Premium article - November 15, 2011
Egyptian professor Georges Abi-Saab has resigned from a tribunal hearing a mass claim by 60,000 bondholders against Argentina, after warning of the potentially disruptive effects on the international financial system if ICSID becomes the forum of choice for sovereign debt disputes. Abi-Saab resigned days after issuing a dissent condemning the decision to allow the first collective action in ICSID's history - a US$1 billion claim by Italian nationals affected by Argentina's debt default in 2002. Co-arbitrators...
Premium article - November 07, 2011
Last week's International Bar Association conference in Dubai attracted record numbers - but the event almost didn't take place because of objections to the subject-matter of some sessions on the part of the United Arab Emirates government.
Premium article - June 13, 2011
Arbitrators in investor-state cases should be more mindful of their role in shaping international legal standards and be prepared to consider environmental and human rights law when making their decisions, delegates at the ICCA 50th anniversary conference heard. Judge Bruno Simma of the International Court of Justice told the conference that arbitrators should be encouraged to integrate human rights law in their awards to strengthen the legitimacy of the investment treaty regime. He said that states...
Premium article - May 12, 2011
The role of damages experts in international arbitration has never been more prominent - or more in debate. Does their input lead to a better outcome for the client or do they make proceedings more costly and complicated? Sebastian Perry reports "The forensic industry has invaded arbitration," suggested Jan Paulsson of Freshfields Bruckhaus Deringer at a recent conference in Hong Kong. While he acknowledged that experts can fulfil an important role, he said often the need for them is "invented" and...
Premium article - April 11, 2011
Audit firm KPMG is seeking to overturn a Swedish arbitral award on the ground that the arbitrator it appointed to hear the case - a partner at Roschier in Stockholm - had a conflict of interests.