By Justine Touzet, Member of the Paris and New York Bar, Associate at Savoie Arbitration in Paris and Marine Vienot de Vaublanc, Member of the Paris Bar, LLM Candidate in International Dispute Resolution, Fordham School of Law
Recent events such as the NAFTA re-negotiations have drawn leading newspapers around the world to turn their attention to ISDS tribunals. Often in an effort to make their stories sensational, they speak of “obscure tribunals,” “secret trade court,” and “justice behind closed doors,” most of the time giving it an unfair and biased image.
In this context, the UN Commission on International Trade Law entrusted the Working Group III (the Working Group) with a broad mandate to work on the possible reform of the ISDS framework. The Working Group is one of the six working groups to perform the substantive preparatory work on topics within the Commission’s program of work. Within its mandate, the Working Group is working on identifying and considering expressed concerns about ISDS (I) and desirable reforms and solutions to be recommended to the Commission (II).
Continue reading The Investor-State Dispute Settlement System: The Road To Overcoming Criticism
By Damián Vallejo (International Arbitration Consultant at Cooley LLP, New York)
Mexico will hold its general elections (including presidential election) on July 1st. Whilst a center-right president is currently governing the country, Enrique Peña Nieto from the Partido Revolucionario Institucional (Institutional Revolutionary Party), the favorite candidate to win the upcoming elections is Andrés Manuel López Obrador (“AMLO”), according to the latest polls.
Continue reading Will Mexico Lead The Next Wave of Investment Arbitration Claims?
by Vivek Kapoor (Stephenson Harwood)
The Court of Justice of the European Union (“CJEU”) is not an ordinary court but a political court, which means that it is strongly influenced in making its decisions by the political beliefs of the European Commission. The 6 March 2018 judgment of the CJEU’s Grand Chamber in Slovak Republic v. Achmea BV is a reminder; with a preordained weltanschauung and political outcome, the CJEU then proceeded to forge the jurisprudential basis.
Continue reading Slovak Republic v. Achmea: When politics came out to play
By Michel Nassar (Saas Avocats)
On 9 September 2017, Lebanon passed Law No. 48 “Regulating Public Private Partnerships” (“PPP Law”) ahead of the CEDRE Conference (acronym in French for “Economic Conference for Development, through Reforms and with the Businesses”) held in Paris on 6 April 2018. This conference brought USD 11 billion of funding for Lebanon’s infrastructure which is in a critical state.
This most awaited law is based on a draft prepared in 2010 by the Lebanese High Council for Privatization and Public Private Partnership (“PPP”). The law was finally enacted just in time for the CEDRE Conference. As PPP is the preferred vehicle for foreign investments, the new law paves the way for a more prevalent choice for arbitration as dispute resolution mechanism.
Continue reading Arbitration under the Lebanese Public Private Partnership Law
by Carmine A. Pascuzzo S. (ADM & Asociados, Caracas)
This post focuses on two decisions issued by the Venezuelan Supreme Court of Justice in the Corporación LSR case. The decisions constitute an unexpected change in the approach of the Supreme Court towards arbitration, deviating from its latest and vastly commented case law regarding commercial arbitration matters.
The dispute in Corporación LSR arose out of an option contract that contained a pathological arbitration clause, in that the clause referred all future disputes to arbitration under the rules of a non-existing arbitration institution: the Conciliation and Arbitration Centre of the Chamber of Commerce, Industry and Agriculture of the Bolivarian Republic of Venezuela.
Continue reading A one-two punch to the Kompetenz-Kompetenz principle in Venezuela