issue #06, week 08. 21 February 2008
Prepared by TDM and Aloysius Gng (CEPMLP/Dundee)
TDM News Digest
provides a condensed overview of recent events of interest to the international arbitration community.
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TDM
TDM: Mobil CN v PDVSA CN related material:
- Fax sent to banks of the Dutch Antilles (Mobil CN v PDVSA CN, 6 Feb 2008)
- Letter from Ambassador Bernardo Alvarez Herrera (Venezuela) to U.S. Senator Richard Lugar, Chairman of The Senate Foreign Relations Committee, on Venezuela's position on Exxon Mobil assets' freeze.
- Claim No. 2008 Folio 61 - Freezing injunction (High Court of Justice, January 24, 2008)
- Order of supplemental attachment (January 8, 2008)
- Order of attachment (December 27, 2007)
- Plaintiff's Complaint
- Plaintiff's Memo of Law in Support of Complaint
- Plaintiff's Memo in Support of Complaint
- Plaintiff's Memo in Support of Motion to Confirm Orders of Attachment
- Plaintiffs Reply Memo in Support of Motion to Confirm Attachment
- Seider Declaration in Support of Plaintiff's Motion
- Davidson Declaration in Support of Plaintiff's Motion
- Davidson Declaration in Support of Complaint
- Davidson Declaration in Support of Complaint...
- Defendant's Memo in Opposition to Motion
- Kelly Affidavit in Opposition to Motion
- Petition to withdraw Venezuela from ICSID...
- Official of publication of Venezuelan Congress' petition to Pres. Hugo Chavez to withdraw from ICSID in light of the Exxon ...
See https://www.transnational-dispute-management.com/journal-advance-publication.asp
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Editors: Ali Burney, Rinat Gareev, Kiran Nasir Gore, Prof. Joel Slawotsky, May Tai - Special Issue on National Courts as a Forum for the Resolution of Disputes under Article 26 Energy Charter Treaty
Editors: John Gaffney, Richard Happ, Lucia Raimanova, Anna-Maria Tamminen, Catharine Titi - Special Issue on International Investment Arbitration - Environmental Protection and Climate Change Issues (Vol 4+)
Editors: Prof. Dr A F M Maniruzzaman, Kiran Nasir Gore, Prof. Dr Stephen Minas - Special Issue on The African Continental Free Trade Agreement (AfCFTA)
Editors: J. Chaisse, J. Górski, E. Laryea, M.M. Mbengue, and K. Olaoye
Recent issues:
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- TDM 1 (2018) - Regular issue
- TDM 5 (2017) - FDI Moot 2017
- TDM 4 (2017) - Comparative and International Perspectives on Mediation in Insolvency Matters
- TDM 3 (2017) - One Belt One Road (OBOR)
- TDM 2 (2017) - Non-Legal Adjudicators in National and International Disputes
- TDM 1 (2017) - Regular issue
- TDM 6 (2016) - FDI Moot 2016
- TDM 5 (2016) - Latin America (vol. 2)
- TDM 4 (2016) - Africa
- TDM 3 (2016) - Three Centuries of Arbitration for Peace
- TDM 2 (2016) - Latin America
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- TDM 7 (2015) - FDI Moot 2015
- TDM 6 (2015) - Regular issue
- TDM 5 (2015) - Yukos Special - OGEL 5 (2015) - Yukos Special
- TDM 4 (2015) - ArbitralWomen/TDM: Dealing with Diversity in International Arbitration
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- TDM 2 (2015) - Arbitration in the Middle East: Expectations and Challenges for the Future
- TDM 1 (2015) - The Pacific Rim and International Economic Law: Opportunities and Risks of the Pacific Century
- TDM 6 (2014) - Dispute Resolution from a Corporate Perspective
- TDM 5 (2014) - FDI Moot 2014
- TDM 4 (2014) - CILS - 8th Biennial Symposium on International Arbitration and Dispute Resolution
- TDM 3 (2014) - Regular issue
- TDM 2 (2014) - The New Frontiers of Cultural Law: Intangible Heritage Disputes
- TDM 1 (2014) - Reform of Investor-State Dispute Settlement: In Search of a Roadmap
- TDM 6 (2013) - FDI Moot 2013
- TDM 5 (2013) - Art and Heritage Disputes in International and Comparative Law
- TDM 4 (2013) - Ten Years of Transnational Dispute Management
- TDM 3 (2013) - Corruption and Arbitration
- TDM 2 (2013) - EU, Investment Treaties, and Investment Treaty Arbitration - Current Developments and Challenges
- TDM 1 (2013) - Aligning Human Rights and Investment Protection
- TDM 5 (2012) - Legal Issues in Tobacco Control
- A Liber Amicorum: Thomas Wδlde - Law Beyond Conventional Thought
- TDM 5 (2011) - Resolving International Business Disputes by ADR in Asia
- TDM 4 (2011) - Contingent Fees and Third Party Funding in Investment Arbitration Disputes
- TDM 3 (2011) - Intersections: Dissemblance or Convergence between International Trade and Investment Law
NEWS
Indonesia: Newmont To Seek Arbitration Over Indonesia Contract
February 15, http://money.cnn.com//news/newsfeeds/articles/djf500/200802150548DOWJONESDJONLINE000491_FORTUNE5.htm
U.S. mining giant Newmont Mining Corp. (NEM) will file for arbitration to settle a dispute with the Indonesian government over the divestment of a 10% stake in its Indonesian subsidiary, said a senior Newmont executive Friday. But Newmont will also continue with current divestment negotiations with the government, said Russell Ball, Newmont's Chief Financial Officer.
"Even if we file for arbitration, it does not mean that we won't continue to discuss and negotiate divestiture. It's merely a way to help preserve our rights while at the same time removing this very short window to complete a transaction that's worth hundreds of millions of dollars," he said.
The Indonesian government handed Newmont a Feb. 22 deadline to divest a 10% stake in its Indonesian subsidiary, PT Newmont Nusa Tenggara. The order was issued on Feb. 11. Indonesia initially said it would cancel Newmont's contract to operate in the country should the company fail to meet the deadline but has since retracted that statement to say that any cancelation of the contract would be done after it reviews the results of a fact-finding mission to ascertain why Newmont was unable to divest the stake.
Newmont was supposed to have divested the 10% stake by the end of last year. In total, it is required to sell 51% of its stake to local investors in stages.
Trinidad and Tobago: $120m spent on incomplete Oncology Centre
http://www.trinidadexpress.com/index.pl/article_news?id=161279121
Over $100 million has been spent on the construction of the National Oncology Centre, which, to date, remains incomplete, Health Minister Jerry Narace said yesterday. He added that the entire project had been riddled with problems from the contractors, who made requests for more money.
Narace said based on several issues of unsatisfactory performance, the Government sought to disengage the services of CCC-CCCI with effect from October 2007. CCC-CCI later submitted proposals for an extension of 30 months at an increased cost of $96 million.
"This proposal was rejected by the Government and CCC-CCI was offered an extension to complete the work remaining under the contract, with no additional cost being entertained by the Government."
Narace said CCC-CCI refused to accept Government's decision and has filed for arbitration proceedings in the London Court of International Arbitration (LCIA) to contest the decision. The resolution is still ongoing. The cost of the CCC-CCI contract is $180,000,000 and $83,654,197 has been expended to date.
London arbitration body in Dubai JV launch
February 18, http://www.legalweek.com/Articles/1097159/London+arbitration+body+in+Dubai+JV+launch.html
The London Court of International Arbitration (LCIA) and the Dubai International Financial Centre (DIFC) have launched a joint venture in the Middle East, it was announced yesterday (17 February).
The DIFC LCIA Arbitration Centre aims to boost the profile of the emirate as a venue for international arbitration and mediation services. The new centre will have access to the LCIA's database of arbitrators and will closely follow LCIA rules.
DIFC body set to be the final word in arbitration
February 21, http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=2608
The Dubai International Financial Centre (DIFC) has teamed up with the London Court of International Arbitration (LCIA) to set up the DIFC LCIA Arbitration Centre. The move was heralded as another step towards making the DIFC a comprehensive financial jurisdiction.
Deputy Ruler of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said: "This is a landmark step for Dubai, reaffirming its status as one of the world's leading business hubs and creating an efficient working environment for local international companies to prosper."
Alec Emmerson, a Dubai-based partner with international law firm Clyde & Co, sits on the DIFC court users committee, and is part of the legislative subcommittee that reviewed the new DIFC Arbitration law. Emmerson explained to Emirates Business the rationale for creating the new law and centre.
- Dubai already has the Dubai International Arbitration Centre (DIAC), and Abu Dhabi has one too. Why is the DIFC setting up another one?
- What role should courts play in the enforcement of arbitration awards?
- How will this change with the arbitration law and centre?
- What are the improvements to the original DIFC arbitration law?
- So what happens after the DIFC LCIA Arbitration Centre decides on an award?
- Do you think the new law will enhance enforcement in Dubai courts, and other courts in the region?
- Do you believe that the new DIFC LCIA Arbitration Centre will become an active venue for dispute resolution?
See also "Dubai on the tight track, says top arbitration specialist" here http://www.ameinfo.com/147222.html
Dubai: DIFC seeks feedback on Arbitration Law revisions
February 17, http://www.gulfnews.com/business/Banking_and_Finance/10190356.html
The Dubai International Financial Centre (DIFC) on Saturday issued consultation papers to seek comment on a new Arbitration Law, which seeks to replace the existing law. The proposed law, which contains a significant number of enhancements, is designed to accommodate and facilitate the setting up of an Arbitration Centre, DIFC said in a statement.
The changes, drafted in consultation with prominent arbitration practitioners, are aimed at making the Arbitration Law practical and comprehensible to all arbitration practitioners. The proposed arbitration framework, in accordance with international arbitration practices, will make the system simpler, more manageable, and therefore more attractive to the international community.
Cambodia To Form Business Dispute Court By 2009
February 18, http://www.bernama.com.my/bernama/v3/news.php?id=314504
The Cambodian Ministry of Commerce has finalised a 40-article draft law creating an independent commercial court and arbitration body, said China's Xinhua news agency quoting a local media report Monday. Mao Thora, Under-secretary of State for the Commerce Ministry, has said that it is hoped that the specialized court for business disputes will be formed by 2009, the Cambodia Daily newspaper said.
Many are hoping that a commercial court would improve Cambodia's capacity to fairly judge disputes in the business sector, and thus move the country further on the road toward a sound market economy, it said.
In a country where the justice system is weak, Mao Thora said the specialized commercial court is needed to ensure investor confidence. "Investors do not want to filed complaints about business in the civil court. They need a specific court," he was quoted as saying.
Is $13 Million Arbitration Award a Harbinger for Video Game Industry?
http://www.law.com/jsp/article.jsp?id=1202815256802
Video game publisher Ubisoft Entertainment has won a $13.2 million judgment against MGA Entertainment in arbitration, a notable amount for a dispute that never went to trial.
"It's accepted knowledge in the legal community that arbitration is usually smaller awards, more tempered, and not the big awards you get in front of a jury," said Stephen Smith, the Greenberg Glusker partner representing Ubisoft. "This award breaks that mold."
Along with being a significant judgment for arbitration, the decision also underscores the growing importance of the video game industry and its potential for more multimillion-dollar litigation. "It's a helpful reminder of what's to come," said Roxanne Christ, an L.A.-based partner with Latham & Watkins who focuses on intellectual property and technology. "Real money is at stake as the industry matures, and arbitration isn't the nirvana that everyone presents it as."
South Africa: Arbitration of SA iron-ore dispute yet to get under way
Februari 13, http://www.engineeringnews.co.za/article.php?a_id=126909
The arbitration process between steel producer ArcelorMittal South Africa and iron-ore miner Kumba Iron Ore (KIO), over the right of the steel...
The arbitration process between steel producer ArcelorMittal South Africa and iron-ore miner Kumba Iron Ore (KIO), over the right of the steel company to participate in the miner's South African expansion programmes, has not yet formally assembled, but should reach resolution later this year, outgoing Arcelor Mittal South Africa CEO Rick Reato said on Wednesday.
The dispute had arisen as a result of a difference of opinion over a 2001 unbundling agreement, concluded by the then Iscor and the then Kumba Resources, which enabled the steel producer to receive 6,25-million tons a year of iron-ore from KIO on a cost-plus basis.
Africa: China Outdoes Europeans in Congo
February 8, http://allafrica.com/stories/200802090006.html
The massive deal that China signed with the Democratic Republic of Congo last year is not the "second colonisation" that some Europeans allege it is. The agreement appears, in fact, a promising way to kick-start an economy. The agreement on developing infrastructure through "resource-backed finance" certainly gives China a lot of influence in a country where Europeans are used to dealing the cards. European countries now look with a certain envy at what China has achieved.
The Chinese have hedged their position quite aggressively. The first profits will be used to repay the mining investment, something that is typical of most private joint ventures with Gécamines. The agreement also says that "the Congolese government has to guarantee the safety of the investments, and the repayment of the infrastructural works." Any disputes would be settled by the arbitration tribunal of the International Chamber of Commerce in Paris, and not through Congolese courts, that have a reputation of being corrupt.
Article: The Story of a Dutch Letterbox which Could Cost Bolivia a Fortune
Corporate Europe Observatory, February 2008, http://www.corporateeurope.org/bolivia-eti.html
The Netherlands has long been established as a place to do business and as more and more companies are finding out, all you need 'to do' business there is little more than a letterbox. So what are the advantages of owning a letterbox in the Netherlands? The answer is simple: it helps corporations to avoid paying taxes elsewhere and enables them to take advantage of the corporate-friendly Bilateral Investment Treaties (BITs) the Netherlands has with other countries.
The Netherlands is home to about 20,000 of these letterbox companies and this number is rising, on average, by 5 every day. One such company taking advantage of this corporate-friendly environment is Euro Telecom Italia N.V. (ETI), a wholly owned subsidiary of Telecom Italia SpA. ETI has no substantial commercial presence in the Netherlands, nor staff[4], but is currently attempting to take Bolivia to the International Center for the Settlement of Investment Disputes (ICSID), an arbitration tribunal at the World Bank, using the BIT the Netherlands signed with Bolivia in 1995. Indeed, the BIT between the Netherlands and Boliva contains some harsh conditions not usually seen in BITs: the term 'investments' has a very wide interpretation and the BIT also applies to investments made even before it was signed into force - to name just two of its draconian conditions.
Jakarta to seize gas field in Exxon dispute
February 20, http://www.ft.com/cms/s/0/79091b66-df3e-11dc-91d4-0000779fd2ac.html?nclick_check=1
Indonesia on Tuesday said it would seize Asia's largest undeveloped gas block from ExxonMobil and ask Pertamina, the state-owned energy group, to prepare a feasibility study to take over the field.
The latest move in a three-year dispute between Jakarta and the US energy group was made after talks with Exxon about the Natuna D-Alpha field became deadlocked over tax issues, the extension of a contract and how to split the gas, said Purnomo Yusgiantoro, Indonesia's energy minister.
Ramírez proposes Exxon Mobil to go back to World Bank arbitration
February 19, http://english.eluniversal.com/2008/02/19/en_eco_art_ramirez-proposes-exx_19A1373063.shtml
Venezuela proposed US oil major Exxon Mobil to go back to the International Center for Settlement of Investment Disputes (ICSID) -a body of the World Bank- and drop the lawsuits it filed simultaneously with London and New York courts, Tuesday said Venezuelan Minister of Energy and Petroleum Rafael Ramírez.
"We have listened to some messages Exxon sent. We are proposing to go back to the arbitration under" ICSID, where the two parties designated their judges last December, with the installation of the court still pending, AFP reported.
"The party that exceeded the actions provided for under the arbitration was Exxon, as it sought a freezing injunction" of Venezuela's state oil firm Pdvsa's assets for up to USD 12 billion. The injunction was awarded by London and New York courts. According to Ramírez, such parallel actions "are outside the frame of arbitration," he stressed.
Pdvsa risks embargo if court order is disregarded
February 19, http://english.eluniversal.com/2008/02/19/en_eco_art_pdvsa-risks-embargo_19A1372439.shtml
Venezuela's oil conglomerate has the right to reply to the motion Exxon Mobil filed with the International Chamber of Commerce. A freezing injunction the England High Court issued against Pdvsa's assets -following a motion filed by US oil firm Exxon Mobil- affects the assets the state holding may own directly and indirectly
A notice accompanying an order issued by England High Court' commercial court last January 24 to freeze Venezuela's oil giant Pdvsa's assets -following a motion filed by US oil major company Exxon Mobil- warns that if Pdvsa fails to comply with the order, it may be accused of contempt of court and may be imposed a fine or its assets may be subject to a lien.
Chávez ponders tax on "unexpected oil profits"
February 18, http://english.eluniversal.com/2008/02/18/en_eco_art_chavez-ponders-tax-o_18A1370289.shtml
Amidst a conflict between the Venezuelan State and US oil major Exxon Mobil, President Hugo Chávez said it is pondering the possibility to levy a tax on "unexpected oil profits" in Venezuela. "I want the rationale to be submitted to me soon," Chávez asked his economic cabinet during his weekly radio and television show Aló Presidente (Hello, President).
The intended impost would be levied on companies recording surplus profits from oil production or marketing, for example attributable to soaring oil prices in world markets that are not related to higher production, transportation or similar costs, but to the market dynamics or natural causes, among others.
"If oil prices continue to climb, within the range of USD 80-100, we need to impose this tax, and we need to make it higher as the price soars."
Exxon: Venezuela Row About Government Honoring Contract
February 18, http://money.cnn.com/news/newsfeeds/articles/djf500/200802180952DOWJONESDJONLINE000245_FORTUNE5.htm
Exxon Mobil Corp.'s (XOM) legal dispute with Venezuela is over the country's failure to abide by its terms and obligations, ExxonMobil Chairman Robert Olsen said Monday. "This is an issue about contract sanctity that provides the basis for all parties to know their rights and responsibilities," Olsen told reporters on the sidelines of an energy conference here.
Olsen later told Dow Jones Newswires that Exxon was still hopeful that a solution could be found between the company and the Venezuelan government. "The arbitration panel is doing its work...We're hopeful an amicable solution can still be found between us and the government," he said.
Venezuela politics: Sabre-rattling
February 13,
http://www.viewswire.com/index.asp?layout=VWArticleVW3&article_id=1323040917&refm=vwHome&
page_title=Latest%20analysis&rf=0
FROM THE ECONOMIST INTELLIGENCE UNIT: A dispute between the government of President Hugo Chávez and global oil company ExxonMobil has heated up in the last week, with Mr Chávez threatening to halt crude supplies to the US in retaliation for Exxon's legal actions abroad. Whether or not the Venezuelan president follows suitwhich is unlikelythe conflict highlights the growing incidence of tensions between foreign oil producers and increasingly powerful national energy companies, both in Venezuela and elsewhere in Latin America.
Exxon Is Demanding Ten Times Its Investment, Says Venezuelan Oil Minister
February 17, http://www.netnewspublisher.com/exon-mobil-and-venezuela/
The maximum compensation ExxonMobil should receive for its nationalized 41.6% stake in the Cerro Negro Orinoco River belt project is $1.2 billion, the Venezuelan Minister of Energy and Petroleum and President of the Venezuelan state oil company PDVSA, Rafael Ramírez, announced yesterday. This is a tenth of Exxon's claim to $12 billion of PDVSA's assets, which were temporarily frozen after the transnational oil company won a series of court orders in Britain, the Netherlands, and the Dutch Antilles earlier this month.
In a speech before the Venezuelan National Assembly, the minister argued that Exxon's $12 billion compensation claim is exaggerated, revealing that $5 billion was the largest amount to which the company had ever aspired in previous negotiations. This prompted an Exxon Mobil lawyer to complain that it was inappropriate to have revealed such information.
USD 4.2 billion at stake in Exxon-Pdvsa dispute
February 15, http://english.eluniversal.com/2008/02/15/en_eco_art_usd-4.2-billion-at-s_15A1366895.shtml
Minister Ramírez advised the National Assembly of the legal actions Exxon Mobil has filed against Pdvsa and the Bolivarian Republic of Venezuela. According to Rafael Ramírez, CEO of state-run oil corporation Pdvsa, and Minister of Energy and Petroleum, "in a few hours" they are to disclose an agreement with Italian Eni, which decided to discontinue operations in Orinoco belt following Venezuela's nationalization drive in 2007
Venezuela requests help from U.S. senator - Ambassador asks Lugar to get freeze set aside in Exxon Mobil case
February 15, http://www.chron.com/disp/story.mpl/headline/biz/5546659.html
Venezuela's ambassador to the U.S. has asked Sen. Richard Lugar to press Exxon Mobil Corp. to drop legal measures that have frozen $12 billion in assets worldwide.
"Through tactics that can only be compared with the very discredited strategy of pre-emptive war, Exxon Mobil has clearly violated the terms of the arbitration process," Bernardo Alvarez, Venezuela's ambassador to the U.S., said in a letter to the Indiana Republican that was released by the embassy Friday. Lugar is the top Republican on the Senate Foreign Relations Committee.
Note the letter is available on Transnational Dispute Management as are a large number of other documents related to this case.
U.S. Backs ExxonMobil's Bid for Compensation from Venezuela - Company deserves a just and fair compensation for their assets says U.S.
February 14, http://www.industryweek.com/ReadArticle.aspx?ArticleID=15809
The U.S. State Department said Feb. 13 it "fully supports" ExxonMobil's bid to receive a fair compensation package for its assets in a dispute with Venezuela. Venezuela's state petroleum company PDVSA said Feb. 12 it suspended oil supplies to ExxonMobil in retaliation for the U.S .energy giant's securing court orders to freeze billions of dollars in global PDVSA assets.
Pdvsa faces two arbitration actions arising from claims made by Exxon
February 14, http://english.eluniversal.com/2008/02/14/en_eco_art_pdvsa-faces-two-arbi_14A1364679.shtml
A court of New York ratified the freezing of US$ 300 million. The fight between the Venezuelan state-owned company Petróleos de Venezuela (Pdvsa) and US oil company Exxon Mobil will be a long one. The US oil company seeks to ensure - by different means - the compensation it claims is owed to them, and Pdvsa affirms that they will put up a fight.
The Minister of Energy and Petroleum and president of Pdvsa, Rafael Ramírez, noted that Exxon Mobil presented two requests for arbitration for the same dispute. The first action is before the International Center for the Settlement of Investment Disputes (ICSID), and the second measure has been raised to the International Chamber of Commerce.
And, precisely, the latter request is the one, which, in part, allowed for actions to be presented in courts of New York, London, and Holland, which allowed for the freezing of assets and accounts amounting to US$ 12.3 billion.
Ramírez: OPEC is advising Venezuela in dispute with Exxon Mobil
February 13, http://english.eluniversal.com/2008/02/13/en_eco_art_ramirez:-opec-is-adv_13A1362923.shtml
The Organization of Petroleum Exporting Countries' legal department is providing advice to Venezuelan state-run oil firm Pdvsa to face a legal dispute with US oil major Exxon Mobil, said Rafael Ramírez, CEO of the Venezuelan holding.
"During the latest OPEC meeting, we advised our country was facing this situation with ExxonMobil. We brought this issue to the legal department of OPEC and they have been providing legal advice to face this situation," Ramírez said in an interview with a television channel.
Venezuela: Sovereignty and Business
February 13, http://www.escambray.cu/Eng/news/Wvenezuela0802131145.htm
Venezuela's willingness to negotiate oil projects with foreign companies is based on the country's sovereignty over natural resources, an inviolable principle in any contractual relation among companies.
Nicolás Maduro: Venezuela Willing to Confront the US
February 12, http://www.escambray.cu/Eng/news/Wmaduro080212858.htm
Caracas (PL) - Venezuela is strongly prepared to confront any onslaught against the country by the United States Empire, said chancellor Nicolas Maduro.
At the end of a coordination meeting with Argentine representative the Head of Foreign Affairs recalled that Venezuela is an independent and sovereign state that has been sighted in the crosshairs of "the powerful opponent and enemy clan governing the United States."
He added that the US government "has not given up nor will give up trying to destabilize our country and return us to the position of oil dependent colony."
Judge: Exxon Mobil Likely to Win Dispute
February 13, http://www.reflector.com/money/content/shared-gen/ap/Finance_General/Venezuela_US_Oil.html
A federal judge in Manhattan on Wednesday confirmed the freezing of $300 million in cash held by Venezuela's state-run oil company, finding it probable that Exxon Mobil Corp. will win its legal battle against the company.
Exxon Mobil is challenging Petroleos de Venezuela SA, or PDVSA, over compensation for the nationalization of one of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.
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Protection of Foreign Investments through Modern Treaty Arbitration - Diversity and Harmonisation
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Frankfurt Investment Arbitration Moot Court: Halle-Wittenberg wins 2008/2009 competition; Best Advocate comes from St Gallen University
The 2007/2008 Frankfurt Investment Arbitration Moot Court was held on 14-16 February 2008 at the premises of the Frankfurt International Arbitration Center (FIAC). In connection with the Moot, a roundtable of 50 arbitration specialists, state-representatives and investors discussed the question of "Access to Travaux Préparatoires in Investment Treaty Arbitration". The discussions were led by Emmanuel Gaillard, Antonio Parra and VV Veeder.
In the first semi-final, St Gallen (Switzerland) prevailed over Freiburg (Germany) before a tribunal composed of Veijo Heiskanen (President), Ahmed El-Kosheri and Kaj Hobér. In the second semi-final, Hans van Houtte (President), Michael Collins and Antonio Parra, saw Halle-Wittenberg (Germany) come up on top of Melbourne (Australia).
In a closely contested moot final, the teams of St Gallen and Halle-Wittenberg crossed swords in front of Emmanuel Gaillard (President), Karl-Heinz Böckstiegel and VV Veeder. Halle-Wittenberg carried the day. Judge Bruno Simma and Emmanuel Gaillard awarded the prize for Best Advocate to Lukas Rusch of St Gallen.
The Frankfurt Investment Arbitration Moot Court is the first student moot court to concentrate on the law of investment protection. Its unique format with an emphasis on oral advocacy helps students to develop key skills for their future careers. This year's case discussed the consequences of a potential state succession on the rights of investors in the affected area.
The Frankfurt Investment Arbitration Moot Court is organised by the Wilhelm Merton Centre for European Integration and International Economic Order of Johann Wolfgang Goethe University. This year's Moot was sponsored by Hughes Hubbard Reed, Mannheimer Swartling, Fraport AG, Oxford University Press and Dewey & LeBoeuf.
The 2008/2009 Frankfurt Investment Arbitration Moot Court will be held on 5 - 7 March 2009.
Guest Lecture: The Effect of Illegality on the Arbitration Agreement - Dr. Richard Kreindler - April 3
http://frg.sin-online.nl/channel/pub/msgview.html?msgid=53590
Dr. Richard Kreindler will be giving a talk on the interesting legal issues that arise where matters of arbitration are tainted by illegality. This is an increasingly important question as the scope of pubic regulation extends further and further into areas traditionally regarded as belonging to the private sphere. Dr. Kreindler's talk will examine the extent to which the private agreement of parties to take matters outside national court systems is affected by allegations of fraud, corruption or other criminal activity.
Short overview of upcoming events
- 26 Feb 2008
Hong Kong's Arbitration Law Reform Proposals. Steps in the Right Direction?
HKIAC
Hong Kong - 26 Feb 2008
New Arbitration Law of Austria
DIS , UNCITRAL
Germany - 26 Feb 2008
Review of the Jurisprudence on Arbitration in 2007
ASA Local Group Basel
Switzerland - 26 Feb 2008
The Proposed ABA Arbitrator "Best Practices" Disclosure Guidelines: Your Chance to Comment
International Law Section / International Dispute Resolution Committee , US Council for International Business, Arbitration Subcommittee for Washington DC , Washington, D.C. Chapter of the Chartered Institute of Arbitrators
United States of America - 27 Feb 2008
Enforcing the Final Decision in Domestic and International Law: How Realistic?
Freshfields Bruckhaus Deringer
United Kingdom - 27 Feb 2008
Kompetenz-Kompetenz in Arbitration
LSLC
United Kingdom - 01 Mar 2008
Joint LCIA Latin-American and Caribbean Users' Council and North American Users' Council Symposium
LCIA
Mexico - 05 Mar 2008
CEDR Exchange Forum
CEDR
Venue Unknown - 07 Mar 2008
Protection of Foreign Investments through Modern Treaty Arbitration
ASA Local Group Basel
Switzerland - 08 Mar 2008
13th Symposium of the Australasian Forum for International Arbitration (AFIA)
AFIA
Hong Kong
The above information is reproduced from the International Arbitration Planner by kind permission of Lovells (www.lovells.com and www.lovells.com/arbitration). More details on these and many other events can be found at www.arbitrationevents.com
MOVES / JOBS
Stephen York and Shai Wade join Reed Smith disputes practice
February 21, http://www.legalweek.com/Articles/1098184/Reed+Smith+disputes+practice+boosted+by+double+partner.html
Reed Smith Richards Butler has strengthened its London disputes practice with the hire of two international arbitration partners. Stephen York and Shai Wade joined the firm this week (18 February) from the London office of Kilpatrick Stockton.
Both York and Wade have experience of large-scale arbitrations and have represented clients in front of bodies including the International Chamber of Commerce and the United Nations Commission of International Trade Law.