On 11 September 2019, the District Court of Columbia confirmed a 2013 ICSID award in favour of Mr. Ioan Micula and the companies in which he had invested. Romania repealed economic incentives the Micula brothers had relied upon when making investments in 1998. In 2013, an ICSID arbitral tribunal rendered an award in favour of […]
Confidentiality in International Arbitration: Obligations Under English, French and U.S. Laws
Confidentiality is often regarded as one of the core advantages of international arbitration. For instance, confidentiality reduces disclosure of sensitive information and the influence of public opinion.[1] Confidentiality is to be distinguished from privacy, which concerns the fact that only parties to the arbitration agreement may attend hearings and participate in arbitral proceedings.[2] Privacy prevents interference from […]
International Arbitration Agreements and Kompetenz-Kompetenz: A Comparative Perspective Between USA and France
The Kompetenz-Kompetenz doctrine presumes that an international arbitral tribunal has jurisdiction to assess and decide its own jurisdiction. Legal systems adopt different approaches to the Kompetenz-Kompetenz principle. National arbitration legislation varies regarding the versions of the Kompetenz-Kompetenz principle adopted.[1] The principle involves two types of effects. The positive effect of Kompetenz-Kompetenz is that the arbitral […]
Enforcement of Arbitral Awards against State Assets: Sovereign Immunity in the United States
The main issue related to enforcement of an arbitral award against a State in the United States is the State’s sovereign immunity. Under the Foreign Sovereign Immunities Act (“FSIA”), foreign sovereigns enjoy immunity from jurisdiction, a presumptive immunity from suit in U.S. federal and state courts, and immunity from execution, whereby their property is immune […]
Intra-EU Arbitrations and the Enforcement of ICSID Awards in the United States: the Impact of Achmea
The ICSID Convention requires signatories to treat arbitral awards rendered according to the ICSID framework as if they were a final judgment of a court in that State.[1] To challenge an award, the claimant shall seek review within the ICSID arbitral regime, rather than before State courts.[2] To implement the Convention, the U.S. Congress in […]