Transnational Dispute Management - TDM News Digest - The Network for International Arbitration, Mediation and ADR, International Investment Law and Transnational Dispute Management

• RSS
• Linkedin
• Twitter
• Facebook

issue #09, week 22. 03 June 2010
Prepared by TDM and Aloysius Gng (CEPMLP/Dundee)

NEWS

Dubai International Arbitration Centre launches New E-Services

June 1, http://www.eyeofdubai.com/v1/news/newsdetail-44678.htm

Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry, launched new e-services to its associate members that will add a new dimension to the online services provided by the Centre to the business community in Dubai and the region. The launch of the new e-services took place during the recent roundtable discussion organized by the Centre for its associate members from over 20 countries. The new e-services launched include membership directory, e-library and a chat networking service that connects all DIAC associate members.

TGS and Nordic Maritime Pte Ltd Sign Settlement Agreement

June 1, http://www.tgsnopec.com/Subpage.aspx?id=5816

TGS and Nordic Maritime Pte Ltd (Nordic Maritime) have signed a settlement agreement today related to the material breach dispute between the two companies. TGS has reached a settlement in which it will pay 2.5 million USD to Nordic Maritime. As disclosed in TGS 2009 Annual Report, TGS made provision for costs associated with this dispute in the 2009 financials. The net effect of the 2.5 MUSD settlement on TGS 2010 financials is considered to be immaterial. The settlement document will be used to close the arbitration proceedings and release the bank guarantee raised by TGS. The agreement provides for all claims either party have against the other party, to be lifted.

SEC: Self-Regulatory Organization (SRO) Rulemaking and National Market System (NMS) Plans

May 19, http://www.sec.gov/news/whatsnew/wn052110.shtml

FINRA: Notice of Filing of Proposed Rule Change Relating to Amending the Codes of Arbitration Procedure to Increase the Number of Arbitrators on Lists Generated by the Neutral List Selection System (Release No. 34-62134; File No. SR-FINRA-2010-022; May 19, 2010)

Download: http://www.sec.gov/rules/sro/finra/2010/34-62134.pdf

Satellite Affair details no longer confidential

May 28, http://www.b92.net/eng/news/politics-article.php?yyyy=2010&mm=05&dd=28&nav_id=67430

BELGRADE -- The Serbian government has lifted the confidential status from the files related to the case of satellite rental from Israeli company ImageSat.

... See also http://www.bailii.org/ew/cases/EWHC/Comm/2009/2853.html

Mugabe: No Zimbabwean mine expropriation

May 28, http://af.reuters.com/article/topNews/idAFJOE64R0Q120100528

Reuters - Zimbabwe's government will not expropriate mines and was refining a controversial local ownership law to enable miners to expand their operations, President Robert Mugabe said on Friday.

Mediated solution not an option for Taiwan in Lafayette case

May 31, http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201005310026&Type=aIPL

CNA - Taiwan did not renege on a tacit agreement to solve the Lafayette frigate case dispute with France as has been reported and will not opt for a mediated solution in the future, the Ministry of National Defense (MND) said Monday. The ministry said in a statement that it has not made contact with French defense contractor Thales over a possible out-of-court settlement and that it would resolve the case based on the law.

Kazakhstan says Karachaganak case in arbitration

May 27, http://www.reuters.com/article/idUSLDE64Q14B20100527?type=marketsNews

Reuters - Kazakhstan's $1.3 billion cost overstatement claim against the BG and ENI-led KPO consortium is being reviewed by an international arbitration court, the Kazakh prosecutor general's office said on Thursday.

Kazakh Government Won't Force Entry to Karachaganak Oil Project

May 19, http://www.businessweek.com/news/2010-05-19/kazakh-government-won-t-force-entry-to-karachaganak-oil-project.html

Bloomberg - The Kazakh government won't force its way into the BG Group Plc and Eni SpA-led Karachaganak venture as it seeks an equal stake in the biggest oil and gas project in the country that lacks state participation.

Australia to be global dispute centre

May 27, http://news.brisbanetimes.com.au/breaking-news-business/australia-to-be-global-dispute-centre-20100527-weps.html

Australia's leading commercial arbitration body has signed an agreement at a conference in Brazil that will give Australia a say in resolving global commercial disputes. The Australian Centre for International Commercial Arbitration (ACICA), with its headquarters in Sydney, will now compete, along with Hong Kong and Singapore, to attract disputation cases in Asia Pacific.

Leading Australian Arbitration Body Signs Historic International Agreement

May 25, http://www.voxy.co.nz/business/leading-australian-arbitration-body-signs-historic-international-agreement/5/49818

Australia's leading commercial arbitration body, the Australian Centre for International Commercial Arbitration (ACICA) and the world's oldest intergovernmental institution for international dispute resolution, the Permanent Court of Arbitration (PCA) have signed an agreement to promote the utilisation and education of arbitration in the Asia- Pacific. The historic agreement was signed following an offer by the PCA to the Australian government to enter into a Host Country Agreement that would provide the PCA with privileges and immunities similar to those enjoyed by the PCA at its headquarters in The Hague.

Todd and Shell continue JV stoush

May 26, http://www.nbr.co.nz/article/todd-and-shell-continue-jv-stoush-123641

Todd Petroleum Mining and Shell Petroleum Mining are seeking additional leave to appeal an arbitral award for joint venture exploitation of the Kapuni field in Taranaki. The arbitration related to a tariff dispute for use of the Whareroa pipeline, which is managed by the Shell Todd Oil Services (STOS) joint venture.

Yemen: New draft law for investment guarantees more privileges for investors

May 24, http://www.yobserver.com/business-and-economy/10018773.html

The head of the General Investment Authority (GIA), Salah al-Attar, revealed that the new draft law for investment includes more incentives and privileges for investors, including customs exemptions, a reduction in income taxes imposed on companies from 35% to 15%- 20% and the modification of the GAI's Board of Directors to consist of 60% public sector employees and 40% from the private sector. In an exclusive statement to the Yemen Observer, al-Attar clarified that changes to the existing legislations in the investment law come in response to changes in the investment environment in order to attract more investments and capital.

Maxim Power Corp. Receives Arbitration Decision for Coal Supply Agreement and Issues 2010 Guidance

May 25, http://cnrp.marketwire.com/client/maxim_power_corp/n/release.jsp?actionFor=1265576&releaseSeq=0&year=2010

Maxim Power Corp. announced today that it has received an arbitration decision relating to the dispute between its wholly-owned subsidiary, Milner Power Limited Partnership ("MPLP"), and Coal Valley Resources Inc. ("CVRI") regarding the price MPLP pays for coal purchased from CVRI.

Arbitration Decision

To date, MPLP's supply of thermal coal to its HR Milner Facility has primarily been sourced from a CVRI mine located in Hinton, Alberta. In July of 2008, MPLP exercised its option to extend the term of the coal supply agreement for an additional five years expiring on December 31, 2013. CVRI was of the view that they had the right to initiate a price review for the extended term and requested the price for coal be increased above the price provided for under escalation provisions of the agreement. An independent arbitrator was appointed to consider the matter and rendered two concurrent decisions. The arbitrator firstly decided that a price review was warranted and secondly established the price that MPLP is to pay for coal purchased from CVRI effective February 1, 2009. MAXIM is providing guidance to apprise investors of the impact of this decision. MAXIM has a number of options available to mitigate the effects of this higher price in 2010 and beyond including alternative sources of coal supply and development of its Mine No. 14.

EC Fund Refusal Leaves Bulgaria Facing EUR 7,8 M Law Suit

May 25, http://www.novinite.com/view_news.php?id=116528

The European Commission has refused PHARE funding for the repair of the Razlog-Sadovo road in South East Bulgaria. Due to this refusal the Bulgarian government now faces a law suit filed by the Greek company 'Prodeftiki', who had been given the contract for the repair of the Razlog-Bansko-Gotse Delchev - Sadovo road, the Bulgarian daily Pari reported Tuesday. ... The claim has been filed with the International Court of Arbitration for a loss of profit on the project. It is not yet clear when the hearing in to the case will be heard.

Moscow court orders sale of PIK stake for bank debt

May 25, http://uk.reuters.com/article/idUKLDE64O0RP20100525

Reuters - The Moscow Arbitration Court on Tuesday seized 12.5 percent of shares in Russian developer PIK on behalf of Nomos Bank, to be sold at auction with a starting price of 1.27 billion roubles.

Timor-Leste: Council of Ministers on Extraordinary Session

May 19, http://easttimorlegal.blogspot.com/2010/05/council-of-ministers-on-extraordinary.html

...

On the agenda there were issues such as the Private Investment Law, the plan for the establishment of the Timor-Leste National Development Bank, the nomination of the members for the Accompaniment Committee in the Promotion Process of Timor-Leste's National Police (PNTL) and Timor-Leste's Commissioner for the Civilization Alliance, the Special Career Regime for Health Clinic Professionals and Medical Assistance Overseas, all which, after the discussions, resulted in approval by the Council of Ministers.

The Private Investment Law, presented by the Ministry of Economy and Development, demonstrates the government's commitment in regards to the creation of wealth and jobs outside the State's activities and civil servant structure.

Within the perspective of attracting private investment, it has become necessary to alter the existing legislation for national and foreign investment for new laws that may be applied to investors without distinction of nationality or residence.

The approved legislation establishes the legal framework for an investment environment of simple processing and a single reception to investors and determines the group of rights and basic guarantees for investors in all sectors, regardless of nationality. It clarifies on the benefits and fiscal and customs incentives, as well as the leasing conditions of State property and subsidies for training of national workers.

It is the Government's intention to promote private investment by individual persons or collectives, independently of being nationals or foreign, as well as local investors, resident or not.

...

UK: Arbitration sought on North Sea pipe costs

May 23, http://www.ft.com/cms/s/42f0814a-6691-11df-aeb1-00144feab49a

Endeavour International has become the first company to ask the UK government to settle a dispute over access to the country's ageing system of offshore pipes and platforms ...

Congo Minister Calls for Talks With First Quantum

May 21, http://www.bloomberg.com/apps/news?pid=20601116&sid=aI37OztI33bk

Congo's government should restart negotiations with First Quantum Minerals Ltd. over a canceled mining deal that the company has challenged in an international court, the mines minister of Katanga province said. The impasse has stalled "real investment" in Katanga, where most of Congo's cobalt and copper deposits are located, Juvenal Kitungwa Lugoma said in an interview today in Lubumbashi, the provincial capital. First Quantum's $553 million Kinganyambo Musonoi Tailings Sarl project was shuttered in August after a 2-1/2-year review of the Central African nation's mining contracts by the government. The Vancouver-based company on Feb. 1 filed suit at the International Chamber of Commerce's International Court of Arbitration in Paris to dispute the decision.

Congo court overturns First Quantum mine rights

May 23, http://www.guardian.co.uk/business/feedarticle/9091582

Canada's First Quantum Minerals has suffered a new legal setback to its Congo business with a court ruling to annul its rights to two copper mines in the south of the country.

First Quantum Says Congo Ruling Is 'Retaliation'

May 24, http://www.bloomberg.com/apps/news?pid=20601082&sid=a4uDNsJNQ5ik

First Quantum Minerals Ltd., Canada's second-largest copper producer, said the latest challenge to its licenses in the Democratic Republic of Congo is "retaliation" for an arbitration case and a decision not to join other investors on mining projects in the country.

Mine dispute, poll fears raise Congo risk premiums

May 19, http://asia.news.yahoo.com/rtrs/20100519/tbs-democratic-congo-risk-7318940.html

Reuters - Democratic Republic of Congo's political risk insurance premiums have risen 40 percent since a dispute over mining licences and are set to rise further as 2011 elections approach, a leading African insurance agency said. The central African nation is recovering from years of war and corruption but has waded into problems since the global downturn hit its economy and it embarked in 2008 on a review of contracts for its lucrative mining sector.

Albania to pay 11 Mil. € to GE over breach...

May 24, http://macedoniaonline.eu/content/view/14803/2/

Albania's Government is to pay EUR 11 million to the US company General Electric (GE) over the country's annulment of a 2003 contract with GE Transport. A petition was filed by General Electric, GE, to enforce the ruling of an arbitration court in Rome, which had found the government of Albania in breach of the €74.71 million contract signed in September 2003.

Albanian transport ministry sues former minister over scrapped rail deal with General Electric

May 17, http://www.metronews.ca/toronto/world/article/527948--albanian-transport-ministry-sues-former-minister-over-scrapped-rail-deal-with-general-electric

Albania's transport ministry says it is suing a former minister for abuse of power in a since-cancelled rail deal with U.S. giant General Electric.

A ministry statement says Spartak Poci failed to get parliamentary approval for the €75 million ($92 million) contract to rebuild a 38-kilometre (28-mile) stretch of rail from Durres to the capital, Tirana. The deal included a new link between Tirana and its airport.

The governing Democrats cancelled the agreement in 2005, saying the country couldn't afford it. General Electric went to the International Court of Arbitration in Rome, and won €12 million ($14.8 million) in compensation.

Arbitration law in UAE set for year-end

May 25, http://gulfnews.com/business/economy/arbitration-law-in-uae-set-for-year-end-1.631770

Abu Dhabi: The UAE expects to pass a draft federal arbitration law this year which will help boost investor confidence and strengthen the country's investment environment, Minister of Economy Sultan Bin Saeed Al Mansouri said here at a conference yesterday.

Transatlantic Seeks Arbitration on AIG-Linked Losses

May 24, http://www.businessweek.com/news/2010-05-24/transatlantic-seeks-arbitration-on-aig-linked-losses-update2-.html

Bloomberg - Transatlantic Holdings Inc., the reinsurer divested by American International Group Inc., filed a demand for arbitration against its former parent tied to losses of more than $350 million from securities lending.

Petrobangla decides to fight Niko

May 25, http://www.southasianmedia.net/index_story.cfm?id=653055&category=Frontend&Country=BANGLADESH

DHAKA: The government has decided to fight the Canadian Niko Resources in the International Centre for Settlement of Investment Disputes (ICSID) tribunal on payment against gas sales and compensation disputes, top government officials said Monday. "We certainly are going to contest Niko in the ICSID on non-payment and compensation issues," state-owned Petrobangla chairman Dr Hossain Monsur told the FE.

Moscow Says Zorlu Violated Contract on $1 Billion Power Plants

May 25, http://www.businessweek.com/news/2010-05-25/moscow-says-zorlu-violated-contract-on-1-billion-power-plants.html

Bloomberg - The Moscow city government said Zorlu Enerji Elektrik Uretim AS failed to deliver two power plants valued at more than $1 billion on time and demanded that the Turkish energy producer start up the plants immediately.

Montenegro's ex-SCG officials willing to testify

May 25, http://www.b92.net/eng/news/region-article.php?yyyy=2010&mm=05&dd=25&nav_id=67362

PODGORICA - Former Chairman of the Council of Ministers of Serbia and Montenegro (SCG) Svetozar Marovic has reacted to the so-called Satellite Affair. He said that those who agreed to arbitration hold the answers to the satellite case and that he is willing to come to Belgrade and testify in an atmosphere where "the innocent will not be declared guilty and the guilty will not be protected".

SCC: Numbers Demonstrate Stability

May 12, http://www.chamber.se/?id=23696&newsid=33881

Figures from the first four months of 2010 demonstrate a stable SCC caseload, with numbers from January - April falling only slightly behind those of the record year of 2009, a year characterized by a 20 % growth. Statistics also show an equally strong international footprint in the SCC caseload, where international cases represent close to 50% of the new cases. Among pending cases before the SCC, however, international cases are in the majority. At present, there are 172 pending SCC cases, 62 % of which are international.

The caseload so far for 2010 includes one new investment arbitration case under a bilateral investment treaty and the first decision under the new Emergency Arbitrator provisions.

SCC Investment Arbitration

May 20, http://www.chamber.se/?id=23696&newsid=33975

Details of SCC investment arbitration recently presented by SCC Legal Counsel Natalia Petrik show that the average duration for an SCC investment case is less than two years. The analysis of all SCC investment cases since 2001 includes statistics, common features and average indicators. For a copy of Ms Petrik's presentation: http://www.chamber.se/filearchive/3/33974/SCC%20Investment%20Arbitration_Petrik.pdf.

Until now, 24 investment arbitration cases have been filed under the SCC Rules, including 5 cases under the Energy Charter Treaty (ECT).

The first ECT arbitration was initiated under the ICSID Rules in 2001, and the very first ECT award was rendered under the SCC Rules in an arbitration also initiated in 2001. SCC, ICSID and the Energy Charter Secretariat have therefore decided to organize a conference on the topic Ten Years of Energy Charter Treaty Arbitration next year. The conference will be held in Stockholm on 19-20 May 2011.

Pakistan: The Attribution (International Investment Dispute) Bill

May 20, http://www.thenews.com.pk/daily_detail.asp?id=240229

The National Assembly's Standing Committee on Law, Justice and Parliamentary Affairs considered on Wednesday various bills, including "The Attribution (International Investment Dispute) Bill; Recognition of Enforcement and Foreign Arbitral Awards Bill; Central Law Officer Bill; and the Family Courts Amendment Bill.

The committee considered The Attribution (International Investment Dispute) Bill 2009 and The Recognition of Enforcement (Arbitration Agreement) and Foreign Arbitral Awards Bill 2009.

It viewed that through passage of these bills, interests of investors would be safeguarded through international agreements and conventions, whereas business transactions would be increased and there would be promotion of foreign investment in the country. The committee also considered "The Central Law Officer and The Family Courts (Amendments) Bills, 2009 and passed all these bills with the consent of majority of the members.

Golden Tag Enters Arbitration Hearings on Mexican Property: May 26th to 28th, 2010

May 20, http://www.marketwatch.com/story/golden-tag-enters-arbitration-hearings-on-mexican-property-may-26th-to-28th-2010-2010-05-20-831560

Golden Tag Resources Ltd. announces that arbitration hearings between Golden Tag and ECU Silver Mining Inc. ("ECU") are scheduled to be held in Montreal on May 26th to 28th, 2010 in respect of the San Diego property. The property is located in the Velardena Mining District, Municipality of Cuencame, Durango State, Mexico (the "Property"). Golden Tag is fully vested in a 50% interest in the Property pursuant to the joint venture agreement (the "JVA") signed on November 2, 2005. ECU is operator of the San Diego joint venture.

Golden Tag in a letter dated March 20, 2009 notified ECU of numerous fundamental breaches committed by it under the JVA. Golden Tag subsequently received assurances that the breaches would be rectified within the requested 30 day period. Despite several follow-ups, the breaches were not remedied. On June 23, 2009 (see Press Release: June 23, 2009) Golden Tag issued a formal notice demanding arbitration.

After issuing the arbitration notice, Golden Tag learned that ECU had commenced unauthorized removal of surface stockpiles on the Property at a daily rate of approximately 250 tonnes per day, also a clear contravention of the JVA. Golden Tag issued a formal notice (see press release: August 13th, 2009) demanding the immediate cessation of the removal. ECU immediately complied with the demand to cease but had removed and processed approximately 3,000 tonnes of material.

Because of the nature and number of fundamental breaches to the terms of the JVA, Golden Tag is seeking to operate the Property, dilution of ECU's interest, receive a substantial amount of damages and other relief.

Jordan Prevails in International Treaty Challenge to Jordanian Court Decisions

May 20, http://www.earthtimes.org/articles/show/jordan-prevails-in-international-treaty-challenge-to-jordanian-court-decisions,1310616.shtml

Covington & Burling LLP - Today, the World Bank's International Centre for the Settlement of Investment Disputes ("ICSID") published a unanimous award by a three-member arbitral tribunal in favor of the Jordanian Government, in the case of ATA Construction, Industrial & Trading Co. v. The Hashemite Kingdom of Jordan, ICSID Case No. ARB/08/2.

The case involves claims by a Turkish contractor, ATA, that built a dike in the Dead Sea for Arab Potash Company. Shortly after construction, while impoundment was under way, the dike (Dike No. 19) partly collapsed. In an ensuing commercial arbitration between ATA and Arab Potash Company, a split tribunal found that, because Arab Potash Company had "supervised" construction of the dike, the contractor was not liable under governing Jordanian law for the collapse and was entitled to receive full payment for having built the dike.

The Jordanian Court of Appeal and Court of Cassation then annulled the arbitral award, under two independent provisions of the Jordan Arbitration Law. The provisions in question call for arbitral awards to be set aside where they violate the mandatory "public order" of Jordan or "exclude the application of the law agreed upon by the parties to govern the subject matter of the dispute." The Jordanian courts found, in a pair of judgments unanimously endorsed by eight judges, that Jordan's Civil Code imposes strict liability for a period of 10 years on contractors who erect structures that collapse, and that such decennial liability is a fundamental public policy of Jordan that the arbitral tribunal ignored ("estaba'ad" in Arabic).

The Turkish contractor, ATA, then sued the Jordanian government itself, under the bilateral investment treaty currently in force between Turkey and Jordan, alleging that the Jordanian courts' proceedings and judgments in annulling the arbitral award constituted a "denial of justice," "expropriation," and other violations of international law.

In its unanimous award yesterday, the ICSID tribunal rejected ATA's challenge. The tribunal found that "all claims of the Claimant in connection with the annulment of the Final Award are inadmissible for lack of jurisdiction" because the parties' legal dispute in regard to the annulment had been fully briefed and submitted for decision to a Jordanian court years before the Turkey-Jordan treaty entered into force.

…

The award is available on the ICSID website.

Crystallex 'actively pursuing' resolution on Venezuela permit

May 19, http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2010/Crystallex-Reports-Noteholders-Appeal-Dismissed1122073/default.aspx

Las Cristinas update: Crystallex is actively pursuing a resolution to the Las Cristinas permitting dispute and believes that a responsible large scale mining operation at Las Cristinas will benefit Venezuela, the environment, the local communities, and all the stakeholders. To that end, the Company is presently in discussions regarding potential transactions and partnerships that, if successful, should facilitate the successful advancement of the Las Cristinas Project. In the absence of a successful transaction or a settlement with the Government of Venezuela, the Company is prepared to file for international arbitration.

The Bahamas as an Emerging Centre for International Commercial Arbitration - Issues and Challenges

May 17, http://www.jonesbahamas.com/news/135/ARTICLE/21695/2010-05-17.html

Recently the Bahamas enacted an Arbitration Act which has now institutionalised this Alternative Dispute Resolution Mechanism into the adjudicatory framework of this leading financial services and off shore centre in the western hemisphere. This domestication or ratification or some will say, incorporation of the New York Convention on Recognition and Enforcement of Arbitation Award 1958 [commonly referred to as [The 1958 Convention] in the Bahamas is a milestone development and an innovation in our country which is not only long overdue but has tremendous potential to position and consolidate the Bahamas as a premiere international commercial and investment arbitration centre in the western hemisphere. This will also have a great positive economic impact in the overall welfare of this nation if this innovation is effectively promoted by the Bahamas governement, the judiciary and the legal profession. Arbitration, according to Halsbury's Laws of England, is the process by which a dispute or difference between two or more parties as to their mutual legal rights and liabilities is referred to and determined judicially and with binding effect by the application of law by one or more persons [the arbitral tribunal] instead of by a court of law. it is one of the three main dispute resolution mechanisms. The others being mediation and negotiation.

Yugraneft Corporation v. Rexx Management Corporation (Alta.) (Civil) (32738) judgement on May 20th 2010

http://scc.lexum.umontreal.ca/en/news_release/2010/10-05-17.2/10-05-17.2.html

Ottawa, 2010-05-17. the Supreme Court of Canada announced today that judgment will be delivered at 9:45 A.M. Edt on Thursday, May 20, 2010.

Summary: Yugraneft Corporation v. Rexx Management Corporation

Limitation of actions - Arbitration - Whether the Alberta Court of Appeal erred in finding that the Appellant's application for recognition and enforcement of the award is barred by operation of the Limitations Act, R.S.A. 2000, c. L-12.

On September 6, 2002, the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation granted an arbitration award in favour of the Appellant against the Respondent, in the amount of $952,614.43 U.S. The Appellant claimed that the money was owed for equipment paid for but not supplied by the Respondent. On January 27, 2006, more than three years later, the Appellant applied pursuant to the International Commercial Arbitration Act, R.S.A. 2000, c. I-5, for an order recognizing and enforcing the award. The Respondent sought dismissal of the application or a stay, pending the resolution of a racketeer-influenced and corrupt organizations case.

See also "A Second Look at First Assumptions: Yugraneft Corporation v. Rexx Management Corporation Case Commentary" by Hugh Meighen TDM 1 (2010) https://www.transnational-dispute-management.com/article.asp?key=1569&n_key=30

Naftohaz Ukrainy Hoping Stockholm Arbitration Tribunal Will Make Objective Decision In Its Dispute With RosUkrEnergo Over 11 Billion Cubic Meters Of Gas

May 21, http://un.ua/eng/article/266894.html

The Naftohaz Ukrainy national joint-stock company is hoping that the arbitration institute of the Stockholm Chamber of Commerce (Sweden) will make an objective decision in the company's dispute with the RosUkrEnergo company (Switzerland), which is demanding about USD 5.4 billion for the use of 11 billion cubic meters of natural gas held in Ukraine's underground gas storage facilities.

RosUkrEnergo Demanding Stockholm Arbitration That Naftohaz Ukrainy Compensate USD 5.4 Billion Of Losses For Withdrawal Of 11 Billion Cubic Meters Of Gas

May 20, http://un.ua/eng/article/266668.html

RosUkrEnergo (Switzerland) is demanding the Arbitration Institute of the Stockholm Chamber of Commerce that Naftohaz Ukrainy national joint-stock company compensate some USD 5.4 billion of losses for withdrawal of 11 billion cubic meters of gas stored in the Ukrainian repositories, RosUkrEnergo press secretary Andrii Knutov has informed Ukrainian News.

In his words the arbitration court opened hearings within the framework of consideration the dispute between RosUkrEnergo and the national oil and gas company.

Businessman Firtash Expects Arbitration Dispute Between RosUkrEnergo And Naftohaz Ukrainy On 11 Billion Cubic Meters Of Gas To Be Settled By July

May 18, http://un.ua/eng/article/266067.html

Businessman Dmytro Firtash, a co-owner of the RosUkrEnergo Company (Switzerland), expects the Arbitration Institute of the Stockholm Chamber of Commerce to award a decision in the dispute between the Naftohaz Ukrainy national oil and gas company and RosUkrEnergo on 11 billion cubic meters of natural gas by July 2010. He gave his opinion to the press.

KFW Banking Group obtains a legal order authorizing it to seize six properties belonging to Zimbabwe

http://www1.voanews.com/zimbabwe/news/economy/Impala-Platinum-Holdings-Invests-US500-Million-in-Zimplats-Set-to-94176154.html

... KFW Banking Group of Germany, a state-controlled development bank, has obtained a legal order authorizing it to seize six properties belonging to Zimbabwe in recovery of a US$59 million debt. A spokesman for the German institution told VOA the bank's claims against Harare were upheld by the arbitration tribunal of the International Chamber of Commerce. He declined to elaborate further, however. The Sunday Times of South Africa reported that the loan was made to the Zimbabwe Iron and Steel Company, or Zisco. The newspaper quoted a South African law firm as saying the Zimbabwean state properties in Pretoria, Johannesburg and in the Western Cape would be auctioned off on July 23. The newspaper said Zisco made only four of 16 agreed installment payments to the German bank.

Int'l court bins Chevron's claim of $240m from Petrobangla

May 18, http://www.thedailystar.net/newDesign/latest_news.php?nid=23791

An international arbitration court on Tuesday turned down US oil giant Chevron's age-old disputed claim of around US $240 million from Petrobangla. Chevron filed the case with the International Centre for Settlement of Investment Disputes (ICSID) in June 2006 saying Petrobangla has been illogically deducting around $240 million over the years from Chevron's earnings from gas sales. After avoiding the arbitration for three years, Petrobangla last year went to the ICSID-a wing of the World Bank-and submitted papers saying that the deduction was fair and legal. Dr Kamal Hossain represented Bangladesh in the arbitration.

Chevron accepts int'l court ruling

May 20, http://www.thedailystar.net/newDesign/news-details.php?nid=139251

US-based international oil company Chevron, which lost to Bangladesh in a legal battle in an international arbitration court, said in a statement yesterday that it has accepted the ruling and would abide by the verdict. "Chevron will abide by the ICSID's ruling and welcomes the resolution of this issue," the IOC said in its official reaction.

Estonia sets up international court for arbitration of business disputes

May 17, http://balticbusinessnews.com/article/2010/05/17/Estonia_sets_up_international_court_for_arbitration_of_business_disputes

An international court for business disputes known as ICCMCA has started operations in Estonia and enables to resolve disputes in a more timely manner and with lower fees than the Estonian court system. According to ICCMCA that stands for International Commercial Court for Mediation, Conciliation and Arbitration, the court's objective is to arbitrate civil disputes.

Khumama and Mvela shareholders warned of delay in arbitration

May 18, http://www.businessday.co.za/articles/Content.aspx?id=109267

Former shareholder of Khumama Platinum have been advised that an arbitration hearing that began earlier this month are to continue through June. In an online statement, Mvela Resources' says the arbitration hearing commenced as advised, but has not been completed. The Mvela unbundling process has been slowed due to the wait until a ruling had been given in the arbitration

EVENTS

Latin American Conference on Arbitration (CLA 2010) June 10-11

June 10-11, Asunción, Paraguay. http://www.cedep.org.py/arbitraje/

In this year's Conference themes regarding commercial and investment arbitration will be addressed, for the purpose of updating concepts, regulations and arbitral practices and bring them to discussion to the hands of arbitrators, academics and lawyers with experience on international arbitration.

This, indeed, considering that on Saturday, June 12th, a meeting will be organized at noon on global and regional arbitration circles, in association with the "Law Firm Management Committee of the International Bar Association", presented under the name: "Contemporary Management Issues in International Arbitration and Dispute Resolutions Practices", whose agenda and direction will be in charge of Norman Clark, Head of the Law Firm Management Committee of the IBA. Said meeting promises to have a great international impact, in line with the arbitration event of Asunción (whose success is well known in major global and regional arbitration circles).

On June 12th, additionally, the Moot Asunción will be held, in association with Moot Madrid 2010 and the Willem C. Vis Moot of Vienna, which will be coordinated by: Eric E. Bergsten, Roque Caivano, Fernando Cantuarias Salaverry, and Pilar Perales Viscasillas. The activity is aimed for national and regional college students.

5th Annual Conference on International Arbitration and Mediation - Fordham Law School. New York City, June 14-15 2010

The conference will bring together leading international arbitrators, mediators, practitioners, and scholars to discuss contemporary issues in international arbitration and mediation.
June 14 - 15 2010, McNally Amphitheatre, Fordham Law School
Conference director: Arthur Rovine. Speakers include: Maurice Mendelson QC, Charles N. Brower, Brigitte Stern, Christoph Schreuer, Tony Willis, Maria-Teresa Trofaier, Simeon Baum, Esq., Suzanne Ulicny, George Bermann, Catherine Rogers, Tom Stipanowich, Ben Sheppard, Giorgio Sacerdoti, Greg Tereposky, Andrew Shoyer, Richard Cunningham, John Barkett, Tim Martin, David Burt, Tai-Heng Cheng, Loukas Mistelis, Toni Hennike, Stephen E. Smith, Roland Schroeder, Mike McIllwrath, Siegfried H. Elsing.
See the website for the full program and registration details here law.fordham.edu/arbitration.

Summary Proceedings in International Arbitration

June 18 2010, Rome, Italy. http://seminaires.uianet.org/en/summary-proceedings-in-international-arbitration/home152/

The separation of the state courts' and of the arbitrators' respective spheres of competence, which is uncontroversial with respect to the merits of a dispute, is much more problematic in relation to summary proceedings, i.e. proceedings aimed at obtaining a rapid decision on one or more aspects of dispute. Whether, and towhat extent, arbitral tribunals and state courts have jurisdiction to hear applications for summary judgments in the presence of an arbitration agreement on merits of the dispute, is one of the major problems of international arbitration, and the solutions adopted differ significantly from one jurisdiction to another. The focus of the seminar will be on the various procedural tools available to parties who seek summary relief in international arbitration and on the distinction between the respective jurisdictions of state courts and arbitral tribunals with respect to each of these procedural tools. Seminar jointly organised by the UIA Arbitration Commission and ArbIt, the Italian Forum for International Arbitration and ADR.

ICSID 101: An Introduction to ICSID Process, June 21, 2010

http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=OpenPage&PageType=AnnouncementsFrame&FromPage=Announcements&pageName=Announcement50

The ICSID Secretariat will be offering a one-day primer on practice and procedure in ICSID Convention arbitration. Our expert counsel will take the participants through the workings of the ICSID system and assist them in understanding the process involved at each stage of an arbitration. The course is aimed at anyone interested, but with little or no exposure to investor-state arbitration. Register before Monday, May 31, 2010

International Arbitration Summer Program: 1 - 18 June 2010

Courses in English: Nuts and Bolts of International Commercial Arbitration; Investor-State Arbitration; Advanced Seminar: Practical Skills and Cross-Examination in International Arbitration; International Arbitration and Choice-of-Law Issues; and Contributions of the ICC Court of Arbitration to the Development of Commercial Law. Courses in Spanish: Arbitraje Comercial Internacional; Arbitraje Inversionista-Estado; Seminario Avanzado: Aspectos Prácticos del Proceso Arbitral.

ICC/ITF Paris Conference: New Directions in Investment Treaty Law 2 July 2010

2 July 2010, Paris, France, http://www.biicl.org/events/view/-/id/528/

The first ITF outside London will held in Paris on 2 July Participants include: John Beechey, Professor Brigitte Stern, Raëd M Fathallah, Toby Landau QC, Carole Malinvaud, Loretta Malintoppi, Anna Joubin-Bret, Dr Nikos Lavranos, Nick Minogue, Philippe Pinsolle, Pierre Poret.

FIAA Workshop: Questioning of Expert Witnesses in International Arbitration, 1 - 3 July 2010 [pdf]

1 - 3 July 2010. Windsor, England, just outside of London. http://fiaa.com/files/FIAA%20July%202010%20Flyer.pdf

This learning-by-doing workshop is designed to provide international arbitration practitioners with advanced skills and techniques for examining and cross-examining expert witnesses based on a mock arbitration case.

Tax Dispute Resolution & Litigation Summit - 8th July 2010

Sofitel St James, London. http://www.informaglobalevents.com/KW5127TDMW

The Tax Dispute Resolution & Litigation Summit programme, drafted in consultation with some the most distinguished experts in the field, features an authoritative silk speaker faculty and will be congregating some of the finest direct and indirect tax QCs in the country, leading law firms and industry experts. HMRC Solicitor's Office will of course be represented at its most senior level in the person of Anthony Inglese, General Counsel & Solicitor, while the keynote speech will be delivered by Sir Stephen Oliver QC.

Third Investment Arbitration Forum 2 - 3 September 2010, Mexico

Mexico, D.F. http://www.juridicas.unam.mx/

The Investment Arbitration Forum (IAF) is looking for speakers and suggestions for topics for the Third Investment Arbitration Forum which will take place at the Instituto de Investigaciones Jurídicas (“IIJ”) of the National Autonomous University of Mexico (“UNAM”) in Mexico City on September 2 and 3, 2010. See "Call for speakers, topics and articles" (pdf) for more information.

Legal aspects of the choice of law in international contracts under the new “Rome I-Regulation” 9 - 10 September 2010

9 - 10 September 2010. Bourgogne, France. http://www.u-bourgogne.fr/-ROME-1-et-le-choix-de-loi-.html

This two-day conference will explore the legal aspects of the choice of law in international contracts under the new "Rome I-Regulation". Speakers from eight different member States of the EU will discuss current issues relating to choice of law, in a comparative law approach based in particular on the national courts' pratice of the Rome Convention. 9 Sep 2010 - 10 Sep 2010 Dijon - France. The conference language will be French.

The Swedish Arbitration Days 2010 - Damages and other relief in international arbitration, 16-17 September 2010

Näringslivets Hus, Storgatan 19, Stockholm. 16-17 September 2010, www.swedisharbitration.se

Swedish Arbitration Days 16-17 September 2010 - Damages and other relief in International Arbitration. The Swedish Arbitration Days 2010 will bring together leading international arbitration practitioners, well-known arbitrators, scholars, forensic evaluation experts and accounting experts in the appraisal of damages, among others, to discuss the issues of damages and other relief in international arbitration.

IV Düsseldorf International Arbitration School

September 20-24 2010. Düsseldorf, Germany. http://www.duslaw.eu/en/veranstaltungen/intensiv/arbitration_en

The last decades of the twentieth century have seen a phenomenal boom in international arbitration, with all the hazards and vagaries that come with sudden success. Anyone dealing with business transactions crossing borders now needs to be familiar with the special features of international commercial and investment arbitration. The five-day Düsseldorf International Arbitration School aims at providing young practitioners, post graduates and advanced students - especially Moot Court participants - with the requisite specific knowledge. The School is based on a highly practical, inter-active teaching concept.

Participants get the rare opportunity to improve their skills and knowledge in both the law and practice of international commercial arbitration. The teaching faculty consists of some of Europe's leading arbitration practitioners. The participants may accompany these practitioners on an exciting quest: the search for efficient and fair dispute resolution in a world where there is no "non-national commercial court of compulsory jurisdiction" - a world where the two major legal systems come together and merge. Each day will have a different theme, with a special focus on EU law and arbitration on the last day (conference day).

Participation is limited. Early application is highly recommendable. The fee is EUR 600 for practitioners, EUR 300 for full-time academics, EUR 250 for students/legal trainees and EUR 300 for Moot Court teams (team fee for up to four team members, additional fee of EUR 50 per person for further team members). Scholarships are only awarded on a rare basis and in exceptional cases.

How to Handle Competition Issues in an International Commercial Arbitration: 12 - 15 October 2010

This three-day intensive seminar based on a mock arbitration case will provide critical skills and practical insight into handling arbitration cases primarily under the auspices of the ICC Rules of Arbitration.

Foreign Direct Investment International Moot Competition (FDI Moot) 22-24 October 2010

The 2010 Oral Rounds will be held 22-24 October 2010 at Pepperdine University School of Law in Malibu, Cailfornia (on the Pacific Coast 20-45 minutes north of Los Angeles).

The "FDI Moot Problem 2010" and other information is available on the website http://www.fdimoot.org/

Fifth Annual Lecture on International Commercial Arbitration: 11 November 2010

The annual lecture offers an eminent figure in international arbitration a platform on which to share his or her ideas on novel issues and current trends in international arbitration, while providing practitioners and academics an exclusive opportunity to participate. The 2010 Annual Lecture will feature Yves Derains, Partner, Derains Gharavi & Lazareff.

Hong Kong International Arbitration Centre 25th Anniversary, 17-20 November 2010

http://www.hkiac.org/25th, Hong Kong

This year marks the 25th anniversary of the founding of the Hong Kong International Arbitration Centre (the “HKIAC”). To celebrate this special occasion, the HKIAC will host a series of events from 17-20 November in Hong Kong.

The festivities will commence on 17 November 2010 with the Kaplan Lecture 2010 and the Opening Reception. This year's Kaplan Lecture will be delivered by Toby Landau QC.

The HKIAC 25th Anniversary Conference will then be held from 18-19 November 2010. The theme for the Conference is "Rethinking International Arbitration". The Opening Keynote Speaker will be Jan Paulsson. The Conference will include many distinguished practitioners from around the world who will serve as presenters or moderators of the various sessions. These include Lord Hoffman, Lord Goldsmith QC, Professor Dr Gabrielle Kaufmann-Kohler, Arthur Marriott QC, Albert Jan van den Berg, David W. Rivkin, Dominique Brown-Berset, Hon. Charles Brower and others.

On 20 November 2010, the HKIAC will organise a mock arbitration co-supported by the ICC Court of International Arbitration and the Chartered Institute of Arbitrators, East Asia Branch.

For more details, please visit http://www.hkiac.org/25th or contact the HKIAC by email at adr (at) hkiac [dot] org or by fax at (852) 2524 2171.

BOOKS

Arbitration Under International Investment Agreements: A Guide to the Key Issues

Edited by: Katia Yannaca-Small
ISBN13: 9780195340693
ISBN: 0195340698
Published: May 2010
Publisher: Oxford University Press USA
Country of Publication: USA
Binding: Hardback

Price: £135.00 (available with discount, for TDM/OGEMID members only, contact us for details)

Investor-state arbitration is a relatively new dispute settlement mechanism that allows foreign investors the opportunity to seek redress for damages arising out of breaches of investment-related treaty obligations by the governments of host countries. Claims are submitted to independent, international arbitration tribunals, which are called upon to interpret the treaty at hand. Because of the public interest involved in these cases, the awards of these tribunals are subject to much scrutiny and debate. Thus, it has already generated hundreds of cases and created new legal disciplines, inspiring a continuous string of legal writings. This book describes the process of investor-state arbitration in all of its phases, and provides the reader with comprehensive insight into investor-state arbitration.

Arbitration Under International Investment Agreements: A Guide to the Key Issues includes contributions from many of the leading experts in the field, from private practitioners and academics to government and NGO officials. In this way, the book differs from other books on this topic because it includes contributions from all actors involved, providing more credibility in an area in which one of the main criticisms is bias against governments. This book provides pragmatic and reliable analysis of all aspects of this evolving topic.

Arbitraje en Materia de Inversiones. Memorias de las I Jornadas del Foro de Arbitraje en Materia de Inversiones

S. Rodríguez and H. Wöss
Mexico, Instituto de Investigaciones Jurídicas, 2010,
ISBN 978-607-02-1249-9
288 pages

The first book of the Investment Arbitration Forum (in Spanish) is now available online http://www.bibliojuridica.org/libros/libro.htm?l=2815

Foreign Currency Claims in the Conflict of Laws

Vaughan Black
April 2010, 262pp, Hbk
Hart Publishing
ISBN 9781841138923
Price: £55 / €71.50
Discount Price: £44 / €57 (for TDM/OGEMID members only, contact us for details)
http://www.hartpub.co.uk/books/details.asp?isbn=9781841138923

Problems in assessment of damages remain among the most contentious aspects of private law disputes. The assessment exercise becomes particularly difficult when one of the parties asks that damages be assessed in some foreign currency or claims that, even though damages should be assessed in the currency of the forum, foreign exchange losses should form a head of loss.

The 1975 decision of the House of Lords in Miliangos v George Frank (Textiles) Ltd was revolutionary in that it permitted English courts to award judgment in a foreign currency.

Miliangos has been influential throughout the common law world and courts in the commonwealth and the United States now contemplate awarding damages in currencies other than their own.

However, that modernisation has hardly eliminated the problems in this area. When may a judge assess damages in a currency other than that of the forum? If a court elects to assess damages in its own currency, what conversion date should it select in converting from a foreign currency that was relevant to the obligations between the parties? In an age of fluctuating currencies questions of this nature present judges with choices involving significant financial implications.

This book takes a comparative look at how common law courts have addressed damages claims when foreign currencies are involved, and at statutory responses to that issue. It describes the practices of UK, Commonwealth and American courts in this field and draws both on principles of private international law and of damages assessment to analyse current practice.

Vaughan Black is a Professor in the Schulich School of Law at Dalhousie University, Halifax, Canada.

ICSID

New: Niko Resources (Bangladesh) Ltd. v. People's Republic of Bangladesh, Bangladesh Petroleum Exploration & Production Company Limited ("Bapex") and Bangladesh Oil Gas and Mineral Corporation ("Petrobangla") (ICSID Case No. ARB/10/11)

Petroleum development contract, Registered May 27, 2010. See Petrobangla decides to fight Niko, May 25, http://www.southasianmedia.net/index_story.cfm?id=653055&category=Frontend&Country=BANGLADESH

Award: Chevron Bangladesh Block Twelve, Ltd. and Chevron Bangladesh Blocks Thirteen and Fourteen, Ltd. v. People's Republic of Bangladesh (ICSID Case No. ARB/06/10)

Outcome of Proceeding: Award rendered on May 17, 2010

Award: ATA Construction, Industrial and Trading Company v. Hashemite Kingdom of Jordan (ICSID Case No. ARB/08/2)

Document available on ICSID website

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

Status of Proceeding: Pending (the Tribunal issues a procedural order concerning new documentation on May 31, 2010)

Decision on Jurisdiction: Inmaris Perestroika Sailing Maritime Services GmbH and others v. Ukraine (ICSID Case No. ARB/08/8)

Document available on ICSID website

Award: Alasdair Ross Anderson and others v. Republic of Costa Rica (ICSID Case No. ARB(AF)/07/3)

Outcome of Proceeding: Award rendered on May 19, 2010.

Compagnie d'Exploitation du Chemin de Fer Transgabonais v. Gabonese Republic (ICSID Case No. ARB/04/5)

Outcome of Proceeding: The ad hoc Committee renders its decision on the application for annulment on May 11, 2010.

CEMEX Caracas Investments B.V. and CEMEX Caracas II Investments B.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/08/15)

Status of Proceeding: Pending (the Respondent files a reply on jurisdiction on May 17, 2010)

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

Status of Proceeding: Pending (the Tribunal issues a procedural order concerning the procedural calendar on May 19, 2010)

Mobil Investments Canada Inc. and Murphy Oil Corporation v. Canada (ICSID Case No. ARB(AF)/07/4)

Status of Proceeding: Pending (the Tribunal issues a decision on the request for production of documents on May 24, 2010)

Compagnie d'Exploitation du Chemin de Fer Transgabonais v. Gabonese Republic (ICSID Case No. ARB/04/5)

Outcome of Proceeding: The ad hoc Committee renders its decision on the application for annulment on May 11, 2010.

Swisslion DOO Skopje v. Macedonia, former Yugoslav Republic of (ICSID Case No. ARB/09/16)

Status of Proceeding: Pending (the Tribunal holds a first session in Paris on May 11, 2010)

Giordano Alpi and others v. Argentine Republic (ICSID Case No. ARB/08/9)

Status of Proceeding: Pending (Pursuant to the parties' agreement, the proceedingis suspended on May 5, 2010)

Visit Transnational Dispute Management > Call for papers > Recently published articles > Published specials > OGEMID