Arbitration institutions have attempted to adapt their arbitration rules in order to be more appropriate for small claim arbitrations by reducing the costs and the time of arbitration proceedings. The ICC Arbitration Rules applicable as of 1 March 2017 confirm this trend by introducing special rules for claims below USD 2 million. According to the ICC Court, […]
News
State Counterclaim in Investment Arbitration
An ICSID arbitral tribunal awarded approximately USD 40 million in damages to Ecuador for the foreign investor’s liability for the costs of restoring the environment in an area concerned by the investment. This award of a counterclaim in investment arbitration was made by an arbitral tribunal composed of Gabrielle Kaufmann-Kohler, Brigitte Stern and Stephen Drymer in […]
Brazil and the Cooperation and Facilitation Investment Agreement (CFIA): A Step Backwards for Arbitration?
In 2015, as a result of the increase of Brazilian investment overseas, the Brazilian government, in consultation with private entities, elaborated so-called Cooperation and Facilitation Investment Agreements (“CFIA”s – or “ACFI” in its Portuguese acronym). The CFIA’s aim was to facilitate and stimulate reciprocal investments between States, especially in strategic sectors, much like the Bilateral […]
Aceris Successfully Resolves ICDR Arbitration for Canadian Respondent
Aceris Law has assisted another Canadian client in obtaining the successful resolution of an ICDR arbitration brought against it. The ICDR arbitration, initiated by a Fortune 500 American electronic commerce company against the Canadian respondent, concerned alleged illegal acts under U.S. federal law, alleged violations of Washington State law and claims of breach of contract. Following […]
An Overview of The Saudi Arbitration Law
The Saudi Center for Commercial Arbitration Arbitration Rules In the year of 1437 H (2016), the Saudi Center for Commercial Arbitration (“SCCA”) drafted arbitration rules based on the UNCITRAL Arbitration Rules. The Saudi Center for Commercial Arbitration Rules are available here. Arbitration through the Saudi Center for Commercial Arbitration is designed to ensure that the procedure […]
Consent in Investment Arbitration
Investment arbitration, like any arbitration, is a creature of contract. A party submitting a case to the International Centre for Settlement of Investment Disputes (the “Centre”) therefore must ensure that their adversaries have consented to arbitrate. This article answers the ‘what, how, and when’ of consent in investment arbitration. What is “Consent”? Article 25(1) of […]
Obtaining Third-Party Funding for International Arbitration – How It Works
Obtaining third-party funding for international arbitration is not an easy process. Aceris Law LLC has already written about the issue here. When searching for third-party funding, prospective litigants often lack information on the requirements and knowledge of what is required to successfully fund an arbitration. By composing the following list, we hope to demystify the […]
Disclosure of Third-Party Funding in International Arbitration
The disclosure of third-party funding is becoming increasingly common in international arbitration proceedings. This is reasonable, as the fact that there is an outside influence on the case affects the decision-making process and impacts issues such as transparency, impartiality, independence and conflicts of interest. For instance, if a third-party funder has a conflict of interest […]
The Cost of Investment Arbitration: UNCITRAL, ICSID Proceedings and Third-Party Funding
Party Costs in Investment Arbitration In a recent article by Global Arbitration Review, the second edition of a recent empirical study reveals that the cost of investment arbitration is unfortunately on the rise yet again. Since 2013, average party costs were a massive USD 7.41 million for claimants and USD 5.19 million for respondents. Before then, […]
