By Dr Cosmin Vasile, Violeta Saranciuc (Zamfirescu Racoti & Partners, Bucharest)
On 24 March 2017, Law No. 18/2017 approving the termination of the bilateral investment treaties (BITs) between Romania and the European Union Member States came into force in Romania. The law targets 22 BITs entered with Austria, Bulgaria, Czech Republic, Cyprus, Croatia, Denmark, Greece, Finland, France, Germany, Lithuania, Latvia, Luxembourg, Poland, UK, Portugal, Netherlands, Slovakia, Slovenia, Spain, Sweden and Hungary.
The sole article of the law approves the termination of these BITs by consent or by denunciation.
Continue reading Eyes on Romania As It Enacts a Law Approving the Termination of All Intra-EU Bilateral Investment Treaties
By Piyush Prasad, LL.M. Candidate, The University of Chicago Law School (Class of 2017)
A. The Problems in Cross-Border Arbitration Involving Indian Companies
Any cross-border investment involves financial and enforcement risks. Because of its speed, efficiency, and flexibility, arbitration is usually chosen as the dispute resolution method for cross-border transactions. However, the choice of arbitration does not eliminate reliance on courts. For example, a foreign company may require interim relief from local courts in an exigency. Moreover, for enforcement of awards or decisions, reliance on courts is necessary. These inequalities sometimes nullify the advantages of arbitration, especially in cross-border disputes when timely relief is critical.
This post briefly discusses the solutions to practical problems of cross-border arbitrations in the Indian context.
Continue reading Solutions to Problems of Interim Reliefs and Emergency Awards in India
Harout Jack Samra is an attorney in DLA Piper’s international arbitration practice. He has experience in proceedings administered under the International Chamber of Commerce (ICC), International Centre for Dispute Resolution (ICDR), United Nations Commission on International Trade Law (UNCITRAL) and International Centre for Settlement of Investment Disputes (ICSID) arbitration rules. Harout is a magna cum laude graduate of the University of Miami School of Law. He also received B.A. (cum laude) and M.B.A. degrees from the University of Miami.
Continue reading Tips from the top: Young ICCA interviews Harout Samra
By Chizaram Uzodinma, Law Student at Nigerian Law School, Lagos Campus
There has been a battle of supremacy between national courts and the autonomy of parties in arbitral proceedings to decide the jurisdiction and finality of the arbitral process. The Nigerian Arbitration and Conciliation Act provides the extent of how courts can intervene in the arbitral process. However, some of the provisions permitting court intervention have sometimes served as basis for unwarranted interference.
Continue reading Court Interference with International Commercial Arbitration Under The Nigerian Arbitration Act
By Preeti Bhagnani and Jade Harry, Associates at White & Case, New York
On October 14, 2016, the American Bar Association (”ABA”) Investment Treaty Working Group published a draft Discussion Paper on the EU’s proposal for a permanent Investment Court System (“ICS” or “Investment Court”) to replace ad hoc investor-state dispute settlement (“ISDS”). The ICS forms part of the EU’s proposal for the Transpacific Trade and Investment Partnership (“TTIP”) currently under negotiation between the EU and the USA and is part of the EU-Canada Comprehensive Economic and Trade Agreement (“CETA”) and the EU-Vietnam Free Trade Agreement (“EU-Vietnam FTA”).
Continue reading The EU’s Proposal for an Investment Court System: The ABA Investment Treaty Working Group Weighs In