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Tag Archives: arbitration

Will life sciences provide a growth injection for international arbitration?

This blog post was first published on the Practical Law Arbitration blog. The use of international arbitration has expanded over the years to encompass a wide array of sectors. For example, while the majority of financial services disputes still end up in court, many of them are submitted to arbitration. Of the London Court of International Arbitration’s (LCIA’s) caseload in 2016, 20% comprised of such disputes. This was more than either construction or shipping. This raises the question of which other industry sectors might provide a larger number of arbitrations

Hong Kong courts are to have due regard to decisions affecting an arbitral award rendered by a court at the seat of arbitration

In Dana Shipping and Trading SA v Sino Channel Asia Ltd (HCCT47/2015), the Honourable Madam Justice Mimmie Chan of the Hong Kong Court of First Instance (“CFI“), in the latest decision in this case, declined enforcement of an arbitral award that had been set aside at its seat in London. Background The enforcement proceedings concerned an arbitral award rendered in London-seated arbitral proceedings in favour of the Applicant (“the Award“). On 16 November 2015, the CFI granted an order to enforce the award (“the Enforcement Order“). On 27 November 2015,

Hong Kong Court requires substantial security to stay enforcement of an arbitral award

In L v B (HCCT41/2015), the Honourable Madam Justice Mimmie Chan of the Hong Kong Court of First Instance (“CFI“) adjourned enforcement of an arbitral award for four months on the condition that a substantial security of HK$41.6 million including unpaid award and costs to be furnished by the losing party in the arbitral proceedings. Background The Applicant commenced arbitral proceedings against the Respondent for breach of a Non-Recourse Loan Agreement (“the Agreement”).  Under the Agreement, the Respondent agreed to advance a loan to the Applicant against the transfer of

Second Circuit Finds That Arbitrators Should Decide Claim Preclusion Of Confirmed Award

In its recent decision Citigroup, Inc. v. Abu Dhabi Investment Authority, No. 13-4825-cv, 2015 WL 161745 (2d Cir. Jan. 14, 2015), the U.S. Court of Appeals for the Second Circuit found that the question of whether a federal judgment confirming a prior arbitral award precludes subsequent arbitration of claims, is ordinarily for the arbitrators to decide, not the federal courts. The dispute centered on an investment agreement between Citigroup, Inc. (“Citi”) and the Abu Dhabi Investment Authority (“ADIA”). The agreement contained a broad arbitration clause, providing that “any dispute that

The International Chamber of Commerce launches new Expert Rules

On 14 January 2015, the International Chamber of Commerce (“ICC”) International Centre for ADR launched its 2015 Expert Rules, which set out procedures for the proposal and appointment of experts and neutrals, as well as for the administration of expert proceedings, by the ICC. The new ICC Expert Rules will come into force on 1 February 2015 and will replace the 2003 ICC Rules for Expertise. The new rules are designed to clarify the range of expert services offered by the ICC (i.e., proposal, appointment and administration of expert proceedings)

The Colombian Executive issues new directive regulating arbitration clauses in government contracts

In November 2014, the Colombian Executive, by way of Presidential Directive No. 4 of 2014, established new guidelines that government agencies need to follow to enter into arbitration agreements. Key provisions include: (a)    Arbitration agreements To enter into an arbitration agreement, the contracting government agency must first issue an explicit decision containing a comprehensive analysis explaining why arbitral jurisdiction is more favorable than the domestic jurisdiction of administrative law courts in that particular case. Thus, every time that a government agency decides to enter into an arbitration agreement, the officers of

Hong Kong International Arbitration Centre publishes new UNCITRAL Arbitration Rules

On 1 January 2015, the Hong Kong International Arbitration Centre (HKIAC) introduced the HKIAC Procedures for the Administration of Arbitration under the UNCITRAL Arbitration Rules (the “2015 Rules“). The 2015 Rules are designed to provide a single, user-friendly system for arbitrations conducted under any version of the UNCITRAL rules.  The 2015 Rules apply equally to international commercial and investment treaty arbitrations. The key changes include: (a) Notice and Response of Arbitration: There are now express provisions regarding the filing of the Notice of Arbitration and its Response. The parties, rather

Hong Kong’s Chief Executive affirms importance of arbitration

In his annual Policy Address, delivered earlier today, C Y Leung the Chief Executive of the Hong Kong SAR emphasised the importance of dispute resolution services to Hong Kong.  He observed that this was consistent with Hong Kong’s tradition of the rule of law.  He noted that during 2014, the China Maritime Arbitration Commission established an office in Hong Kong, its first branch office outside the Mainland. The Central Government and the HKSAR Government have recently signed the Host Country Agreement and the related Memorandum of Administrative Arrangements respectively with

ICC launches a guide for In-House Counsel on the Effective Management of Arbitration

On 6 June 2014, the ICC unveiled its new Guide for In-House Counsel and Other Party Representatives on the Effective Management of Arbitration. The Guide represents the latest step by the ICC to address the issues of time and cost efficiency in arbitration.  It follows on from the ICC’s report in 2007 on controlling time and costs in arbitration and the subsequent launch of the revised ICC Rules, which came into force on 1 January 2012 and include new provisions specifically aimed at ensuring that time and cost effective procedures