerce ("MOFCOM") 26

27 Arbitration under Chinese BITs There is no public record of the international arbitration provisions in a China BIT ever having been officially invoked against China to date. Why? There are pending BIT claims by Chinese investors against other states, but not many 27

28 China BITs Two Generations 2 main periods of evolution: 1982 to 2001 First Generation China signed ICSID Convention in 1990 subject to an Article 25(4) Notification: The Chinese government would only consider submitting to the jurisdiction of ICSID disputes over compensation resulting from expropriation or nationalisation First Generation BITs generally provide limited recourse to international arbitration: often only available for disputes concerning the amount of compensation in cases of expropriation 28

29 Second Generation BITs 2001 onwards Second Generation China acceded to WTO in Second Generation BITs providing for arbitration of all disputes, including Netherlands, Germany, Finland, Sweden, Korea, Spain, India, Russia, Mexico Six months negotiations, then ICSID or UNCITRAL arbitration Full right to submit any investment disputes to international arbitration (including fact of expropriation, and breaches of other protections) Effect of China s ICSID Notification that it would only submit to ICSID disputes of compensation resulting from expropriation? Consider structuring investment in China via a state with a second generation BIT providing full right to arbitration China has entered into BITs with 126 countries, but over 80 still have narrow arbitration clauses 29

30 Arguments Available to Investors from First Generation BIT States Seeking Arbitration Argument 1: the clause enabling arbitration of disputes concerning the amount of compensation for expropriation permits the tribunal to determine the fact of expropriation RosInvestCo UK v The Russian Federation Stockholm Chamber of commerce October 2007 NO Czech Republic v European Media Ventures SA English High Court December 2007 YES Renta 4 SVSA v The Russian Federation Stockholm Chamber of Commerce March 2009 YES Tza Yap Shum v The Republic of Peru ICSID June 2009 YES (First claim under a Chinese BIT) Even if this argument succeeds, it does not permit the Tribunal to deal with anything beyond expropriation 30

31 Arguments Available to Investors from First Generation Treaty States Seeking Arbitration Argument 2: Since investors from states with second generation BITs can arbitrate all investment disputes, investors from first generation states should be entitled to invoke those arbitral provisions by virtue of the Most Favored Nation clauses in the first generation BITs Neutral arbitration is perhaps the investor s most important right Conflicting decisions under international law as to whether the MFN clause extends to arbitration agreement: Maffezini v Spain ICSID 1997 and line of further decisions YES Plama v Bulgaria ICSID 2005 and a line of further decisions NO 31

32 Arguments Available to Investors from First Generation Treaty States Seeking Arbitration Recent ICSID decision under China Peru BIT: Tza Yap Shum v Republic of Peru ICSID June 2009 A Chinese investor in Peru sought to rely on the MFN clause in the Peru-China BIT to incorporate broad arbitration clause from the Peru-Columbia BIT. Tribunal accepted jurisdiction over expropriation claim but not other claims (fair and equitable treatment etc.) So it accepted the first argument (ability to decide fact as well as quantum of expropriation) but rejected the second argument (reliance on MFN clause to found tribunal s jurisdiction to deal with other breaches) 32

33 So, if you are investing in China Watch this space for US-China BIT Where possible, invest via a state with which China has a Second Generation BIT allowing arbitration of all investment disputes If you invest via a First Generation state, there may be a good argument for arbitral jurisdiction in the event of expropriation There is a possible, but more controversial, argument for arbitration of other disputes 33

34 Middle East Jonathan Sutcliffe Partner Fulbright & Jaworski LLP, Dubai When You Think INTERNATIONAL ARBITRATION, Think Fulbright. TM

35 Seat general Seat of arbitration = legal place of arbitration A good seat is a necessity the law of the seat (lex arbitri) will affect numerous aspects of the arbitration A good seat has: Acceded to the New York Convention 1958 Permissive and supportive arbitration legislation (ideally based on the UNCITRAL Model Law) Expert judges and an efficient court system 35

36 Seat general (cont) A neutral and/or extra-regional seat of arbitration cannot always be agreed and may not always be appropriate When enforcing locally (within the Middle East region), in practice local awards (rendered in a seat in the Middle East) often face fewer obstacles to enforcement than other foreign arbitral awards 36

37 Some Middle East seats Historically Cairo has been the leading regional seat UAE Dubai and the DIFC Qatar Bahrain Saudi Arabia 37

38 Seat Cairo Law Concerning Arbitration in Civil and Commercial Matters (1994) Based on UNCITRAL Model Law 1985 Enforcement: New York Convention (since 1959) Riyadh Arab League Convention (since 1983) Note: Ministry of Justice Decree 8310/2008 requiring Ministry consent to deposit awards for enforcement in Egypt 38

39 Seat UAE Federal Civil Procedure Law (1992) contains only 15 Articles relating to arbitration New Federal arbitration law planned drafts published in 2006, 2008 and 2010 Enforcement: New York Convention (since 2006) Riyadh Arab League Convention (since 1985) GCC Convention (since 1985) 39

40 Seat DIFC Dubai International Financial Centre (DIFC) is a financial free zone and offshore jurisdiction within Dubai The DIFC has its own common law based legal system and English language courts whose rules are based on the English Commercial Court DIFC Arbitration Law 2008 (based on both the UNCITRAL Model Law 1985 and 2006) No link with DIFC required to agree DIFC as seat of arbitration Enforcement: NYC, Riyadh Convention, GCC Convention 40

41 Seat Qatar Civil & Commercial Procedure Code 1990 (Qatar) Qatar Financial Centre Arbitration Regulations (2005) based on UNCITRAL Model Law 1985 (QFC seat only) Enforcement: New York Convention (since 2003) Riyadh Arab League Convention (since 1999) GCC Convention (since 1996) 41

42 Seat Bahrain Civil & Commercial Procedure Code (1971) (domestic arbitration) International Commercial Arbitration Law 1994 (based on UNCITRAL Model Law 1985) New legislation planned (to up date to UNCITRAL Model Law 2006) Enforcement: New York Convention (since 1988) Riyadh Arab League Convention (since 1999) GCC Convention (since 1996) Bahrain Arbitration Free Zone 42

43 Seat Saudi Arabia Arbitration Law Decree M46 of 1983 Arbitration Procedure Rules Council of Ministers Resolution 7/2021/M of 27 May 1985 Close court control of arbitration Arbitration awards may be appealed, including consideration of the merits Enforcement: New York Convention (1994) Riyadh Arab Convention GCC Convention 43

44 Regional arbitration institutions Dubai International Arbitration Centre (DIAC) Seat of arbitration need not be Dubai Modern arbitration rules 2007 Executive Committee and Board of Trustees Large recent increase in caseload with downturn in Dubai Administration is currently overwhelmed by its caseload 44

45 Regional arbitration institutions (cont) DIFC-LCIA Arbitration Centre Set up in 2008 Modern arbitration rules based on the tried and tested LCIA Rules (London Court of International Arbitration) Seat need not be in DIFC Has its own Secretariat but can draw on LCIA resources Access to LCIA s arbitrator data base Modest case load so far 45

46 Regional arbitration institutions (cont) BCDR-AAA Tie up between Bahrain Chamber for Dispute Resolution and the American Arbitration Association Launched in January 2010 Modern arbitration rules based on the AAA international arbitration rules (ICDR rules) 46

47 Enforcement New York Convention 1958 Most Middle East countries are NYC signatory states In theory, such Middle East signatory states have an obligation to enforce foreign arbitral awards except if one of the limited NYC grounds for refusal exists Gap between theory and practice for some countries 47

48 Enforcement Riyadh Convention 1983 Arab Convention on Judicial Cooperation, Riyadh 1983 Convention countries obliged to recognize and enforce court judgments and arbitral awards of other Convention countries The Convention sets out limited grounds on which enforcement of an arbitral award can be refused Art 37(e): enforcement can be refused if the award is contrary to the Shari a 48

49 Riyadh Convention 1983 (cont) Regional convention with which enforcing courts in the region may feel more comfortable (compared to NYC)? In countries which ratified the Riyadh Convention earlier than the NYC (e.g., UAE 1985 vs. 2006), courts may be more familiar with and have (more of) a track record of enforcement cases 49

50 Enforcement GCC Convention Arab Gulf Cooperation Council Convention for the Execution of Judgments, Delegations [Letters Rogatory] and Judicial Notifications GCC countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE GCC countries obliged to execute final court judgments and arbitral awards of other GCC member states Convention sets out limited grounds on which enforcement can be refused 50

51 Grounds include: GCC Convention (cont) If the award is in violation of the provisions of the Shari a If the award is issued against the Government of the State where the award is to be enforced or against Government officials (for acts in the performance of their duties) Courts of GCC countries have higher comfort level with enforcement cases where the awards were rendered in other GCC countries as opposed to enforcement under other conventions? 51

52 Enforcement of foreign award UAE Common past reasons for denial of enforcement: Art 235(2)(a) Civil Procedure Law ( CPL ) requires court to determine that original dispute was not subject to jurisdiction of UAE courts + Arts 20 and 24 CPL give UAE courts non-waivable jurisdiction over claims involving UAE parties and foreigners with sufficient nexus to the UAE Reciprocity: requirement that country in which award rendered enforces awards rendered in UAE 52

53 Enforcement of foreign award UAE (cont) Now, UAE is a New York Convention party (since 2006) No track record yet under NYC In theory, Articles CPL (enforcement) should no longer apply In practice, party seeking enforcement may still need to comply with CPL (grounds for refusal to enforce: due process/procedural; public policy; plus reciprocity and Art 235(2)(a)) Also Riyadh Convention, GCC Convention and bilateral treaties (France, India, Egypt) 53

54 Enforcement of foreign award Saudi Arabia Enforcement of foreign arbitral awards in KSA very difficult, despite KSA being a party to the New York Convention, Riyadh Convention and GCC Convention Board of Grievances oversees enforcement Threshold requirements: Reciprocity Foreign award complies with the Shari a as enforced in KSA Effectively re-trial on the merits 54

55 Investment treaty protection Bahrain: 14 in force BITs (incl. France, UK, US, China, Singapore) Egypt: over 70 in force BITs Iraq: only one in force BIT (Kuwait, from 1966) Jordan: over 30 in force BITs (many with European countries, other Middle East countries, US, Korea) 55

56 Investment treaty protection (cont) Kuwait: over 35 in force BITs (China, but not UK or US) Oman: 19 in force BITs (China, Korea, UK, but not US) Qatar: 13 in force BITs (Switzerland, Italy, Germany, France, China, Korea) Saudi Arabia: nine in force BITs (China, Egypt, France, Germany, Italy, Korea) 56

57 Questions? David Howell Partner, Co-Head of firm's International Arbitration practice +44(0) Jonathan Sutcliffe Partner Richard Hill Partner rhill@fulbright.com

58 When You Think INTERNATIONAL ARBITRATION, Think Fulbright. TM AUSTIN BEIJING DALLAS DENVER DUBAI HONG KONG HOUSTON LONDON LOS ANGELES MINNEAPOLIS MUNICH NEW YORK RIYADH SAN ANTONIO ST. LOUIS WASHINGTON, D.C FULBRIGHT [ ] 58

ANATOMY OF INTERNATIONAL ARBITRATION. E. Y. Park Co-Head, International Arbitration & Litigation Group Kim & Chang 12 February 2018

ANATOMY OF INTERNATIONAL ARBITRATION. E. Y. Park Co-Head, International Arbitration & Litigation Group Kim & Chang 12 February 2018 ANATOMY OF INTERNATIONAL ARBITRATION E. Y. Park Co-Head, International Arbitration & Litigation Group Kim & Chang 12 February 2018 What is International Arbitration? Traditional Method of Dispute Resolution

More information

Your Arbitration Agreement Matters: Tips for Drafting Effective Arbitration Clauses in the U.S. Andrew Behrman February 2017

Your Arbitration Agreement Matters: Tips for Drafting Effective Arbitration Clauses in the U.S. Andrew Behrman February 2017 Your Arbitration Agreement Matters: Tips for Drafting Effective Arbitration Clauses in the U.S. Andrew Behrman February 2017 Tips for Drafting Effective Arbitration Clauses 1. Why Are You Choosing Arbitration?

More information

International Commercial Arbitration - An Introduction. Steven Lim Managing Partner, Singapore, Nabarro LLP 12 October 2016

International Commercial Arbitration - An Introduction. Steven Lim Managing Partner, Singapore, Nabarro LLP 12 October 2016 International Commercial Arbitration - An Introduction Steven Lim Managing Partner, Singapore, Nabarro LLP 12 October 2016 Overview Rise in international arbitration Foundations of modern international

More information

KIM M ROONEY CURRICULUM VITAE

KIM M ROONEY CURRICULUM VITAE KIM M ROONEY CURRICULUM VITAE Kim Rooney is an international arbitrator and barrister. She has been practicing in Asia, based in Hong Kong, since 1990. Before moving to become a Hong Kong barrister in

More information

BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID)

BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID) BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID). What is ICSID? ICSID is the leading institution for the resolution of international investment disputes.

More information

Introduction to Commercial Arbitration in China

Introduction to Commercial Arbitration in China Introduction to Commercial Arbitration in China Li Hu I. Chinese Arbitration Act 1994 Arbitration Legislation Chinese special culture has fostered the fine tradition of resolving disputes through arbitration,

More information

Arbitration Expanding Opportunities for Lawyers. Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar

Arbitration Expanding Opportunities for Lawyers. Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar Arbitration Expanding Opportunities for Lawyers Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar November 2011 What is Arbitration? Halsbury s Laws of England, Fourth Edition

More information

Arbitration Provisions in M&A Transaction Documents

Arbitration Provisions in M&A Transaction Documents Arbitration Provisions in M&A Transaction Documents September 22, 2015 Today s Speakers Joseph Tirado Co-Chair, International Arbitration Practice London +44 (0)20 7011 8784 jtirado@winston.com Alejandro

More information

BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID)

BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID) BACKGROUND INFORMATION ON THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID). What is ICSID? ICSID is the leading institution for the resolution of international investment disputes.

More information

THE ICSID CASELOAD STATISTICS (ISSUE )

THE ICSID CASELOAD STATISTICS (ISSUE ) THE ICSID CASELOAD STATISTICS (ISSUE 03-) The ICSID Caseload Statistics (Issue 03-) This issue of the ICSID Caseload Statistics updates the profile of the ICSID caseload, historically and for the Centre

More information

(including the degree of openness to foreign capital) (3) Importance as a source of energy and/or mineral resources (4) Governance capacity of the gov

(including the degree of openness to foreign capital) (3) Importance as a source of energy and/or mineral resources (4) Governance capacity of the gov Section 2 Investment treaties Foreign direct investment has been growing rapidly worldwide since the 1980s, playing a major role in driving the growth of the global economy. In terms of the share of GDP

More information

10th Anniversary Edition The Baker McKenzie International Arbitration Yearbook. Myanmar

10th Anniversary Edition The Baker McKenzie International Arbitration Yearbook. Myanmar 10th Anniversary Edition 2016-2017 The Baker McKenzie International Arbitration Yearbook Myanmar 2017 Arbitration Yearbook Myanmar Myanmar Leng Sun Chan SC 1, Jo Delaney 2 and Min Min Ayer Naing 3 A. Legislation

More information

Key changes to the CIETAC Arbitration Rules

Key changes to the CIETAC Arbitration Rules Key changes to the CIETAC Arbitration Rules Kluwer Arbitration Blog April 11, 2012 Justin D'Agostino (Herbert Smith Freehills) Please refer to this post as: Justin D'Agostino, Key changes to the CIETAC

More information

4. Drafting arbitration clauses

4. Drafting arbitration clauses 1. Essential matters to include in an arbitration clause In an arbitration clause, the parties should always: select a seat; consider whether they wish to select the rules of an arbitral institution or

More information

Arbitration in the PRC A Real Alternative or Not?

Arbitration in the PRC A Real Alternative or Not? Arbitration in the PRC A Real Alternative or Not? (Thomas Weimann, Düsseldorf) July 2 nd, 2013 5 Contents 1. Main Characteristics of Arbitration Legislation in the PRC 2. Main Arbitration Institutions

More information

THE ICSID CASELOAD STATISTICS (ISSUE )

THE ICSID CASELOAD STATISTICS (ISSUE ) THE ICSID CASELOAD STATISTICS (ISSUE 0-) The ICSID Caseload Statistics (Issue 0-) This issue of the ICSID Caseload Statistics updates the profile of the ICSID caseload, historically and for the calendar

More information

Session 3: Challenges and Enforcement of Arbitral Awards in Asia

Session 3: Challenges and Enforcement of Arbitral Awards in Asia Session 3: Challenges and Enforcement of Arbitral Awards in Asia Moderator: Renato S Grion Partner, Pinheiro Neto Advogados Speakers: Mark Goodrich Partner, White & Case James Rogers Partner, Norton Rose

More information

International Arbitration

International Arbitration International Arbitration William H. Knull, III Co-Chair, International Arbitration Group wknull@mayerbrown.com Presentation to: Mayer Brown is a global legal services organization comprising legal practices

More information

Dr Habib Al Mulla. Chairman of DIAC s Board of Trustees

Dr Habib Al Mulla. Chairman of DIAC s Board of Trustees Dr Habib Al Mulla Chairman of DIAC s Board of Trustees v Strong tradition of private out of court dispute resolution dating back thousands of years. The Prophet Mohammed (PBUH) arbitrated disputes and

More information

Summary of Arbitral Rules

Summary of Arbitral Rules 10th Anniversary Edition 2016-2017 The Baker McKenzie Arbitration Yearbook Summary of Arbitral Rules Summary of Arbitral Rules 1 Country Institution Express Argentina Buenos Aires Stock Exchange Arbitral

More information

2016 RUSSIAN ARBITRATION ASSOCIATION SURVEY: THE IMPACT OF SANCTIONS ON COMMERCIAL ARBITRATION

2016 RUSSIAN ARBITRATION ASSOCIATION SURVEY: THE IMPACT OF SANCTIONS ON COMMERCIAL ARBITRATION 2016 RUSSIAN ARBITRATION ASSOCIATION SURVEY: THE IMPACT OF SANCTIONS ON COMMERCIAL ARBITRATION Contents Introduction...................................................................................

More information

60 TH UIA CONGRESS BUDAPEST/HUNGARY - OCTOBER 28 - NOVEMBER 1, 2016

60 TH UIA CONGRESS BUDAPEST/HUNGARY - OCTOBER 28 - NOVEMBER 1, 2016 60 TH UIA CONGRESS BUDAPEST/HUNGARY - OCTOBER 28 - NOVEMBER 1, 2016 ARBITRATION COMMISSION: Hong Kong Bar Association/Shanghai Bar Association: FOREIGN INVESTMENT DISPUTE RESOLUTION BETWEEN CHINESE AND

More information

International Investment Arbitration in

International Investment Arbitration in INTERNATIONAL ARBITRATION TEAM International Investment Arbitration in the Middle Elevator East: Year Speeches in Review 0 International investment arbitration also known as investment treaty arbitration

More information

The Effect of Sanctions on Arbitration: Alternative Venues

The Effect of Sanctions on Arbitration: Alternative Venues The Effect of Sanctions on Arbitration: Alternative Venues Christopher P. Moore, Partner, London November 5, 2015 2015 Cleary Gottlieb Steen & Hamilton LLP. All rights reserved. Throughout this presentation,

More information

The Emergency and its Arbitrator Efficient or Illusion? Kiev Arbitration Days 3 November 2017 James Castello

The Emergency and its Arbitrator Efficient or Illusion? Kiev Arbitration Days 3 November 2017 James Castello The Emergency and its Arbitrator Efficient or Illusion? Kiev Arbitration Days 3 November 2017 James Castello Emergency Arbitrators Just a Fad? Emergency arbitrators appeared on the scene with remarkable

More information

1. International Commercial Arbitration

1. International Commercial Arbitration 1. International Commercial Arbitration 2. UNCITRAL Introduction Back in 1980s, the concept of resolving disputes through mediation or conciliation, in a different form under the title Alternative Dispute

More information

International Tax Conference

International Tax Conference International Tax Conference Hong Kong s Experience with its International Tax Treaty Network Richard Wong Commissioner of Inland Revenue 19 June 2014 1 Introduction Purpose of signing a tax treaty Fairness

More information

VIETNAM INTERNATIONAL ARBITRATION CENTRE AT THE CHAMBER OF COMMERCE AND INDUSTRY

VIETNAM INTERNATIONAL ARBITRATION CENTRE AT THE CHAMBER OF COMMERCE AND INDUSTRY VIETNAM INTERNATIONAL ARBITRATION CENTRE AT THE CHAMBER OF COMMERCE AND INDUSTRY PHAN TRONG DAT Vice Secretary General VIETNAM INTERNATIONAL ARBITRATION CENTRE VIAC Overview Established in 1993 The mergence

More information

Comparison between SCC arbitration and CIETAC arbitration

Comparison between SCC arbitration and CIETAC arbitration 1 Comparison between SCC arbitration and CIETAC arbitration by Dai Wen 1 and Linn Bergman 2 General Comparison The rules of the SCC and the CIETAC are similar in many ways. Both rules respect party autonomy,

More information

Arbitration Newsletter

Arbitration Newsletter Arbitration Newsletter 2014 I Issue 2 An overview of significant International Arbitration developments by Al Tamimi & Company In this Issue Recent Developments Qatari Court Decisions on Enforcement of

More information

JONES DAY COMMENTARY

JONES DAY COMMENTARY April 2012 JONES DAY COMMENTARY CIETAC Issues New Arbitration Rules: Interim Measures and Consolidation Among the Highlights On February 3, 2012, the China Council for the Promotion of International Trade

More information

H S B C H O L D I N G S P L C HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS. (Country-by-Country Reporting) REGULATION 2013

H S B C H O L D I N G S P L C HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS. (Country-by-Country Reporting) REGULATION 2013 HSBC HOLDINGS PLC THE CAPITAL REQUIREMENTS (Country-by-Country Reporting) REGULATION 2013 31 December 2015 This report has been prepared for HSBC Holdings plc and its subsidiaries (the HSBC Group ) to

More information

RESOLVING COMPLEX INTERNATIONAL DISPUTES USE OF THE ENGLISH JURISDICTION FOR EFFECTIVE DISPUTE RESOLUTION. Andrew Manning Cox

RESOLVING COMPLEX INTERNATIONAL DISPUTES USE OF THE ENGLISH JURISDICTION FOR EFFECTIVE DISPUTE RESOLUTION. Andrew Manning Cox RESOLVING COMPLEX INTERNATIONAL DISPUTES USE OF THE ENGLISH JURISDICTION FOR EFFECTIVE DISPUTE RESOLUTION Andrew Manning Cox Tel: +44 (0) 121 393 0427 Email: andrew.manningcox@wragge-law.com CHOOSING A

More information

DISPUTE RESOLUTION AND GOVERNING LAW CLAUSES IN CHINA-RELATED COMMERCIAL CONTRACTS LEGAL GUIDE FIFTH EDITION

DISPUTE RESOLUTION AND GOVERNING LAW CLAUSES IN CHINA-RELATED COMMERCIAL CONTRACTS LEGAL GUIDE FIFTH EDITION DISPUTE RESOLUTION AND GOVERNING LAW CLAUSES IN CHINA-RELATED COMMERCIAL CONTRACTS LEGAL GUIDE FIFTH EDITION Published November 2012 01 DISPUTE RESOLUTION AND GOVERNING LAW CLAUSES HERBERT SMITH FREEHILLS

More information

SINGAPORE - FINAL LIST OF MFN EXEMPTIONS (For the Second Package of Commitments) Countries to which the measure applies

SINGAPORE - FINAL LIST OF MFN EXEMPTIONS (For the Second Package of Commitments) Countries to which the measure applies All Sectors: Presence of: - unskilled and semi-skilled natural persons - skilled persons (include craftsmen skilled in a particular trade, but exclude specialists/professio nal personnel at management

More information

Arthur X. DONG. Partner, AnJie Law Firm. CONTACT INFORMATION Direct: Fax:

Arthur X. DONG. Partner, AnJie Law Firm. CONTACT INFORMATION Direct: Fax: 26 F, Tower D, Central International Trade Center A6 Jianguomenwai Avenue, Chaoyang District Beijing, 100022, P. R. China Tel : (86 10) 8567 5988 Fax: (86 10) 8567 5999 http://www.anjielaw.com Arthur X.

More information

JULIAN D M LEW QC. Arbitrator

JULIAN D M LEW QC. Arbitrator JULIAN D M LEW QC Arbitrator Julian Lew has been involved with international arbitration for more than 40 years as an academic, counsel and arbitrator. Before 2005, he was a partner and for some years

More information

Global: On the horizon for 2017

Global: On the horizon for 2017 11 Jan 2017 / Latest / Global: On the horizon for 2017 Global: On the horizon for 2017 By Sarah Hellewell / 15 Dec 2016 Regions & Countries Kenya, Mozambique, Nigeria, South Africa, Brazil, Canada, Mexico,

More information

Pranav Mago Head (South Asia)

Pranav Mago Head (South Asia) Pranav Mago Head (South Asia) Singapore s International arbitration framework SINGAPORE S international arbitration FRAMEWORK The Hub of all trades - excellent infrastructure and connectivity UNCITRAL

More information

Institutional vs. ad hoc arbitration: when and why?

Institutional vs. ad hoc arbitration: when and why? Institutional vs. ad hoc arbitration: when and why? GASI/ACC CONFERENCE 19.10.2017 1 Institutional vs. ad hoc arbitration Article 2(a) of the UNCITRAL Model Law on International Commercial Arbitration

More information

Challenges and Considerations

Challenges and Considerations Challenges and Considerations in Evaluating International Arbitration Venues Claudia T. Salomon Partner and Co-Chair, International Arbitration Practice Group DLA Piper LLP 1 [An Excerpt] Understanding

More information

Guide to Treatment of Withholding Tax Rates. January 2018

Guide to Treatment of Withholding Tax Rates. January 2018 Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep

More information

Why Finland Should Adopt the UNCITRAL Model Law on International Commercial Arbitration Christopher R. Seppälä

Why Finland Should Adopt the UNCITRAL Model Law on International Commercial Arbitration Christopher R. Seppälä Why Finland Should Adopt the UNCITRAL Model Law on International Commercial Arbitration Christopher R. Seppälä 25 January 2018, Discussion and Seminar on the Need for Revisions of the Finnish Arbitration

More information

THE ICSID CASELOAD STATISTICS (ISSUE )

THE ICSID CASELOAD STATISTICS (ISSUE ) THE ICSID CASELOAD STATISTICS (ISSUE 07-) The ICSID Caseload Statistics (Issue 07-) This issue of the ICSID Caseload Statistics updates the profile of the ICSID caseload, historically and for the Centre

More information

Bun & Associates ATTORNEYS AT LAW INTRODUCTORY GUIDE. Commercial Arbitration in Cambodia. Arbitration

Bun & Associates ATTORNEYS AT LAW INTRODUCTORY GUIDE. Commercial Arbitration in Cambodia. Arbitration INTRODUCTORY GUIDE Commercial Arbitration in Cambodia Arbitration 2014 * This guide is part of our publication series introducing the development of commercial arbitration in Cambodia. Subsequent publications

More information

ILLEGALITY IN INVESTMENT ARBITRATION. Sylvia T. Tonova

ILLEGALITY IN INVESTMENT ARBITRATION. Sylvia T. Tonova ILLEGALITY IN INVESTMENT ARBITRATION Sylvia T. Tonova Warsaw, Poland 7 June 2013 Investor-State Arbitration System Instruments: Bilateral Investment Treaties (BITs) Multilateral treaties (e.g. Energy Charter

More information

2 IN-HOUSE COUNSEL PRACTICAL GUIDE 3

2 IN-HOUSE COUNSEL PRACTICAL GUIDE 3 International Commercial Arbitration, an introduction 2010 in-house counsel practical guide 1 2 IN-HOUSE COUNSEL PRACTICAL GUIDE 3 Table of Contents 1 Introduction 7 2 Key points 9 3 Arbitration v. Litigation

More information

The Capital Requirements (Country-by-Country Reporting) Regulations December 2017

The Capital Requirements (Country-by-Country Reporting) Regulations December 2017 HSBC Holdings plc The Capital Requirements (Country-by-Country Reporting) Regulations 2013 31 December 2017 This report has been prepared for HSBC Holdings plc and its subsidiaries (the HSBC Group ) to

More information

VINAYAK P. PRADHAN. : LLB (Hons) Singapore. Appointed Acting Director of AIAC on 21 st November 2018

VINAYAK P. PRADHAN. : LLB (Hons) Singapore. Appointed Acting Director of AIAC on 21 st November 2018 VINAYAK P. PRADHAN Citizenship Education : Malaysian : LLB (Hons) Singapore Appointed Acting Director of AIAC on 21 st November 2018 Professional Qualifications Advocate & Solicitor, West Malaysia (1974)

More information

Arbitration Agreements DOs and DON Ts

Arbitration Agreements DOs and DON Ts Arbitration Agreements DOs and DON Ts CIArb Nuts & Bolts Lecture series Month Day, Year 11 September 2012 Mary Thomson Partner, FCIArb, FHKIArb, M.Energy Inst. Accredited Mediator & Adjudicator T +852

More information

Legal Business. Arbitration As A Method Of Dispute Resolution

Legal Business. Arbitration As A Method Of Dispute Resolution Memoranda on legal and business issues and concerns for multiple industry and business communities Arbitration As A Method Of Dispute Resolution 1 Rajah & Tann 4 Battery Road #26-01 Bank of China Building

More information

Arbitration and Forum Shopping in the Seat

Arbitration and Forum Shopping in the Seat 2016/SOM1/EC/WKSP1/006 Session 5 Arbitration and Forum Shopping in the Seat Submitted by: Hong Kong, China Workshop on Dispute Resolution Lima, Peru 26 February 2016 Arbitration and Forum Shopping in the

More information

COUNTRY COST INDEX JUNE 2013

COUNTRY COST INDEX JUNE 2013 COUNTRY COST INDEX JUNE 2013 June 2013 Kissell Research Group, LLC 1010 Northern Blvd., Suite 208 Great Neck, NY 11021 www.kissellresearch.com Kissell Research Group Country Cost Index - June 2013 2 Executive

More information

Practical Tips on Commencement of Arbitration

Practical Tips on Commencement of Arbitration 2016/SOM1/EC/WKSP1/008 Session 7 Practical Tips on Commencement of Arbitration Submitted by: Hong Kong, China Workshop on Dispute Resolution Lima, Peru 26 February 2016 APEC Economic Committee Workshop

More information

Unauthorized Amiable Compositeur?

Unauthorized Amiable Compositeur? Unauthorized Amiable Compositeur? Kiev Arbitration Days Think Big! Dr. Mark C. Hilgard Partner +49 69 7941 2271 mhilgard@mayerbrown.com 14 November 2013 Mayer Brown is a global legal services provider

More information

INTERNATIONAL COMMERCIAL ARBITRATION - THE ESSENTIALS.

INTERNATIONAL COMMERCIAL ARBITRATION - THE ESSENTIALS. INTERNATIONAL COMMERCIAL ARBITRATION - THE ESSENTIALS The Issues 1. Arbitration as a mechanism for resolving disputes 2. Why Arbitrate rather than Litigate or Mediate 3. Drafting Arbitration Agreement

More information

ASEAN Law Association

ASEAN Law Association IMPROVING ON ENFORCEMENT OF INTERNATIONAL COMMERCIAL ARBITRATION AWARDS IN ASEAN COUNTRIES (Brunei Darussalam Perspectives) Haji Mohammad Rosli bin Haji Ibrahim, Brunei Darussalam Attorney Generals Chambers

More information

Sally Harpole 何蓉. International arbitrator, mediator and attorney with over 40 years of experience in Asia.

Sally Harpole 何蓉. International arbitrator, mediator and attorney with over 40 years of experience in Asia. Sally Harpole 何蓉 International arbitrator, mediator and attorney with over 40 years of experience in Asia. Introduction Sally Harpole is a full-time independent arbitrator and mediator for complex international

More information

Financial law reform: purpose and key questions

Financial law reform: purpose and key questions Conference on Cross-Jurisdictional Netting and Global Solutions Update on Netting in Asia May 12, 2011 London School of Economics and Political Science Peter M Werner Senior Director ISDA pwerner@isda.org

More information

Theodoor Bakker FCIArb Graha CIMB Niaga, 24th Floor Jln. Jend. Sudirman Kav. 58 Jakarta 12190

Theodoor Bakker FCIArb Graha CIMB Niaga, 24th Floor Jln. Jend. Sudirman Kav. 58 Jakarta 12190 The 1958 New York Convention and the 1962 ICSID Convention Securing the Enforcement of International Arbitration Awards The Future of the Multilateral Investment Court Theodoor Bakker FCIArb Graha CIMB

More information

Managing political and commercial risks by means of arbitration & White & Case. 4 th Managing Risk in Africa Dr. Markus Burianski, Mark Goodrich

Managing political and commercial risks by means of arbitration & White & Case. 4 th Managing Risk in Africa Dr. Markus Burianski, Mark Goodrich Managing political and commercial risks by means of arbitration & White & Case 4 th Managing Risk in Africa Dr. Markus Burianski, Mark Goodrich 25 February 2015 Africa Botswana: Government fires Chinese

More information

ARBITRATION OF INTERNATIONAL INTELLECTUAL PROPERTY DISPUTES

ARBITRATION OF INTERNATIONAL INTELLECTUAL PROPERTY DISPUTES ARBITRATION OF INTERNATIONAL INTELLECTUAL PROPERTY DISPUTES THOMAS D. HALKET EDITOR JURIS Questions About This Publication For assistance with shipments, billing or other customer service matters, please

More information

CMS Guide to Arbitration

CMS Guide to Arbitration Editors: Torsten Lörcher, Guy Pendell and Jeremy Wilson CMS Guide to Arbitration VOLUME I With contributions from law firms Hergüner Bilgen Özeke Attorney Partnership, Khaitan & Co, Minter Ellison and

More information

CNH and China QFII market: Opportunities and Challenges A Fund Custodian and Administrator's Perspective"

CNH and China QFII market: Opportunities and Challenges A Fund Custodian and Administrator's Perspective CNH and China QFII market: Opportunities and Challenges A Fund Custodian and Administrator's Perspective" Eric Chow HSBC Securities Services June 2011 2 Agenda About HSBC Securities Services (HSS) Introducing

More information

International Arbitration: A Key Protection for Foreign Investments

International Arbitration: A Key Protection for Foreign Investments Welcome to Our Fall 2006 Seminar Series: International Arbitration: A Key Protection for Foreign Investments October 10, 2006 1 Speakers: John J. Kerr, Jr. Peter C. Thomas Robert H. Smit Janet M. Whittaker

More information

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%)

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%) Double Tax Treaties DTA Country Withholding Tax Rates (%) Albania 0 0 5/10 1 No No No Armenia 5/10 9 0 5/10 1 Yes 2 No Yes Australia 10 0 15 No No No Austria 0 0 10 No No No Azerbaijan 8 0 8 Yes No Yes

More information

FRANCHISING DISPUTES IN INDIA CHOICES DICTATE THE CONSEQUENCES

FRANCHISING DISPUTES IN INDIA CHOICES DICTATE THE CONSEQUENCES CHOICES DICTATE THE CONSEQUENCES Divya Sharma, Bird & Bird LLP, London, UK This article analyses the factors franchisors should take into account when choosing an appropriate dispute resolution mechanism

More information

ASEAN Law Association 12 th General Assembly Workshop

ASEAN Law Association 12 th General Assembly Workshop ASEAN Law Association 12 th General Assembly Workshop Trade and Investment Dispute Settlement Mechanisms in ASEAN The Evolving Landscape and Major Developments 25-28 February 2015 Locknie Hsu Professor

More information

2011 Winston & Strawn LLP

2011 Winston & Strawn LLP Investor-State Arbitration: Effective Means to Resolve Disputes Between a Foreign Investor and a Host State Brought to you by Winston & Strawn s International Dispute Resolution Practice Group 2 Today

More information

International Arbitration: What it is and how it works. Outline of lecture

International Arbitration: What it is and how it works. Outline of lecture International Arbitration: What it is and how it works 2 May 2012 Practitioners Training Day Labourdonnais Hotel, Mauritius Lise Bosman Outline of lecture A. Dispute resolution techniques B. Advantages

More information

Arbitration under the Auspices of the Cairo Regional Centre for Commercial Arbitration

Arbitration under the Auspices of the Cairo Regional Centre for Commercial Arbitration Berkeley Journal of International Law Volume 4 Issue 2 Fall Article 8 1986 Arbitration under the Auspices of the Cairo Regional Centre for Commercial Arbitration Aboul Enein Recommended Citation Aboul

More information

Investment Policy Liberalization and Cooperation in ASEAN: Thailand s View

Investment Policy Liberalization and Cooperation in ASEAN: Thailand s View Investment Policy Liberalization and Cooperation in ASEAN: Thailand s View By Jaratrus Chamratrithirong 18 November 2010 Jakarta Roadmap Investment Policy Liberalization and Cooperation in ASEAN: An Overview

More information

BEST PRACTICES IN INTERNATIONAL ARBITRATION. Summary of Contents

BEST PRACTICES IN INTERNATIONAL ARBITRATION. Summary of Contents BEST PRACTICES IN INTERNATIONAL ARBITRATION Summary of Contents The NAFTA 2022 Committee... 2 ADR in the NAFTA Region... 2 Guide to Private Sector Dispute Resolution in the NAFTA Region... 2 I. Methods/Forms

More information

Foreign Investments in Emerging Markets

Foreign Investments in Emerging Markets Foreign Investments in Emerging Markets Jose W. Fernandez Ronald Kirk Rahim Moloo February 11, 2015 Overview The rapid growth of emerging markets can provide investors with higher expected returns and

More information

The New Arbitration Law in Qatar and the UNCITRAL model law: Key differences

The New Arbitration Law in Qatar and the UNCITRAL model law: Key differences The New Arbitration Law in Qatar and the UNCITRAL model law: Key differences Philip Norman Simmons & Simmons Middle East LLP 20 March 2018 Contents Requirements for arbitrators Arbitrators liability Stay

More information

Managing Time and Costs More Effectively: Some Observations on the Potential Tension between Party Autonomy and Due Process under the Model Law

Managing Time and Costs More Effectively: Some Observations on the Potential Tension between Party Autonomy and Due Process under the Model Law Managing Time and Costs More Effectively: Some Observations on the Potential Tension between Party Autonomy and Due Process under the Model Law Kim M Rooney ARTICLES 1. Introduction Commercially driven

More information

ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators

ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators Methodology The Starting a Foreign Investment indicators quantify several aspects of business establishment regimes important

More information

DISPUTE RESOLUTION SIMPLIFYING MATTERS

DISPUTE RESOLUTION SIMPLIFYING MATTERS DISPUTE RESOLUTION SIMPLIFYING MATTERS SWEDEN FINLAND THE BALTIC SEA REGION LAW FIRM NORWAY ESTONIA LATVIA RUSSIA MAGNUSSON WHO ARE WE? DENMARK LITHUANIA POLAND BELARUS We offer seamless legal services

More information

PRACTITIONER S HANDBOOK ON INTERNATIONAL ARBITRATION AND MEDIATION

PRACTITIONER S HANDBOOK ON INTERNATIONAL ARBITRATION AND MEDIATION PRACTITIONER S HANDBOOK ON INTERNATIONAL ARBITRATION AND MEDIATION THIRD EDITION DANIEL M. KOLKEY RICHARD CHERNICK BARBARA REEVES NEAL Editors JURIS Questions About This Publication For assistance with

More information

RULES OF ARBITRATION OF AMCHAM PERU (In force from September 1, 2008)

RULES OF ARBITRATION OF AMCHAM PERU (In force from September 1, 2008) RULES OF ARBITRATION OF AMCHAM PERU (In force from September, 008) INDEX Introductory Notes RULES OF ARBITRATION OF AMCHAM PERU INTRODUCTORY PROVISIONS Article The International Arbitration Center Article

More information

Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce

Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce Draft for public consultation 26 April 2016 Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce MODEL ARBITRATION CLAUSE Any dispute, controversy or claim arising out of

More information

Korea s Ease of Doing Business

Korea s Ease of Doing Business The Association of Southeast Asian Nations Korea s Ease of Doing Business Commercial Legal Affairs Division Ministry of Justice Republic of Korea Table of Contents 1. What is Doing Business? (Enforcing

More information

THE CULTURE CHALLENGE FROM LITIGATION TO SETTLEMENT

THE CULTURE CHALLENGE FROM LITIGATION TO SETTLEMENT THE CULTURE CHALLENGE FROM LITIGATION TO SETTLEMENT CAPE CHAMBER OF COMMERCE AND INDUSTRY CONFERENCE November 2013 Presented by John Brand INTRODUCTION OUTLINE An overview of the international culture

More information

THE ICSID CASELOAD STATISTICS (ISSUE )

THE ICSID CASELOAD STATISTICS (ISSUE ) THE ICSID CASELOAD STATISTICS (ISSUE 07 ) The ICSID Caseload Statistics (Issue 07 ) This issue of the ICSID Caseload Statistics updates the profile of the ICSID caseload, historically and for the calendar

More information

CELESTE E. SALINAS QUERO

CELESTE E. SALINAS QUERO STOCKHOLM, 2017 CELESTE E. SALINAS QUERO Table of contents BY: CELESTE E. SALINAS QUERO I. Introduction 1 II. SCC 1 III. The SCC s Dispute Resolution Services in investor-state disputes 1 Administration

More information

Legal integration: the importance of UNCITRAL standards

Legal integration: the importance of UNCITRAL standards Legal integration: the importance of UNCITRAL standards 1 2 3 Adopting UNCITRAL standards: Policy implications CISG: Its influence and scope of applictaion UNCITRAL Model Law on Secured Transactions: Aims,

More information

Investor-State Dispute Settlement: Thinking Forward. Julien Chaisse

Investor-State Dispute Settlement: Thinking Forward. Julien Chaisse Investor-State Dispute Settlement: Thinking Forward Julien Chaisse FULFILLING THE VISION EU FUTURES? Tuesday, 17 October 2017 Session 5A Towards an Australia/EU FTA 14:30 16:00 Investor-state dispute settlement

More information

Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce

Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce MODEL ARBITRATION CLAUSE Any dispute, controversy or claim arising out of or in connection with this contract, or the

More information

International Investment Arbitration

International Investment Arbitration International Investment Arbitration Professor Loukas Mistelis School of International Arbitration Queen Mary University of London Issues Covered Introduction The course teacher students Subject Regulatory

More information

Debevoise International Arbitration Clause Handbook

Debevoise International Arbitration Clause Handbook Debevoise International Arbitration Clause Handbook A model clause and a checklist of issues to consider in drafting an arbitration clause, with suggested text and commentaries Includes: Updated Debevoise

More information

Current Issues in International Tax Policy

Current Issues in International Tax Policy Current Issues in International Tax Policy Shigeto HIKI Director, International Tax Policy Division, Tax Bureau, Ministry of Finance, Japan The Fourth IMF-Japan High-Level Tax Conference For Asian Countries

More information

CASE STUDY: INTERNATIONAL ARBITRATION FRAMEWORK AND PRACTICE IN TURKEY by BENNAR AYDOĞDU 1

CASE STUDY: INTERNATIONAL ARBITRATION FRAMEWORK AND PRACTICE IN TURKEY by BENNAR AYDOĞDU 1 CASE STUDY: INTERNATIONAL ARBITRATION FRAMEWORK AND PRACTICE IN TURKEY by BENNAR AYDOĞDU 1 I. INTERNATIONAL ARBITRATION FRAMEWORK IN TURKEY The term arbitration first appeared in the Code of Civil Procedure

More information

APA & MAP COUNTRY GUIDE 2017 CANADA

APA & MAP COUNTRY GUIDE 2017 CANADA APA & MAP COUNTRY GUIDE 2017 CANADA Managing uncertainty in the new tax environment CANADA KEY FEATURES Competent authority APA provisions/ guidance Types of APAs available APA acceptance criteria Key

More information

THE ICSID CASELOAD STATISTICS (ISSUE )

THE ICSID CASELOAD STATISTICS (ISSUE ) THE ICSID CASELOAD STATISTICS (ISSUE 08-) The ICSID Caseload Statistics (Issue 08-) This issue of the ICSID Caseload Statistics updates the profile of the ICSID caseload, historically and for the calendar

More information

Making Sense of the California Song-Beverly Act: What Retailers Need to Know About Collecting Personal Information in Credit Card Transactions

Making Sense of the California Song-Beverly Act: What Retailers Need to Know About Collecting Personal Information in Credit Card Transactions Making Sense of the California Song-Beverly Act: What Retailers Need to Know About Collecting Personal Information in Credit Card Transactions Wednesday, March 2, 2011 Web Seminar 2011 Fulbright & Jaworski

More information

FTSE Annual Country Classification Review Published: 26 September 2018

FTSE Annual Country Classification Review Published: 26 September 2018 FTSE Classification of Markets FTSE Annual Country Classification Review Published: 26 September 2018 Headlines China A to be assigned Secondary Emerging market status commencing June 2019 Iceland to be

More information

World s Best Investment Bank Awards 2018

World s Best Investment Bank Awards 2018 Global Finance will publish its selections for the 19th Annual World s Best Investment Banks in the April 2018 issue. Winners will be honored at an awards ceremony in New York City in March, and all award

More information

Fourteenth Report on G20 Investment Measures 1

Fourteenth Report on G20 Investment Measures 1 30 October 2015 Fourteenth Report on G20 Measures 1 As the global financial crisis broke seven years ago, G20 Leaders committed to resisting protectionism in all its forms at their 2008 Summit in Washington.

More information

Investing In and Through Singapore

Investing In and Through Singapore Investing In and Through Singapore Shanker Iyer 17 May 2012 Contents Benefits of Singapore Setting Up and Ongoing Requirements Territorial Tax System Taxation of Passive Income and Other income Tax Incentives

More information

Myanmar a new law for a new era

Myanmar a new law for a new era Myanmar a new law for a new era Tuesday, 2 February 2016 (Yesterday) Mahdev Mohan and Clive Myint Soe of Providence Law Asia in Singapore, Hnin Ei Ei Aung of U Tin Yu and Associates in Yangon and Jaya

More information