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Chapter

Overview - Limits to the Principle of ‘Full Compensation’

18 October 2019

Introduction Submissions dealing with damages often start with a reference to the 1928 Chorzów ruling by the Permanent Court of International Justice and a rehearsal of the principle of reparation:

Ukraine

18 October 2019

Execution immunity and collection against sovereign assets: a case for the Russian Federation With a growing number of multimillion and multibillion arbitral awards against the Russian Federation for the expropriation of investments of Ukrainian nationals in annexed Crimea, the victorious investors will soon have to enforce these awards against sovereign assets of the Russian Federation worldwide and will test the issue of sovereign immunity in the municipal courts of forum states where the Russian Federation, its agencies and state-owned enterprises (SOEs) may have assets.

Spain

18 October 2019

The concept of public policy is somewhat vague and nebulous in Spain. Open to narrow and broad interpretations, we have recently seen how public policy may be a potential way of escaping the enforcement of an unfavourable arbitral award and how it may be used in seeking the annulment of the same award. A string of recent decisions from the Superior Court of Madrid (TSJM) annulling a number of arbitration awards on the grounds of public policy, inter alia, has sparked a debate on how thorough a judge’s examination of an award should be, and in which circumstances public policy should be used to annul an award. This article provides a brief overview of the public policy exception and its various means of interpretation and application by taking a glance at how these questions are determined in a number of different jurisdictions.

Sweden

18 October 2019

Sweden has a long-standing tradition of resolving civil disputes through arbitration. In 1734, Sweden passed a law that allowed parties to resolve certain forms of disputes by means of arbitration, and in the late 1800s Sweden adopted its first comprehensive arbitration act. Moreover, over the course of the 20th century, Sweden positioned itself as a popular venue for international arbitration. During the Cold War, parties from the United States (and other Western countries), the Soviet Union and China regarded Sweden as a neutral venue and the Arbitration Institute of the Stockholm Chamber of Commerce (the SCC Institute) as a neutral administrator of disputes. Therefore, they frequently included arbitration clauses in their agreements that stipulated that the seat of arbitration should be Stockholm, Sweden, and that the arbitration should be administrated by the SCC Institute. Since then, the SCC Institute’s popularity has anything but declined.

Russia

18 October 2019

Introductory remarks The past few years have brought considerable turmoil to arbitration in Russia. In 2015–2016, arbitration laws and arbitral institutions went through a major reform that was intended to modernise the legal framework in Russia by bringing it in line with the UNCITRAL Model Law on International Commercial Arbitration of 1985 as amended in 2006 (the UNCITRAL Model Law of 2006) [1] as well as combat partial and corrupt ‘pocket’ institutions, thus making Russia a more arbitration-friendly jurisdiction. [2]

Poland

18 October 2019

Introduction The year 2019 in the Polish arbitration landscape is dominated by amendments introduced to part V of the Polish Code of Civil Procedure (CCP). Whereas the reform of 2016 concerned mainly challenges to arbitral awards before state courts as well as recognition and enforcement proceedings, [1] this latest round of amendments has been focused on the arbitrability of corporate disputes and touched various aspects connected with arbitration clauses. Some of the issues addressed by the legislature have been the subject of vigorous disputes among Polish scholars for many years, so these amendments had been highly anticipated by the arbitration community. The question remains whether these amendments can be assessed as a success, or as a half-hearted effort at coming to grips with the doubts raised in legal doctrine.

Portugal

18 October 2019

Considered by its investors as ‘the best place in the world to invest’, [1] Portugal seems to have found an answer to its economic and financial crisis. By offering incentives to businesses and a favourable tax regime for foreign nationals, it has been able to attract a substantial number of foreign citizens from the European Union and the rest of the world. But what about arbitration?

Norway

18 October 2019

Norway has established itself as a source of high-quality counsel and arbitrators for international disputes, in particular in the petroleum and shipping industries. The Norwegian Oil and Energy Arbitration Association (NOEAA) aims to make this competence visible and available worldwide. Norwegian arbitration law also has some unique features which may prove attractive for those seeking arbitrators with highly specific fields of competence. Historically, ad hoc arbitration was the norm in Norway. In recent years, institutional arbitration has become increasingly popular. In this regard, the Oslo Chamber of Commerce (OCC) aims to increase the popularity of institutional arbitration with new, modern rules. Similarly, the newly established Nordic Offshore and Maritime Arbitration Association (NOMA) offers institutional arbitration with a light touch, as well as best practice guidelines for those who still prefer ad hoc arrangements. NOMA’s rules have been included in the 2019 version of the Nordic Marine Insurance Plan.

Netherlands

18 October 2019

In the Netherlands, arbitration has traditionally been the most important form of dispute resolution (along with court litigation), particularly for the resolution of construction or trade disputes. Such disputes are usually brought before the Netherlands Arbitration Institute (NAI), which recently celebrated its 70th anniversary, or the Arbitration Board for the Building Industry. The Netherlands is also renowned as a place for arbitration of international disputes. There are many reasons why the Netherlands is an attractive seat for international arbitration; as the host state of many international courts and tribunals – including the International Court of Justice, the Permanent Court of Arbitration and the International Criminal Court, as well as many specialised arbitration institutions – the Netherlands offers a favourable legal and logistical environment for accommodating, administering and conducting international arbitral proceedings.

Italy

18 October 2019

Introduction Although Italy has not taken the lead in the tradition of international arbitration, [1] alternative dispute resolution (ADR) practices are playing an increasingly relevant role in the business community as an ordinary way to settle disputes, especially in corporate, banking and intellectual property (IP) matters. [2]