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Asia Pacific Australia Final report of government inquiry into banking and financial services A Government inquiry is examining standards and misconduct in the banking and financial services industry, with a final report due by 1 February 2019. Financial institutions have already been served with legal proceedings (including class actions) arising from the inquiry, which is expected to continue. First year of Trans-Pacific Partnership Australia has ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, along…

To paraphrase Pharaoh Ramses II, so it is written, so it shall be done. In Schein, Inc. v. Archer and White Sales, Inc., 586 U.S. __ (January 8, 2019), the first opinion by Justice Kavanaugh, a unanimous Supreme Court reiterated this principle of the Federal Arbitration Act. Specifically, the Court confirmed that when an arbitration agreement delegates to an arbitrator the question of whether the agreement applies to a particular dispute, courts have no power to decide…

Outokumpu Stainless USA, LLC, et al. v. Converteam SAS, No. 17-10944 (11th Cir. 2018) [click for opinion] Plaintiff Outokumpu Stainless, LLC (“Outokumpu”), through its predecessor ThyssenKrupp Stainless USA LLC, entered into three agreements to purchase from a company called Fives three “cold running mills” (“CRMs”) (the “Contracts”). All three Contracts contained arbitration clauses. They also contained a provision stating that the terms would be binding on subcontractors. Fives entered into a subcontract with GE Energy…

The never-ending clash between the Civil Law and Common Law traditions in international arbitration took center-stage once again in 2018, with the introduction of the Inquisitorial Rules on the Taking of Evidence in International Arbitration, or the “Prague Rules”. Lawyers from the Civil Law tradition, increasingly dissatisfied with the IBA Rules on the Taking of Evidence in International Arbitration, introduced the Prague Rules as an alternative to the “adversarial approach” embodied in the IBA Rules.…