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Nowadays high value M&A transactions and project structures can be very complex, in particular involving a number of parties based in different jurisdictions who between them enter into a variety of related contracts. To save time and money, parties can seek to resolve all the issues in dispute in the same set of legal proceedings, rather than in many different, but related, proceedings. This has traditionally been done relatively easily in court proceedings. However it…

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.…

Parties who want to opt for institutional arbitration (instead of ad-hoc arbitration) can choose amongst a long list of local and truly international arbitral institutions. In an earlier post, we have already examined if it makes a difference whether parties choose one arbitral institution or the other. In this blog post, we compile the latest statistics on the annual caseload of the institutions and we make a short analysis of the numbers. The institutions find…

In Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela, No. 14-8163-cv (S.D.N.Y. Mar. 4, 2015), the District Court for the Southern District of New York confirmed an ICSID award’s interest rate, denying Defendant’s motion to modify the award to reflect a statutory interest rate. Defendant, Venezuela, sought modification of a prior order of the court (the “Opinion”) which confirmed Plaintiff’s $1.6 billion International Centre for Settlement of Investment Disputes (“ICSID”) arbitral award. Defendant argued…