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UK Litigation Funding Agreements for International Arbitration Now Void?

03/09/2023 by Aceris Law LLC

UK Litigation Funding Agreements for International Arbitration

Previously considered contrary to public policy[1], third-party funding today substantially facilitates access to justice. Many parties do not have the resources to pay for litigation or international arbitration, yet third-party funding has allowed numerous meritorious claims to succeed. Third-party funding is also often used in group litigation, where the pursuit of claims can be challenging […]

Filed Under: Third-Party Funding

Annulment of Arbitral Awards Under the UNCITRAL Model Law

26/08/2023 by Aceris Law LLC

Annulment of Arbitral Awards

Arbitral awards are final and binding. In certain circumstances, however, they can be challenged or annulled through judicial proceedings. The annulment of arbitral awards (also known as “setting aside” or “vacatur”) refers to the legal process by which a court sets aside or nullifies an arbitration award that has been issued by an arbitral tribunal. […]

Filed Under: Annulment of Arbitral Award, UNCITRAL Model Law

Pre-Arbitral Requirements

26/08/2023 by Aceris Law LLC

Pre-Arbitral Requirements

It is common to encounter pre-arbitral requirements in international arbitration agreements.[1] Compliance with these procedural requirements, included in multi-tiered dispute resolution clauses, is typically a prerequisite to the commencement of arbitration proceedings.[2] The underlying intent of these requirements is to ensure that parties in dispute make genuine efforts to amicably resolve their issues before resorting […]

Filed Under: International Arbitration Law

Arbitration in Nigeria: The 2023 Reform

20/08/2023 by Aceris Law LLC

New Nigerian Arbitration Act

On 23 May 2023, Nigeria introduced the 2023 Arbitration and Mediation Act (the “New Act”), repealing its 35-year-old arbitration act (the 1988 Nigerian Arbitration and Conciliation Act, Cap A18). The New Act aims to “provide a unified legal framework for the fair and efficient settlement of commercial disputes by arbitration and mediation”. It also “make[s] […]

Filed Under: Nigeria Arbitration

International Arbitration in Ecuador

12/08/2023 by Aceris Law LLC

Arbitration in Ecuador

The Arbitration and Mediation Act (“Act”) of Ecuador was first enacted in 1997. However, even after amendments adopted in 2015, the legislation contained regulatory gaps and vague terms, which did not allow arbitrators and judges to build a steady body of interpretation. The fact that the country denounced the ICSID Convention in 2009 added further […]

Filed Under: Ecuador Arbitration

Arbitration in the United Arab Emirates (UAE)

06/08/2023 by Aceris Law LLC

Arbitration in the UAE

Arbitration in the United Arab Emirates (UAE) is a reliable and efficient method for resolving conflicts in a world where commercial disputes can arise quickly. Known for its dynamic business landscape and international trade, the UAE has embraced arbitration as a powerful means of settling commercial disputes. In this note, we delve into the nuances […]

Filed Under: United Arab Emirates Arbitration

Arbitration and Third Parties: The Issue of Non-Signatories

06/08/2023 by Aceris Law LLC

International Arbitration Third Parties

Arbitration and third parties is a topic which, over and above its academic relevance, has important practical implications for parties in international arbitration proceedings. The issue of arbitration and third parties may concern situations where a party wishes to refer to arbitration another party that was not part of the main contract and therefore did […]

Filed Under: England Arbitration, France Arbitration, International Arbitration Law

The 2023 SCCA Arbitration Rules

16/07/2023 by Aceris Law LLC

SCCA Arbitration Clause

The Saudi Center for Commercial Arbitration (the “SCCA”) is an arbitration institution established in Saudi Arabia in 2014 with the aim of providing a platform for resolving commercial disputes through arbitration in accordance with international standards. In 2023, in line with its vision to become a “preferred ADR choice in the region by 2030”,[1] the […]

Filed Under: Saudi Arabia Arbitration

Greece’s 2023 Arbitration Law

08/07/2023 by Aceris Law LLC

New Greek Arbitration Law

On 4 February 2023, Greece passed a new law governing international commercial arbitrations with their seat in Greece, i.e., Law 5016/2023 (“2023 Arbitration Lawˮ) (in English here (unofficial translation), in Greek here, and its Explanatory Report in Greek). The 2023 Arbitration Law (1) replaces the previously applicable Law 2735/1999, which was based on the 1985 version […]

Filed Under: Greece Arbitration

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