issue #11, week 48. 29 November 2011
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.

Comments, suggestions, news?

If you have news, comments or suggestions feel free to send them.

Archived issues

Transnational Dispute Management Linkedin, Twitter, Facebook



Follow us OGEL & TDM on twitter @ogeltdm



Notice 2021: New publication:

Transnational Arbitration Observer (News & Analysis)

Covering international dispute management, arbitration, mediation, investment disputes (ISDS), and more...

TAO Twitter, TAO Linkedin

Launched 2022: Transnational Arbitration Observer (TAO) - https://taobserver.com/ - is a source of daily news and analysis aimed at keeping its readership abreast of recent developments in transnational arbitration (investment & commercial arbitration, mediation, and so forth). It complements the existing Transnational Dispute Management (TDM, ISSN 1875-4120) law journal. Visit https://taobserver.com/ and register for the daily headlines (email) or follow TAO on social media twitter.com/taobserver and linkedin.com/company/taobserver/ Questions? Contact info@maris.nl.

TDM

TDM 4 (2011) - Contingent Fees and Third Party Funding in Investment Arbitration Disputes

TDM 4 (2011) Special: Contingent Fees and Third Party Funding in Investment Arbitration Disputes

Prof. Maya Steinitz and Joe Matthews prepared this TDM Special Issue on "Contingent Fees and Third Party Funding in Investment Arbitration Disputes" which will hopefully help to advance the analysis of issues presented by the growth of contingent fee and third party funding arrangements in international arbitration, particularly investment arbitration.

Table of contents TDM 4 (2011)

Young-OGEMID virtual symposia

Young-OGEMID is a free listserv associated with our Transnational Dispute Management law journal for Students and (junior) Associates - you can apply for your free membership here: www.transnational-dispute-management.com/young-ogemid/

Call for contributions

Recent issues:

NEWS

EFTA States and Montenegro sign Free Trade Agreement

Nov 14, http://www.efta.int/free-trade/free-trade-news/2011-11-14-efta-montenegro-fta-signing.aspx

Ministers from the Member States of the European Free Trade Association (EFTA) - Iceland, Liechtenstein, Norway and Switzerland - and Montenegro have signed a Free Trade Agreement (FTA) today. The FTA will further enhance the economic ties and promote trade and investment between the two sides.

The EFTA-Montenegro FTA was signed by Trond Giske, Minister of Trade and Industry of Norway; Einar Gunnarsson, Permanent Secretary of State of the Ministry for Foreign Affairs and External Trade of Iceland; Aurelia Frick, Minister of Foreign Affairs of Liechtenstein; and Johann N. Schneider-Ammann, Head of the Federal Department of Economic Affairs of Switzerland; as well as by Vladimir Kavaric, Minister of Economy of Montenegro.

Trade relations between the EFTA States and Montenegro build on a solid foundation, with a Joint Declaration on Cooperation that was first signed in 2000 with the former Federal Republic of Yugoslavia, which remained in force with Montenegro following its independence in 2006. The negotiations between EFTA and Montenegro were launched in March 2011 and concluded in July 2011.

While the FTA covers primarily trade in industrial goods, including fish, bilateral agreements on agricultural products between the individual EFTA States and Montenegro also form part of the instruments establishing the free trade area between the two sides. In other fields, the basis has been laid for agreeing on preferential rules in the future. A Joint Committee will supervise the functioning of the FTA, which will become effective after the completion of the necessary internal procedures by the Parties.

Merchandise trade between the EFTA States and Montenegro increased at an average rate of 92.9% between 2006 and 2010. In 2010, total trade between the two sides was valued at USD 14.1 million, with EFTA's exports to Montenegro amounting to USD 13.3 million and imports reaching USD 0.8 million. EFTA's main exports to Montenegro include pharmaceutical products, toys and sports requisites, while EFTA imports consist essentially of machinery.

With a combined population of around 13 million, the EFTA States are the world's 11th largest merchandise trader, as well as significant actors in the areas of trade in services and foreign direct investment. They have now concluded 24 FTAs with a total of 33 partner countries outside the European Union.

CEDR acquires IDRS Ltd from CIArb, organisations announce way is paved for greater cooperation

Nov 9, http://www.cedr.com/news/?380

CEDR acquires IDRS Ltd from CIArb, organisations announce way is paved for greater cooperation

A4ID: Implementation of Guiding Principles on Business and Human Rights by law firms

Nov 14, http://a4id.org/story/implementation-guiding-principles-business-and-human-rights-law-firms

Report: http://a4id.org/resource/report/guidingprinciples

The charity Advocates for International Development (A4ID) today released a new report that considers how the new UN Guiding Principles on Business and Human Rights should be implemented by law firms.

Acron and Yara Sign Settlement Agreement

Nov 21, http://www.4-traders.com/AKRON-OAO-6497137/news/AKRON-OAO-Acron-and-Yara-Sign-Settlement-Agreement-13899465/

Acron and Yara International ASA have reached a settlement agreement that brings an end to the dispute regarding Nordic Rus Holding and terminates proceedings at the Arbitration Institute of the Stockholm Chamber of Commerce.

Africa's oil scramble heads east to uncertain waters

Oct 28, http://www.reuters.com/article/2011/10/28/us-africa-oil-frontiers-idUSTRE79R1Q820111028

Reuters - Africa's new scramble for oil is heading east, where the potential could be huge but the risks are far higher than in the well-established sector on the continent's west coast.

All eyes on US over trade deal (TPP)

Nov 17, http://www.todayonline.com/Business/EDC111117-0000064/All-eyes-on-US-over-trade-deal

SINGAPORE - United States President Barack Obama's presence at the Asia-Pacific Economic Cooperation (APEC) summit last weekend appears to have helped speed up negotiations on the Trans Pacific Partnership (TPP) agreement.

Alnowaiser to head ICC Saudi Arabia arbitration team

Nov 20, http://arabnews.com/saudiarabia/article535750.ece

Prominent lawyer Khalid Alnowaiser has been selected as the president of the ICC Saudi Arabia Arbitration Committee. He will also represent the committee at the International Chamber of Commerce (ICC) in Paris.

Analysis: Exxon Kurdistan foray tests Iraq's centralist resolve

Nov 24, http://www.reuters.com/article/2011/11/24/us-exxon-iraq-idUSTRE7AN1GC20111124

Reuters - Exxon Mobil's venture into Iraqi Kurdistan challenges Prime Minister Nuri al-Maliki's resolve against growing regional separatism and tests the investment strategy of the oil majors in Iraq.

Argentina: More Statism in Economy

Nov 16, http://www.latinbusinesschronicle.com/app/article.aspx?id=5256

Future Policy - Capital controls are being tightened, with the greatest impact on mining firms. ... Mining in Argentina is governed by the Mining Investment Law (MIL), which grants fiscal stability for 30 years including the right to repatriate profits. Speaking anonymously, mining firms have described the decree as a new 'royalty' in disguise that breaches the MIL (they were already expecting royalty and tax increases following the election).

ASEAN-Australia-New Zealand FTA (AANZFTA) to enter into force for Indonesia

Nov 20, http://www.dfat.gov.au/fta/aanzfta/index.html#news

Australia welcomes entry-into-force for Indonesia on 10 January 2012. AANZFTA will then be in force for all 12 signatories: Australia, Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, New Zealand, Philippines, Singapore, Thailand and Vietnam.

At the inaugural Indonesia-Australia Annual Leaders' meeting, 20 November 2011 in Bali, Indonesia, Prime Minister Gillard and President Yudhoyono stated in their Joint Communique, "Great potential exists to promote trade and investment links between the two economies — the two largest in the region. We welcomed the entry into force of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) and committed to commence negotiations on an Indonesia-Australia Comprehensive Economic Partnership Agreement at the earliest opportunity."

Australia poised to fight big tobacco in courts

Nov 10, http://www.boston.com/news/world/asia/articles/2011/11/10/australia_poised_to_fight_big_tobacco_in_courts/

Australian government said Thursday it is ready to fight big tobacco companies in court to enact the world's toughest laws on cigarette promotion -- rules that would ban logos and other advertising on cigarette packs.

Australia: Philip Morris Asia Files Lawsuit Against the Australian Government Over Plain Packaging

Nov 21, http://www.pmi.com/eng/media_center/press_releases/pages/20111121_Australia_Plain_Packaging_Lawsuit.aspx

HONG KONG -- Philip Morris Asia Limited (PMA), Hong Kong, owner of Australian affiliate, Philip Morris Limited (PML), today announced that it has begun legal proceedings against the Australian Government by serving a Notice of Arbitration under Australia's Bilateral Investment Treaty with Hong Kong. The Notice of Arbitration was served on the Government immediately following the passage of plain packaging legislation for tobacco products by the Australian Parliament.

Commenting on today's announcement, PMA spokesperson Anne Edwards said: "We are left with no option. The Government has passed this legislation despite being unable to demonstrate that it will be effective at reducing smoking and has ignored the widespread concerns raised in Australia and internationally regarding the serious legal issues associated with plain packaging."

PMA is seeking suspension of the legislation and substantial compensation for the loss of the company's valuable trademarks and investments in Australia that will result from plain packaging. The company expects damages to amount to billions of dollars and that the legal process will take 2 to 3 years.

"We are confident that our legal arguments are very strong and that we will ultimately win this case," added Anne Edwards.

PML also intends to pursue claims under domestic law before the High Court of Australia.

Australia: Tobacco firms fuming over Australia's "plain package" law

Nov 10, http://www.cbsnews.com/8301-504763_162-57322282-10391704/tobacco-firms-fuming-over-australias-plain-package-law/

CBS/AP - Big Tobacco is under fire Down Under, with the Australian government saying it is ready to fight cigarette makers in court to enact the world's toughest laws on cigarette packaging.

Australian firm says Indian judiciary under govt thumb in corporate row

Nov 8, http://www.indianexpress.com/news/australian-firm-says-indian-judiciary-under-govt-thumb-in-corporate-row/872383/0

It is a minor case between an Indian and Australian company being heard by an arbitration panel in London. However, senior officials here are among those involved, as the Australian firm, White Industries, has argued before the panel that the Indian judiciary works under the influence of the government of India and that the latter has stalled hearing of its appeal against Coal India Ltd.

Citigroup Says Arbitration Panel Favors Bank Over Abu Dhabi

Nov 4, http://www.bloomberg.com/news/2011-11-04/citigroup-says-arbitration-panel-favors-bank-in-abu-dhabi-claims.html

Citigroup Inc. said an arbitration panel awarded in its favor on all claims made by the Abu Dhabi Investment Authority tied to its $7.5 billion investment in the New York-based lender.

Bahrain Chamber for Dispute Resolution: $500 million arbitration claims

Nov 13, http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=317570

AROUND $500 million (BD189m) has been claimed in 13 resolved cases by the Bahrain Chamber for Dispute Resolution in its first year of operation last year, an official has revealed. This year the Bahrain Chamber for Dispute Resolution (BCDR)-American Arbitration Association (AAA) has received 27 cases, said BCDR-AAA chief executive James MacPherson. Most cases have been for the financial sector, either banks, insurance companies or investors and have involved parties from Bahrain and abroad.

Bolivia: Update on Guaracachi Arbitration Process - Rurelec

Nov 28, http://www.rurelec.com/news-and-publications/216-update-on-guaracachi-arbitration-process

Rurelec PLC, the electricity utility which owns and operates power generation capacity in Latin America is pleased to provide an update on its pending international arbitration against the Government of Bolivia pursuant to the UK/Bolivia and US/Bolivia bilateral investment treaties arising out of Bolivia's nationalisation and expropriation of Rurelec's controlling stake in Empresa Guaracachi SA ("Guaracachi") on 1 May 2010. As explained in our previous updates, we continue to pursue with all vigour the arbitration claims that we and our US subsidiary, Guaracachi America Inc., have against Bolivia with the aim of obtaining a just compensation for that investment.

The arbitral tribunal has been appointed. The members (and respective nationalities) are: Dr Manuel Conthe (Spain), nominated by us and Guaracachi America, Inc., Professor Raúl Vinuesa (Argentina), nominated by the Government of Bolivia and Dr Jose Miguel Júdice (Portugal) President, appointed by the Appointing Authority and former President of the International Court of Justice, Judge Gilbert Guillaume of France.

Following discussions between the parties and conference calls with the Tribunal, the arbitral procedure has now been established and includes the following key elements:

- Transparency of the arbitration proceedings (main written pleadings and any final hearing will be accessible to the public);
- The seat of the arbitration will be The Hague, Netherlands;
- The arbitration will be administered by the internationally recognised Permanent Court of Arbitration in the Hague.
- The English and Spanish languages will have equal status; and
- The 2010 UNCITRAL Arbitration Rules will govern the arbitration.

International law requires the payment of compensation amounting to the full market value of the expropriated investment prior to any threat of expropriation. In this regard, Rurelec has commissioned an independent firm of internationally recognised experts to prepare a formal open market valuation of its holding in Guaracachi prior to such threat. This valuation will be presented to the arbitral tribunal, together with Rurelec's detailed statement of claim, supporting documents and witness statements, in March 2012. Commenting on the expansion Peter Earl, Chief Executive of Rurelec said:

"I am pleased with the progress which we are making towards a resolution of our compensation claims against the Plurinational Government of Bolivia. A year on from the expropriation of our Guaracachi shares, Rurelec is a very different company today with a strong balance sheet and cash flow from Argentina and we are well supported by our shareholders. We are now at an advanced stage of the arbitration process and look forward to a positive outcome in 2012.

BP says shareholder control broke down at unit of TNK-BP

Nov 3, http://www.reuters.com/article/2011/11/03/bp-russia-idUSL5E7LV3DD20111103

Reuters - BP has written to its main partner in TNK-BP asking for an assurance there be no repeat of what the British oil company said was a breakdown in corporate governance at the main operating unit of its Russian joint venture.

Bulgaria-Russia: Atomstroyexport Doubles Claim against NEC

Oct 27, http://paper.standartnews.com/en/article.php?d=2011-10-27&article=37548

Russia's Atomstroyexport, contracted to build Bulgaria's second nuclear power plant, Belene, may double the claim against Bulgaria's energy utility NEC that they filed at the International Court of arbitration, seated in Paris.

See also "Bulgaria Unaware of Russia's Plans for Costlier Penalty over Belene" http://www.novinite.com/view_news.php?id=133354

Bundestag ratifies Investment Treaty with Pakistan

Nov 13, http://www.brecorder.com/market-data/stocks-a-bonds/single/636/0/1250684/

The Bilateral Investment Treaty (BIT), signed by Germany and Pakistan in 2009, has been ratified by German parliament, which has sent it to the European Commission for final approval, Pakistan's Ambassador to Germany, Shahid Kamal, told PPI here on Saturday.

Canada: AeroMechanical Services Files Arbitration

Nov 18, http://www.flyht.com/2011/11/aeromechanical-services-files-arbitration/#more-2423

AeroMechanical Services Ltd., announced today it has filed an application with the Court of Queen's Bench of Alberta against Sierra Nevada Corporation ("SNC") seeking the appointment of an arbitrator as a result of the absence of progress on discussions regarding outstanding accounts payable.

Canada: Arbitration Tribunal Declares Goldbrook Entitled to Credit for Share of Rebates

Oct 31, http://www.goldbrookventures.com/media/2011%20-%2018%20Tribunal%20Declares%20Arbitration%20Award_Oct%2031.pdf

On September 7, 2011, Goldbrook Ventures Inc. ("Goldbrook", TSX-V: GBK) announced that it had commenced arbitration proceedings in British Columbia against Jilin Jien Nickel Industry Co., Ltd., and its affiliates ("Jilin Jien"), in respect of Jilin Jien's handling of rebates received from the Quebec government for expenditures on the property (the "Property") subject to an Option-Joint Venture Agreement between Goldbrook and Jilin Jien and other disputes relating to Jilin Jien's actions as Operator of the joint venture between Goldbrook and Jilin Jien.

Jilin Jien had proposed to unilaterally establish an environmental contingency fund and to appropriate $2,400,404.47 in rebates received from the Quebec government ("2009 Rebates") to be contributed to that fund. On October 28, 2011, the Arbitration Tribunal announced that Jilin Jien's establishment of the environmental contingency fund is not authorized by, and is contrary to the Option-Joint Venture Agreement.

The Tribunal further held that the $2,400,404.47 received in 2009 Rebates must be credited pro rata to Goldbrook and Jilin Jien's interests in the joint venture. Goldbrook and Jilin Jien each hold a 50% interest in the joint venture. Accordingly, Goldbrook will receive a credit of $1,200,202.23 from the 2009 rebates.

Goldbrook has been advised that a further $1,054,629 in respect of a mining duties rebate relating to 2008 expenditures has been approved by the Quebec government and that payment is expected within the next six to eight weeks. When payment of this further rebate is received, Goldbrook will also be entitled to credit of 50%, or $527,314.50, in respect of this rebate, according to the Tribunal's ruling.

The 2011 Program approved by the Management Committee for the project is $2.78 million. Goldbrook has already contributed $487,188 towards the 2011 Program and has elected to participate. The Tribunal's decision means that Goldbrook's remaining share of the 2011 Program is fully funded by the 2009 Rebates already received by the joint venture project.

The Tribunal denied a number of other orders sought by both parties and no damages were awarded to either party. The Tribunal further ordered that each party should bear its own costs of the arbitration and should pay for one half of the costs of the Tribunal and any administration fees.

Canada: B.C. lumber producers file statement of defence in pine beetle export case

Nov 17, http://www.brandonsun.com/business/breaking-news/bc-lumber-producers-file-statement-of-defence-in-pine-beetle-export-case-134089183.html?thx=y

A statement of defence has been filed against a complaint alleging violations of the Canada-U.S. softwood lumber agreement involving the export of wood from trees savaged by the mountain pine beetle in British Columbia. The more than 200-page statement, outlining U.S. allegations and Canada's response, was filed earlier this week before the London Court of International Arbitration.

Chili: DJ Codelco CEO: Copper Investment In Chile Won't Fall On Anglo Row

Nov 17, http://www.londonstockexchange.com/exchange/news/dow-jones/news-detail.html?newsId=20111117DN011803

Dow Jones - Foreign investment in Chile's mining industry won't decrease as a result of state copper giant Corporacion Nacional del Cobre's legal battle over a stake in Anglo American PLC's Sur mining complex, the chief executive of the state miner said Thursday. Anglo and Codelco, as the state company is known, are at odds with each other over an option Codelco has on a stake in Sur, which includes valuable assets such as the El Soldado and Los Bronces mines and the Chagres copper smelter.

China Set up 1st Int'l Chamber of Commerce for Private Firms

Nov 25, http://www.menafn.com/qn_news_story.asp?storyid=%7B3cd4efa2-a6f2-4d33-88d6-b651b8dd5e07%7D

The China International Chamber of Commerce for the Private Sector (CICCPS), the first international chamber of commerce in China exclusively serving private enterprises, was founded on November 24.

The English website of CICCPS can be found here http://en.ciccps.org/

China's red tape a black hole for Canadian miners

Nov 9, http://www.theglobeandmail.com/report-on-business/international-news/global-exchange/globe-correspondents/chinas-red-tape-a-black-hole-for-canadian-miners/article2230362/

A much sought investor protection treaty with China won't be enough to help Canadian mining companies struggling to advance their business here beyond exploration rights, the federal minister of natural resources has warned.

China: Oil Riches Pile on China Doorstep as Clashes Delay Drilling

Nov 14, http://www.businessweek.com/news/2011-11-14/oil-riches-pile-on-china-doorstep-as-clashes-delay-drilling.html

The South China Sea may hold 213 billion barrels of oil, or 80 percent of Saudi Arabia's reserves, according to Chinese studies cited in 2008 by the U.S. Energy Information Agency. The world's second-largest economy claims "indisputable sovereignty" over most of the sea, including blocks off Vietnam that Exxon Mobil Corp. and Russia's Gazprom OAO are exploring.

Congo: Bargain Mine Sales Draw Fire

Nov 18, http://www.menafn.com/qn_news_story.asp?storyid=%7Be0a1f73f-187b-4708-8ef1-2b920ef588e1%7D

Mining companies stripped of valuable concessions have been sounding out the opposition before the presidential election, which is expected to take place on 28 November.

Czech insurer VZP audit of IZIP shows millions ‘vanished’

Nov 18, http://www.ceskapozice.cz/en/business/companies/czech-insurer-vzp-audit-izip-shows-millions-%E2%80%98vanished%E2%80%99

It is likely that on Monday the VZP board will vote to at least temporarily halt the IZIP project, now in operation for ten years — although there are concerns that doing so could open the state insurer to arbitration. Also on the agenda is a proposal to finalize its purchase of a 46 percent stake in IZIP, in which the state insurer currently holds just 5 percent. Regional software compnay Asseco CE reportedly recently bought a 49 percent a stake in the medical records company.

Dubai to introduce new laws to boost business environment

Nov 22, http://www.menafn.com/cm/corp_story.asp?StoryId=1093458293&corpID=

It is worth noting that the new laws would help update regulations which governed competition, foreign investment, arbitration, intellectual property, firms, industries and small and medium enterprises.

Dubai: Council urges clearer rules on foreign direct investment - Law drafted in 2009 but yet to be ratified and signed

Nov 24, http://gulfnews.com/business/economy/council-urges-clearer-rules-on-foreign-direct-investment-1.936391

The Dubai Economic Council (DEC) says that the emirate needs clearer regulations governing foreign direct investment (FDI).

East Africa: Blueline Award Threatens Existence of EADB

Nov 20, http://allafrica.com/stories/201111211412.html

In a dramatic ending a fortnight ago to a legal battle that has engaged the region's legal minds for the better part of two decades, the High Court of Tanzania allowed the attachment of the EADB's physical assets in Tanzania if the bank failed to settle a $137 million arbitration award in favour of Blue-line Enterprises Limited.

Ecuador: Arbitrators near jurisdiction call in Chevron case

Nov 28, http://www.reuters.com/article/2011/11/28/chevron-ecuador-idUSN1E7AR1PA20111128

Chevron lost $18 bln pollution case in Ecuador court; Chevron eyes on arbitrators after New York court setback; If the case is heard, arbitration process may take years.

Egypt chooses high-profile counsel in gas deal arbitration

Nov 15, http://www.almasryalyoum.com/en/node/514873

Emmanuel Gaillard and Yas Banifatemi of the law firm Shearman & Sterling LLP will represent Egypt's gas company, lawyers have confirmed to Al-Masry Al-Youm. ... Freshfields Bruckhaus Deringer LLP, M. Firon & Co. and Baker Botts LLP will serve as counsel for Eastern Mediterranean Gas.

Egypt settles legal disputes with foreign firms

Nov 1, http://www.reuters.com/article/2011/11/01/egypt-investment-idUSL5E7M11GF20111101

Reuters - The Egyptian government has settled five disputed deals with European and Gulf investors out of court ... Saleh said discussions were under way to amend Egypt's investment law to allow for out-of-court reconciliation as a method to solve disputes.

Egypt: Samih Sawiris may Resort to International Arbitration over Haram City Project

Nov 3, http://yallafinance.com/2011/11/03/samih-sawiris-may-resort-to-international-arbitration-over-haram-city-project/

Orascom Hotel's chairman, Samih Sawiris, told the Al Arabyia channel that Orascom may seek international arbitration if the Egyptian government withdraws land it previously allocated to Haram City.

Germany, Liechtenstein Sign DTA

Nov 21, http://www.tax-news.com/news/Germany_Liechtenstein_Sign_DTA____52577.html

The Principality of Liechtenstein and the Federal Republic of Germany have recently signed in Berlin a bilateral double taxation agreement (DTA) between the two countries, intended to secure mutual legal, planning and investment security. ... According to the ministries, the DTA also contains regulations designed to prevent misuse of the treaty, to ensure that the agreement is not used as a means to evade taxes, as well as a comprehensive binding arbitration clause.

Germany: E.ON to sue German government over nuclear closure

Nov 14, http://www.reuters.com/article/2011/11/14/eon-nuclear-court-idUSL5E7ME3T320111114?feedType=RSS&feedName=utilitiesSector

Reuters - E.ON says its ownershop rights have been infringed upon; Sector peers plan similar steps; Compensation for loss of production income sought. "We will file the complaint today," a spokesman said from the company's Duesseldorf headquarters.

Germany: E.ON to sue government on nuclear exit

Nov 3, http://www.reuters.com/article/2011/11/03/eon-complaint-idUSL5E7M31HF20111103

Reuters - E.ON, Germany's largest utility by sales, will file a complaint with Germany's highest court claiming compensation for the country's nuclear exit, German paper Financial Times Deutschland reported.

GN Store Nord: Austrian court rules in favor of DPTG in the TPSA dispute

Nov 9, https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=477488&messageId=583223

As expected, the Commercial Court (Handelsgericht) in Vienna, Austria today announced that the request made by TPSA to set aside the award of DKK 2.9 billion rendered for Phase 1 on September 3, 2010, by the Arbitration Tribunal has been dismissed.

Gold Reserve Inc: ICSID Arbitration update - oral hearing scheduled for 6-17 February 2012

Oct 31, http://www.goldreserveinc.com/documents/nr%2011-05.pdf

The Company's international arbitration against the Republic of Venezuela regarding the expropriation of its Venezuelan investments remains pending - with the oral hearing scheduled to take place February 6- 17, 2012. In accordance with the procedural calendar in the case, the Company filed its Reply on July 29, 2011, updating its claim to $2.1 billion to account for interest accrued since its earlier filing. In response to a request from Venezuela, the Tribunal agreed to amend the procedural calendar to permit Venezuela to file its Rejoinder on December 5, 2011. The Rejoinder is the last filing to be made prior to the oral hearing.

Greece: NewLead Holdings Ltd. Announces Fourth Favorable Arbitration Award Against TMT Bulk Corp.

Nov 23, http://phx.corporate-ir.net/phoenix.zhtml?c=190546&p=irol-newsArticle&ID=1633296&highlight=

NewLead Holdings Ltd., an international shipping company owning and operating tankers and dry bulk vessels, today announced that it has recently received a fourth favorable arbitration award against TMT Bulk Corp. ("TMT") for $1,757,015.04 plus interest. The total amount awarded to date, under the four interim arbitration awards, is approximately $7,000,000 plus interest.

As of November 18, 2011, the total outstanding amount owed by TMT to NewLead was approximately $9,700,000 plus interest and costs.

Michael Zolotas, president and chief executive officer of NewLead, stated, "As previously announced, we will continue to pursue all our rights and we remain confident that we will receive complete payment of the amounts owed by TMT."

Greece: NewLead Holdings Ltd. Announces Third Favorable Arbitration Award Against TMT Bulk Corp

Nov 15, http://phx.corporate-ir.net/phoenix.zhtml?c=190546&p=irol-newsArticle&ID=1630481&highlight=

NewLead Holdings Ltd., an international shipping company owning and operating tankers and dry bulk vessels, today announced that it has recently received a third favorable arbitration award against TMT Bulk Corp. for $1,334,663.26 plus interest. The total amount awarded to date, under the three interim arbitration awards, is $5,267,488.34 plus interest.

As of November 12, 2011, the total outstanding amount owed by TMT to NewLead including the aforementioned awarded amount was approximately $9,300,000 exclusive interest and costs. Currently, a total amount of approximately $10,200,000 is held as security for the Company's claims against TMT.

Michael Zolotas, president and chief executive officer of NewLead, stated, "We continue to pursue all our rights to receive complete payment of the amounts owed by TMT."

Gruma's operations in Venezuela

Nov 15, http://www.sec.gov/Archives/edgar/data/1053947/000105394711000028/release1511gmk.htm

Monterrey, N.L., Mexico, November 15, 2011. GRUMA, S.A.B. de C.V. (''GRUMA'') (NYSE: GMK, BMV: GRUMAB) in connection with our May 13th, 2010 press release, and with the information disclosed in our 20-F Report, hereby informs the following:

By virtue of the expropriatory measures on the movable assets, real estate properties and their improvements of Molinos Nacionales C.A. (''Monaca''), adopted by the Government of the Bolivarian Republic of Venezuela (the ''Venezuelan Government''), pursuant to the Presidential Decree No. 7,394 published in the Official Gazette of Venezuela on May 12, 2010 (the ''Expropriation Decree''), Valores Mundiales S.L., a Spanish company subsidiary of GRUMA which owns 100% of Monaca's capital stock, initiated on the immediate subsequent date, negotiations with the Venezuelan Government in order to reach a friendly settlement arising from the respective controversy including among other matters, the corresponding payment of a fair and reasonable compensation for the expropriated assets.

In these negotiations, by virtue of the expropriation decree, the Venezuelan Government has declared interest in including Derivados de Maiz Seleccionado, Demaseca, C.A. (''Demaseca''), an entity 100% controlled by Consorcio Andino, S.L., a Spanish company and a subsidiary of GRUMA within the scope of the expropriatory measures.

As Spanish companies, the investments of Valores Mundiales, S.L. and Consorcio Andino, S.L. in Monaca and Demaseca, and their respective assets, are protected by the Treaty for the Reciprocal Promotion and Protection of Investments between Spain and Venezuela, executed by the governments of both countries on November 2nd, 1995 (the ''Investment Treaty'').

In seeking to procure to reach the friendly settlement of the disputes that arose from the publication of the Expropriation Decree, on November 9th, 2011 Valores Mundiales, S.L., Consorcio Andino, S.L., Monaca and Demaseca gave formal notice of those controversies to the Venezuelan Government pursuant to article XI(1) of the Investment Treaty, and accepted the consent granted by the Bolivarian Republic of Venezuela in the Investment Treaty to submit, if necessary, their disputes to arbitration before the International Centre for Settlement of Investment Disputes (the ''ICSID''), should a friendly agreement settling those disputes may not be reached in order to finish with those controversies.

At this stage of the negotiations, we are unable to guarantee that our involvement in such negotiations will result in a fair and reasonable compensation, if any, to GRUMA, trough Valores Mundiales, S.L., and Consorcio Andino, S.L., for the assets subject to the Expropriation Decree, and we cannot anticipate the difficulty of collection, among other matters. In addition, we cannot foresee the position that the Venezuelan Government may adopt during future negotiations. The ultimate outcome of this matter is presently uncertain.

GRUMA reaffirms that it has always been in compliance with Venezuelan laws and regulations, GRUMA and its subsidiaries Valores Mundiales, S.L., Consorcio Andino, S.L., Monaca and Demaseca, as socially responsible companies, ratify their commitment with the people and the Government of the Bolivarian Republic of Venezuela, to continue producing high quality food products in order to satisfy the demand and needs for their products by the Venezuelan population.

Hungary: Former Owners of Hungarian Radio Licenses Request International Arbitration on Anniversary of Expropriation

Oct 27, http://www.emmis.com/Press/story.aspx?ID=1562849

Emmis Communications Corporation has joined with Accession Mezzanine Capital (AMC) today in filing a request for arbitration at the International Centre for Settlement of Investment Disputes (ICSID) against the Republic of Hungary.

The claimants operated the two national commercial radio stations in Hungary, SlágerRádió and Danubius Rádió, under licenses granted by the Hungarian broadcast regulator, ORTT. Two years ago on this date --October 28, 2009 -- ORTT awarded these licenses to two Hungarian entities with close ties to the two largest Hungarian political parties.

This action was condemned at the time as corrupt political favoritism by the Ambassadors from nine of Hungary's largest trading partner nations, the local and world press, and the U.S. Congress, among others. Sláger and Danubius won decisions in the Hungarian courts finding that ORTT violated Hungarian law, but these courts were unable to provide any effective remedy for the illegal actions.

In their ICSID filing, Emmis and AMC assert that the Republic of Hungary has violated its treaty obligations by expropriating private property without compensation and not extending fair and equitable treatment to non-Hungarian investors.

Emmis and AMC are represented in the arbitration by the Washington, D.C. office of Covington & Burling, LLP.

Request for arbitration available here: https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=6548

ICSID: Revised Schedule of Fees Effective January 1, 2012

Nov 23, http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=OpenPage&PageType=AnnouncementsFrame&FromPage=Announcements&pageName=Announcement98

ICSID will revise its Schedule of Fees effective January 1, 2012.

The Centre's administrative fee, which has been in effect since January 1, 2008, will be adjusted to US$32,000 for all new and pending cases. The administrative fee is levied after the constitution of the conciliation commission, arbitral tribunal, or ad hoc committee and annually thereafter.

The Centre will also eliminate the fee it currently charges parties for its legal staff to attend hearings held away from the seat of the Centre. This fee, which is currently US$1,500 per day of hearing and travel, will be covered by the administrative fee.

In addition, the costs of hearing rooms will now be covered by the administrative fee when the proceedings are held in World Bank Group facilities.

India can become a preferred arbitration destination with a better focus on improving cost and time efficiencies in dispute resolution: Ernst & Young Survey

Nov 18, http://www.ey.com/IN/en/Newsroom/News-releases/India-can-become-a-preferred-arbitration-destination-with-a-better-focus-on-improving-cost-and-time-efficiencies-in-dispute-resolution--Ernst---Young-Survey

Download report: http://www.ey.com/Publication/vwLUAssets/Changing_face_of_arbitration_in_India/$FILE/Changing_face_of_arbitration_in_India.pdf

Mumbai: The rapidly changing arbitration environment in India is making the role & involvement of law firms and domain experts increasingly important. In the backdrop of recent efforts undertaken by the Law Minister towards updating the Arbitration Act, Ernst & Young Fraud Investigation and Dispute Services (FIDS) team conducted a survey to understand the current perspective of general counsels, Indian and International law firms and key members of the legal fraternity on Arbitration in India.

India, US move forward on investment protection treaty

Nov 8, http://www.mydigitalfc.com/news/indiaus-move-forward-investment-protection-treaty-044

PTI - The proposed India-US investment protection treaty is back on the negotiating table and is moving forward, Commerce Secretary Rahul Khullar said today.

India: Arbitration gains ground in India despite holdups and cost concerns

Nov 28, http://www.thelawyer.com/arbitration-gains-ground-in-india-despite-holdups-and-cost-concerns/1010415.article

Arbitration as a form of dispute resolution is increasing in popularity in India, but remains beset by administrative problems, a survey has found.

India: Arbitration proceedings may be initiated against Reliance Industries

Nov 21, http://www.thehindu.com/business/companies/article2647717.ece

In a move that could spell fresh trouble for Mukesh Ambani-owned Reliance Industries Ltd. (RIL), the Petroleum and Natural Gas Ministry is understood to have given the green signal for a possible ‘arbitration' proceedings against the company to recover the $1.85 billion expenditure that has been disallowed in the KG basin D6 block.

India: High Court rejects J K Industries'' plea against tribunal''s direction

Nov 27, http://news.in.msn.com/national/article.aspx?cp-documentid=5627104

PTI - The Delhi High Court has rejected a plea by J K Industries Ltd challenging a global arbitral tribunal''s direction to pay damages for not supplying urea to a Switzerland-based firm as per agreement terms.

India: Public Interest Litigation accuses ONGC of collecting funds in the name of charity

Nov 25, http://www.dnaindia.com/india/report_pil-accuses-ongc-of-collecting-funds-in-the-name-of-charity_1617192

A Public Interest Litigation (PIL) filed seeking probe into the alleged collection of donation from multinational companies and drilling contractors, may spell trouble for top officials of country’s oil giant Oil and Natural Gas Corporation (ONGC).

India: Reliance Industries sends arbitration notice to Oil Ministry on KG-D6 cost-recovery

Nov 28, http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/reliance-industries-sends-arbitration-notice-to-oil-ministry-on-kg-d6-cost-recovery/articleshow/10904347.cms

In the arbitration notice, Reliance stated that the move to limit the amount of expenditure the company can recoup from its flagging KG-D6 fields is illegal and outside the Production Sharing Contract (PSC), sources privy to the development said.

Iraq, Turkey butt heads, block flights over debt dispute

Nov 20, http://edition.cnn.com/2011/11/20/world/meast/iraq-turkey-flights/

CNN - Iraq has banned all Turkish flights from landing in the country in response to a dispute over millions of dollars owed by an Iraqi government oil company to Turkey.

Iraq, Turkey end bans on flights, open skies to other country's planes

Nov 24, http://edition.cnn.com/2011/11/24/world/meast/iraq-turkey-flights/?hpt=wo_c2

CNN - Iraq and Turkey have agreed to allow flights between their countries, ending a mutual ban that began with a dispute about how an Iraqi government oil company owed millions of dollars to Turkey, Iraqi officials said Thursday.

Iraq-Turkey air link cut by debt dispute

Nov 21, http://www.hurriyetdailynews.com/n.php?n=oil-debt-conflict-between-ankara-baghdad-threats-bilateral-trade-2011-11-21

A relatively tiny Iraqi debt to Turkey, compared with the developing mutual trade volume, has resulted in a diplomacy problem that has frozen flights between the two countries.

Iraq: Baghdad threatens ExxonMobil with contract cancellation

Nov 18, http://www.thenational.ae/business/energy/baghdad-threatens-exxonmobil-with-contract-cancellation

Baghdad is flexing its muscles as it threatens to enforce a blacklisting policy against foreign companies that sign oil contracts with the regional government in Iraqi Kurdistan.

Iraq: Bickering Over Oil and Gas Law Hurts Foreign Investment

Nov 22, http://www.rudaw.net/english/kurds/4166.html

ERBIL, Iraqi Kurdistan -- Energy experts say that foreign investors are concerned about the bickering over Iraq’s oil and gas law and may be reluctant to invest in the country’s vast natural resources until legislation is passed.

Ivory Coast urges end to 'illegal' drilling

Oct 27, http://www.upstreamonline.com/live/article285860.ece

Oil and gas authorities in the Ivory Coast have appealed for petroleum companies to stop drilling into its waters from neighbouring Ghana in a war of words over offshore territory between the two states.

Japan-Germany: Suzuki to seek int''l court''s help over row with Volkswagen

Nov 18, http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2203141&Language=en

Japan's Suzuki Motor Corp. will try to resolve a dispute over its partnership with German car giant Volkswagen AG at an international court of arbitration, a top-selling business daily here reported Friday.

Japan-Germany: Termination of the Framework Agreement regarding the Business Alliance and Cross-holding of Shares with Volkswagen AG

Nov 18, http://www.globalsuzuki.com/globalnews/2011/1118a.html

Suzuki Motor Corporation has today terminated the Framework Agreement in accordance with the terms of that agreement and has notified Volkswagen AG of such termination. Suzuki has also notified Volkswagen AG of Suzuki’s demand that Volkswagen AG transfer its Suzuki shares to Suzuki or its designated third party.

Japan-Germany: Termination of the Framework Agreement regarding the Business Alliance and Cross-holding of Shares with Volkswagen AG and Resolution of Matters regarding the Repurchase of Treasury Shares (Repurchase of Treasury Shares According to Provisions of the Articles of Incorporation Pursuant to Article 165, Paragraph 2 of the Companies Act)

Nov 18, http://www.globalsuzuki.com/globalnews/2011/1118b.html

Unless Volkswagen AG effectuates the disposition of Suzuki shares to Suzuki or its designated third party immediately, Suzuki will begin arbitration, in order to re-establish the genuine independence of Suzuki by compelling the disposition of Suzuki shares to Suzuki or its designated third party.

Japan-Germany: VW Blocks Suzuki’s Efforts to Force End to Stalled Partnership

Nov 18, http://www.businessweek.com/news/2011-11-21/vw-blocks-suzuki-s-efforts-to-force-end-to-stalled-partnership.html

Bloomberg - Volkswagen AG rejected efforts by Suzuki Motor Corp. to force an end to a two-year-old partnership that hasn’t yielded a single project.

Lack of chairs in Russian courtroom delays BP case

Nov 10, http://uk.finance.yahoo.com/news/Lack-chairs-Russian-courtroom-targetukfocus-2978257356.html?x=0

Reuters - A Russian judge decided to adjourn hearings on a $2.8 billion lawsuit against BP Plc executives on Thursday for one day, saying there were not enough chairs in the courtroom to accommodate the public.

Malta: Government denies €500 million expropriation debt

Oct 26, http://www.maltatoday.com.mt/news/2011/1026/government-denies-%E2%82%AC500-million-expropriation-debt

Parliamentary secretary for lands Jason Azzopardi has contradicted claims in General Workers Union daily l-orizzont that the €4.5 million national debt was encumbered by another €500 million in debt over public lands government had expropriated for public purposes.

Mongolia: Ivanhoe Says Ruling on Rio Arbitration Expected in December

Nov 14, http://www.businessweek.com/news/2011-11-14/ivanhoe-says-ruling-on-rio-arbitration-expected-in-december.html

Bloomberg - Ivanhoe Mines Ltd., which owns 66 percent of the Oyu Tolgoi copper and gold project in Mongolia, said a ruling in the arbitration proceedings with Rio Tinto Group over a shareholder-rights plan is expected in December.

Nepal PM Bhattarai threatens to quit over deal with India

Oct 27, http://www.indianexpress.com/news/Nepal-PM-Bhattarai-threatens-to-quit-over-deal-with-India/865753/

Nepal Prime Minister Baburam Bhattarai has threatened to resign if his party, the Unified Communist Party of Nepal-Maoists (UCPN-M), refused to endorse the Bilateral Investment Promotion and Protection Agreement (BIPPA) he signed with India recently.

Nepal-India BIPPA simplified

Oct 25, http://www.myrepublica.com/portal/index.php?action=news_details&news_id=37575

There has been a lot of buzz about Bilateral Investment Promotion and Protection Agreement (BIPPA) signed on October 21, 2011 between Nepal and India. While some political leaders have censured the government on grounds of it being "anti national", others have shied away from appreciating the signing of the agreement despite supporting the idea of BIPPA itself.

Nepal-India BIPPA in English, https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=6547 or in Nepali https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=6542

New Zealand: Sharples: let iwi veto foreign investment

Oct 31, http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10762808

A minimum wage of $16 an hour, an iwi veto on foreign investment, and a policy for state assets to remain New Zealand-owned are among the Maori Party's wishlist this election.

Nigeria-Cameroon seek funds to end border dispute

Nov 23, http://www.google.com/hostednews/afp/article/ALeqM5hYocb5LGnnjWeDRefpHcfvxKaj4Q?docId=CNG.d0e0071962fb3e6dd7f4c30ba30ff803.531

Nigeria and Cameroon on Tuesday appealed for international funds to help mark the last 250 kilometers (155 miles) of their disputed border that remains undecided, officials said.

Norway: Eltek ASA: Arbitration award Eltek Valere Pakistan

Nov 1, http://www.eltek.com/wip4/detail.epl?cat=9346&id=1131647

Eltek ASA has received the final award in an arbitration case related to the purchase of the minority shareholders 49% shareholding in Eltek Valere Pakistan in 2010, reference made to note 6 in the Report third quarter 2011 for further information.

In accordance with the outcome of the arbitration, Eltek will pay NOK 40 million for the shares including interest and costs, and an amount of NOK 31 million in excess of provisions already made by Eltek will be charged against equity in the balance sheet for the full year 2011. The payment will not affect the Income Statement.

Pak-Egypt to sign BIT, Chairman BOI

Nov 15, http://www.sananews.net/english/2011/11/pak-egypt-to-sign-bit-chairman-boi/

Said Mohamed AlSaid Hindum said that Egypt offers cent percent foreign ownership to the foreign companies in Egypt. To attract more foreign direct investments the country has introduced many meaningful steps which include consumer protection laws, establishment of new commercial courts, one-stop shops and fast track dispute resolution services for all investors.

Pakistan offers no comments to CoA (Kishanganga issue)

Oct 29, http://www.brecorder.com/fuel-a-energy/single/630/193/1246448/

Pakistan has reportedly failed to offer comments on additional technical data on the controversial 330 MW Kishanganga hydroelectric project provided by India on the instruction of International Court in The Hague (Holland).

Pakistan: Antofagasta, Barrick JV invokes arbitration on Pakistan project

Nov 29, http://www.reuters.com/article/2011/11/29/tethyan-arbitration-idUSL4E7MT0YD20111129

Reuters - Tethyan Copper (joint venture between Antofagasta and Barrick Gold) said on Tuesday it had applied for international arbitration after Pakistan's Baluchistan province rejected a mining lease application for its Reko Diq project.

Pakistan: Reko Diq Mining Lease Rejection Breaches Pakistan Law - Tethyan

Nov 18, http://in.advfn.com/news_UPDATE-Tethyan-Reko-Diq-Mining-Lease-Rejection-Breaches-Pakistan-Law_50102711.html

The Baluchistan "Licensing Authority's summary refusal to grant the Mining Licence to which TCC [Tethyan] is entitled breaches not only the Baluchistan Mineral Rules (2002), but also TCC's rights under the Chagai Hills Exploration Joint Venture Agreement (CHEJVA) and Pakistani law," the company said.

Pakistan: Tethyan Copper Company (TCC) loses battle to mine Reko Diq

Nov 18, http://www.atimes.com/atimes/South_Asia/MK18Df03.html

KARACHI - The government of Pakistan's Balochistan province has rejected an application by Tethyan Copper Company (TCC) to mine for copper and gold at the multi-billion dollar Reko Diq project after a committee formed to examine the company's feasibility report said it was incomplete. The mine and related works has the potential to be biggest foreign-financed project in the country's history.

Peru president picks fight with Telefonica over back taxes

Nov 1, http://www.totaltele.com/view.aspx?ID=468871

President Ollanta Humala's administration is in a dispute with Peru's largest telecommunications operator, Telefonica del Peru SAA, claiming the company owes back taxes worth some 2.0 billion soles ($740 million).

Philippines: Manila rejects new Chinese claim to territory just 50 miles away from Philippine province

Nov 14, http://www.washingtonpost.com/world/asia-pacific/manila-rejects-new-chinese-claim-to-territory-just-50-miles-away-from-philippine-province/2011/11/14/gIQAv3lmJN_story.html

AP - China has claimed new territory less than 50 miles (80 kilometers) from a Philippine province, boosting tensions over potentially resource-rich areas of the South China Sea, but the Philippines has dismissed the claim, an official said Monday.

Philippines: Palace hails Singapore court decision on Piatco case

Nov 19, http://www.philstar.com/Article.aspx?articleId=749731&publicationSubCategoryId=63

Malacañang has described as a victory the Singapore High Court decision denying the petition of the Philippine International Air Terminals Co. (Piatco) for compensation over the revocation of its contract to operate the Ninoy Aquino International Airport (NAIA) Terminal 3.

Philippines: PIATCo mulls legal options after setback

Nov 17, http://www.bworldonline.com/content.php?section=Nation&title=PIATCo-mulls-legal-options-after-setback&id=41853

THE LOSING party in a legal dispute to operate the country's premier airport is looking into other options after experiencing a setback, an official said yesterday, even as the government claimed it was a step to a possible takeover of the facility.

Philippines: Singapore court rules in favor of PH gov't on NAIA 3 - SolGen

Nov 16, http://www.abs-cbnnews.com/business/11/16/11/singapore-court-rules-favor-ph-govt-naia-3-solgen

The government announced Wednesday that Singapore's High Court upheld a Singapore-based arbitration panel's ruling favoring the Philippine government over the builder of the controversial Ninoy Aquino International Airport (NAIA) Terminal 3.

Poland: Is Gazprom becoming more flexible on natural gas prices?

Nov 14, http://www.wbj.pl/article-56878-is-gazprom-becoming-more-flexible-on-natural-gas-prices.html

Russian state-owned gas company Gazprom will most likely agree to a change in the way gas-import prices are calculated for German power utility RWE, Rzeczpospolita reported. The change is expected to be favorable for the German firm, with analysts seeing this as a positive sign for Polish gas monopolist PGNiG.

Report: Corporate lawsuits against governments over resource rights continue to increase.

Nov 21, http://www.ips-dc.org/reports/mining_for_profits_in_international_tribunals?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+IPS%2Flatest+%28The+Latest+from+the+Institute+for+Policy+Studies%29

Download Report:
http://www.ips-dc.org/files/3936/Mining_for_Profits_November_2011_FINAL-2.pdf
2.7 mb, 21 pages

This newly updated edition of “Mining for Profits” finds that at the most frequently used tribunal, the International Center for Settlement of Investment Disputes (ICSID), 43 of 137 pending “investor-state” cases are related to oil, mining, or gas. By contrast, one year ago there were only 32 such cases and 10 years ago there were only 3.

Rockwell Diamonds provides update on Midamines arbitration

Oct 27, http://www.rockwelldiamonds.com/rcw/NewsReleases.asp?ReportID=487293

Midamines arbitration results

Rockwell's indirect subsidiary, Durnpike Investments (Proprietary) Limited's ("Durnpike")'s interest in the Kwango River Project was constituted by an agreement ("Midamines Agreement" or "Agreement") in 2006 with Midamines SPRL ("Midamines"), the holder of the exploitation permit on the Kwango River Project. It was also agreed that Midamines would act as independent contractor on to manage and carry out exploration activities and, potentially, mining activities in a certain portion of the concession area ("Contract Area").

Under the Midamines Agreement, Durnpike agreed to make minimum royalty payments to Midamines, in return for which it undertook several obligations, including that of procuring and facilitating Durnpike's access to the Kwango River Project site. These annual royalty payments amounted to a minimum of US$1.2 million (commencing on December 31 , 2007). During the first quarter of 2008, the Midamines Agreement was amended, inter alia, giving Durnpike access to the entire concession area, as opposed to the limited Contract Area for a consideration of $0.6 million and Midamines waived its right to payment of the first royalty payment on December 31, 2007 .

During 2008, Rockwell and/or Durnpike cancelled the Agreement as a result of breach of material provisions thereof, and a dispute arose in relation to the Company's entitlement to do so. The dispute was referred to arbitration. Midamines claimed the payment of the final amount of $41.1 million , while reserving the right to increase the claim to $68.073 million . Rockwell and/or Durnpike instituted a counter-claim in the final amount of approximately $6.6 million for equipment, start-up and acquisition costs and possible lost earnings.

The Company has now received the results of the arbitration process. Rockwell and/or Durnpike were directed to pay Midamines an amount of US$ 1.2 million with each party paying its own costs. While management is disappointed at the outcome of the arbitration, having vigorously argued against the claims made by Midamines and robustly defended its position throughout the hearings, the Rockwell Board is supporting the decision to conclude the matter in line with the findings.

Commenting on the matter, Mr Campbell said "The settlement amount that has been prescribed by the agreement is a small fraction of Midamines' total claim of $48.0 million (plus interest since 2008). It will not materially impact the Company's capacity to progress with our strategic growth projects. Having reached a conclusion on this process, which demanded significant management time and attention, our executive team can now focus on implementing its diamond value management initiatives. Our primary focus is now on implementing a number of projects which we have initiated to continue improving the performance of our operations."

Romania: Sterling Resources Reaches Agreement With the Government of Romania

Oct 27, http://www.sterling-resources.com/news/2011/27-oct-2011.html

Sterling Resources Ltd. is pleased to announce, in response to statements made today by the Ministry of the Economy, Trade and Business Environment (MECMA) in Bucharest Romania, that the Company has reached agreement with the Government of Romania on a package of issues that will resolve the notice of dispute filed on June 20th, 2011. At a meeting with Minister Ariton of MECMA and the President of the National Agency of Mineral Resources (NAMR) agreement was reached to grant assignments to Sterling's designated partners, PetroVentures International Ltd. (20%) and Gas Plus (15%). In addition, the Government will confirm that all of Sterling's offshore licenses will now initially run to May 2014 with two further extension periods, each of three years in duration. The Company and NAMR now expect to finalize the administration of this resolution within 10 days.

"While we must still receive the final documentation on the agreements reached, we can confirm that meetings held today in Bucharest herald a new era in our future plans in Romania. The recent amendment to the Construction Permit Law, the granting of assignments and a resolution on our license periods will enable Sterling to resume work activities and investments in the Romanian Black Sea," stated Mike Azancot, Sterling's President and CEO.

RP, France may settle on frozen Ro-Ro deal

Oct 31, http://www.tribuneonline.org/headlines/20111031hed3.html

The Philippine and French governments have discussed the possibility of an amicable settlement over a ports development contract with a French government-owned company that was recently ordered canceled by President Aquino on allegations that the project was grossly overpriced.

Novolipetskiy metallurg. komb. OAO : NLMK WINS IN CYPRUS COURT

Nov 14, http://www.4-traders.com/NOVOLIPETSKIY-METALLURG-4005641/news/NOVOLIPETSKIY-METALLURG-KOMB-OAO-NLMK-WINS-IN-CYPRUS-COURT-13889671/

On November 14, 2011 the Nicosia (Cyprus) Court ruled in favor of NLMK, withdrawing the case and canceling the arrest that had been placed over the property of Novexco (Cyprus), NLMK's affiliated trading company, in September 2011 based on a claim from Nikolay Maximov, for a total of approximately EUR30 million.

Russia Says Still No Gas Deal With Ukraine

Nov 16, http://online.wsj.com/article/BT-CO-20111116-708665.html

Russia says no new gas deal with Ukraine; Risk of gas cut to Europe slim; Ukraine seeks lower gas price to resume IMF bailout program

Russia, Algeria May Jointly Defend Europe Gas Contracts, RT Says

Nov 15, http://www.bloomberg.com/news/2011-11-15/russia-algeria-may-jointly-defend-europe-gas-contracts-rt-says.html

Russia and Algeria may work together to defend long-term contracts for natural-gas supplies to Europe, Russian Energy Minister Sergei Shmatko told Russian television station RT in an interview. Shmatko said he discussed arbitration between European consumers and OAO Gazprom with his Algerian counterpart at a meeting of the world's biggest gas exporters in Doha this week, according to the report. Algeria faces the same problem as Russia, Shmatko told RT.

Russia-Germany: E.ON Ruhrgas: Long-term Contract Talks Ongoing With Gazprom

Nov 8, http://www.foxbusiness.com/industries/2011/11/08/eon-ruhrgas-long-term-contract-talks-ongoing-with-gazprom/

Dow Jones - The natural gas unit of German utility E.ON AG is still in talks with its largest supplier [OAO Gazprom] in an effort to adjust commercial terms of long-term supply contracts, a company official said Tuesday.

Russia-Germany: Gazprom Seeks German Gas Dispute Resolution as Price Gap Narrows

Nov 9, http://www.businessweek.com/news/2011-11-09/gazprom-seeks-german-gas-dispute-resolution-as-price-gap-narrows.html

Bloomberg - OAO Gazprom, Russia's gas export monopoly, said it may find a solution to its a dispute with German customers seeking to lower fuel prices as the gap between its long-term contracts and European forwards narrow.

Russia: Alfa, Telenor keep Vimpelcom agreement until tribunal

Nov 24, http://af.reuters.com/article/commoditiesNews/idAFL5E7MO0G520111124

Reuters - Russian group Alfa and Norwegian operator Telenor will abide by their agreement as shareholders in Russian telecoms group Vimpelcom until an arbitration panel rules whether Alfa's move to end the deal was legal.

Russia: Khodorkovsky says he invested in company and didn't have yachts or diamonds

Nov 9, http://www.kyivpost.com/news/russia/detail/116479/

MOSCOW - Former owner of the now defunct Yukos oil company Mikhail Khodorkovsky said he had never owned luxury yachts, palaces or diamonds.

Russia: MAXI-Group founder appeals reversal of $308 mln award from NLMK

Nov 11, http://en.infosud.ru/judicial_news/20111111/257259543.html

RAPSI, Natalia Belova. MAXI-Group founder Nikolai Maximov has appealed to the Supreme Court for a reconsideration of lower courts' judgments overruling the arbitration tribunal's decision to award him over $308 million from Novolipetsk Iron & Steel Corporation (NLMK), the court told the Russian Legal Information Agency (RAPSI).

Russia: Minnows attempt to void Tele2 licences

Nov 15, http://www.telegeography.com/products/commsupdate/articles/2011/11/15/minnows-attempt-to-void-tele2-licences/

Two Russian regional mobile operators - Strimton and Geocom - have filed a lawsuit with the Moscow Arbitration Court, with a view to cancelling five 1800MHz GSM licences held by Tele2, covering 18 regions of the country.

Russia: New partner for future floating Nuclear plants

Nov 25, http://www.world-nuclear-news.org/-NN_New_partner_for_future_floating_plants_251111a.html

On the subject of Russia's first floating nuclear power plant, Akademik Lomonosov, Zavyalov pointed out that while the time frame for finishing construction had been pushed back by up to 20 months, this was outside of Rosenergoatom's control. The vessel was seized by the Court of Arbitration of St Petersbug in August as part of bankruptcy procedings against the Baltiysky Zavod shipyard, which as a partner in construction was also in possession of the ship. The shipyard's owners claimed not to have received all the payments they were owed for the craft.

Russia: Novolipetskiy metallurg. komb. OAO : NLMK wins in Amsterdam Court

Nov 17, http://www.4-traders.com/NOVOLIPETSKIY-METALLURG-4005641/news/NOVOLIPETSKIY-METALLURG-KOMB-OAO-NLMK-WINS-IN-AMSTERDAM-COURT-13897939/

On November 17, 2011 the Amsterdam Court ruled in favor of NLMK, dismissing Maximov's request for leave to enforce the arbitral award of the ICAC (Moscow) dated March 31, 2011, that was annulled by the decision of the Moscow Arbitration Court in April 2011.

Russian court rejects lawsuit against BP execs

Nov 11, http://www.reuters.com/article/2011/11/11/us-tnkbp-court-idUSTRE7AA0PO20111111

Reuters - A Siberian court has rejected a $2.8 billion lawsuit filed by minority shareholders in Russia's No.3 oil firm TNK-BP against board members nominated by the firm's British shareholder BP, a BP lawyer said on Friday.

Ukraine, Russia agree on new gas price

Nov 16, http://www.reuters.com/article/2011/11/16/ukraine-russia-gas-idUSL5E7MG19720111116

Reuters - Ukraine and Russia have agreed the new price of Russian gas supplies, Interfax news agency reported on Wednesday citing a government source, a move that could help Kiev to regain access to a $15 billion International Monetary Fund programme.

Ukraine: Stockholm Arbitration Tribunal postpones ruling on Vanco PSA

Nov 9, http://www.ukrainianjournal.com/index.php?w=article&id=13493

The Stockholm Arbitration Tribunal has put off until December 31 hearings on a case on the renewal of licenses owned by Vanco Prykerchenska Ltd (the British Virgin Islands) for the development of the Prykerchenska oil and gas field on the Black Sea shelf and a production sharing agreement.

Singapore aims to be at the forefront of international arbitration

Nov 1, http://www.todayonline.com/Singapore/EDC111101-0000459/Singapore-aims-to-be-at-the-forefront-of-international-arbitration

Law and Foreign Affairs Minister K Shanmugam today said Singapore intends to be at the "leading edge of thinking in international arbitration".

South Africa: Economists hail Malema verdict

November 10, http://www.sabc.co.za/news/a/25a7958049038fc2b0b8f7a2b4913637/Economists-hail-Malema-verdict-20111110

Economists have hailed the ANC's verdict on Julius Malema, saying it's good for the economy. Malema had rattled investors in the past with talks of nationalisation and land expropriation. The rand firmed slightly after the Luthuli House announcement.

South Africa: Expropriation Bill heads back to legislature

Oct 25, http://www.legalbrief.co.za/article.php?story=20111025103043615

The Expropriation Bill has been reviewed and is on its way back to Parliament, Mandla Mabuza, acting Director-General in the Department of Public Works, has told Parliament's Public Works Committee.

South Korea: GNP primed to vote on FTA Thursday

Nov 7, http://www.koreaherald.com/national/Detail.jsp?newsMLId=20111107000756

"The Korea-U.S. FTA is a matter of national interest and of paramount importance; we can no longer tolerate the opposition's approach (to the FTA) out of partisan interests," GNP spokesman Kim Ki-hyun said in a briefing after the party's supreme council meeting Monday.

South Korea: Opposition parties again vow to block U.S. FTA bill

Oct 28, http://www.koreaherald.com/national/Detail.jsp?newsMLId=20111028000833

Five opposition parties on Friday reiterated their vehement disapproval of the free trade pact with the U.S., saying they would mobilize "all possible means" to block its parliamentary passage.

Spain: Green Speculators Seek Compensation For Spanish Solar Cuts

Nov 17, http://www.thegwpf.org/international-news/4363-bad-luck-green-speculators-seek-compensation-for-spanish-solar-cuts.html

Finacial Times reports that a group of foreign energy investors is seeking arbitration in a dispute with the Spanish government over Madrid's unexpected cuts in solar energy tariffs last year - only the second case of its kind taken up against a western European government.

Sri Lanka BOI deletes page promising freedom from expropriation

Nov 11, http://www.lankabusinessonline.com/fullstory.php?nid=199486876

LBO - ... deleted web page also promised settlement of disputes under the International Convention for the Settlement of Investment Disputes (ICSID) and said investors "may also refer disputes for arbitration under the rules of the International Chamber of Commerce."

Sri Lanka clears court hurdle for expropriation law

Nov 8, http://www.lankabusinessonline.com/fullstory.php?nid=1735305570

LBO - Sri Lanka's Supreme Court has said a draft law to expropriate assets of some three dozen private enterprises is consistent with the island's constitution in a determination read out by the deputy speaker in the island's parliament.

Sri Lanka court decision on expropriation law expected soon: reports

Oct 27, http://www.lankabusinessonline.com/fullstory.php?nid=1303223051

LBO - A court decision is expected shortly on a proposed law in Sri Lanka to expropriate assets of citizens which are deemed as 'underutilized' by the state about which little information is publicly known, reports said.

Sri Lanka passes expropriation law, despite protests

Nov 9, http://www.lankabusinessonline.com/fullstory.php?nid=1103249724

LBO - Sri Lanka passed a law to expropriate assets of dozens of enterprises despite protests from trade chambers, religious and opposition groups who warned that it will scare off investors.

Sri Lanka's large chambers want expropriation bill deferred

Nov 8, http://www.lankabusinessonline.com/fullstory.php?nid=2126281271

LBO - Sri Lanka's large business chambers have urged the state to defer a hastily drawn up law to expropriate three dozen business ventures which has drawn fire from many quarters.

Sri Lanka: British shareholder to challenge govt

Nov 19, http://www.dailymirror.lk/news/14855-british-shareholder-to-challenge-govt.html

A British company, which is an investment partner of Sevenagala Sugar Industries Ltd has decided to challenge the government’ expropriation bill at the World Bank-affiliated Investment Dispute Settlement Unit in Washington, sources close to the United National Party (UNP) said yesterday.

Sri Lanka: Sri Lanka Supreme Court rejects four petitions against the Expropriation Act

Nov 16, http://www.colombopage.com/archive_11B/Nov16_1321421633JR.php

Sri Lanka's Supreme Court has rejected four petitions filed against the recently passed legislation on the revival of underperforming and underutilized assets.

Sri Lanka: The Expropriation Act not applicable to Pelwatte Sugar, Sri Lanka Treasury Secretary told

Nov 23, http://www.colombopage.com/archive_11B/Nov23_1322025575CH.php

Pelwatte Sugar Industries Ltd. slated to be taken over by the government under the recently passed Revival of Underperforming Enterprises and Underutilized Assets Act says the provisions of the Act are not applicable to the land given to the company.

Swaziland: SPTC, MTN battle referred to Geneva

Nov 15, http://www.observer.org.sz/index.php?news=32249

THE arbitration on the issues between the Swaziland Posts and Telecommunications Corporation (SPTC) and MTN has been sent to Geneva, where specialists in the telecommunications industry are based.

Sweden-Germany: Vattenfall to contest nuclear phaseout

Nov 2, http://www.thelocal.de/national/20111102-38595.html

Swedish energy giant Vattenfall is reportedly preparing to take the German government to the Washington-based International Centre for Settlement of Investment Disputes over the closure of its nuclear power plants.

Swiss mediators hope Russia can join WTO this year

Oct 30, http://uk.reuters.com/article/2011/10/30/uk-russia-wto-idUKTRE79T1KL20111030

Reuters - Swiss mediators said on Sunday they hoped Russia could reach a deal with Georgia and join the World Trade Organisation (WTO) as early as December after 18 years of negotiations, and Moscow said the final hurdles could be overcome "within hours".

Taiwan Ratifies Investment Agreement With Japan

Nov 25, http://www.tax-news.com/news/Taiwan_Ratifies_Investment_Agreement_With_Japan____52667.html

The agreement, which is the first signed between Taiwan and one of its major trading partners, and should now enter into effect shortly, is also hoped by the Taiwanese government to be the forerunner of a trade treaty between the two countries.

Tanzania: Activists - Saturday's demo over Dowans on

Oct 27, http://www.ippmedia.com/frontend/index.php?l=34771

Activists have vowed to hold a peaceful demonstration this Saturday to put pressure on the government not to pay Dowans Tanzania Limited and Dowans Costa Rica USD 65 million (112bn/-) as ordered by the International Chamber of Commerce (ICC) Tribunal.

Tanzania: After Dowans, MPs now eye Pan African energy

Nov 20, http://www.ippmedia.com/frontend/index.php?l=35574

Alarmed by the contents of the Parliamentary report tabled on Friday this week, which nailed the Pan African energy, legislators now want the multibillion shillings gas contract to be terminated.

Thailand: Award in the arbitration matter between Thai Bitumen Company Limited (TIPCO) and Glencore Singapore

Sep 23, http://www.tipco.co.th/tipco/upload/investor_set/eng/Glencore%2023Sep11Eng.pdf

The Jerusalem Arbitration Center

Nov 14, http://www.iccisrael.co.il/node/312

While political relations between Israelis and Palestinians remain strained, both sides continue to engage in active and relatively large-scale bilateral trade, primarily motivated by geographical proximity and respective economic advantages. Conservative estimates place annual trade figures at between 3-4 billion USD, although actual figures could be significantly higher.

TNK-BP minorities file new suit against BP

Nov 3, http://www.marketwatch.com/story/tnk-bp-minorities-file-new-suit-against-bp-2011-11-03

A group of minority shareholders in BP PLC's (BP) Russian joint venture TNK-BP Holding (TNBP.RS), who are claiming $13 billion in damages from the U.K. oil major, have filed a new law suit to have a recent vote by the TNK-BP's board declared illegal.

Transparency International Bribe Payers Index

Nov 1, http://bpi.transparency.org/

Bribing public officials when doing business abroad is a regular occurrence, according to a survey of 3,000 business executives from developed and developing countries.

Trinidad and Tobago: Govt seeks $1.5B for OPVs

Oct 26, http://www.newsday.co.tt/news/0,149557.html

THE STATE has spent a total of $4.7 million in legal costs to pursue a claim for $1.5 billion in damages in arbitration proceedings for the cancelled offshore patrol vessels (OPVs), Minister of National Security Brigadier John Sandy said yesterday.

U.S. Universal Trading & Investment Co. (UTICo) $18.3 mln lawsuit against Tymoshenko filed in U.S. court

Nov 17, http://en.infosud.ru/judicial_analyst/20111117/257459658.html

RAPSI - The U.S. Universal Trading & Investment Co. (UTICo), which has been seeking to collect over $18.3 million from United Energy Systems of Ukraine (UESU), has filed a complaint against former Ukrainian Prime Minister Yulia Tymoshenko in the U.S. District Court for the Southern District of New York.

Uganda: $900m at stake as Uganda battles oil companies

Oct 30, http://www.theeastafrican.co.ke/news/+900m+at+stake+as+Uganda+battles+oil+companies+/-/2558/1264406/-/r8if9v/-/

Uganda faces the prospect of losing $900 million in hard currency, a huge embarrassment for the counry's bureaucrats should the ongoing tax dispute before the International Court of Arbitration in London be ruled in favour of oil prospectors Tullow and Heritage Oil.

Uganda: Executive set to defy MPs over Uganda oil deals

Nov 6, http://www.theeastafrican.co.ke/news/Executive+set+to+defy+MPs+over+Uganda+oil+deals+/-/2558/1268004/-/7i93tx/-/

Caught off guard by last month's resolution by parliament to freeze transactions in the oil sector, technocrats in Uganda's government are now planning to disregard the legislature and force through the impending farm down by Tullow to two partners, French oil giant Total and the China National Offshore Oil Company CNOOC.

Uganda: Govt Set to Approve $2.9 Billion Tullow Oil Deal

Nov 17, http://allafrica.com/stories/201111171014.html

Uganda is poised to give final approval to Tullow Oil's $2.9bn sale of stakes in one of Africa's most promising oil prospects to France's Total and China's Cnooc, spurring a project which a tax dispute and corruption allegations have long threatened to derail.

Uganda Revenue Authority (URA) wins tax case against Heritage Oil

Nov 24, http://www.monitor.co.ug/News/National/-/688334/1278202/-/bgq382z/-/

Uganda Revenue Authority has won a case against Heritage Oil and Gas Limited after the Tax Appeals Tribunal yesterday dismissed the oil company’s contest against paying capital gains tax to the tune of Shs1.1 trillion. The panel dismissed with costs an appeal filed by Heritage Oil challenging the tax body’s decision to slap a $404 million income tax assessment after the company sold its 50 per cent stake of exploration rights.

Uganda: Heritage Oil Provides an Update on Ugandan Tax Dispute

Nov 24, http://www.heritageoilplc.com/resource/nig57f6kcnv0gejmufbirhz9.pdf

Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, has considered the ruling dated 23 November 2011 of the Tax Appeals Tribunal in Uganda dismissing the application of its wholly-owned subsidiary Heritage Oil & Gas Limited ("HOGL"). HOGL had challenged the Ugandan tax assessments on the disposal of HOGL's entire interests in Blocks 1 and 3A to Tullow Uganda Limited in July 2010 (the "Sale").

HOGL has at all times disputed the jurisdiction of the Ugandan Courts and Tribunals, in view of the existence of valid and binding arbitration provisions in its Production Sharing Agreements ("PSAs") with the Government of the Republic of Uganda ("Government"). Furthermore, in the light of specialist advice received in Uganda, North America and the United Kingdom, Heritage and HOGL remain of the view that no tax was due or owing on the Sale. HOGL initiated arbitration proceedings in London with Government in May 2011 and has always maintained that this is the correct forum to settle disputes relating to the Sale.

As a result of the actions of the tax authorities in Uganda, HOGL and its advisers consider that it was compelled to take part in the Ugandan domestic process before the Tax Appeals Tribunal, notwithstanding HOGL's belief that arbitration, which is ongoing in London, is the correct forum to settle such disputes. The ruling from the Tax Appeals Tribunal in Uganda is part of the domestic process and is not final and determinative. HOGL will appeal the ruling, which it believes is fatally flawed in many respects, through the Ugandan court system commencing with the High Court and subsequently the Court of Appeal and Supreme Court if necessary.

Paul Atherton, Chief Financial Officer, commented:

"Given the publicity this case has generated in Uganda, it was always going to be difficult for the tribunal to rule against Government but we believe firmly in our position that no tax was due in Uganda as a result of the sale of Blocks 1 and 3A. We instigated arbitration in London as provided for in the PSAs as we consider this to be the appropriate avenue and that process is ongoing. We will also continue to vigorously pursue all legal forums open to us against this fundamentally flawed ruling."

Uganda: Heritage to appeal against Uganda Tax Tribunal ruling

Nov 25, http://www.newvision.co.ug/news/30280-heritage-to-appeal-against-uganda-tax-tribunal-ruling.html

UK based Oil Company Heritage has said it will appeal the ruling of the Uganda Tax Appeals Tribunal against it.

UK asks Pakistan to resolve income tax issue

Nov 29, http://tribune.com.pk/story/299103/oil-and-gas-exploration-uk-asks-pakistan-to-resolve-income-tax-issue/

The United Kingdom on Monday urged Pakistan to resolve the longstanding issue of income tax on British oil and gas exploration companies, cautioning any further delay may hurt foreign investment in the country.

UK Judge: Criminal-case mediation 'by 2020'

Oct 27, http://www.lawgazette.co.uk/news/criminal-case-mediation-2020

Compulsory mediation of civil disputes and mediation of criminal cases could be introduced in the UK by 2020, a High Court judge has suggested.

UK: Commercial Litigation Funding Limited Launches Arbitration Funding Facility

Oct 30, http://www.litfunding.co.uk/commercial-litigation-funding-news/112-clfl-launches-arbitration-funding

London-based Commercial Litigation Funding Limited (CLFL) has recently launched a specialist provision to facilitate arbitration funding for cases across the country.

Developed in collaboration with its global law firm clients, the funding facility was set up by CLFL in September 2011 to provide clients with specialist Legal Due Diligence work in advance of arbitration cases. With its in house experience and in conjunction with a panel of specialists, CLFL's expertise in securing funding for these cases often unlocks the ability for lawyer and client to continue towards resolution of a particular dispute.

UK: London court dismisses Deripaska company's appeal in dispute with BNP Paribas

Nov 25, http://en.infosud.ru/judicial_news/20111125/257627630.html

BNP Paribas requested the London High Court of Justice to prohibit the Russian companies from hearing the dispute at other courts including Russian courts as stipulated by the arbitration agreement between the bank and the Russian Machines company.

http://www.bailii.org/ew/cases/EWHC/Comm/2011/308.html

UK: The United Kingdom welcomes this report on the International Law Commission's sixty-third session

Oct 26, http://ukun.fco.gov.uk/en/news/?view=PressS&id=676818582

I would like to thank the Chairman of the Commission for his report to the Sixth Committee. The United Kingdom welcomes this report on the ILC's sixty-third session; and extends its congratulations to the Commission for a very successful final year of the quinquennium which has seen the completion of three important topics, and substantial progress made on other topics and matters.

...

Moving to the next proposed topic, the meaning of "fair and equitable treatment" is a more controversial topic in international investment law than the meaning of the "most-favoured-nations clause" which is the subject of an ongoing study by the Commission. Indeed, there is a real disparity of views between States and amongst academics on what "fair and equitable treatment" means in the context of investment treaties. Whilst it is understandable to wish to bring clarity to the meaning of a legal term that is subject to differing interpretations by tribunals it is the United Kingdom's view that application of the fair and equitable treatment standard is necessarily dependent on the specific facts of the case and that it would be difficult and potentially undesirable to attempt to define a taxonomy of its component elements

The United Kingdom is also conscious of the fact that there have already been other studies on the meaning of the term (e.g. the OECD Studies of 2004 and 1984, and the UNCTAD Study of 1999). We therefore have reservations, even if further work were to be commissioned on this topic, whether the ILC would be the appropriate body to undertake it rather than those more specialised international bodies dealing with investment issues that have already considered the matter.

UN Principles on Business and Human Rights: Interview with John Ruggie

Oct 30, http://business-ethics.com/2011/10/30/8127-un-principles-on-business-and-human-rights-interview-with-john-ruggie/

In July 2011, the United Nations Human Rights Council endorsed a set of principles designed "to ensure that companies do not violate human rights in the course of their transactions and that they provide redress when infringements occur." The ground-breaking Guiding Principles on Business and Human Rights outline how nation states and businesses should implement the UN's "Protect, Respect and Remedy" Framework in order to better manage business and human rights challenges.

US calls Obama-CFK meeting 'warm,' but says Argentina must cancel debt

Nov 9, http://www.buenosairesherald.com/article/84136/us-calls-obamacfk-meeting-warm-but-says-argentina-must-cancel-debt

"I don't agree with those who say that we're punishing Argentina. I would say the US government is encouraging Argentina to settle its disputes with bondholders within the ICSID, and take any necessary steps to completely normalize the situation with its debtors," spokesman of the Department of State Mark Toner said.

US-Africa: U.S. in 'Quick Wins' Push to Expand Trade With Region

Nov 14, http://www.menafn.com/qn_news_story.asp?storyid=%7Bad424ed9-c357-4173-8d9d-3beeb45ffa51%7D

THE US has initiated negotiations with the East African Community, seeking a full-scale free trade treaty, an Obama administration top trade official for Africa said last week.

US: A Foreign Investor Fights To Go To FINRA Arbitration

Nov 1, http://www.onwallstreet.com/ows_issues/2011_11/a-foreign-investor-fights-to-go-to-finra-arbitration-2675730-1.html

A federal lawsuit recently filed by Citigroup Global Markets Inc. against a set of Saudi family investors with a $383 million claim against the firm will determine whether that case can proceed to arbitration.

US: Dyadic International Announces Arbitration Decision

Nov 28, http://www.dyadic.com/wt/dyad/pr_1322516638

Dyadic International, Inc., a global biotechnology company focused on the discovery, development, manufacture and sale of enzyme and protein products for the bioenergy, industrial enzyme and biopharmaceutical industries, announced today that the arbitration tribunal has found no auditor negligence in handing down a decision which denies Dyadic any recovery in its professional negligence/malpractice action against its former auditors, Ernst & Young LLP and Ernst & Young Hong Kong L.P.

This arbitration decision originates from the lawsuit filed by Dyadic in the spring of 2009 against its former auditors and outside legal counsel. The portion of the lawsuit against the auditors subsequently became subject to arbitration in connection with the services provided to Dyadic by such auditors from 2002 to 2008.

The remainder of this lawsuit against Dyadic’s former outside legal counsel is proceeding in Florida state court against the law firms Greenberg Traurig, Bilzin Sumberg, Moscowitz & Moscowitz and Jenkens & Gilchrist. Also named as defendants in this lawsuit are attorneys Robert I. Schwimmer, who represented Dyadic while at Jenkens & Gilchrist and later at Greenberg Traurig, and Norman and Jane Moscowitz of the Moscowitz & Moscowitz law firm. Dyadic’s claims against its former outside legal counsel include breach of fiduciary duty and professional negligence and also civil conspiracy with respect to Greenberg Traurig and Mr. Schwimmer.

The information in this press release is made solely by Dyadic and neither the arbitration tribunal, Ernst & Young LLP nor Ernst & Young Hong Kong L.P. have reviewed, commented on, or approved this press release.

US: NY court rejects challenge to arbitration award

Nov 15, http://www.cbs6albany.com/news/radio-1288954-arbitration-challenge.html

New York's top court has rejected a challenge to an arbitration award in a contract dispute that claimed former FBI Director William Sessions, chairman of the arbitration panel, was biased.

US: PetroMagdalena acquires additional interest in Arrendajo and Settles With Beta Energy

Nov 24, http://www.alaskadispatch.com/article/petromagdalena-acquires-additional-interest-arrendajo-and-settles-beta-energy

Beta Settlement

The Company has entered into a settlement agreement with Beta Energy Corp. in respect of two arbitration disputes involving (i) the ownership of one 750 HP drilling rig and one service rig, and (ii) a master services contract for drilling rigs. In accordance with the settlement agreement, the parties have terminated all ongoing arbitration and all present and future claims have been settled in full; as well, all contracts with Beta have also been terminated. The Company plans to mobilize the 750 HP drilling rig, currently stacked on the Cubiro block, to drill the Yopo exploration well in December of this year, under an operation contract with a Colombian drilling services provider.

PetroMagdalena paid certain amounts owing to Beta in exchange for the undisputed ownership of both rigs. The Company also obtained full indemnity from Beta for any and all claims by third parties.

US: Senecas will seek arbitration in dispute with state over gambling compact, casino fund sharing

Nov 3, http://www.buffalonews.com/incoming/article618366.ece

Seneca Nation leaders accused the administration of negotiating in bad faith and will ask for arbitration to resolve a bitter dispute that has halted $333 million in casino revenue payments to the state and several Western New York communities.

US: Setback for Infosys? No arbitration in H-1B visa misuse case

Nov 10, http://timesofindia.indiatimes.com/tech/news/software-services/Setback-for-Infosys-No-arbitration-in-H-1B-visa-misuse-case/articleshow/10678626.cms

BANGALORE - In what could be a major setback for Infosys Ltd, a US Federal judge has ruled that the Jack Palmer case would not go for arbitration.

US: Western Digital Corp. reports arbitration decision - Company will Challenge the Award

Nov. 21, http://www.wdc.com/en/company/pressroom/releases.aspx?release=dbcf108a-d7b3-43b3-9f8b-79afa7ed222c

Western Digital Corp. today reported that on November 18, 2011, an arbitration award of $525 million was rendered against the company by a sole arbitrator in a pending confidential arbitration action in Minnesota. The amount of the award does not include prejudgment interest, which will be subsequently determined. The award involves claims brought by Seagate Technology LLC against WD and one employee who was formerly employed by Seagate, alleging misappropriation of confidential information and trade secrets.

"We do not believe there is any basis in law or fact for the damage award of the arbitrator," said John Coyne, president and chief executive officer. "We believe the company acted properly at all times and we will vigorously challenge the award. This does not affect our ability to conduct our operations, to complete the recovery and recommencement of our Thailand operations or, subject to obtaining the required regulatory approvals, to consummate our planned acquisition of Hitachi GST."

Venezuela calls on UN to end US embargo on Cuba

Oct 28, http://presstv.com/detail/207038.html

Venezuela has showed discontent over the U.S. and Israel's decision to vote against lifting the trade embargo on Cuba before the United Nations, an action that he called cynical. For Chavez, the overwhelming agreement of 186 countries to adopt the UN's twentieth consecutive resolution for the end to the measures is something that cannot be ignored.

Venezuela: Bank Owner Suing Venezuelan Government for US$ 1 Billion

Nov 15, http://venezuelanalysis.com/news/6634

Nelson Mezerhane, president of Banco Federal, which the Venezuelan government expropriated last year for failing to have minimum liquid assets, is suing the government through a US court, claiming the bank was "illegally seized for political reasons".

Venezuela: Crystallex Announces Proposed Private Placement to Raise Up to US$120 Million

Oct 11, http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2011/Crystallex-Announces-Proposed-Private-Placement-to-Raise-Up-to-US120-Million1126858/default.aspx

Crystallex International Corporation is pleased to announce that a wholly-owned subsidiary (the "Issuer") proposes to complete a best efforts private placement offering (the "Offering") of up to 120,000 units (the "Units") at a price of US$1,000 per Unit for aggregate proceeds of up to US$120 million. Each Unit will consist of one face value US$1,000 principal amount senior secured note (the "Notes") bearing simple interest at a rate per annum to be determined payable on maturity or redemption and one contingent value right (the "CVRs"). The initial maturity date of the Notes will be five years following the date of issue, subject to extension in certain circumstances. The obligations under the Notes and CVRs will be secured by the Issuer and guaranteed by the Company. Macquarie Capital (USA) Inc., GMP Securities L.P. and Byron Capital Markets Ltd. are acting as co-lead agents for the Offering.

The CVRs will be a contractual right to receive one or more payments, each of which is contingent upon receipt of funds (a "CVR Payment Event") by Crystallex pursuant to either an award or settlement (in each case, an "Award or Settlement") in respect to the arbitration between Crystallex and the government of Venezuela relating to the Las Cristinas gold project in Venezuela (the "Arbitration"). Each CVR will represent a right to receive a pro rata interest in a cash payment (a "CVR Payment") equal to a percentage (to be determined) of the applicable Award or Settlement, after deducting certain costs and expenses including applicable taxes, costs relating to the Arbitration and an amount equal to the principal amount of the Notes plus accrued interest. If a CVR Payment Event occurs prior to the date that is five years following the date of issue of the Units, the Notes will be cash collateralized and accrued interest will then be due and payable to the holders of the Notes to the extent of the available cash. Immediately following the cash collateralization of the Notes and the payment of all accrued interest thereon, the interest rate per annum on the Notes will be reduced to equal the yield earned on the cash collateral. On payment in full of all required CVR Payments, the Notes will be redeemed at a redemption price equal to the principal amount of the Notes plus accrued and unpaid interest.

The net aggregate proceeds of the Offering will principally be used (i) to repay in full the US$100 million principal amount outstanding with respect to Crystallex's 9.375% senior unsecured notes due December 23, 2011 and any accrued and unpaid interest thereon; and (ii) for certain general and corporate purposes of the Company and the Issuer.

The completion of the Offering is subject to, among other things, the receipt of all regulatory approvals and consents as are necessary or appropriate in the circumstances prior to the closing of the Offering and the entering into of a formal agency agreement among Crystallex, the Issuer and the agents. Closing of the Offering is expected to occur on or about October 28, 2011, or such later date as agreed among the parties.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from such registration requirements. This Press Release is not an offer of securities for sale in the United States.

VENEZUELA: Government Distributes Land to Yukpa Indians

Oct 26, http://ipsnews.net/news.asp?idnews=105598

IPS - The Venezuelan government's decision to expropriate 25 ranches to distribute 15,800 hectares of land to communities of Yukpa Indians in the northwest of the country partially makes up a long-standing debt to the native group.

Venezuela: Hugo Chavez accuses Parmalat of hoarding Venezuela milk

Nov 28, http://timesofindia.indiatimes.com/world/europe/Hugo-Chavez-accuses-Parmalat-of-hoarding-Venezuela-milk/articleshow/10899096.cms

AFP - Venezuelan President Hugo Chavez on Sunday accused Italy's Parmalat of "monopolizing" milk supplies and threatened it with expropriation after 210 tons of powdered milk were found in a warehouse.

Venezuela: Hugo Chávez looks to take Venezuela's private Los Roques paradise public

Nov 5, http://www.csmonitor.com/World/Americas/2011/1105/Hugo-Chavez-looks-to-take-Venezuela-s-private-Los-Roques-paradise-public

Hugo Chávez said he intends to seize yachts and private property in Los Roques, a popular tourist archipelago off Venezuela's coast, worrying owners and tourists about the resort's fate.

Venezuela: ICSID registers new arbitration proceeding against Venezuela - The complaint was filed by Hortensia Margarita Shortt

Nov 23, http://www.eluniversal.com/economia/111123/icsid-registers-new-arbitration-proceeding-against-venezuela

Hortensia Shortt was a member of the board of directors of Zulia Towing and Barge Company, which provides towing services for docking and undocking of oil and petrochemical tankers and boats used for lake transportation. This company was affected by the Law on the Expropriation of Primary Activities for Oil Production.

Viet Nam: Investment law hinders business, needs to be removed - Lawyer

Nov 14, http://english.vietnamnet.vn/en/business/15286/lawyer--investment-law-hinders-business--needs-to-be-removed.html

VietNamNet Bridge - The currently applied 2005 Investment Law comprises some overlapping, contradictory and confused provisions, which is the combination of the provisions of other laws. Therefore, it needs to be removed, according to Lawyer Cao Ba Khoat, former Member of the Government's Taskforce in charge of supervising the implementation of the Enterprises Law.

Volkswagen: There is no legal foundation whatsoever obliging us to surrender our shares to Suzuki

Nov 24, http://www.inautonews.com/volkswagen-there-is-no-legal-foundation-whatsoever-obliging-us-to-surrender-our-shares-to-suzuki

Volkswagen Ag., on Thursday in an emailed statement said the company will continue to hold its stake in Suzuki Motor Corp., even if the Japanese automaker started the international arbitration procedures in a try to buy back its 20 percent stake.

White & Case to represent the Philippines in arbitration with Belgian dredger Baggerwerken Decloedt en Zoon

Nov 14, http://www.philstar.com/Article.aspx?articleId=747921&publicationSubCategoryId=64

The Office of the Solicitor General has picked US law firm White & Case to represent the Philippines in arbitration with a Belgian dredger. The firm was chosen from a shortlist of five lawyers experienced in cases before the International Centre for Settlement of Investment Disputes in Washington DC. Only state bar exam passers may practice law in the US.

Zimbabwe: Nationalism Grips World's Mines

Nov 24, http://allafrica.com/stories/201111240959.html

[The Herald is published by the government of Zimbabwe] Although the Zimbabwean indigenisation programme has taken some beating from sections of the international community, it appears now that the trend towards nationalising critical mineral resources is taking common feature in other countries across the globe. ... At least 11 countries from Australia to Ecuador have this year raised or revealed plans to increase taxes or royalties on sales of resources such as gold and coal, according to Deutsche Bank AG.

PODCASTS

IDN Podcast No. 101--William Ury on Negotiating Toward a Better World

Nov 23, http://cpradr.org/Resources/ALLCPRArticles/tabid/265/ID/736/IDN-Podcast-No-101-William-Ury-on-Negotiating-Toward-a-Better-World-Nov-23.aspx

Summary: Negotiation legend William Ury joins International Dispute Negotiation host Michael McIlwrath for the first of two parts.

EVENTS

2024

April 2024

  • CIArb Virtual Diploma in International Maritime Arbitration (Booking deadline: 31 January 2024)
    With maritime arbitrations on the rise, build your knowledge now! The scale, diverse range and complexity of maritime arbitrations coupled with an increase in arbitral systems means that it is essential to have the right knowledge and skills to navigate this field. Ciarb’s highly popular Virtual Diploma in International Maritime Arbitration will provide you with this and more! Join international dispute resolution specialist George Lambrou FCIArb for this Diploma, delivered virtually from 3 April 2024 to 26 June 2024, on Wednesdays for two and a half hours.
    3 April 2024 - 26 June 2024. Online,
    More information is available at the organisers website

May 2024

  • Pakistan International Disputes Weekend (PIDW)
    South Asia's premiere legal conference for 'reviewing, reflecting and reviving' the landscape for dispute resolution. The conference is organized annually in Pakistan by international construction law firm MK Consultus. Bringing together international dispute resolution experts, government representatives, serving members of Pakistan's judiciary, Legal 500 firms, international ADR Centres and global masters of the trade in South Asia's emerging economic corridor, PIDW has revitalized the ADR sector in Pakistan, contributing significantly to the discourse regarding reform.
    11 May 2024 - 12 May 2024. Karachi, Pakistan,
    More information is available at the organisers website
  • 4th Edition Executive Course on International Arbitration - King's College London (Application deadline: 03 May 2024)
    [Application deadline: 03 May 2024] Join leading global arbitration experts for King’s College London’s Executive Course on International Arbitration, online, starting on 17 May 2024. Develop your skills and grow your network with this CPD accredited course. Learn the key elements of practice, from drafting effective arbitation agreements to enforcing arbitral awards around the globe.
    17 May 2024 - 21 June 2024. Online; Fridays (11:30 - 15:00 BST) over 6 weeks,
    More information is available at the organisers website
  • Dispute Resolution in M&A Transactions - 7th edition
    International Conference for Promoting Arbitration - The biggest M&A conference in the region, a truly unique event. Who should attend: * Arbitrators; * Attorneys; * In-house counsel; * M&A legal and business advisors. More information about the program and topics to be announced, in the meantime, visit the conference website to see the archives of the 6th (2022) and 5th (2019) editions of the conference.
    23 May 2024 - 24 May 2024. Warsaw, Poland,
    More information is available at the organisers website
  • International Arbitration Summer Institute - Center on International Commercial Arbitration (AU WCL)
    Taught by leading practitioners and arbitrators from around the world, the International Arbitration Summer Institute is an intense three-week certificate program that addresses foundational and practical aspects of international commercial arbitration. Networking activities such as special lectures, coffee hours, luncheons, and site visits to D.C. law firms and institutions provide participants with ample opportunities to network beyond the classroom setting. This Summer Institute is one of the annual events hosted by the Center on Int'l Commercial Arbitration. The Center is directed by Horacio A. Grigera Naón, a renowned independent international arbitrator and former secretary general of the Int'l Court of Arbitration of the Int'l Chamber of Commerce. The rest of the faculty of this Summer Institute is also very prominent. Participants may opt to stay in the American University dormitory at Cassell Hall.
    28 May 2024 - 13 June 2024. Washington, D.C.,
    More information is available at the organisers website

June 2024

  • Baltic Arbitration Days (13th edition)
    The Baltic Arbitration Days is an international forum for arbitration practitioners and academics, which takes place every June in Riga and Jurmala. During two days of lectures and social functions, we discuss current issues of international commercial and investment arbitration. While Central- and Eastern Europe remains the focus of the conference, different guest countries or regions are designated each year, hosting speakers and participants from around the world. Topics: * Investigations & Enforcement; * Investment Arbitration Update; * Climate & Energy & Construction Arbitration; * Legaltech & IT in Arbitration.
    2 June 2024 - 3 June 2024. Riga and Jurmala,
    More information is available at the organisers website
  • CanArbWeek 2024
    TOPICS: * ADRIC - Awards: Law and Practice; * SIAC - Demystifying the Scrutiny Process; * CPR Canada - In-House Counsel Wishlist: Dispute Boards; * CIArb Canada - Debate Series: Vavilov, Value, Venue; * Ciarb Canada Award for Distinguished Service; * ICC Canada - Navigating the Grey: Conflicts of Interest; * VanIAC - Ask us Anything: from Appointment to PO1; * WCCAS - Arbitrating Your Way to a Speedier Trial; * ICDR Canada - Debate on Proposed Rules Changes; * YCAP - Costs Report: DOs and DON’Ts in Cost Awards; * TCAS - Exploring the Psychology of Arbitration; * and more... Gala Welcome Reception (2 June 2024); Early Bird Tickets Until 1 May 2024.
    3 June 2024 - 4 June 2024. Toronto, Canada,
    More information is available at the organisers website
  • Critical Developments in International Arbitration - 5th edition of the Bucharest Arbitration Days
    The theme of the BArD 2024 brings to our attention the recurrent concern with the legitimacy of international arbitration, as a suitable dispute resolution mechanism for commercial disputes. The 2021 Queen Mary University of London and White & Case Survey has highlighted the evolving nature of international arbitration, adapting to the challenges posed, among others by diversity, technology, environmental considerations and information security. BArD 2024 will discuss ethics and conflicts in int'l arbitration; the evolving relationship between arbitration and courts; the diversity in arbitration from the perspective of diversity of seats and arbitration institutions; the ongoing discussion on evidence and the impact of technology on it. With a focus on disputes involving foreign investments, BArD 2024 will tackle the critical issue of the regulatory space of States, in particular in the context of the transition to a clean energy and int'l commitments on climate change.
    6 June 2024 - 7 June 2024. Bucharest, Romania; Virtual,
    More information is available at the organisers website
  • I Investment Forum
    This event aims to bring together key stakeholders (government officials, business leaders, legal professionals, and foreign investors) on a single platform to highlight significant legal aspects influencing business and investments in Ukraine. It includes an in-depth analysis of Ukraine's investment climate, dispelling common myths about conducting business in our country, preparing Ukrainian businesses for European Union integration, and focusing on recent legal improvements in sectors such as agriculture, extractive industries, energy, and defense. Identifying existing legal issues and presenting practical solutions is also a key focus.
    6 June 2024 - 7 June 2024. Kyiv, Ukraine; Online (Zoom),
    More information is available at the organisers website
  • Arbitration and State: A Complex Symbiosis - XVIII International Congres CEIA
    Topics: * Presentation of the Report on the Inclusion of Disability in Arbitration (CEIA - CINDA); * The work of UNCITRAL Group III; * State and anti-process measures in arbitration; * State responsability for the denial of recognition and execution of arbitration agreements and awards; * The State as a police against corruption in arbitration; * LATAM 360°: Administrative activity as the object of the arbitration disputes; * Arbitration as a mechanism for resolving conflicts between States; * The cases of the year: procedural situations when the State is a party. The conference will have Spanish-English simultaneous translation.
    9 June 2024 - 11 June 2024. Madrid, Spain,
    More information is available at the organisers website
  • Italian Arbitration Day: The Geography of International Arbitration
    The Italian Association for Arbitration and the Milan Chamber of Arbitration, with the support of several national and international organizations, join forces to organize the third Italian Arbitration Day ("IAD"). The IAD will explore the geography of arbitration, navigating the routes of international arbitration, exploring methods and characters of its actors. Stellar international practitioners will discuss the ever-changing map of international arbitration. Participants will be able to contribute ideas, experiences and anecdotes. PROGRAM: * KEYNOTE SPEECH: Lucio Caracciolo - Arbitration and Geopolitics: A Way to De-escalate International Crises? * Panel I - Quo Vadis International Arbitration? Of Parties, Arbitrators and Arbitral Institutions + Reverse Debate * A View from Our Partners: Unidroit * Panel II - International Conflicts and Economic Sanctions: What Role for International Arbitration? + Reverse Debate
    13 June 2024. Rome, Italy,
    More information is available at the organisers website
  • Arbitration Academy 2024
    Applications for the 2024 session of the International Academy for Arbitration Law will be opened soon. The Arbitration Academy is designed to provide advanced courses in arbitration law to students, government officials and practitioners who have already a general knowledge of arbitration law. The Academy provides advanced Summer Courses in Paris to students and young practitioners interested in international arbitration. The Curriculum is conceived by international arbitration academics and practitioners to cover all aspects of international arbitration, and the Courses are taught by the most renowned experts in the fields of international commercial arbitration and investment treaty arbitration. A great opportunity to attend high-level courses and seminars on International Arbitration, and to learn from world-renowned professors and practitioners - don't miss out!
    17 June 2024 - 4 July 2024. Paris, France,
    More information is available at the organisers website or contact
  • El arbitraje internacional en materia de construcción (AU WCL)
    El arbitraje comercial internacional constituye el mecanismo preferido para la solución de disputas en el mundo de los negocios. Un área en que el arbitraje internacional tiene frecuente aplicación es en disputas que emergen de proyectos de construcción. En América Latina el arbitraje de construcción también ha comenzado a ser muy relevante. Esta evolución ha generado una extensa demanda de profesionales altamente formados y especializados en esta materia. Por esto el Centro de Arbitraje Comercial Internacional de la AUWCL trabaja junto con la Comisión Interamericana de Arbitraje Comercial (CIAC) para ofrecer este Seminario Práctico en arbitraje de construcción en junio y julio de 2024. Este Seminario Práctico permite experimentar el desarrollo de un proceso arbitral en materia de construcción desde los inicios de la disputa y su tratamiento por la junta de resolución de disputas, pasando por la notificación de arbitraje, la práctica de la prueba, hasta la adopción del laudo. ...
    17 June 2024 - 12 July 2024. Washington, D.C.,
    More information is available at the organisers website
  • London Summer Arbitration School (Application deadline 20 April 2024)
    The London Summer Arbitration School will feature an interactive five-day programme introducing participants not only to commercial arbitration, but also to less well-known types of arbitration such as maritime, construction and commodities arbitration. The participants will also engage in discussion of related career and business development opportunities with practitioners and representatives of institutions. Topics: * ad hoc arbitration; * maritime arbitration; * construction arbitration; * commodities arbitration; * commercial arbitration; * ethics in international arbitration; * banking & finance arbitration; * climate change arbitration; * outer space arbitration; * investor-state arbitration; * relationship between arbitral tribunals and domestic courts. It will also be possible to attend the school in the online format. Registration deadline: 20 April 2024.
    17 June 2024 - 21 June 2024. Online; London, United Kingdom,
    More information is available at the organisers website

July 2024

  • Brunel Law School Summer Program on International Arbitration
    This Programme will cover "International Commercial Arbitration" (ICA) and "Investment Treaty Arbitration" (ITA) and will include esteemed arbitration scholars and practitioners such as Professor Kaj Hobér, Dr Kabir Duggal, Sir Bernard Rix, Dr Ylli Dautaj and others. ICA is essentially a private resolution forum between private parties (or States acting in a private capacity, jure gestionis), where the subject-matter of the dispute often stems from a "commercial" contract or undertaking of some sort. When studying ICA, we will largely focus on the process of arbitration and not on the subject matter. ITA, on the other hand, is a form of arbitration between foreign investors and host States regarding foreign direct investment (FDI). The subject-matter is arbitrated under public international law, more specifically international investment law. 10% early bird discount if booked by 30th April 2024.
    8 July 2024 - 13 July 2024. London, UK,
    More information is available at the organisers website
  • Brunel Law School Summer Program on International Arbitration
    This Programme will cover "Int'l Commercial Arbitration" (ICA) and "Investment Treaty Arbitration" (ITA) and will include esteemed arbitration scholars and practitioners such as Professor Kaj Hobér, Dr Kabir Duggal, Sir Bernard Rix, Dr Ylli Dautaj and others.ICA is essentially a private resolution forum between private parties (or States acting in a private capacity, jure gestionis), where the subject-matter of the dispute often stems from a "commercial" contract or undertaking of some sort. When studying ICA, we will largely focus on the process of arbitration and not on the subject matter. ITA, on the other hand, is a form of arbitration between foreign investors and host States regarding foreign direct investment (FDI). The subject-matter is arbitrated under public int'l law, more specifically international investment law. Int'l investment law is a sub-specie of int'l economic law. Upon conclusion of the Summer Programme, all participants shall receive a Certificate of Attendance.
    8 July 2024 - 13 July 2024. London, UK,
    More information is available at the organisers website

October 2024

  • International Law Weekend 2024 - Powerless law or law for the powerless? (Call for Panel Proposals deadline 15 April 2024)
    International law faces an existential threat as history unfolds at unprecedented speed worldwide. Indeed, international law and international institutions at times appear incapable of protecting vulnerable persons against war, disease, hunger, exploitation, climate change, and other human and natural catastrophes. Some people-both individually and collectively-are openly eschewing legal values and frameworks in order to pursue results through other means, including dangerous and destabilizing ones. Is international law, in fact, powerless or does it remain a source of power that vulnerable persons can utilize to protect and advance their rights and interests? This year's ILW is focused on engaged, interactive, and inclusive discussions about how international law can transcend perceptions and misperceptions of its powerlessness and fulfill its aspirations of balancing power through principles of justice, equality, and dignity. Call for Panel Proposals deadline 15 April 2024.
    24 October 2024 - 26 October 2024. New York City, USA,
    More information is available at the organisers website

Note: a list of prior events can be found here.

ICSID: Dec 8 - 16 Public Hearing Railroad Development Corporation v. Republic of Guatemala (ICSID Case No. ARB/07/23)

Nov 18, http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=OpenPage&PageType=AnnouncementsFrame&FromPage=Announcements&pageName=Announcement97

A hearing on the merits in the above case will be transmitted live via internet feed from December 8, 2011 to December 16, 2011 (from 9:00 a.m. - 5:00 p.m. EST).

DIAC promotes arbitration services at 6th Open Arbitration Dialogue

Nov 1, http://www.ameinfo.com/279877.html

Dubai International Arbitration Centre (DIAC), an initiative of Dubai Chamber of Commerce and Industry, organised its 6th Open Arbitration Dialogue yesterday on the sidelines of the first International Bar Association (IBA) annual conference to be held in the Middle East.

JOBS / MOVES

Wilmer Cutler Pickering Hale and Dorr LLP Announces Newest Scholars-In-Residence

Nov 17, http://www.wilmerhale.com/about/news/newsDetail.aspx?news=2859

The International Arbitration Group at Wilmer Cutler Pickering Hale and Dorr LLP in London has great pleasure in announcing the forthcoming arrival of two very distinguished arbitration scholars. Both Professor José E. Alvarez, New York University Law School, and Professor Muthucumaraswamy Sornarajah, National University of Singapore, will join us as Scholars-in-Residence in 2012.

UN Member States elect judges to serve on International Court of Justice

Nov 10, http://www.un.org/apps/news/story.asp?NewsID=40356&Cr=icj&Cr1=

The General Assembly and the Security Council today elected four judges to serve on the International Court of Justice (ICJ), the principal judicial organ of the United Nations.

Craig Chiasson re-joins Borden Ladner Gervais LLP as Counsel

Nov 2, http://www.blg.com/en/home/news-events/Pages/news_1343.aspx

Craig Chiasson has joined the Vancouver office of Borden Ladner Gervais LLP's growing International Trade and Arbitration Group. Originally from Vancouver, Chiasson has over a decade of complex commercial and investment treaty dispute resolution experience, including nearly six years practising international arbitration in the Paris office of Freshfields Bruckhaus Deringer LLP's formidable international arbitration group.

ICC International Court of Arbitration announces Deputy Secretary General

Oct 31, http://www.iccwbo.org/index.html?id=46370

Jose Ricardo Feris will succeed Simon Greenberg as Deputy Secretary General of the ICC International Court of Arbitration, in January 2012, ICC announced today.

ICSID

HOCHTIEF Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/07/31)

- Decision on Jurisdiction - 24 October 2011
- Separate and Dissenting Opinion J Christopher Thomas - 24 October 2011

Award: El Paso Energy International Company v. Argentine Republic (ICSID Case No. ARB/03/15)

Outcome of Proceeding: The Tribunal renders its award on October 31, 2011.

New: Getma International and others v. République de Guinée (ICSID Case No. ARB/11/29)

Port Development Project - Registered November 03, 2011. Tribunal not yet constituted. Background: "The early expulsion of Getma International, a subsidiary of the NCT Necotrans group, from its 25-year concession for the Conakry container terminal in Guinea has all the hallmarks of a most extraordinary affair." Aug 30, http://www.portstrategy.com/insight-and-opinion101/post-script/An-extraordinary-affair

New: Hortensia Margarita Shortt v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/30)

Maritime transport services, Registered November 21. Tribunal not yet constituted.

Discontinued: Corporación Quiport S.A. and others v. Republic of Ecuador (ICSID Case No. ARB/09/23)

The Secretary-General issues an order taking note of the discontinuance of the proceeding pursuant to Arbitration Rule 43(1) on November 11, 2011.

Deutsche Bank AG v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/09/2)

Status of Proceeding: Respondent files a reply post-hearing brief on November 11

Tulip Real Estate Investment and Development Netherlands B.V. v. Republic of Turkey (ICSID Case No. ARB/11/28)

Residential and commercial construction project. Registered October 28. Tribunal not yet constituted. Press release: http://www.crowell.com/NewsEvents/PressReleasesAnnouncements/Crowell-Moring-Files-Arbitration-On-Behalf-Of-Dutch-Developer-Against-Turkey-For-Improperly-Terminating-Istanbul-Housing-Project Request for arbitration: https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=6540

Highbury International AVV and Ramstein Trading Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/1)

Status of Proceeding: Respondent files a memorial on jurisdiction on October 27

Deutsche Bank AG v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/09/2)

Status of Proceeding: each party files a post-hearing brief on October 25

ConocoPhillips Company and others v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/07/30)

Status of Proceeding: Claimants file observations on the proposal for disqualification on October 25

Rafat Ali Rizvi v. Republic of Indonesia (ICSID Case No. ARB/11/13)

Status of Proceeding: Tribunal holds a first session by telephone conference on October 25

Impregilo S.p.A. v. Argentine Republic (ICSID Case No. ARB/07/17)

Annulment Proceeding Registered October 25, ad hoc Committee not yet constituted.

Vigotop Limited v. Republic of Hungary (ICSID Case No. ARB/11/22)

Following appointment by the Respondent, Veijo Heiskanen (Finnish) accepts his appointment as arbitrator on November 1

Mr. Franck Charles Arif v. Republic of Moldova (ICSID Case No. ARB/11/23)

Following appointment by the Claimant, Bernard Hanotiau (Belgian) accepts his appointment as arbitrator on October 28

Border Timbers Limited, Border Timbers International (Private) Limited, and Hangani Development Co. (Private) Limited v. Republic of Zimbabwe (ICSID Case No. ARB/10/25)

Status of Proceeding: Tribunal issues Procedural Order No. 1 concerning production of documents on October 31

Standard Chartered Bank (Hong Kong) Limited v. Tanzania Electric Supply Company Limited (ICSID Case No. ARB/10/20)

Status of Proceeding: Claimant files observations on the Respondent's request for the Tribunal to decide on production of documents on October 28

Hassan Awdi, Enterprise Business Consultants, Inc. and Alfa El Corporation v. Romania (ICSID Case No. ARB/10/13)

Status of Proceeding: Tribunal decides on the Respondent's request of October 19, 2011 on October 28

Opic Karimun Corporation v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/14)

Status of Proceeding: Claimant files a counter-memorial on jurisdiction on November 1

Bernhard von Pezold and others v. Republic of Zimbabwe (ICSID Case No. ARB/10/15)

Status of Proceeding: Tribunal issues Procedural Order No.1 concerning production of documents on October 31

Mærsk Olie, Algeriet A/S v. People's Democratic Republic of Algeria (ICSID Case No. ARB/09/14)

Status of Proceeding: Tribunal issues a procedural order concerning the organization of the hearing on the merits on October 28

Ömer Dede and Serdar Elhüseyni v. Romania and AVAS Privatization Agency of the Government of Romania (ICSID Case No. ARB/10/22)

Tribunal Constituted Nov 01. William W. PARK (U.S.); Nicolas HERZOG (Swiss); Brigitte STERN (French)

Abengoa, S.A. y COFIDES, S.A. v. United Mexican States (ICSID Case No. ARB(AF)/09/2)

Status of Proceeding: Respondent files a counter-memorial on the merits on November 1

Cambodia Power Company v. Kingdom of Cambodia (ICSID Case No. ARB/09/18)

Status of Proceeding: Claimant files a request for the exclusion of evidence on October 26

Ron Fuchs v. Georgia (ICSID Case No. ARB/07/15)

Status of Proceeding: Tribunal issues a procedural order concerning the hearing on revision on October 28

Ioannis Kardassopoulos v. Georgia (ICSID Case No. ARB/05/18)

Status of Proceeding: Tribunal issues a procedural order concerning the hearing on revision on October 28

Abaclat and others v. Argentine Republic (ICSID Case No. ARB/07/5)

Status of Proceeding: following resignation of Georges Abi-Saab, Centre notifies parties of the vacancy on the Tribunal on November 2

Longreef Investments A.V.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/5)

Status of Proceeding: Tribunal holds a first session by telephone conference on November 9

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

Status of Proceeding: Tribunal decides on production of documents on November 8

Ron Fuchs v. Georgia (ICSID Case No. ARB/07/15)

Status of Proceeding: Tribunal issues a procedural order concerning the hearing on revision on October 28

Tza Yap Shum v. Republic of Peru (ICSID Case No. ARB/07/6)

Annulment Proceeding Registered November 09, 2011. Ad hoc Committee not yet constituted.

Mamidoil Jetoil Greek Petroleum Products Societe Anonyme S.A. v. Republic of Albania (ICSID Case No. ARB/11/24)

Status of Proceeding: following appointment by the Respondent, Yas Banifatemi (France/Iran) accepts her appointment as arbitrator on November 12

Koch Minerals Sàrl and Koch Nitrogen International Sàrl v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/19)

Tribunal Constituted Nov 08. V.V. Veeder, M. Lalonde, F.P. Feliciano

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

Status of Proceeding: each party files a statement of costs on November 8

Sempra Energy International v. Argentine Republic (ICSID Case No. ARB/02/16)

Status of Proceeding: the Respondent files a request for the Tribunal to decide on production of documents on November 10

DP World Callao S.R.L., P&O Dover (Holding) Limited, and The Peninsular and Oriental Steam Navigation Company v. Republic of Peru (ICSID Case No. ARB/11/21)

Status of Proceeding: following appointment by the Respondent, Claus von Wobeser (Mexican) accepts his appointment as arbitrator on November 15

Border Timbers Limited, Border Timbers International (Private) Limited, and Hangani Development Co. (Private) Limited v. Republic of Zimbabwe (ICSID Case No. ARB/10/25)

Status of Proceeding: the Claimants file a memorial on the merits on November 15

Bernhard von Pezold and others v. Republic of Zimbabwe (ICSID Case No. ARB/10/15)

Status of Proceeding: the Claimants file a memorial on the merits on November 15

Longreef Investments A.V.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/5)

Status of Proceeding: Claimant files observations on the proposal for disqualification on November 15

National Gas S.A.E. v. Arab Republic of Egypt (ICSID Case No. ARB/11/7)

Status of Proceeding: following appointment by the Claimant, L. Yves Fortier (Canadian) accepts his appointment as arbitrator on November 21

Nova Scotia Power Incorporated v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/11/1)

Status of Proceeding: the Tribunal holds a first session in Paris on November 20

David Minnotte and Robert Lewis v. Republic of Poland (ICSID Case No. ARB(AF)/10/1)

Status of Proceeding: the Respondent files further observations on the Claimants' response of November 4, 2011, on November 18

Standard Chartered Bank (Hong Kong) Limited v. Tanzania Electric Supply Company Limited (ICSID Case No. ARB/10/20)

Status of Proceeding: the Tribunal issues a procedural order concerning production of documents on November 14

H&H Enterprises Investments, Inc. v. Arab Republic of Egypt (ICSID Case No. ARB/09/15)

Status of Proceeding: the Tribunal holds a hearing on the question whether to address the objections to jurisdiction as a preliminary matter, in Washington, D.C. on November 15

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

Status of Proceeding: the Tribunal issues a procedural order concerning production of documents on November 17

Mærsk Olie, Algeriet A/S v. People's Democratic Republic of Algeria (ICSID Case No. ARB/09/14)

Status of Proceeding: the Tribunal holds a hearing on jurisdiction and the merits in Paris on November 15-21

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: the Claimant files a reply on the merits and quantum on November 18, 20

ConocoPhillips Company and others v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/07/30)

Status of Proceeding: the arbitrator furnishes explanations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3) on October 25

Urbaser S.A. and Consorcio de Aguas Bilbao Biskaia, Bilbao Biskaia Ur Partzuergoa v. Argentine Republic (ICSID Case No. ARB/07/26)

Status of Proceeding: the Tribunal issues a procedural order concerning production of documents on November 14

Ron Fuchs v. Georgia (ICSID Case No. ARB/07/15)

Status of Proceeding: the Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference on November 17

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

Annulment Proceeding Registered November 21, ad hoc Committee not yet constituted.

Joseph C. Lemire v. Ukraine (ICSID Case No. ARB/06/18)

Status of Proceeding: Joseph Lemire files a rejoinder on Ukraine's request to continue the stay of enforcement of the award on November 18

Ioannis Kardassopoulos v. Georgia (ICSID Case No. ARB/05/18)

Status of Proceeding: the Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference on November 17

SAUR International v. Argentine Republic (ICSID Case No. ARB/04/4)

Status of Proceeding: the Tribunal holds a hearing on the merits in Washington, D.C. on November 14-18

AHS Niger and Menzies Middle East and Africa S.A. v. Republic of Niger (ICSID Case No. ARB/11/11)

Status of Proceeding: the Claimants file a memorial on the merits on November 14

Renée Rose Levy and Gremcitel S.A. v. Republic of Peru (ICSID Case No. ARB/11/17)

Tribunal Constituted: November 22. G. Kaufmann-Kohler, E. Zuleta, R.E. Vinuesa

Burimi SRL and Eagle Games SH.A v. Republic of Albania (ICSID Case No. ARB/11/18)

Tribunal Constituted: November 22. D.M. Price, B.M. Cremades, I. Fadlallah

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

Status of Proceeding: each party files observations on the other party's answers of November 3 on November 22

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

Status of Proceeding: Tribunal issues a procedural order concerning provisional measures on November 23