issue #13, week 23. 04 June 2009
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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NEWS

Russia demands Turkmenistan cut price of gas

June 1, http://www.guardian.co.uk/business/feedarticle/8535323

Russia's Gazprom has demanded that Turkmenistan cut either the price or the volume of its natural gas, Interfax reported on Monday, sounding another harsh note in an escalating dispute between the energy giants. ... A Turkmen officials said last week that if talks failed, it could take Russia to international courts of arbitration.

Sotomayor Wrapup: A Guide to the Nominee's Arbitration Gravitas (May 29)

http://www.cpradr.org/tabid/45/articleType/ArticleView/articleId/498/Default.aspx

See als "Sotomayor's Position on Arbitration: A Survey of Past Cases and a View to the Future" published on TDM (May 28 2009)

AAA Elects 15 New Board Members

http://www.adr.org/sp.asp?id=36130

The American Arbitration Association elected 15 new members to its board of directors during its recent annual meeting. The board members, most of whom specialize in international arbitration, will serve for four years and can be re-elected for two subsequent terms. The new board members were elected at the May 7 annual meeting held in New York. They are: Makhdoom Ali Khan, George A. Bermann, Siegfried H. Elsing, Patricia D. Galloway, Joseph D. Garrison, James Giles, Judith Gill, Deborah G. Hankinson, Shaikha Haya Rashed Al Khalifa, Judith Kaye, Kap-You (Kevin) Kim, Michael Mukasey, Daniel M. Price and Vera Van Houtte

Turkey made to pay Iran $704 million for unused natural gas

May 31, http://www.tehrantimes.com/index_View.asp?code=195716

Turkey has paid Iran some $704 million for natural gas it failed to buy from the country in 2008, Today's Zaman has learned from sources close to the Ministry of Energy and Natural Resources.

Danone-Wahaha Feud: Rights and Wrongs in a Sino-French JV "Marriage"

May 29, http://en.china.cn/content/d564435,363ac8,d2098_18772.html

Following the successful completion of the China-EU high-level economic and trade dialogue, Chinese Premier Wen Jiabao recently went to Prague for the China-EU summit, marking that Sino-EU cooperation has returned to the right place after suffering a temporary setback last year.

Ecuador Ordered Private Banks To Repatriate Around $1.2 Billion

June 1, http://www.easybourse.com/bourse-actualite/marches/ecuador-ordered-private-banks-to-repatriate-around-S12-676847

Dow Jones - Ecuadorian private banks should repatriate around $1.2 billion in deposits and investment that they have abroad, President Rafael Correa said over the weekend. During his weekly radio address, Correa said that the Central Bank has established a liquidity requirement to force banks to keep at least 45% of their assets and investments in Ecuador to draw cash and boost domestic liquidity. The measure goes is into effect late Friday

Ecuador president says will leave arbitration body

May 30, http://www.cnbc.com/id/31016585

Ecuador - Ecuador's president said Saturday that his country plans to pull out of an international arbitration body that is considering complaints by several oil companies, arguing the process infringes on his country's sovereignty.

RP's withholding of Fraport's take on NAIA 3 stalls ties with Germany

May 30, http://www.tribune.net.ph/headlines/20090530hed4.html

The Philippine government's failure to compensate a German contractor for its expropriation of the $650-million Ninoy Aquino International Airport (NAIA) Terminal 3 remains a diplomatic setback in its bilateral ties with Germany.

In its 2009 bilateral overview with the Philippines, the German Federal Foreign Office noted that "economic relations between the two countries have been marred by the Philippine government's expropriation in December 2004 of Manila Airport's new international terminal."

MAS ordered to pay 7m to Advanced Cargo Logistic

June 2, http://www.btimes.com.my/Current_News/BTIMES/articles/20090602001405/Article/

MALAYSIAN Airline System Bhd (MAS) has been instructed to pay close to 7 million (RM34.51 million) to ACL Advanced Cargo Logistic GmbH for a breach of contract, it told Bursa Malaysia. The Arbitral Tribunal has ordered MAS to pay Advanced Cargo Logistic damages of 5.52 million (RM27.21 million), interest at a 5 per cent per annum, totalling 1.065 million (RM5.25 million) as at 31 May 2009 and cost of 316,591 (RM1.56 million) and US$102,000 (RM355,980).

Johnson & Johnson Files Arbitration Demand against Schering-Plough to Resolve Dispute over Agreements for REMICADE® and SIMPONI™

May 27, http://www.jnj.com/connect/news/all/20090527_180000

In an arbitration demand filed today with the American Arbitration Association, Johnson & Johnson (NYSE:JNJ) has requested a ruling that the agreement and plan of merger between Merck & Co., Inc., and Schering-Plough Corporation constitutes a change of control that would permit the termination of the agreements between Schering-Plough and Johnson & Johnson's subsidiary Centocor Ortho Biotech Inc., regarding the product REMICADE® (infliximab), a well-established biologic product for inflammatory/immunological diseases, and SIMPONI™ (golimumab), a next-generation treatment. The termination of the agreements would return full rights to Johnson & Johnson for the distribution of these products in markets outside the United States where Schering-Plough currently has the rights to distribute these products.

"As its public statements have made clear, Merck is acquiring Schering-Plough," the company said. "The acquisition constitutes a change of control that triggers the right of our Centocor Ortho Biotech subsidiary to terminate the agreements."

Paris, London May Be Used for Madoff Settlements, Says Frieden

May 29, http://www.bloomberg.com/apps/news?pid=20601087&sid=aojqi_Asno9E&refer=home

London or Paris could become the hub for the settlements of dozens of lawsuits related to banks' and investment funds' exposure to Bernard Madoff's Ponzi scheme, Luxembourg's Treasury and Budget Minister Luc Frieden said.

Ternium ponders legal actions over nationalizations in Venezuela

May 28, http://english.eluniversal.com/2009/05/28/en_eco_esp_ternium-ponders-lega_28A2352529.shtml

Last week, President Hugo Chávez ordered the nationalization of a group of companies, including three units of the Argentinean consortium Techint. Ternium steel group, which is controlled by Argentina's Techint, said on Thursday that it could file an action with an international arbitration body if it does not receive compensation at market value for the nationalization in Venezuela of three companies that are owned by the Argentinean consortium.

Int'l court verdict Petrobangla-Chevron likely in 4 months

May 27, http://www.thedailystar.net/newDesign/news-details.php?nid=90054

The judgment of the international arbitration court, which heard the submissions from the state-owned Petrobangla and the US-based oil-major Chevron last week in London over wheeling charge dispute is likely to be given within next four months.

According to sources the arbitration court may take four to six months to announce its verdict.

IATA Gamble to Flaunt EU Law Backfires

May 28, http://www.breakingtravelnews.com/article/20090528113331915

Business Travel Coalition (BTC) applauded a major arbitration decision in a case global distribution system provider Amadeus brought before the International Chamber of Commerce International Court of Arbitration regarding the controversial Passenger Intelligence Services (PaxIS) product developed and marketed by the International Air Transport Association (IATA). Amadeus won resounding victories on both arbitrated claims. Today's decision provides encouragement to travel industry participants that IATA will not be allowed to disregard EU law and should strengthen DG-TREN's resolve to forbid IATA to disregard the newly-revised European CRS Code of Conduct.

Gold Reserve reports on Venezuelan Government's failure to follow its own laws

May 26, http://phx.corporate-ir.net/phoenix.zhtml?c=101938&p=irol-newsArticle&ID=1292457&highlight=

Gold Reserve Inc. commented today on an Official Gazette issued by the Government of Venezuela dated May 22, 2009 in which the Venezuelan Ministry of Mines (MIBAM) denied the extension of the El Pauji concession. The Company does not own the El Pauji concession but has an easement that allows the Company to use the El Pauji surface rights for infrastructure purposes for the Brisas Project. The El Pauji concession is part of a number of land parcels surrounding the ore body located on the Brisas Alluvial and Veta concessions comprising the Brisas gold copper Project.

As part of the arrangement with the owner of the El Pauji concession, on January 17, 2008 the Company applied for an extension of the concession term pursuant to Article 25 of the Venezuelan mining law which provides MIBAM a six-month period, ending on July 20, 2008, to deny the extension request. MIBAM did not respond to our request for an extension. Our Venezuelan attorneys have advised us that, pursuant to Article 25 of the mining law, the extension is automatically granted.

Ignoring its own regulations and laws, MIBAM through internal reports dated April 29, 2009 and May 12, 2009, almost one year after the six month time period elapsed, asserts without evidence or prior notice that the Company is not in compliance with its obligations in regards to the concession. In September 2008 the Company received a certificate of compliance from MIBAM regarding the Brisas Project.

MIBAM states in the Official Gazette that the Company timely filed an application for extension and acknowledged that MIBAM made its evaluation on the status of the concession subsequent to the six month time period promulgated in Article 25 of the mining law. The Company, acting on behalf of the owner of the El Pauji concession, will actively defend its legal rights as defined under Venezuelan law.

The Company also applied for the extension of the Brisas del Cuyuni alluvial gold concession in late 2007, having met all legal requirements with no response from MIBAM during the subsequent six month time period. We have been advised by our Venezuelan attorneys that the application is approved pursuant to Article 25 of the mining law. It is important to note that the Brisas del Cuyuni alluvial gold concession contains no copper and comprises approximately 3% of the proven and probable gold reserves of the Brisas Project.

Recently, MIBAM requested all of the technical information comprising the Brisas gold copper Project. At this time we do not see any benefit in transferring that information to MIBAM.

Doug Belanger, President of Gold Reserve, stated, "On April 21, 2009 we notified the Venezuelan government that a state of disagreement existed between the government and the Company under Bilateral Investment Treaties between, (1) Canada and the Government of the Republic of Venezuela and (2) Barbados and the Government of the Republic of Venezuela. Further, despite the prolonged obstruction of our rights to the Brisas Project, it is Gold Reserve's intention to settle this dispute amicably but if that is not possible and the Company is compelled to file for international arbitration, we would make a claim for the fair market value of our investment at the time of the revocation of the permit which we believe was in excess of US$5 billion."

Belanger further said, "Reuters and other publications erroneously reported that this was the mining rights for the Brisas Project when in fact the action by the government relates to an infrastructure only property that contains no mineralization."

Gold Reserve reports on Venezuelan Government's failure to follow its own laws - Part 2

May 27, http://phx.corporate-ir.net/phoenix.zhtml?c=101938&p=irol-newsArticle&ID=1293044&highlight=

Gold Reserve Inc. commented today on an Official Gazette issued by the Government of Venezuela dated May 26, 2009 in which the Venezuelan Ministry of Mines (MIBAM) denied the extension of the Brisas del Cuyuni alluvial gold concession which contains approximately 3% of the proven and probable gold reserves of the Brisas Project.

During October 2007, the Company applied for the extension of the Brisas del Cuyuni alluvial gold concession pursuant to Article 25 of the Venezuelan mining law, which provided MIBAM a six-month period ending in April 2008 to deny the extension request. Similar to the El Pauji concession extension application discussed in our related news release yesterday, MIBAM did not respond to our request for an extension during the requisite time period. According to Article 25 of the mining law, the extension is automatically granted.

Again, as was the case with the El Pauji concession extension application, MIBAM has attempted to ignore its own regulations and laws. In September 2008, subsequent to the lapsing of the six month time period, the Company received from MIBAM a certificate of compliance (or good standing) of the Company's obligations set forth in the mining law and in the title for the Brisas del Cuyuni alluvial gold concession. MIBAM states in the Official Gazette that the Company timely filed an application for extension and acknowledged that MIBAM made its evaluation on the status of the concession subsequent to the six month time period promulgated in Article 25 of the mining law. Now, more than one year after the six month time period elapsed, MIBAM in internal reports asserts without evidence or prior notice that the Company is not in compliance with its obligations in regards to the concession.

This action has the effect of terminating the concession and could allow MIBAM to take physical control of the concession. The Company currently holds in good standing the hardrock or (veta) gold and copper concession that occupies the area below the Brisas alluvial gold concession. The hardrock concession contains proven and probable gold and copper reserves of approximately 10 million ounces and 1.4 billion pounds, respectively. The impact of this implied seizure on our rights to the hardrock (veta) concession is unclear at this time since the alluvial and hardrock concessions occupy the same 500 hectre area. In addition, we are extremely concerned about the future status of our employees located at the Brisas Project site.

Recently, MIBAM also requested all of the technical information comprising the Brisas gold copper Project. At this time we do not see any benefit to the Company in transferring that information to MIBAM.

There are various legal avenues in Venezuela or through arbitration proceedings available to the Company to protect our investment and confidential information. We are prepared to take all necessary actions to protect our property rights and investment.

Doug Belanger, President of Gold Reserve, stated, "As a result of these types of actions by the Venezuelan government, on April 21, 2009 we notified the Venezuelan government that a state of disagreement existed between the government and the Company under Bilateral Investment Treaties between, (1) Canada and Venezuela and (2) Barbados and Venezuela. Further, despite the prolonged obstruction of our rights to the Brisas Project, it is Gold Reserve's intention to settle this dispute amicably, but if not then the Company will accelerate its efforts and file for international arbitration. The Company expects to make a claim for in excess of US$ 5 billion representing the fair market value of our investment at the time of the 2008 revocation of the Permit to Affect."

Ormet Announces Availability of its First Quarter 2009 Information and Disclosure Statement and Reports Arbitration Hearing in Dispute with Glencore [pdf]

May 26, http://www.ormet.com/Investors/PDF/Ormet%20Announces%201st%20Q%202009%20Info%20and%20Reports%20Arbitration%20Hearing.pdf

Ormet Corporation, an independent U.S. producer of aluminum, announced that it's Information and Disclosure Statement for the Quarter Ended March 31, 2009 is available on its website under the Investor's link at http://www.ormet.com.

Ormet had previously reported that on April 16, 2009, the Company served Glencore with a Demand for Arbitration. On that same date, Ormet filed suit in the Federal District Court of Southeastern Ohio, against Glencore seeking a preliminary injunction to prevent the interruption of alumina deliveries as required under the tolling agreement with Glencore until such time that an arbitral tribunal can rule on Ormet's claims against Glencore. Since filing the federal lawsuit, the arbitral tribunal has taken Ormet's claims against Glencore under consideration on an expedited basis. Ormet requested that the federal court action be dismissed without prejudice, pending a ruling by the arbitral tribunal. "This is what we have wanted from the beginning - a fair hearing of these issues in a timeframe that recognizes the urgency of the situation," says Mike Tanchuk, president and CEO of Ormet Corporation.

Ormet Commences Legal Actions Against Glencore to Enforce Rights Under Tolling Agreement [pdf]

Apr 16, http://www.ormet.com/Investors/PDF/Ormet%20Commences%20Legal%20Action%20Against%20Glencore%20-April%2016%202009%20Release.pdf

Ormet Corporation ("Ormet") announced today that it has commenced legal action against Glencore Ltd. ("Glencore") to enforce Ormet's contract rights under its tolling agreement with Glencore. Ormet filed an action with the United States District Court for the Southern District of Ohio seeking a preliminary injunction against Glencore to prevent the interruption of alumina deliveries as required under the tolling agreement.

In its filing with the Court, Ormet argues that the failure to prevent Glencore from breaking its contractual obligations to deliver all of the alumina as provided for in the tolling agreement could force Ormet to shut down operations, threatening the jobs of approximately 1,000 active employees and retiree benefits for approximately 3,000 former employees. At the same time, Ormet has made a demand for arbitration against Glencore in accordance with the dispute resolution provisions of the tolling agreement.

Alumina is the principal component in the manufacture of aluminum. All of Ormet's aluminum production capacity is currently dedicated to the production of aluminum for Glencore under the tolling agreement. If Glencore does not continue shipping alumina and otherwise performing its obligations under the tolling agreement, Ormet's operations will be seriously affected. Prior to taking the actions announced today, Ormet had sought to resolve the dispute with Glencore amicably.

Commented Mike Tanchuk, Chief Executive Officer of Ormet, "Unfortunately, notwithstanding our long and positive relationship with Glencore and significant efforts on our part to resolve this issue without resorting to legal action, Glencore has decided not to honor its contractual obligations to Ormet. Glencore's position is without merit. Having enjoyed the substantial benefit of pricing terms under the tolling agreement for many months, Glencore no longer wishes to fulfill its contractual obligations now that aluminum prices have declined. Rather than honoring its obligations, Glencore is attempting to use its size, market position and significant financial resources relative to Ormet to force upon Ormet unjustified material changes to Glencore's obligations under the tolling agreement. Glencore's wrongful use of force majeure is nothing more than a way to try to escape a binding contract that it no longer finds desirable ."

France Telecom, Orascom at odds over Egyptian operator

May 25, http://www.thepeninsulaqatar.com/Display_news.asp?section=Business_News&subsection=market+news&month=May2009&file=Business_News200905257952.xml

A long-running and acrimonious battle between Egypt's Orascom and France Telecom appears deadlocked as the two sides argue over the validity of a legal ruling that ordered control of their jointly run Egyptian mobile operator to be transferred to the French grou

Cayman Islands Reformers ask for input on new arbitration laws

http://www.gov.ky/portal/page?_pageid=1142,1788944&_dad=portal&_schema=portal

The Law Reform Commission undertakes reviews of legislation, seeking to modernize or update the laws of the Cayman Islands, and Government's regulations and policies. Draft bills and related documents are then posted here, where the public has access to them and can comment on them.

Draft Discussion Paper on the Arbitration Laws of the Cayman Islands: This review of Cayman's arbitration laws is prompted by the possibility that the Cayman Islands could become a jurisdiction of choice for international arbitration. Submissions should be posted no later than 19 June 2009 to the Director, Law Reform Commission, c/o Government Administration Building or delivered by hand to the offices of the Commission, 3rd Floor Anderson Square, or emailed to . See also http://www.caymannewsservice.com/business/2009/05/24/reformers-ask-input-new-arbitration-laws

Tenaris Comments on Recent Developments in Venezuela [pdf]

May 22, http://www.tenaris.com/media/pr/prFiles/1868.pdf

Tenaris S.A. announced that Venezuela's President Hugo Chávez has announced the decision to nationalize its majority-owned subsidiaries Tavsa, Tubos de Acero de Venezuela S.A. and Matesi, Materiales Siderúrgicos S.A. and its minority interest in Complejo Siderúrgico de Guayana, C.A. No details have been provided regarding the expropriation process.

See also "Venezuela continues along nationalization path" http://www.marketwatch.com/story/tenaris-says-venezuela-to-nationalize-some-units

Venezuelan Government Seizes Williams' Operations

May 8, http://www.b2i.us/profiles/investor/ResLibraryView.asp?BzID=630&ResLibraryID=30017&Category=1579

Williams confirmed reports that the Venezuelan government has seized two assets - El Furrial and PIGAP II - that the company operates in Venezuela.

After a long period of non-payment by Petroleos de Venezuela S.A. (PdVSA), Williams recently issued notices of default under its services agreements. The seizure of assets and termination of the associated contracts trigger rights to receive payment for the seized assets. The contracts and international law call for international arbitration of any disputes concerning those payments.

In Venezuela, Williams has investments in and operates entities that provide services to PdVSA under long-term agreements. Services include medium-pressure compression, high-pressure gas injection, gas liquids extraction, and gas liquids fractionation.

Williams reported non-cash charges to net income attributable to The Williams Companies, Inc., of approximately $241 million in first-quarter 2009 related to its operations and investments in Venezuela.

ELEM CEO: No need to involve courts in Washington

May 21, http://macedoniaonline.eu/content/view/6798/2/

The Director of Macedonian Power Plants company (ELEM), Vlatko Cingoski, believes there is no need of engaging Washington-based International Court of Arbitration into the dispute with EVN Macedonia in connection to ELEM's demands for the former Electric Power Company (ESM) to service its debt in line with the annex agreement of 2005, because it's a row between two local companies that falls under the jurisdiction of Macedonia's courts.

CEZ submits arbitration proposal in Gacko project

May 22, http://www.cez.cz/en/investors/inside-information/1223.html

The CEZ Company filed a petition for starting an arbitration in relation with the Gacko project for the reason of long-term failure to fulfill the obligations of contract from the part of partners in Republic of Serbia and Bosnia-Herzegovina. The claimed amount or any further details will not be commented by CEZ during the procedure. See also http://uk.reuters.com/article/tnBasicIndustries-SP/idUKLM24103020090522

Spectrum Awarded $4.3M in Arbitration

May 26, http://www.ocbj.com/article.asp?aID=74828391.5475575.1786967.8115932.8324135.768&aID2=137450

Spectrum Pharmaceuticals Inc., an Irvine drug maker, said Tuesday a judge awarded it $4.3 million from an ongoing dispute with Seattle-based Cell Therapeutics Inc.

PODCASTS

IDN 72 - Negotiating a Timetable in the Shadow of an International Arbitral Tribunal, Part II

The parties are ready to go, having agreed to arbitration, and some basics, in last week's episode. This week brings the real negotiation: How long is this arbitration going to take? In the second of two parts, Roberto Calabresi, a Florence, Italy, litigator, joins International Dispute Negotiation host Mike McIlwrath, as they play the roles of a claimant and a respondent in a hypothetical commercial contractual dispute that has gone to arbitration.

Roberto--who first appeared on IDN in March 2008, on expertise proceedings in civil law countries--negotiates with Mike, who plays the respondent's representative, for the terms of the arbitration that the adversaries are about to undertake. Roberto represents an Italian technology equipment supplier that has started an arbitration against a Belgian company.

The negotiations take place in the shadow of the international arbitral tribunal: If the adversaries can't agree on the timelines for the hearings, for the discovery, for the mediation period, etc., then the arbitrators will set it for them. Is it going to be expedited?

The claimant in IDN 72 is demanding $3 million, of which $2 million is being withheld under a contract. The respondent has counterclaimed for $6 million, and is demanding a right of set-off. The dispute involves legal and complex factual issues. The parties have agreed in their contract to ad hoc arbitration under Uncitral rules, with Geneva as the place of arbitration.

The goal of Roberto and Mike is to agree as much as possible on the procedural timetable so that the parties, rather the tribunal, maintain control of the process.

EVENTS

Over 250 People Attend International Mediation Conference in Bahrain

May 26, http://www.adr.org/sp.asp?id=36106

Over 250 people from around the world recently attended a conference in Bahrain, which focused on mediation as a choice dispute resolution mechanism for resolving international and domestic disputes. The conference, held from March 30 to April 1, was sponsored by Bahrain's Ministry of Justice and Islamic Affairs, the American Arbitration Association (AAA), the International Centre for Dispute Resolution (ICDR) and the Dispute Resolution Committee of the International Bar Association (IBA) under the direction of Bahrain's Dispute Resolution Project head, James MacPherson

Notice of Public Hearing in the Softwood Lumber Arbitration: Canada v. United States, LCIA Arbitration No. 91312, June 11 and 12

http://www.ustr.gov/assets/Trade_Agreements/Monitoring_Enforcement/2006_Softwood_Lumber_Agreement/Arbitration_on_Export_Measures/asset_upload_file499_15656.pdf

The Office of the United States Trade Representative ("USTR") wishes to inform the public of an opportunity to attend a hearing in the arbitration under the 2006 Softwood Lumber Agreement between the United States and Canada, Canada v. United States, LCIA Arbitration No. 91312. That hearing is scheduled to begin on June 11, 2009, at 9:30 a.m., and will conclude on June 12, 2009. The hearing will be held at the Offices of the World Bank, Main Building, 1818 H Street, NW, Washington, DC, in room MC 13-121.

At the hearing, parties will make an opening statement, examine expert witnesses, respond to questions from the tribunal, make subsequent presentations, and make a closing statement. For more information about this arbitration, the U.S. response to Canada's request for arbitration may be found on the USTR website, www.ustr.gov. The U.S. statement of defense will be posted on the USTR web site after it is filed on June 1, 2009.

The hearing is open to the public. However, the tribunal may order members of the public to exit the hearing chamber if confidential information is to be presented. In addition, due to security requirements of the World Bank and space limitations, any person who wishes to attend the hearing must register beforehand. Access to the World Bank building and the hearing will be granted on a first come, first served basis, based on the date the request to attend the hearing is received.

USTR invites any person interested in attending the hearing to so inform USTR by e-mail to Each request should indicate the person's full name, contact information (full address, phone, and e-mail), and organization (if any), and whether the person has made any other request to attend the hearing (such as a request directly to the World Bank or to the other party to the arbitration, Canada). USTR urges that requests be made as soon as possible, as space is limited and requests will be granted on a first come, first served basis. In any event, all requests must be received no later than 5:00 p.m., June 4, 2009.

MOVES / JOBS

Laureen M. Ryan Joins Dispute Analysis & Forensic Services as a Managing Director

May 28, http://www.alvarezandmarsal.com/en/news/article.aspx?article=6184

Firm Continues Global Expansion of Forensic Investigations and Dispute Consulting Services for Companies with Complex Financial or Regulatory Issues. Laureen M. Ryan has joined Alvarez & Marsal (A&M) as a managing director in New York where she is responsible for expanding the Dispute Analysis & Forensic Services business. A&M is one of the leading independent global professional services firms specializing in performance improvement, turnaround management and business advisory services.

BOOKS

Force Majeure and Hardship Under General Contract Principles - Exemption for Non-performance in International Arbitration

by Christoph Brunner
List Price: 218 US$
Euro Price: 165 EUR
Imprint: Kluwer Law International
ISBN: 9789041127921
Hardcover: 624 pages

Note: Some excerpts of this book will be available on TDM shortly.

Lawyers involved in international commercial transactions know well that unforeseen events affecting the performance of a party often arise. Not surprisingly, exemptions for non-performance are dealt with in a significant number of arbitral awards. This very useful book thoroughly analyzes contemporary approaches, particularly as manifested in case law, to the scope and content of the principles of exemption for non-performance which are commonly referred to as 'force majeure' and 'hardship.' The author shows that the 'general principles of law' approach addresses this concern most effectively.

Generally accepted and understood by the business world at large, this approach encompasses principles of international commercial contracts derived from a variety of legal systems. Its most important 'restatements' are found in the 1980 United Nations Convention on Contracts for the International Sale of Goods (CISG) and the UNIDROIT Principles of International Commercial Contracts (UPICC).

Establishing specific standards and "case groups" for the exemptions under review, the analysis treats such recurring elements as the following:

The book is a major contribution to the development of the use of general principles of law in international commercial arbitration. It may be used as a comprehensive commentary on the force majeure and hardship provisions of the UPICC, as well as on Art. 79 of the CISG. In addition, as an insightful investigation into the fundamental question of the limits of the principle of sanctity of contracts, this book is sure to capture the attention of business lawyers and interested academics everywhere.

Decisions of the Arbitration Panel for In Rem Restitution

Edited by: Josef Aicher, Erich Kussbach, August Reinisch
ISBN13: 9781849460002
ISBN: 1849460000
To be Published: June 2009
Publisher: Hart Publishing
Country of Publication: UK
Binding: Hardback

Price: £72.00 - Not Yet Published. Note: Will be available with a discount for TDM/OGEMID members once published.

The series "Decisions of the Arbitration Panel for In Rem Restitution" documents Austria's most recent compensatory measures dealing with the consequences of the National Socialist era. For property seized during the National Socialist era and now publicly owned, the possibility of In Rem restitution, was provided for in the Washington Settlement Agreement of 17 January 2001. The Arbitration Panel for In Rem Restitution, established with the General Settlement Fund in Vienna, decides on applications for restitution which mostly concern real property. With only a few exceptions, all properties had been the subject of restitution proceedings after 1945.

Since 2003, the Arbitration Panel has decided on a great number of applications, and has recommended the restitution of property to the legal successors of former owners in several cases. In the course of these decisions based on the General Settlement Fund Law, the Arbitration Panel has developed a complex case law.

ICSID

Waguih Elie George Siag and Clorinda Vecci v. Arab Republic of Egypt (ICSID Case No. ARB/05/15)

Outcome of Proceeding: Award rendered on June 1, 2009; attached to the award is a dissenting opinion by one of the arbitrators.

New: KT Asia Investment Group B.V. v. Republic of Kazakhstan (ICSID Case No. ARB/09/8)

Subject Matter Banking enterprise Date Registered May 20, 2009

New: Adem Dogan v. Turkmenistan (ICSID Case No. ARB/09/9)

Subject Matter Poultry farm Date Registered May 22, 2009

Libananco Holdings Co. Limited v. Republic of Turkey (ICSID Case No. ARB/06/8)

Status of Proceeding: Pending (the Tribunal issues a procedural order concerning the procedural calendar on May 26, 2009)

Enron Creditors Recovery Corporation (formerly Enron Corporation) and Ponderosa Assets, L.P. v. Argentine Republic (ICSID Case No. ARB/01/3)

Status of Proceeding: Pending (the ad hoc Committee issues a decision on the Claimant's further request to lift the provisional stay of enforcement of the award on May 20, 2009)

Ioan Micula, Viorel Micula and others v. Romania (ICSID Case No. ARB/05/20)

Status of Proceeding: Pending (following the resignation of an arbitrator, the Acting Secretary-General notifies the parties of a vacancy on the Tribunal and the proceeding is suspended on May 26, 2009)

Perenco Ecuador Limited v. Republic of Ecuador and Empresa Estatal Petróleos del Ecuador (Petroecuador) (ICSID Case No. ARB/08/6)

Decision on Provisional Measures (May 08, 2009) available at ICSID website

CIT Group Inc. v. Argentine Republic (ICSID Case No. ARB/04/9)

Outcome of Proceeding: Tribunal issues an order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44 on May 12, 2009

Alpha Projektholding GmbH v. Ukraine (ICSID Case No. ARB/07/16)

Status of Proceeding: Pending (the parties file post-hearing briefs on May 18, 2009)

Giovanni Alemanni and others v. Argentine Republic (ICSID Case No. ARB/07/8)

Status of Proceeding: Pending (the Respondent files a memorial on jurisdiction and admissibility on May 21, 2009)

Sociedad Anónima Eduardo Vieira v. Republic of Chile (ICSID Case No. ARB/04/7)

Status of Proceeding: Pending (Sociedad Anónima Eduardo Vieira files a reply on annulment on March 16, 2009)

ABCI Investments N.V. v. Republic of Tunisia (ICSID Case No. ARB/04/12)

Status of Proceeding: Pending (the Respondent files a reply on jurisdiction on May 19, 2009)

Ahmonseto, Inc. and others v. Arab Republic of Egypt (ICSID Case No. ARB/02/15)

Status of Proceeding: Pending (the Arab Republic of Egypt files a rejoinder on annulment on March 2, 2009)

Marion Unglaube v. Republic of Costa Rica (ICSID Case No. ARB/08/1)

Status of Proceeding: Pending (the Claimant files a reply on bifurcation on April 27, 2009)

Alapli Elektrik B.V. v. Republic of Turkey (ICSID Case No. ARB/08/13)

Status of Proceeding: Pending (the Tribunal holds a first session in Paris on May 18, 2009

Electrabel S.A. v. Republic of Hungary (ICSID Case No. ARB/07/19)

Status of Proceeding: Pending (the Respondent files a counter-memorial on the merits on May 15, 2009)

RSM Production Corporation v. Central African Republic (ICSID Case No. ARB/07/2)

Status of Proceeding: Pending (the Respondent files a counter-memorial on jurisdiction and the merits on May 20, 2009)

Nations Energy, Inc. and others v. Republic of Panama (ICSID Case No. ARB/06/19)

Status of Proceeding: Pending (the Claimants file a reply on April 30, 2009)

Occidental Petroleum Corporation and Occidental Exploration and Production Company v. Republic of Ecuador (ICSID Case No. ARB/06/11)

Status of Proceeding: Pending (the Respondent files a counter-memorial on quantum and a memorial on counter-claim damages on March 9, 2009)