issue #05, week 29. 20 July 2012
Prepared by TDM and Aloysius Gng (CEPMLP/Dundee)

TDM News Digest

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Recent issues:

PCA: 111th Annual Report - 2011

July 2, http://www.pca-cpa.org/showfile.asp?fil_id=1933

During the course of the year, the Permanent Court of Arbitration (PCA) administered a record number of sixty-nine cases. On December 6, the Administrative Council accepted the resignation of the PCA's twelfth Secretary-General, Mr. Christiaan M.J. Kröner, with effect from December 31, 2011. The Council expressed its gratitude for Mr. Kröner's service to the PCA since coming to office in September 2008.

http://www.pca-cpa.org/showpage.asp?pag_id=1069

ICC Court starts new term

Jul 11, http://www.iccwbo.org/Products-and-Services/Arbitration-and-ADR/News-Arbitration-and-ADR/ICC-Court-starts-new-term/

The recently appointed members of the ICC International Court of Arbitration took up office on 1 July 2012 for a new term that will run until 30 June 2015.

EU takes key step to provide legal certainty for foreign investors

June 21, http://europa.eu/rapid/pressReleasesAction.do?reference=IP%2F12%2F677&format=HTML&aged=0&language=EN&guiLanguage=en

The European Commission today took an important step to protect foreign investors at the EU level, thereby ensuring that Europe continues to be a safe and attractive place for investment by foreign companies. Today's proposal establishes a legal and financial framework for "investor to state dispute settlement" as part of a broad investment policy which has become an exclusive EU competence under the Lisbon Treaty. It is a further step in the creation of a comprehensive EU investment policy which will allow the EU to negotiate investment protection agreements at the European level. Today's decision will ensure the EU has the right system in place so that international investment rules can be managed effectively in cases disputes arise between foreign investors and the EU and its Member States.

A key element of investment protection is the possibility of dispute settlement between an investor and a state, a provision currently included in the more than 1,000 bilateral investment protection agreements concluded between EU Member States and countries outside the EU. Once investment agreements will be concluded at the EU level, foreign businesses investing in the EU may, for the first time, bring claims against the EU alleging that investment protection obligations have been breached. Today's proposal clarifies who would bear the financial responsibility when compensation has to be paid - Member States or the EU. It ensures that foreign investors in the EU are not affected by this allocation of responsibility.

"Investment is a driver of growth so it's essential that we have the right rules in place. Just as we expect EU investors to be duly compensated when the rules are broken, we have to make sure we have a system at the EU-level to follow suit. Today's proposal makes it clear who pays. This is one step in an overall strategy to ensure Europe remains an attractive investment environment", said Karel De Gucht, EU Trade Commissioner.

The EU is the world's leading host of foreign direct investment, attracting investments worth €225 billion from the rest of the world in 2011 alone. The proposed regulation will provide legal certainty and predictability for foreign investors, which will help keeping the EU open for investment and create jobs.

The Regulation proposes a mechanism whereby financial responsibility for the costs of investor-to-state dispute settlement and the right to defend such a case are allocated between the EU and the Member States on the basis of whose actions caused the investor to bring a claim:

- Where the measure which is alleged to be in breach of the agreement is a Member State measure, which was not required by EU law, the Member State would bear the financial responsibility flowing from the dispute and may in principle also act to defend the claim.

- Conversely, if the measure at issue is an EU measure or a Member State measure mandated by EU law, the EU would bear the financial responsibility and could act as defendant.

The regulation permits the Member States to defend their own measures where they would ultimately have to bear the costs, unless it is in the interest of the Union to act as defendant, on the basis of the conditions set down in the proposal.

In all cases, there should be very close cooperation between the EU and Member States in order to ensure the best possible defence of any claims alleging a breach of the investment protection agreements negotiated by the EU.

Background

The Treaty of Lisbon included investment as part of the EU Common Commercial Policy, an exclusive competence of the EU. As a consequence, the European Commission can now negotiate on behalf of the European Union on both the liberalisation and protection of investments.

Today's proposal on investor to state dispute settlement is the third key part of this policy, which is based on:

- Negotiating new rules on investment with key trading partners

The EU is gradually negotiating on investment with key trading partners. Provisions on investment liberalisation and protection will be included in comprehensive Free Trade Agreements, or in self standing investment agreements.

The European Commission is currently negotiating on investment, including investment protection, as part of the Free Trade Agreement talks with Canada, India and Singapore, while the Council has recently adopted the negotiating directives also for four Euromed countries (Tunisia, Morocco, Jordan, and Egypt). The Commission is also preparing for an EU-China investment agreement.

When concluded, the EU level agreements including investment protection will replace the Member States' Bilateral investment Treaties with the same third countries.

- Ensuring the smooth continuity of existing bilateral investment treaties

More than 1000 bilateral Investment Treaties existing worldwide are in place between EU Member States and third countries.

To ensure legal certainty on these existing Bilateral Investment Treaties of the EU Member States the European Commission has presented a proposal for a Regulation of the Council and the European Parliament in July 2010 (IP/10/907). The Council and the Parliament have recently found a political agreement on the Commission's proposal, and the regulation is expected to be adopted and enter in force before the end of the year.

What happens next?

The proposal will now be discussed by the Council of Ministers and by the European Parliament under the ordinary legislative procedure.

The regulation should be in place before the new Free trade Agreements that contain new EU-level investment protection provisions comes into force.

For more information

EU investment policy http://ec.europa.eu/trade/creating-opportunities/trade-topics/investment/

EU27 foreign direct investment statistics, Eurostat, 13 June 2012 http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-13062012-BP/EN/2-13062012-BP-EN.PDF

EU: Highlights of the Trade Agreement between Colombia, Peru and the European Union

Jun 26, http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/487&format=HTML&aged=0&language=EN&guiLanguage=en

The newly signed agreement between the EU, Colombia and Peru will open up markets on both sides and increase the stability of the trade relationship that was worth €21.1 billion in bilateral trade in goods in 2011. The agreement includes far-reaching measures on the protection of human rights and the rule of law, as well as commitments to effectively implement international conventions on labour rights and environmental protection. The agreement will provisionally take effect once the European Parliament has given its consent and ratification procedures are concluded in Peru and Colombia. Full entry into force will be pending ratification by the 27 EU Member States. The key elements of this agreement are outlined in this Memo.

1- Substantially improved market access for EU exports to Colombia and Peru 2- Common rules to level the playing field 3- An Agreement for Sustainable Development

Dispute settlement

The Trade Agreement between the EU, Colombia and Peru includes an efficient and streamlined dispute settlement system in accordance with the principles that the EU considers to be most important such as transparency (open hearings and amicus curiae briefs) and sequencing (no right to impose retaliation until such time as non-compliance is verified). In addition, the Agreement includes a mediation mechanism for non-tariff barriers to trade in goods allowing for more conciliatory and expeditious solutions to emerge.

EU: Joint Statement on the Outcome of the EU-India Trade Ministerial

Jun 26, http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/493&format=HTML&aged=0&language=EN&guiLanguage=en

EU Trade Commissioner Karel De Gucht and Indian Commerce Minister Anand Sharma today expressed their satisfaction that negotiations towards an ambitious EU-India Free Trade Agreement are making good progress.

EFTA and Central American States hold second round of free trade negotiations

June 8, http://www.efta.int/free-trade/free-trade-news/2012-08-06-efta-central-america-2nd-rnd-fta.aspx

Meeting on 4-7 June 2012 in Panama City, delegations from the EFTA States, on the one hand, and Costa Rica, Honduras and Panama, on the other hand, made significant headway in their negotiations on a broad-based free trade agreement.

EFTA and Georgia plan to sign a joint declaration on cooperation in Gstaad on 28 June - EFTA

Jun 25, http://www.efta.int/about-efta/news/2012-06-21-efta-council.aspx

On 21 June, the EFTA Council in Geneva prepared for the summer EFTA Ministerial meeting that will take place in Gstaad on 28 June. The Ministers plan to sign a joint declaration on cooperation with Georgia. The Council decided to liberalise intra-EFTA trade in agricultural products and reviewed ongoing free trade negotiations, including a recent round with Central American countries.

EFTA and Georgia sign Joint Declaration on Cooperation - EFTA

Jun 29, http://www.efta.int/about-efta/news/2012-06-28-georgia-joint-declaration.aspx

Ministers from the Member States of the European Free Trade Association (EFTA) - Iceland, Liechtenstein, Norway and Switzerland - and from Georgia signed a Joint Declaration on Cooperation on 28 June 2012 in Gstaad, Switzerland. Through the Declaration, both sides commit to further enhancing their bilateral economic relations. A Joint Committee will meet periodically to discuss relevant issues.

EFTA and Indonesia convene for fifth round of negotiations

Jul 09, http://www.efta.int/free-trade/free-trade-news/2012-09-2012-efta-indonesia-5th-rnd-neg.aspx

The fifth round of negotiations on a “Comprehensive Economic Partnership Agreement” between the EFTA States and Indonesia was held in Engelberg, Switzerland on 3-6 July 2012.

Delegations discussed and made progress on most subjects foreseen to be covered by the agreement. A detailed schedule of follow-up work was set out for the coming months. Meetings of experts are planned to be held in several fields in preparation for the next full round of negotiations.

During the round, Ambassador Didier Chambovey of Switzerland acted as EFTA spokesperson, whereas Ambassador Soemadi DM Brotodiningrat led the Indonesian team.

Two-way merchandise trade between the two sides amounted to USD 974 million in 2011. EFTA’s main export categories to Indonesia are machinery and pharmaceuticals, while Indonesia primarily exports ships, footwear and apparel to the EFTA markets. Investors from the EFTA States have a significant presence in Indonesia.

EFTA: Official launch of EFTA-Vietnam free trade negotiations

Jul 06, http://www.efta.int/free-trade/free-trade-news/2012-07-03-efta-vietnam-launch-fta-neg.aspx

A Memorandum of Understanding was signed by the EFTA States and Vietnam marking the launch of negotiations on a broad-based free trade agreement between the two sides.

In the framework of a ceremony held on 3 July 2012 in Hanoi, the Memorandum of Understanding officially launching the negotiations was signed by H.E. Vu Huy Hoang, Minister of Industry and Trade of Vietnam. EFTA Ministers had signed the document at their biannual meeting on 28 June in Gstaad, Switzerland. In this context, the EFTA States also recognised Vietnam's status as a market economy.

Total EFTA-Vietnam merchandise trade (imports and exports) amounted to USD 2.1 billion in 2011. A free trade agreement between the two sides will provide a strong framework for the further development of bilateral trade and investment relations. After a first round of talks in May 2012, negotiating teams are foreseen to convene again in October.

WTO sets up panel to examine US complaint against India's agricultural import measures

Jun 25, http://www.wto.org/english/news_e/news12_e/dsb_25jun12_e.htm

The US introduced its request for a panel (WT/DS430/3). The US said that, as it had explained at the May 2012 DSB meeting, the US and other members had concerns about India's measures prohibiting the importation of various agricultural products into India from members reporting outbreaks of Low Pathogenic Notifiable Avian Influenza (LPAI). The US was of the view that such measures had no scientific basis; were inconsistent with the guidelines of the World Organization for Animal Health; and appeared to be inconsistent with a number of India's WTO obligations. Thus, the US requested, for the second time, the establishment of a panel to examine the matter.

India said that during the consultations, it had provided explanations and scientific rationale and was disappointed that the US had chosen to litigate rather than negotiate the matter. India considered that its measures were consistent with its WTO obligations and stood ready to defend them.

The DSB established a panel with standard terms of reference. China, Colombia, Ecuador, EU, Guatemala, Japan and Viet Nam reserved their third party rights to participate in the panel's proceedings.

WTO: Brazil files dispute against South Africa on poultry meat

Jun 21, http://www.wto.org/english/news_e/news12_e/ds439rfc_21jun12_e.htm

On 21 June 2012, Brazil requested consultations with South Africa under the dispute settlement system concerning the latter's anti-dumping measures on poultry meat from Brazil. Further information will be available within the next few days in doc WT/DS439/1.

WTO: China temporarily blocks WTO arbitration on rare earths dispute

Jul 10, http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Metals/6455392

China on Tuesday formally rejected a request by the US, European Union and Japan to have a World Trade Organization panel arbitrate a dispute over rare-earth export quotas.

WTO: Laos on target to complete membership negotiations after 2012 summer break

Jul 12, http://www.wto.org/english/news_e/news12_e/acc_lao_13jul12_e.htm

Laos has completed all its bilateral negotiations and is close to completing its multilateral membership package, a 12 July 2012 meeting heard. It is on track to complete the talks soon after the August WTO summer break and its membership to be approved formally before the end of the year, the working party of delegations negotiating the membership bid was told.

WTO: United States files dispute against China

Jul 05, http://www.wto.org/english/news_e/news12_e/ds440rfc_05jul12_e.htm

On 5 July 2012, the United States requested consultations with China under the dispute settlement system concerning the latter's anti-dumping and countervailing duties on certain automobiles from the United States.

See also http://www.ustr.gov/about-us/press-office/press-releases/2012/july/obama-administration-challenges-chinas-unfair-duties-american-made-cars

UN Commission on International Trade Law adopts Recommendations to assist arbitral institutions

Jul 04, http://www.unis.unvienna.org/unis/pressrels/2012/unisl167.html

UN Information Service - On 2 July 2012, the United Nations Commission on International Trade Law (UNCITRAL) adopted the UNCITRAL Recommendations to assist arbitral institutions and other interested bodies under the UNCITRAL Arbitration Rules, as revised in 2010 (the "Recommendations") and emphasized the usefulness of the text.

The UNCITRAL Arbitration Rules were originally adopted in 1976. In 1982, UNCITRAL adopted Recommendations to assist arbitral institutions and other interested bodies with regard to arbitrations under the 1976 UNCITRAL Arbitration Rules. Those Recommendations were designed to provide information and assistance to arbitral institutions and other relevant bodies in using the Arbitration Rules at a time when arbitration had not achieved the standing it has today. The Recommendations were very well received and furthered the use of the UNCITRAL Arbitration Rules. These Rules, in the thirty years since the adoption of the Recommendations, have been used for the settlement of a broad range of disputes including commercial disputes administered by arbitral institutions. They have also strongly contributed to the development of arbitration activities of many arbitral institutions in all parts of the world.

The UNCITRAL Arbitration Rules were revised in 2010 to better conform to current practices in international trade law and to meet changes in arbitral practice over the last thirty years. They have been effective since 15 August 2010. After their adoption, it was felt there was a need to issue Recommendations on the revised Rules, similar to those of 1982, particularly in view of the extended role of the appointing authority. Consequently, the Commission entrusted the Secretariat with the preparation of such recommendations at the same session, in 2010, for its consideration at a future session. For the development of the Recommendations, the UNCITRAL Secretariat has consulted some 40 arbitral institutions and other bodies. The Recommendations provide assistance with respect to the different uses of the UNCITRAL Arbitration Rules by arbitral institutions and other interested bodies.

UN Commission on International Trade Law Concludes 45th Session in New York

Jul 11, http://www.unis.unvienna.org/unis/pressrels/2012/unisl170.html

UN Information Service - On 6 July 2012, the United Nations Commission on International Trade Law (UNCITRAL) concluded its 45th annual session.

Finalization and adoption of texts

During the session, the Commission adopted a Guide to Enactment of the UNCITRAL Model Law on Public Procurement, which provides recommendations to States on how to implement the Model Law. The Commission also adopted the "Recommendations to assist arbitral institutions and other interested bodies with regard to arbitration under the UNCITRAL Arbitration Rules (as revised in 2010)".

Future work

The Commission decided that the UNCITRAL Secretariat should hold colloquia in the coming months on a number of topics to explore avenues of future work for the Commission. In the area of procurement, the Commission requested a colloquium on the topic of public-private partnerships. The Commission also requested a colloquium on microfinance focusing on the facilitation of simplified business incorporation and registration; the creation of an enabling legal and credit environment for micro, small and medium enterprises; and dispute resolution applicable to microfinance transactions. Based on a proposal by Switzerland, the Commission agreed that a meeting or symposium should be held on the topic of general contract law with a view to determining the desirability of future work in that field. Finally, commercial fraud was also proposed as colloquium topic for the coming year.

The Commission also confirmed that its Working Groups should continue their work on cross-border insolvency, electronic transferable records, online dispute resolution, registration of security rights in movable assets and transparency in treaty-based investor-State arbitration.

Rule of law briefing

During the session, a rule of law briefing took place in the Commission in the context of the high-level meeting of the General Assembly on the topic to be held on 24 September. The high-level meeting was viewed in the Commission as giving a unique opportunity for the international community to look at rule of law issues from a commercial law point of view, to increase knowledge about the impact of UNCITRAL and commercial law reform on the promotion of the rule of law, and to make progress in achieving effective integration of UNCITRAL's instruments, tools and expertise in the United Nations joint rule of law activities.

After the briefing, the Commission formulated a message to the high-level meeting and agreed that any outcome document from the meeting should refer to UNCITRAL work and recognize the contribution made by UNCITRAL in the promotion of the rule of law in the economic field and in the broader context. The Commission also emphasized the importance of having the UNCITRAL Chairman address the high-level meeting and suggested UNCITRAL-related sub-topics for consideration in future debates of the General Assembly Sixth Committee under agenda item "Rule of law".

UNCITRAL regional centres pilot project

During the session, the Commission heard a report on the UNCITRAL Regional Centre for Asia and the Pacific, which was opened in Incheon, Republic of Korea on 10 January 2012. The Commission also heard detailed statements by Singapore and Kenya expressing interest in establishing additional regional centres.

UN Commission on International Trade Law to Hold 45th Session in New York, 25 June - 6 July 2012

Jun 22, http://www.unis.unvienna.org/unis/pressrels/2012/unisl165.html

The Under-Secretary-General for Legal Affairs and United Nations Legal Counsel, Patricia O'Brien, will open the 45th session of the United Nations Commission on International Trade Law (UNCITRAL) on 25 June in New York. Key topics for consideration by the Commission will include finalization and adoption of draft texts on procurement and arbitration.

Finalization and adoption of a Guide to Enactment of the UNCITRAL Model Law on Public Procurement

The Commission is expected to finalize a Guide to Enactment for the UNCITRAL Model Law on Public Procurement. The Guide will provide recommendations to States on how to implement the Model Law and is considered by the Commission as an indispensable accompaniment to the text of the Law.

The Model Law was adopted by UNCITRAL in 2011 and is intended to enable government purchasers to take advantage of modern commercial techniques, such as e-procurement and framework agreements, and to enhance integrity in public procurement. It reflects international best practice and is designed to be appropriate for all States.

Finalization and adoption of recommendations to assist arbitral institutions and other interested bodies with regard to arbitration under the UNCITRAL Arbitration Rules

The Commission is also expected to finalize a set of recommendations to assist arbitral institutions with arbitration under the UNCITRAL Arbitration Rules (as revised in 2010). The recommendations follow the same pattern as those adopted by the Commission in 1982 to assist institutions with arbitration under the UNCITRAL Arbitration Rules (1976).

The UNCITRAL Arbitration Rules were revised in 2010 to better conform to current practices in international trade and to meet changes in arbitral practice that had taken place over the last thirty years. Upon adoption of the revised UNCITRAL Arbitration Rules in 2010, the Commission requested the preparation of recommendations on the revised Rules, in particular to take account of the extended role of the appointing authority under those Rules. For the development of the recommendations on the revised Rules, the UNCITRAL Secretariat consulted governments and numerous arbitral institutions.

Other topics to be discussed

The Commission will consider a proposal from Switzerland to undertake work in the field of international contract law. UNCITRAL's past work in this area includes the United Nations Convention on Contracts for the International Sale of Goods (CISG), an influential and widely applied treaty with 78 States parties.

The Commission will also consider UNCITRAL's strategic direction and the recently established UNCITRAL Regional Centre for Asia and the Pacific.

The agenda for the meeting also includes reports from working groups, covering work on electronic transferable records, insolvency law, online dispute resolution for cross-border electronic commerce transactions, registration of security rights in movable assets, and transparency in treaty-based investor-State arbitration. The Commission will also consider possible future work in the areas of public procurement and microfinance.

The coordination of UNCITRAL's work with that of other international organizations active in the field of international trade law, its role in promoting the rule of law, its possible endorsement of the Unidroit Principles 2010 and Incoterms 2010 are also scheduled for discussion.

Membership

The Commission is composed of 60 Member States elected by the United Nations General Assembly. Membership is structured so as to be representative of the world's geographic regions and its principal economic and legal systems. Members of the Commission are elected for terms of six years, the terms of half the members expiring every three years.

From 25 June 2012, UNCITRAL will be composed of the following 60 member States: Algeria, Argentina, Armenia, Australia, Austria, Bahrain, Benin, Bolivia, Botswana, Brazil, Bulgaria, Cameroon, Canada, Chile, China, Colombia, Croatia, Czech Republic, Egypt, El Salvador, Fiji, France, Gabon, Georgia, Germany, Greece, Honduras, India, Iran, Israel, Italy, Japan, Jordan, Kenya, Latvia, Malaysia, Malta, Mauritius, Mexico, Morocco, Namibia, Nigeria, Norway, Pakistan, Paraguay, Philippines, Republic of Korea, Russian Federation, Senegal, Singapore, South Africa, Spain, Sri Lanka, Thailand, Turkey, Uganda, Ukraine, United Kingdom, United States and Venezuela.

UNCITRAL: Online platform on the New York Convention Guide launched

Jul 04, http://www.unis.unvienna.org/unis/pressrels/2012/unisl166.html

UN Information Service - On 3 July 2012, the United Nations Commission on International Trade Law (UNCITRAL) announced the launch of an online platform which supplements the forthcoming Guide on the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 (New York) known as the New York Convention.

UNCITRAL is currently working together with two experts, Emmanuel Gaillard and George Bermann, to prepare the Guide on the New York Convention. The Guide aims to promote the uniform and effective interpretation and application of the New York Convention with a view to limit the risk that State practice might diverge from its spirit. It is expected that the Guide will be presented to the Commission in 2013.

Professor Gaillard with his research team, in conjunction with Professor Bermann and his research team, and with the support of UNCITRAL has established a website ( www.newyorkconvention1958.org) to make the information gathered in preparation of the Guide on the New York Convention publicly available. The website constitutes a platform which reflects the evolution of case law on the New York Convention. Cases are reported in the form of summaries highlighting the interpretation and application of specific provisions of the New York Convention. The full text of the original court decisions is also made available.

Angola: ANIP formalises investment contracts

Jun 20, http://www.portalangop.co.ao/motix/en_us/noticias/economia/2012/5/25/ANIP-formalises-investment-contracts,5f28ef3d-47e0-4261-8b6b-76c1cf8f300a.html

Luanda - The Angola National Agency for Private Investment (ANIP) Tuesday in Luanda formalised the signing of six private investment projects in the fields of manufacturing industry, services and wholesale and retail commerce.

Argentina Complains to WTO over Spanish Biodiesel Restrictions

June 13, http://www.foxbusiness.com/news/2012/06/13/argentina-complains-to-wto-over-spanish-biodiesel-restrictions/

Argentina said Wednesday it has lodged a protest with the World Trade Organization's committee on technical barriers to trade over Spain's recent decision to stop buying biodiesel from outside the European Union.

Argentina warns Premier Oil over exploration near Falklands

Jul 17, http://www.google.com/hostednews/afp/article/ALeqM5iTvaqeJnVR2utNSyGtYe0zodCRog?docId=CNG.497cfaba1bfd30d91f4100739ffd3714.1b1

AFP - "Oil and gas exploration by the firm Rockhopper Exploration PLC on the Argentine continental shelf are illegal and as such the Argentine republic has declared the company to be operating illegally ... and has taken appropriate legal measures," a foreign ministry statement said in a letter sent to Premier through the Argentine embassy in London.

Asean nations rejig laws

Jul 20, http://www.bangkokpost.com/business/economics/303360/asean-nations-rejig-laws

In a seminar entitled "AEC Diversity: The Perspective from Our Neighbours", speakers from the region agreed on the potential of the Asean market but said there needed to be clearer goals.

Australia seeks international umpire work

June 10, http://news.ninemsn.com.au/national/8481535/australia-seeks-international-umpire-work

Chief Justice of Victoria, Marilyn Warren, is backing a push to make Australia a key player in international commercial dispute hearings.

Australia targets China for international arbitration business

June 10, http://acica.org.au/assets/media/news/ChinaACICAMediaRelease2012.pdf

Marking the 40th anniversary since diplomatic relations between Australia and China began, the Australian Centre for International Commercial Arbitration (ACICA) launched its latest global initiative in Beijing and Shanghai to attract multinationals to consider Australia as a venue to resolve business disputes.

Hosted by Asia's largest law firm, King & Wood Mallesons, the high end briefings attracted senior lawyers from international and local law firms including representatives from Chinese companies, government bodies and arbitral institutions.

ACICA President and Clayton Utz head of International Arbitration and Major Projects, Professor Doug Jones AM said: "With the acceleration of trade in the region and continuing uncertainty of global financial markets, multinationals prefer to resolve disputes via international arbitration, instead of the local court system, as arbitral awards are enforceable worldwide.

"Chinese enterprises face significant issues in many parts of the world through joint investment and trade in various sectors including commodities, infrastructure, shipping and intellectual property.

"With legislative, regulatory and procedural reforms in place, Australia is now an attractive destination to resolve global business disputes and given what ACICA and our world class hearing facility, the Australian International Disputes Centre (AIDC) offer, we were able to provide a compelling case to attract Chinese business to consider Australia over our major competitors.

The Australian delegation included senior trade officials, who delivered a message of support from Australian Attorney General, the Hon Nicola Roxon, and the Chief Justice of Victoria, the Hon Marilyn Warren AC, who delivered a keynote address: "Australia as a `safe and neutral' arbitration seat"

Representing the Australian judiciary's support for international arbitrations sitting in Australia, Victoria's top judge announced: "Building on the joint venture between ACICA and the New South Wales and Commonwealth Governments in Sydney, the next centre on the national grid I am sure will be Melbourne. It will be part of the Australian International Disputes Centre - a national facility of great significance. The aim of these centres is to provide a `one stop shop' which allows national and foreign companies to resolve commercial disputes outside the court system in a stable and supportive political and legal system"

Melbourne-based KWM Partner and ACICA Vice President, Peter Megens, who briefed delegates on ACICA's role and arbitration rules said: "From my firm's perspective, given the importance of China and our focus on Asia, the feedback has been exceptional. ACICA successfully demonstrated Australia's legal culture, arbitration laws, arbitral rules, facilities, wealth of talent among lawyers and arbitrators. The events were also a great opportunity for Chinese companies and lawyers to meet with a distinguished Australian judge and arbitrators."

http://acica.org.au/assets/media/news/ChinaACICAMediaRelease2012.pdf

Bangladesh to offer 'disputed' offshore gas blocks in August bidding round - Natural Gas

Jul 18, http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/7875785

Bangladesh is set to offer again offshore gas blocks "disputed" with neighboring India in next month's bidding round for oil and gas exploration by international oil companies, a top Petrobangla official told Platts Tuesday.

Belgium: Ion Beam Applications (IBA) delays payout as it settles arbitration case

Jul 06, http://www.cnbc.com/id/48085113

Reuters - Cancer company Ion Beam Applications said on Thursday it will delay a vote on a payout to investors while it reaches a settlement in an arbitration case - which may mean it writes down a major part of its 25 million euro ($30.95 million) exposure.

Bolivia may nationalize Vancouver mining firm

Jul 10, http://www.vancouversun.com/business/Bolivia+nationalize+Vancouver+mining+firm/6909942/story.html

Bolivia will consider nationalizing Vancouver-headquartered mining firm South American Silver Corp's silver property, President Evo Morales said on Sunday, following violent indigenous protests against the mining project.

Bolivia to seek new partner after Jindal quits

Jul 17, http://www.reuters.com/article/2012/07/17/bolivia-jindal-idUSL2E8IHGID20120717?feedType=RSS&feedName=basicMaterialsSector

Reuters - Bolivia's government said on Tuesday it wants to award a new contract to exploit a huge iron ore deposit within six months after India's Jindal Steel & Power Ltd confirmed it was abandoning the El Mutun project.

Bolivia: Deadline for major Indian iron and steel project in Bolivia

Jul 12, http://en.mercopress.com/2012/07/09/deadline-for-major-indian-iron-and-steel-project-in-bolivia

Jindal Steel & Power Ltd. and the Bolivian government are still in talks to see if the Indian company's 2.1 billion dollars mining and steel-manufacturing venture can be salvaged, a senior executive said Friday.

Bolivia: Jindal Steel and Power terminates contract with Bolivian Govt

Jul 17, http://www.jindalsteelpower.com/media/MediaDetails.aspx?id=322

The termination comes due to the anti-investor friendly attitude of the Bolivian Government

Jindal Steel Bolivia (JSB), a subsidiary of Jindal Steel & PowerLtd., on July 16, 2012 terminated the contract signed with the Bolivian Government forinvestment of US$ 2.1 billion for the El Mutun mines.

The termination comes in the wake of the issuance of a letter to the Govt. of Bolivia onJune 8, 2012 conveying its intention to terminate the contract due to the non-fulfillment of contract conditions on the part of the Bolivian government.

As per terms of the Joint Venture Contract, the Govt. of Bolivia had 30 days time toresolve the issues failing which JSPL could terminate the contract within 7 working days thereafter. The company took the decision, after all its efforts to resolve the issues andtake the project forward did not meet with success. Due to the non-fulfillment of the contractual obligations and unwillingness to fulfill the contract on the part of the Govt. of Bolivia, JSPL has been forced to terminate the contract.

JSPL had signed a Contract with the Government of Bolivia in the year 2007 for investingUS $ 2.1 Billion in Iron Ore Mining, Pelletization (10 million ton per annum), DRI (6million ton per annum) and Steel making (1.7 million ton per annum). This was thesingle largest foreign investment in Bolivia.

As per the contract, Govt. of Bolivia was to sign an agreement for supply of natural gasrequired for the project - 10 million cubic metre per day (MCD) within 180 days ofsigning of the contract. The same has not been signed till date. The Govt. of Bolivia waswilling to commit only 2.5 MCD of gas (as against a total requirement of 10 MCD) from 2014 onwards due to non availability of gas in the country, whereas the company was being asked to make investment as per capacities originally envisaged under the Joint Venture Contract. Also, the Govt. of Bolivia did not provide the agreed contract area forsetting up the steel project till date.

In view of the aforesaid breaches of the Bolivian Government and its entities, the company intends to pursue international arbitration relating to the contract.

Bolivia: South American Silver Responds Strongly to Bolivian Government Statements

Jul 10, http://www.soamsilver.com/july-10-2012-news-release.asp

Vancouver, British Columbia – South American Silver Corp. today expressed extreme disappointment in statements made this evening by the Bolivian government that it intends to nationalize the company's development stage Malku Khota silver-indium-gallium project

South American Silver has not received any formal notice from the Bolivian Government about the cancellation of its concession and is actively seeking clarification about the government's intentions.

"We strongly object to the government's stated course of actions and we will pursue all legal, constitutional and diplomatic options,” said Greg Johnson, President and CEO of South American Silver.

This action is surprising in light of the fact the company continues to receive the support from the 43 out of 46 indigenous communities in the project area. South American Silver has worked closely with these local indigenous communities over the past several years providing significant direct employment on project related jobs, as well as jointly developing programs with the communities to facilitate job training, education, agricultural enhancement and water management for long-term sustainable development.

Since 2007 the company has invested well over $16 million in the discovery and exploration of the Malku Khota site. South American Silver's proprietary leach technology, developed over the past 4 years on the project, is key to development of the Malku Khota project to its fullest potential. Ongoing exploration and any future mine development would result in up to 1,000 jobs for local workers in the community.

Mining is a key industry in Bolivia and this proposed action by the state sends a strongly negative message to potential investors and developers about the security of title for their investment in the developing country.

The company continues development work at the Escalones Copper-Gold project in Chile and remains financially sound with over $38 million in cash reported as of the end of the first quarter.

Brazil's Petrobras Acquires Full Control Of Pasadena Refining Systems

Jul 03, http://www.morningstar.com/advisor/t/58653068/brazil-s-petrobras-acquires-full-control-of-pasadena-refining-systems.htm

"The agreement also ends the ongoing legal issue regarding the arbitration process that had recognized Astra's put option for PAI's ownership interest (50%) of PRSI and the Trading Company," it added.

Brazil: Casino's CBD Ordered Into Arbitration Over Globex Deal

June 15, http://www.reuters.com/article/2012/06/15/paodeacucar-globex-idUSL1E8HELOW20120615

Reuters - CBD (Grupo Pão de Açúcar), Brazil's largest retailer, announced that it has been called into arbitration over its 2009 acquisition of the Globex home appliances chain. The news was revealed in a securities filing, where the Casino-owned group said the move was initiated by the International Chamber of Commerce on behalf of Morzan Empreendimentos, which represented the owners of Globex's Ponto Frio chain before it was bought out.

Brazilian Government denies any intention to nationalize mineral deposits - PR Newswire - The Sacramento Bee

Jul 04, http://www.sacbee.com/2012/07/04/4610266/brazilian-government-denies-any.html

PRNewswire - The Brazilian government has no plans to intervene directly in the mining sector via a state company or to nationalize mineral deposits that might be deemed strategic to national interest, a senior government official in an exclusive interview published Wednesday by Brasil Mineral, the country's leading trade magazine for the sector.

Canada-Venezuela: Rusoro Reports Closing of Arbitration Costs Financing

June 15, http://www.rusoro.com/s/News_Releases.asp?ReportID=531505

Rusoro is pleased to announce that on June 15, 2012 it entered into a litigation funding agreement with a subsidiary (the "Funder"), of the Calunius Litigation Risk Fund LP (the "Fund"). Calunius Capital LLP is the exclusive investment advisor to the Fund which specializes in funding commercial litigation and arbitration claims. Calunius Capital LLP is authorized and regulated by the Financial Services Authority of the United Kingdom as an investment adviser. ClaimTrading Limited acted as broker in the transaction.

Under the terms of the litigation funding agreement, the Funder has agreed to assist in the funding of Rusoro's legal costs in relation to the international arbitration proceedings against the Republic of Venezuela (the "Respondent") on a non-recourse basis.

Rusoro will continue to have complete control over the conduct of the international arbitration proceedings, insofar as the proceedings relate to the Company's claims, and continues to have the right to settle with the Respondent, discontinue proceedings, pursue the proceedings to trial and take any action Rusoro considers appropriate to enforce judgment.

Under the terms of the privileged litigation funding agreement, the Company has given certain warranties and covenants to the Funder. In consideration for the provision of arbitration financing, Rusoro has agreed to pay to the Funder a portion of any final settlement of the arbitration claim against the Respondent (the "Funder's Fee"). The Funder's Fee shall only become payable upon a final settlement of the arbitration claim and the value of the Funder's Fee is dependent upon a number of variables including the value of any settlement and the length of time taken to reach a settlement. The agreement also provides that the amount of the Funder's Fee shall not exceed the amount of the aggregate proceeds of the arbitration claim under any circumstances.

Chili: Goldcorp announces dismissal of Barrick's claims against El Morro acquisition

Jun 26, http://www.goldcorp.com/Investor-Resources/News/News-Details/2012/Goldcorp-announces-dismissal-of-Barricks-claims-against-El-Morro-acquisition1130010/default.aspx

GOLDCORP INC. is pleased to announce that Ontario Court Justice Herman Wilton-Siegel has dismissed the claims of Barrick Gold Corporation ("Barrick") seeking to declare unlawful and ineffective the transactions announced by Goldcorp Inc. ("Goldcorp") and New Gold Inc. ("New Gold") on January 7, 2010 with respect to the acquisition of the El Morro project in Chile. Goldcorp acquired 70% of the El Morro project from a subsidiary of New Gold, which acquired the El Morro project from Xstrata ("Xstrata") pursuant to the exercise of a right of first refusal. The right of first refusal came into effect on October 12, 2009 when Barrick entered into an agreement with Xstrata to acquire Xstrata's 70% interest in the El Morro project. New Gold owns 30% of the project.

"We are pleased that the court has confirmed our position that our acquisition of El Morro was completely proper and consistent with the relevant agreements and Chilean law and that Goldcorp's 70% ownership share of the project has now been clarified for our shareholders," said Chuck Jeannes, Goldcorp President and Chief Executive Officer.

El Morro is a copper-gold development project located in the Huasco Province, Atacama region of northern Chile, approximately 800 km north of Santiago. Proven and probable gold reserves at December 31, 2011 totaled 5.84 million ounces of gold and 4.36 billion pounds of copper on a 70% basis.

As previously announced, El Morro site development and construction activities have been suspended since April 30, 2012 pending the correction by the Chilean environmental permitting authority (the Servicio de Evaluación Ambiental, or SEA) of certain deficiencies specifically identified by a decision of the Antofogasta Court of Appeals. On June 22, 2012, the SEA initiated the administrative process to address the issues identified by the Court. The Company continues to work with Chilean authorities and local communities to correct the deficiencies. During the suspension period, Goldcorp will continue to evaluate opportunities to enhance the economics of the project.

Chili: Ontario Superior Court Rules in El Morro Case

Jun 26, http://barrick.com/News/PressReleases/PressReleaseDetails/2012/Ontario-Superior-Court-Rules-in-El-Morro-Case1130013/default.aspx

TORONTO - The Ontario Superior Court of Justice issued its ruling today with respect to the El Morro mining project, finding against the position of Barrick Gold Corporation (NYSE:ABX)(TSX:ABX).

Barrick continues to believe that New Gold Inc. improperly exercised its right of first refusal, unlawfully interfering with the company's right to acquire a 70 percent interest in the El Morro mining project from Xstrata Copper Chile S.A. Barrick will review the Court's ruling in detail and will consider its options, including a possible appeal in this case.

China-Taiwan: More talks needed on Taiwan-China investment protection pact: VP

Jun 24, http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type=aIPL&ID=201206240015

CNA - Further negotiations are needed on a planned Taiwan-China investment protection agreement to better protect the interests of Taiwanese businessmen in China, Vice President Wu Den-yih said Sunday.

China: Qianhai poised to be hub of cooperation

Jun 30, http://www.chinadaily.com.cn/business/2012-06/30/content_15538738.htm

Professionals in Hong Kong will be allowed to practise in Qianhai, and Hong Kong professionals who obtained the certification of Chinese Certified Public Accountant will be allowed to become partners of mainland accounting firms. Arbitration institutions in Hong Kong will be allowed to explore ways to establish affiliates in Qianhai, while the cooperation between mainland and Hong Kong law firms will also be improved.

China: Shenzhen Court of International Arbitration Unveiled

June 18, http://www.individual.com/storyrss.php?story=158839326&hash=4639fd5cbcdd09dd09308466ca81a91b

SinoCast Daily Business Beat via COMTEX - The Shenzhen Court of International Arbitration was unveiled on June 16. ... As agreed for the cooperation, Shenzhen Qianhai Administration Bureau and Shenzhen Court of International Arbitration will jointly set up a platform for solving business disputes. In views of Guangdong-Hong Kong economic development, Shenzhen Court of International Arbitration will, within Qianhai Bay Shenzhen Hong Kong Modern Service Cooperative Zone, provide arbitration, mediation, negotiation facilitation, and expertise review services to concerned parties, either foreign or domestic ones.

Commerce Group Corp - ICSID: Ad Hoc Committee Grants the Company a Ten-Day Extension

Jul 16, http://www.sec.gov/Archives/edgar/data/109757/000010975712000003/frm8k71612.txt

On June 18, 2012, Commerce Group Corp. (the "Company") and San Sebastian Gold Mines, Inc., an affiliate which is 82 1/2% owned by the Company, submitted a request for additional time to the International Centre for Settlement of Investment Disputes ("ICSID") to pay the $150,000 advance deposit requested by ICSID to cover the cost of the hearing on the Application for Annulment. On June 21, 2012, the Government of El Salvador ("GOES") objected to the request. Both the request and objection were forwarded to the annulment committee and can be viewed on the Company's website (www.commercegroupcorp.com).

On July 10, 2012, the Secretary-General of ICSID informed the Company via e-mail that after due deliberation, the ad hoc Committee has decided to grant a one-time extension of ten days. Accordingly, the Company must pay the outstanding advance payment of $150,000 by Friday, July 20, 2012 to avoid discontinuance of the proceeding.

For additional information about the Company's claims against the Government of El Salvador, reference is made to the Company's 8-Ks that were filed with the Securities and Exchange Commission on March 18, 2009, July 2, 2009, July 2, 2010, August 19, 2010, September 17, 2010, March 15, 2011, July 14, 2011, November 21, 2011, December 20, 2011 and June 22, 2012.

Cuba to reform foreign investment law this year « Cuba Standard, your best source for Cuban business news

Jul 09, http://www.cubastandard.com/2012/07/06/cuba-to-reform-foreign-investment-law-this-year/

The government is planning to modify its foreign investment law before the end of the year, a foreign trade ministry official said during an international accounting congress in Havana, according to official news agency AIN. The changes may allow foreign investors to hire Cuban employees directly.

Denmark Becomes a Party to Part II (Formation of the Contract) of the United Nations Convention on Contracts for the International Sale of Goods (CISG)

Jul 06, http://www.unis.unvienna.org/unis/pressrels/2012/unisl168.html

UN Information Service - On 2 July, Denmark completed the process to become a party to Part II of the United Nations Convention on Contracts for the International Sale of Goods (CISG). This action takes effect on 1 February 2013, and, from that point forwards, Denmark will apply both CISG Part II, which covers the formation of contracts, and CISG Part III, which covers the obligations of buyers and sellers. This development will not affect the exclusion of the CISG in situations where all contracting parties have their places of business in the five Nordic States (Denmark, Iceland, Finland, Norway and Sweden).

Denmark accepts the provisions on contract formation by withdrawing a declaration, made upon signing the CISG in 1981, that it would not be bound by Part II. Denmark's action is part of a current trend for States to reconsider declarations made upon signing or acceding to the CISG. Withdrawal of these declarations increases the level of legal uniformity in the scope of application of the convention. Finland and Sweden have recently lodged treaty actions similar to those of Denmark. (See press releases UNIS/L/164 of 1 June 2012 and UNIS/L/162 of 22 May 2012.)

The United Nations Convention on Contracts for the International Sale of Goods provides an equitable and modern uniform framework for the contract of sale, which is the backbone of international trade in all countries, irrespective of their legal tradition or level of economic development. The CISG is therefore considered to be one of the core conventions in international trade law.

The CISG, which has been adopted by a large number of major trading countries, establishes a comprehensive code of legal rules governing the formation of contracts for the international sale of goods, the obligations of the buyer and seller, remedies for breach of contract and other aspects of the contract. The CISG has currently 78 State Parties.

Dubai racecourse saga takes a turn with Dh3.5 billion Meydan legal suit

Jul 02, http://www.thenational.ae/business/property/dubai-racecourse-saga-takes-a-turn-with-dh3-5-billion-meydan-legal-suit

Meydan has launched a Dh3.5 billion (US$952.8 million) legal claim against the UAE builder Arabtec and the Malaysian contractor WCT over the construction of the racecourse that hosts the Dubai World Cup.

Ecuador Must Live Up to Its Obligations Under Trade and Investment Agreements - NAM

Jun 27, http://www.shopfloor.org/2012/06/ecuador-must-live-up-to-its-obligations-under-trade-and-investment-agreements/25391?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+shopfloor%2FTDOl+%28Shopfloor%29

Late last week the National Association of Manufacturers (NAM) sent a letter to Deputy National Security Advisor for International Economic Affairs Michael Froman about manufacturers concerns over Ecuador's disregard of its obligations under the Bilateral Investment Treaty (BIT) and recent findings of the International Tribunal.

El Salvador: Pacific Rim Mining locked in closely watched fight with El Salvador

Jun 20, http://www.theglobeandmail.com/report-on-business/industry-news/the-law-page/pacific-rim-mining-locked-in-closely-watched-fight-with-el-salvador/article4353332/

Interview with Tom Shrake who heads Vancouver-based Pacific Rim Mining Corp. This month, he got a green light to keep fighting for that plan from a World Bank investment tribunal in Washington - a fight being watched closely by the mining industry, international trade lawyers and anti-mining activists.

Estonian Parliament passed the draft of act of amending the Natural Gas Act on May 6, 2012

June 6, http://www.gaas.ee/index.php?article_id=125&page=12&action=article&

Estonia has been granted an exception in the question of separation of the gas network ownership with the third Natural Gas Directive. At the same time the Estonian gas market has been open by 92 % since 1998 and by 100% since 2007, and all bidders have been ensured access to the gas network on an equal footing. Sales activities and network activities have been legally separated, thereby meeting the goals of the second Natural Gas Directive in 2006.

Regardless of the actual situation on the gas market, the Estonian Parliament passed the draft of act of amending the Natural Gas Act on May 6, 2012, according to which AS Eesti Gaas is obliged to expropriate its natural gas distribution network by January 1, 2015. If the pipelines are not sold, AS Eesti Gaas faces a large fine. Thus the Parliament chose the option of a complete separation of ownership out of the three options permitted in the Natural Gas Act of 2009. Thereby the State dismissed the proposition of AS Eesti Gaas to choose the ITO model, which is commonly applied in countries where the gas network is owned entirely by private entrepreneurs. The state also holds no shares in AS Eesti Gaas.

The authors of the draft and persons directly interested have purposefully misled the public with the claim that this is not an expropriation. From the legal point of view, this is an expropriation regardless of whether an expropriation is processed to transfer the property of Eesti Gaas or Eesti Gaas is forced to transfer the natural gas distribution network on the penalty of a fine.

During the draft process, the deficiencies in the draft have been pointed out and referred to the need to thoroughly consider the legal solutions offered by the National Audit Office, Estonian Foreign Policy Institute, Academy of Sciences and the Chancellor of Justice. The parliament's department of law and analytics is of the opinion that the draft is unconstitutional.

As the critique on the draft has not been taken into account, Eesti Gaas appeals to the President of the Republic with a request to refuse to proclaim the act for the reason of being unconstitutional.

An expropriation is a highly intensive interference with the fundamental right of ownership which therefore must be in proportion with the goal that has been set. The authors of the draft justify the act that was passed today as necessary to open the gas market. According to § 32 and 11 of the Constitution, such an expropriation is not consistent, as this goal could be met by using other models of separation of the distribution network that would interfere with the ownership rights of Eesti Gaas considerably less. The justifications by the authors of the draft for not employing other, less interfering means, is forced as it does not consider the experience of other European Union member states. Austria, the Czech Republic, Slovenia, France, Germany and Hungary have opened the gas market using the other, so-called ITO model, and the appropriateness of that model has to this date been positively evaluated and confirmed by the European Commission. However, the authors of the draft ignore the real situation and claim that the possibilities of ISO and ITO were only included into the Natural Gas Directive as a result of the gas company's lobbying and that it would be possible to manipulate with the gas market if ISO and ITO models were employed.

Falklands: President Kirchner refuses invitation to talk to people of the Falkland Islands

June 15, http://www.falklands.gov.fk/news/2012/06/president-kirchner-refuses-invitation-to-talk-to-people-of-the-falkland-islands/

The Falkland Islands Government is "incredibly disappointed" that despite claims of only wanting to sit down and discuss the Falkland Islands, President Kirchner has refused to accept an invitation from the Falkland Islands Government to do just that.

Letter: http://www.falklands.gov.fk/assembly/documents/C24LetterPresKirchner.doc

Finland's TVO says nuclear reactor not ready in 2014

Jul 17, http://phys.org/news/2012-07-finland-tvo-nuclear-reactor-ready.html

Finnish electricity company TVO revealed on Monday a new delay in the operation of an EPR nuclear reactor being built by Areva and Siemens which is already five years late.

Finnish power consortium to pay French Areva

Jul 06, http://yle.fi/uutiset/finnish_power_consortium_to_pay_french_areva/6208099

The arbitration tribunal of the International Chamber of Commerce has ordered Teollisuuden Voima (TVO) to pay 125 million euros to the French nuclear plant builder Areva. The companies continue to be at loggerheads over delays affecting the project.

France recognizes ICAC award worth $232 mln against NLMK

June 18, http://rapsinews.com/judicial_news/20120618/263484129.html

RAPSI - A Parisian court has recognized the International Commercial Arbitration Court (ICAC) at the Russian Chamber of Commerce and Industry ruling to collect $232 million from Novilipetsk Steel (NLMK) for Maxi-Group founder Nikolai Maximiv, his lawyer Vladimir Melnikov told the Russian Legal Information Agency.

German investor loses Kc 4 bln arbitration vs Czech state over CE Wood

June 8, http://www.ceskapozice.cz/en/business/companies/german-investor-loses-kc-4-bln-arbitration-vs-czech-state-over-ce-wood

The Czech Republic has won an arbitration case filed by a German investor who had accused the country of breaching a bilateral investment treaty and claimed it sustained serious losses to its shareholdings in a Czech forestry company.

Germany: Eon seeks €8bn over nuclear phase-out

June 13, http://www.ft.com/intl/cms/s/0/485529b0-b559-11e1-ad93-00144feabdc0.html

Eon, Germany's largest utility by sales, is to seek €8bn in damages from the German government for the accelerated phase-out of nuclear energy, should the country's constitutional court deem the policy shift an illegal act of expropriation.

Ghana and US to sign Bilateral Investment Treaty

Jul 12, http://www.globaltimes.cn/content/720623.shtml

Preparations are underway for Ghana to initial a Bilateral Trade Treaty with the United States. A delegation from the Executive Office of the US Trade Representative therefore started off a two-day discussion here on Wednesday with their Ghanaian counterparts on details of the treaty. Addressing the opening session of the discussions, the US Trade Representative, Ron Kirk noted that Ghana was one of the key future partners of the United States, hence the need for such a treaty.

Ghana's €94m judgment debt to CP: Betty Mould took right legal steps - AG

June 13, http://www.ghanabusinessnews.com/2012/06/13/ghanas-e94m-judgment-debt-to-cp-betty-mould-took-right-legal-steps-ag/

The Attorney-General and Minister of Justice, Dr Ben Kunbuor, yesterday told the Public Accounts Committee (PAC) of Parlia-ment that in the light of circumstances and the documents he had come across, his pred-ecessor, Mrs Betty Mould-Iddrisu, took the right legal steps in arriving at the settlement of the 94 million euros judgement debt to Construction Pioneers (CP).

He explained that by October 10, 2006, a final award of €153 million had been made in favour of CP against the government by the International Court of Arbitration and the gov-ernment had no option but to submit to that rul-ing.

Ghana: More Judgment Debts to Hit the Nation

June 14, http://allafrica.com/stories/201206150197.html

The Attorney-General (A-G), Dr. Benjamin Kunbour on Tuesday walked majestically to the Public Accounts Committee (PAC) of Parliament and cautioned that if measures are not taken to arrest the rate at which individuals and corporate bodies were filing law suits against the government over judgment debts, the country would soon be left with no money in its Consolidated Fund.

Guatemala says arbitration panel with U.S. on hold

Jun 26, http://news.yahoo.com/guatemala-says-arbitration-panel-u-hold-234126325.html

Reuters - The United States has agreed to freeze an arbitration panel with Guatemala in order to informally settle accusations that the Central American nation has failed to protect workers' rights, Guatemala's economy minister said on Monday.

Guatemalan president says state will only participate in new mining, oil projects

Jul 05, http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=154540&sn=Detail&pid=102055

Responding to demands for withdrawal of his proposed constitutional amendment calling for up to 40% state ownership in mining projects, Guatemala's president said Article 125 was "misinterpreted."

Guyana oil exploration stirs up Venezuela border dispute

June 6, http://www.reuters.com/article/2012/06/06/us-venezuela-guyana-idUSBRE8551E720120606

Reuters - Venezuela's opposition accused the government on Wednesday of turning a blind eye to neighboring Guyana's oil exploration in a border region claimed by Venezuela, potentially inflaming a territorial dispute that dates back more than a century.

World Bank tribunal throws out USD 30 mn AES claim against Hungary

Jul 04, http://www.portfolio.hu/en/equity/world_bank_tribunal_throws_out_usd_30_mn_aes_claim_against_hungary.24492.html

The World Bank's International Center for Settlement of Investment Disputes (ICSID) has decided in favor of Hungary in a legal dispute initiated by AES, Hungary's Economy Ministry said on Wednesday.

Hong Kong: Hopes of Leung tobacco war grow

June 8, http://www.thestandard.com.hk/news_detail.asp?we_cat=4&art_id=123247&sid=36651603&con_type=1&d_str=20120608&fc=7

The combination of "people's chief executive" Leung Chun-ying and his possible "wingman" in the health department is raising hopes the government will take the next big step towards a smoke-free city.

That move is to ban "mini-billboard advertising" by imposing plain cigarette packaging

In light of the situation in El Salvador, IACHR emphasizes importance of the principle of independence of the Judiciary

Jul 16, http://www.oas.org/en/iachr/media_center/PReleases/2012/088.asp

In light of the situation in El Salvador, the Inter-American Commission on Human Rights (IACHR) emphasizes the importance of the principle of separation of powers and the independence of branches of government, as an essential component of the rule of law.

According to the information received, on April 24, 2012, the Legislative Assembly of El Salvador chose five magistrates of the Supreme Court of Justice through legislative decrees. It also designated one of them as Chair of the Constitutional Chamber, and ordered a transfer to another chamber of the Supreme Court for the magistrate who has that post. The information available indicates that on June 5, the Constitutional Chamber declared the legislative decrees issued by the Legislative Assembly unconstitutional. The Constitutional Chamber argued that the current Legislature had participarted in an election of magistrates, and that it would therefore be preventing the new Legislature to exercise its competences in the matter. It also argued that the transfer of the Chair of the Constitutional Chamber constituted a measure contrary to the guarantee of security of tenure of judges.

The Inter-American Commission has emphasized that one of the main objectives of the separation of powers is to guarantee the independence of judges. One essencial element in preventing abuses of power by other agencies of the state is a correctly functioning judiciary. An independent judicial branch is vital in overseeing the constitutionality of actions by other branches of government, as well as serving as the agency responsible for administering justice.

The guarantees necessary to ensure the correct and independent operation of the judicial branch include the mechanisms whereby judges are appointed, the stability they enjoy in their appointments, and their proper professional training. In addition, the courts must also be independent of the other branches of government – that is, free of all influence, threats, or interference, irrespecive of their origin.

The IACHR hopes that the diferences between the branches of government in El Salvador be overcome in full respect to the international standards in relation to the principle of separation of powers and independence of branches of government, an essential component of the rule of law. In addition, the Commission urges the State to ensure the necessary conditions for the correct functioning of the Judiciary.

A principal, autonomous body of the Organization of American States (OAS), the IACHR derives its mandate from the OAS Charter and the American Convention on Human Rights. The Inter-American Commission has a mandate to promote respect for human rights in the region and acts as a consultative body to the OAS in this area. The Commission is composed of seven independent members who are elected in an individual capacity by the OAS General Assembly and who do not represent their countries of origin or residence.

India-Pakistan: ICA Issues Stay Order, India Stops Work on Kishanganga Dam

Jul 13, http://www.pakistankakhudahafiz.com/2012/07/13/ica-issues-stay-order-india-stops-work-on-kishanganga-dam/

ISLAMABAD: The International Court of Arbitration has issued a stay order on the construction of Kishanganga Dam on the Neelum River at Gurez, Express News reported on Thursday. Express News had earlier reported that the international court has ruled in the favour of Pakistan.

India: Amend Arbitration Act: LawCom chief

Jul 10, http://www.indianexpress.com/news/amend-arbitration-act-lawcom-chief/972569/

Observing that arbitrators were charging "exorbitant" fee from parties in dispute, former Law Commission Chairman Justice A R Lakshmanan has said it was time the Centre steps in and brings about amendments to the Arbitration Act.

Arbitrators should not charge "exorbitant fees," Lakshmanan, who is also the chief of Indian Court of Sports Arbitration, said delivering the keynote address in a seminar on 'Road Ahead for Arbitration in India' here yesterday.

"I had an occasion to consider the amounts charged by the arbitrators as their remuneration and I had opined that it is time that the Central government steps in and brings about the amendments to the Arbitration Act, stipulating the rates of fees payable to the arbitrators."

India: CJI for mediation to solve disputes

Jul 09, http://www.indianexpress.com/news/cji-for-mediation-to-solve-disputes/971894/

Chief Justice of India S H Kapadia has said mediation is a sounder mechanism to resolve “complex” commercial disputes involving the pricing of natural resources like gas and oil as judges may lack the expertise and their decisions could affect the country’s economy.

India: DoT concerned over BIPA threats

Jun 20, http://www.telegeography.com/products/commsupdate/articles/2012/06/20/dot-concerned-over-bipa-threats/

According to the Economic Times, the DoT is looking for the attorney general's office to give its stance on whether foreign investors would be able to invoke bilateral investment protection agreements (BIPAs) to sue the Indian government and claim damages for the revocation of concessions.

India: Enforcement Directorate probing foreign investment worth Rs 8,000 cr in telecom sector

Jul 06, http://timesofindia.indiatimes.com/business/india-business/Enforcement-Directorate-probing-foreign-investment-worth-Rs-8000-cr-in-telecom-sector/articleshow/14703628.cms

NEW DELHI: At a time when India is scouting for foreign direct investment (FDI), one of its revenue intelligence agencies, Enforcement Directorate, has issued show cause notices to foreign investors to the tune of Rs 8,000 crore in the telecom sector alone on allegations of violating FDI norms.

India: FinMin rejects Vodafone rejoinder

Jul 10, http://www.business-standard.com/india/news/finmin-rejects-vodafone-rejoinder/479974/

The finance ministry has turned down Vodafone’s rejoinder seeking an undertaking that retrospective amendments in the law would not apply to the company’s Rs 12,000-crore tax case. The ministry would now send a reply to the telecom major after securing the approval of Prime Minister Manmohan Singh.

India: L&T files for arbitration vs Zuari Cement

Jul 06, http://www.expressindia.com/latest-news/lt-files-for-arbitration-vs-zuari-cement/970414/

Mumbai India's largest diversified engineering and construction company Larsen & Toubro (L&T) has filed for arbitration proceedings against cement maker Zuari Cement, a fully-owned subsidiary of Italian cement major Italcementi Group, to claim Rs 188.53 crore in unpaid bills and payment delays, two people with direct knowledge of the development said.

India: Lord Goldsmith QC - 'India cannot sidestep obligation under bilateral treaties'

Jul 06, http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3606689.ece?ref=wl_industry-and-economy

The Government cannot sidestep its obligation under bilateral international treaties (BIT) by saying that the decision to cancel 2G licences was taken by the Supreme Court, according to Lord Goldsmith QC, former Attorney General of UK.

India: Moily asks PM to reconsider retro tax amendment

June 18, http://business-standard.com/india/news/moily-asks-pm-to-reconsider-retro-tax-amendment/175170/on

Joining the chorus against the retrospective tax amendment, Corporate Affairs Minister Veerappa Moily has asked the Prime Minister to reconsider the move as it would impact foreign investment.

India: New panel to oversee issues of bilateral investment pacts

June 18, http://economictimes.indiatimes.com/news/economy/policy/new-panel-to-oversee-issues-of-bilateral-investment-pacts/articleshow/14223510.cms

NEW DELHI: The government will form a committee headed by cabinet secretary to handle broader issues involving foreign investments made under bilateral pacts with other countries.

India: OilMin proposes former CJI Khare as its arbitrator in RIL row

Jun 22, http://businesstoday.intoday.in/story/ril-kg-basin-gas-arbitrator/1/185715.html

The ministry wants to penalise RIL for 25.33 million standard cubic meters per day (mmscmd) output from the main fields in KG-D6 falling way short of 80 mmscmd target.

India: Payback Time? Loop Telecom seeks investment refund

Jul 17, http://www.tele.net.in/trends-a-developments/item/10332-payback-time?-loop-telecom-seeks-investment-refund

The Supreme Court’s February 2012 judgment cancelling 122 2G telecom licences that were awarded in 2008 continues to impact the Indian telecom sector. Among the new players that lost their licences, S Tel and Etisalat have already shut shop and exited the market, and are unlikely to participate in the upcoming 2G spectrum auctions. Norway-based Telenor and Russia’s Sistema have invoked their bilateral treaties with the Indian government and threatened international arbitration to defend their investments in Uninor and Sistema Shyam TeleServices Limited respectively.

The latest to join the bandwagon is Loop Telecom. The company has approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) to seek a refund of over Rs 47 billion from the government.

India: Reliance Power seeks arbitration against distribution cos

Jul 02, http://www.moneycontrol.com/news/business/reliance-power-seeks-arbitration-against-distribution-cos_725064.html

Reuters - Reliance Power ltd said it has filed for arbitration against 11 state distribution companies which had contracted to buy power from its delayed 4000-MW power project in Andhra Pradesh.

India: RIL says may be forced to seek damages from govt

June 13, http://www.business-standard.com/india/news/ril-says-may-be-forced-to-seek-damagesgovt/477154/

In a letter to the petroleum ministry last week, the company's legal counsel, A S Dayal & Associates, said uncertainty resulting from the denial of approvals to the company's capex programmes and budgets for FY12 and FY13 had an "adverse impact" on petroleum operations and could directly contribute to a further decline in production. "It is extraordinary, particularly given the government's duties to the nation to maximise production, that you maintain your refusal to provide requisite approvals," the letter stated.

India: Sistema case: Govt for amicable settlement

Jun 21, http://www.thehindubusinessline.com/industry-and-economy/economy/article3551341.ece

The Centre is mulling a "negotiated amicable settlement" in the case related to the cancellation of 2G licences of Sistema Shyam TeleServices Ltd (SSTL). It is learnt that this approach would be conveyed to the Russian Government during the bilateral talks in Moscow starting Thursday. The Indian side will be led by the Commerce, Industry and Textiles Minister, Mr Anand Sharma. The Russian Government and Sistema hold around 74 per cent in SSTL.

India: Sistema Shyam Teleservices to cease all investments in MTS voice business

June 16, http://articles.economictimes.indiatimes.com/2012-06-16/news/32269152_1_sstl-president-ceo-vsevolod-rozanov-mts-india

BANGALORE: Russia-backed mobile operator Sistema Shyam Teleservices on Friday said it has decided to cease all investments in its voice business, which has about 15 million customers in India, till the time spectrum auctions take place in India.

India: Telenor and Unitech to look for amicable split

Jul 17, http://www.telegeography.com/products/commsupdate/articles/2012/07/16/telenor-and-unitech-to-look-for-amicable-split/

Telenor of Norway and its Indian joint venture partner Unitech have begun talks to move towards an out-of-court settlement to end their bitter dispute over the future of wireless operator Uninor. According to the Economic Times, which cites a source with direct knowledge, the heads of Telenor India and Unitech met to discuss an amicable exit from their joint venture. As previously noted by CommsUpdate, Telenor sought to end its partnership with Unitech following the cancellation of Uninor’s operating licences in February this year. Telenor intends to continue operations in India with a new partner, if the terms for the spectrum auction are deemed reasonable, but has been blocked by Unitech which fears that Telenor will transfer the joint venture’s assets to another company. The two have been embroiled in a bitter legal dispute over the split.

Indonesia gets ready for British mining company's US$1.8b suit

Jul 05, http://www.asianewsnet.net/home/news.php?id=32978

"Today the team talked about preparations for the legal suit. We are learning about our strengths and weaknesses, and we are cross checking all available data that we have," Deputy Energy and Mineral Resources Minister Rudi Rubiandini told reporters late yesterday.

Indonesia: Churchill case reflects weakness of mining policy: Analysts

Jul 02, http://www.thejakartapost.com/news/2012/06/30/churchill-case-reflects-weakness-ri-mining-policy-analysts.html

The ongoing legal conflicts between London-listed Churchill Mining Plc. and the East Kutai regency authority in East Kalimantan reflects the weakness of the country's mining policy, analysts say.

Indonesia: Churchill Mining receives written confirmation of Supreme Court decision in Indonesia

June 14, http://www.proactiveinvestors.co.uk/companies/news/44133/churchill-mining-receives-written-confirmation-of-supreme-court-decision-in-indonesia-44133.html

The company revealed in April that notations on the register of the Supreme Court showed the court intended to reject the appeal. The company revealed in April that notations on the register of the Supreme Court showed the court intended to reject the appeal.

Churchill Mining (LON:CHL) today said it was actively moving forward with its international arbitration claim after it received written confirmation that its appeal in the Indonesian Supreme Court had failed.

The company revealed in April that notations on the register of the Supreme Court showed the court intended to reject the appeal.

"We are disappointed in the written decisions confirming the rejection of our appeal," said chairman David Quinlivan.

"We are underway with the International Arbitration claim against the Republic of Indonesia to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."

The firm has been entrenched in a legal battle against the Indonesian government.

Churchill says it has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia.

The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.

The 'expropriation campaign', as Churchill calls it, centres on the cancellation of licences that host the East Kutai coal project by regional authorities that govern the East Kalimantan province, the area on the island of Borneo where the project is found.

The decision from the Supreme Court affirms that the decrees of the Regent of East Kutai revoking the mining licences were validly issued, Churchill said today.

Churchill has already filed a claim at the International Centre for Settlement of Investment Disputes (ICSID) in Washington against the Republic of Indonesia. It told investors that it will provide updates on the progress of the international arbitration claim when available.

It also said today that it will, when it is appropriate, provide an update on steps it may take in relation to a possible Civil Review of the Supreme Court's decision.

Indonesia: SBY frets over int'l arbitration

Jun 29, http://www.thejakartapost.com/news/2012/06/29/sby-frets-over-int-l-arbitration.html

President Susilo Bambang Yu-dhoyono is telling his ministers to prepare for the worst after the government recently entered into arbitration with an international mining company.

Iran suspends gas supply to Turkey

Jul 02, http://en.trend.az/capital/energy/2041451.html

Iran has cut the natural gas supply to Turkey, Minister of Energy and Natural Resources Minister Taner Yildiz said, the newspaper Sabah reported.

Iran to sue over Euro, U.S sanctions in the Hague

Jul 03, http://www.tehrantimes.com/economy-and-business/99315-iran-to-sue-over-euro-us-sanctions-in-the-hague

TEHRAN : Iran may take legal action at the International Court of Justice (The Hague) against U.S.-led sanctions, the president of Iran's Chamber of Commerce, Industry, Mines and Agriculture said on Tuesday.

Iraq-Japan: Signing of Bilateral Investment Agreement between Japan and the Republic of Iraq / Ministry of Economy, Trade and Industry (METI)

Jun 7, http://www.meti.go.jp/english/press/2012/0607_04.html

On June 7, 2012, Japan and the Republic of Iraq signed the "Agreement between Japan and the Republic of Iraq for the Promotion and Protection of Investment" (the "Japan-Iraq Investment Agreement").

Jersey: Demand for action on Third World debt

June 11, http://www.thisisjersey.com/news/2012/06/11/demand-for-action-on-third-world-debt/

Deputy Montfort Tadier has tabled a States question for Chief Minister Ian Gorst about the progress in bringing forward a law to stop the funds using Jersey courts.

Vulture funds buy up Third World debt at a fraction of its face value and then use courts around the world to force poor countries with assets in that jurisdiction to pay up.

One case involving the Jersey courts and a Congolese mining company has recently reached the UK Supreme Court, drawing protesters who lined the Westminster pavement with placards for the start of the hearing.

Jim Yong Kim: New Chairman of the ICSID Administrative Council

Jul 05, http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&actionVal=OpenPage&PageType=AnnouncementsFrame&FromPage=Announcements&pageName=Announcement107

Jim Yong Kim, M.D., Ph.D. became the Chairman of the ICSID Administrative Council on July 1, 2012. A biography of Dr. Kim can be found here.

Kazakhstan wins arbitration proceeding versus Caratube company

June 11, http://en.trend.az/capital/energy/2035916.html

On June 5 the arbitral tribunal of the International Centre for Settlement of Investment Disputes (ICSID) adopted the decision on Caratube International Oil Company LLP (CIOC) versus Kazakhstan case, Kazakh Ministry of Justice reported on Monday. The ICSID rejected the claims of CIOC and ordered the company to pay $3.2 million in favor of Kazakhstan as a compensation for arbitration costs.

Kazakhstan: Energy Firms Launch Bribe Probes

June 6, http://online.wsj.com/article/SB10001424052702303296604577450442633804840.html

Eni, Chevron, BG Group Investigating Whistleblower's Allegations of Payments to Kazakh Officials

Kyrgyzstan: Centerra Comments on Non-Binding Kyrgyz Parliamentary Resolution

Jun 27, http://www.centerragold.com/sites/default/files/news-releases-en/cg-06272012-en.pdf

Toronto, Canada, June 27, 2012: Centerra Gold Inc. (TSX: CG) reported that the Kyrgyz Parliament issued a resolution today concerning Centerra's Kumtor project. The resolution relates to a report released on June 18, 2012 by a Parliamentary Commission established to review Kumtor's compliance with relevant operational, environmental, health and safety and community standards.

The resolution calls for the creation of a state commission to conduct a comprehensive and impartial examination of the parliamentary report and its conclusions, and to initiate revisions to the 2009 agreements governing the project (the New Agreements) that would impact the relevant concession area, tax regime, local operating company management structure and other matters, although the resolution does not contain any specifics regarding any such proposals. The resolution also calls upon the Government (or relevant state agency) to revoke government decrees and licenses in relation to the project. The Parliament voted to reject an alternative resolution that called for the Government to take steps toward nationalization of the Kumtor project.

Centerra believes the resolution is not legally binding on the Kyrgyz Government and that the Government (and relevant state agency) cannot revoke its decrees and licenses without meeting the relevant criteria for revocation set out under applicable law.

Centerra's President and CEO, Ian Atkinson, commented: "As I have stated previously, Centerra believes that the parliamentary report's findings are without merit. Kumtor has operated in full compliance with Kyrgyz and international standards and this has been proven over the years in systematic audits by Kyrgyz and international experts. We also have a long history of constructive dialogue with the Government and look forward to continuing that dialogue to resolve any outstanding concerns. We believe, however, that any discussion of the Kumtor project must take into account existing legal obligations and binding commitments. In particular, the Kyrgyz Government undertook a number of legal obligations and binding commitments in the New Agreements, which were approved by all relevant Kyrgyz governmental authorities, including the Kyrgyz Parliament and the Constitutional Court. These agreements form a solid foundation for the successful operation of the project, and enabled Centerra to make significant new investments in Kumtor. Centerra has confidence in the continuing validity of the New Agreements, which provide as well for disputes concerning the project to be resolved by international arbitration, if necessary."

Kyrgyzstan: Centerra Hosts visit by Kyrgyz Prime Minister to Kumtor Mine

July 6, http://www.centerragold.com/sites/default/files/news-releases-en/cg-07062012-en.pdf

Toronto, Canada, July 6, 2012: Centerra Gold Inc. (TSX: CG) today hosted a visit by Kyrgyz Prime Minister Babanov to the Kumtor mine, including a tour of the mine and mill facilities. This was the Prime Minister's first visit to the project and he was joined by members of the State Commission recently established by the Government following a Parliamentary report and resolution relating to Kumtor.

Kumtor management and Ian Atkinson, Centerra's President and Chief Executive Officer, accompanied the Prime Minister on the tour. Following the tour the Prime Minister indicated his desire for Kumtor and the Company to work together with the State Commission and Government to address the environmental matters raised in the parliamentary report and the other issues identified in the resolution.

The Prime Minister also provided clarification regarding a Governmental decree issued yesterday cancelling a prior decree granting Kumtor certain surface rights in relation to the project. He confirmed the Government's position that yesterday's action to cancel the prior decree would have no impact on or limit in any way Kumtor's activities or operations.

In 2009, Centerra, Kumtor Gold Company and the Kyrgyz Republic signed comprehensive agreements governing all aspects of the project (the New Agreements). The New Agreements were approved by all relevant Kyrgyz governmental authorities, including the Kyrgyz Parliament and the Constitutional Court, and form a solid foundation for the successful operation of the Kumtor project. All disputes in relation to the New Agreements are subject to international arbitration.

Kumtor is a significant employer and tax-payer in the Kyrgyz Republic and a key contributor to the Kyrgyz economy. The Company has benefited from a close and constructive dialogue with the Kyrgyz authorities over many years and remains committed to continuing to work with them to resolve any issues in accordance the New Agreements

Kyrgyzstan: Kyrgyz parliament proposes review of Kumtor agreement

Jun 27, http://www.interfax.com/newsinf.asp?id=343047

Interfax - The parliament of Kyrgyzstan on Wednesday reviewed a report from a temporary deputy commission investigating the activities of Kumtor Operating Company (KOC, the Centerra Gold Inc., operator of the Kumtor gold-ore deposit) and recommended the government set up a commission to look into information on rational use of natural resources, protecting the environment, production safety and social protection of the population.

LCIA Administrative charges

Jun 25, http://www.lcia.org/

For arbitrations and mediations commenced on or after 1 July 2012, the registration fees will be £1,750 and £750, respectively, and the maximum hourly rate that arbitrators and mediators appointed by the LCIA may charge (other than in exceptional cases) will be £450.

The registration fee payable with a request for the LCIA to act as appointing authority only, on or after 1 July 2012, will be £1,250.

The LCIA remains committed to providing first class and cost effective administrative service.

Lithuania Spearheads Gas Independence Movement | Business

Jul 06, http://www.themoscowtimes.com/business/article/lithuania-spearheads-gas-independence-movement/461671.html

Flat, featureless Pig's Back island off Lithuania is where the country hopes to moor a gas terminal in 2014 and escape total reliance on supplies from Russia, two decades after the Baltic states threw off Moscow's political rule.

Malaysia: CIPAA receives Royal Assent

June 27, http://www.rcakl.org.my/scripts/list-posting.asp?recordid=272

The Construction Industry Payment and Adjudication Act (CIPAA) 2012 has received the Royal Assent on 18 June 2012 and was gazetted on 22 June 2012. It is available in English and Bahasa Malaysia. KLRCCA is the adjudication authority under section V section 32 of CIPAA.

Malaysia: The latest KLRCA Arbitration Rules will come into force on 2 July 2012

June 15, http://www.rcakl.org.my/scripts/list-posting.asp?recordid=271

The latest KLRCA Arbitration Rules will come into force on 2 July 2012. The Rules is an update of KLRCA's 2010 Arbitration Rules and have been revised after taking into account the Centre's administrative experiences, as well as feedback from relevant stakeholders, including parties to arbitration proceedings, case administrators, legal professionals and arbitrators. The revision is also timely, following provisions of the Arbitration Amendment Act 2011 that emphasise the courts' non-interventionist and pro-enforcement stance, which were enforced in July 2011. To view the latest KLRCA Arbitration Rules, visit www.rcakl.org.my

Mauritania launches strategy to attract investment

Jun 28, http://www.magharebia.com/cocoon/awi/xhtml1/en_GB/features/awi/features/2012/06/28/feature-04

"The new Investment Code is part of the global strategy to promote and develop the private sector, entrepreneurship and the competitiveness of the national economy," the Council of Ministers announced on June 21st.

Mexico: Cemex Wins Arbitration Over Sale of Some European Assets

Jun 12, http://www.euroinvestor.com/news/2012/06/12/mexico-cemex-wins-arbitration-over-sale-of-some-european-assets/12017462

Mexican cement and building materials company Cemex SAB said Monday that an arbitration court has ordered Austria's Strabag SE (SBAGY) to pay Cemex EUR30 million ($37.1 million) plus interest and other costs after the European company pulled out of a 2008 agreement to buy Cemex assets in Austria and Hungary. Cemex, of Monterrrey, said in a filing with the Mexican stock exchange that the International Arbitration Court of the International Chamber of Commerce ruled on May 31 that Strabag's termination of the agreement was invalid, and that the sides were notified on June 1.

Mexico: Telefonica seeks int'l arbitration over Mexico interconnect fees

Jun 27, http://www.tmcnet.com/usubmit/2012/06/27/6401909.htm

COMTEX - Spain's Telefonica has filed a 500 million euro ($623 million) international arbitration claim against Mexico, saying the lower fees rivals are allowed to pay to connect to its local unit's network have hurt its ability to invest.

Mongolia: SouthGobi Resources Ltd. announces Notice of Investment Dispute filed against Mongolian Government

Jul 11, http://www.southgobi.com/i/pdf/2012-07-11_NR.pdf

HONG KONG - SouthGobi Resources Ltd. announced today that SGQ Coal Investment Pte. Ltd., a wholly owned subsidiary of SouthGobi that owns the Company's Mongolian operating subsidiary SouthGobi Sands LLC ("SGS"), has filed a Notice of Investment Dispute on the Mongolian Government pursuant to the Bilateral Investment Treaty ("BIT") between Singapore and Mongolia. The Company has filed the Notice of Investment Dispute following a determination by management that they have exhausted all other possible means to resolve an ongoing investment dispute between SGS and the Mongolian authorities.

The Notice of Investment Dispute consists of, but is not limited to, the failure by the Mineral Resources Authority of Mongolia to execute the pre-mining agreements ("PMAs") associated with certain exploration licenses of the Company pursuant to which valid PMA applications had been lodged in 2011. The areas covered by the valid PMA applications include the resource known as Zag Suuj and certain areas associated with the broader Soumber Deposit.

The Notice of Investment Dispute triggers the dispute resolution process under the BIT whereby the Mongolian Government has a six-month cure period from the date of receipt of the notice to satisfactorily resolve the dispute through negotiations. If the negotiations are not successful, the Company will be entitled to commence conciliation/arbitration proceedings under the auspices of the International Centre for Settlement of Investment Disputes ("ICSID") pursuant to the BIT. However in the event that the Mongolian Government fails to negotiate, ICSID arbitration proceedings may be accelerated before the six (6) months have expired.

About SouthGobi Resources

SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia's South Gobi Region. The company's flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.

Myanmar: Amended foreign investment law set for July 4 parliament session

Jun 25, http://www.mmtimes.com/2012/business/632/biz63203.html

MYANMAR'S amended Foreign Investment Law will be resubmitted to parliament on July 4, Dr Kan Zaw, Deputy Minister for National Planning and Economic Development, said last week.

Myanmar: Foreign companies wait on Burma's new investment law

Jul 19, http://www.mizzima.com/business/7561-foreign-companies-wait-on-burmas-new-investment-law.html

Two top Burmese government officials attending a business conference in Singapore said foreign companies are ready to "flood" into Burma upon the completion of the government's new foreign investment law, which is expected sometime in the next two months.

Nationalised oil can deliver output growth

June 15, http://www.reuters.com/article/2012/06/15/oil-nationalisations-idUSL5E8HEDXH20120615

Saudis, Russians show state-run output can grow; Jury out over Venezuela; Argentina may not find it so easy

New Zealand: EQC Establishes Independent Mediation Service Administered by AMINZ

Jun 25, http://www.aminz.org.nz/Story;jsessionid=A5F749E027C600836BB854CDFB934C30?Action=View&Story_id=1561

Earthquake Commission customers will soon have access to an independent mediation service under an agreement between EQC and the Arbitrators and Mediators Institute of New Zealand (AMINZ).

Norway fights legal challenge from international tobacco giant

June 5, http://www.newsinenglish.no/2012/06/05/norway-fights-legal-challenge-from-international-tobacco-giant/

Norwegian authorities started defending themselves in an Oslo court this week against a challenge to their law that prevents the public display of tobacco products for sale. They're up again the US-based tobacco giant Philip Morris, which claims the Norwegian law hinders free trade of a legal product.

Pakistan not to challenge Indian Nimoo-Bazgo dam in ICA

Jul 18, http://www.sananews.net/english/pak-not-to-challenge-indian-nimoo-bazgo-dam-in-ica/

SANA - Pakistan has postponed the decision to challenge the controversial 45MW Nimoo-Bazgo hydropower project on the Indus River by India.

Pakistan: Islamabad's position in relation to Reko Diq project: Balochistan government to be held responsible if ICA rules in favour of TCC

Jun 25, http://www.brecorder.com/agriculture-a-allied/183/1205811/

Sources in the Ministry of Petroleum (MoP) told Business Recorder here on Monday that the Ministry has given following two proposals to the provincial government of Balochistan: first, the federal government will not pay any damages if the international court rules in favour of TCC and Balochistan should pay the compensation and secondly Balochistan should re-negotiate with TCC, which filed the case last year, and find an amicable settlement to the dispute.

Pakistan: US agrees to take disputes to Pakistani courts first

Jul 09, http://cnntopnews.com/us-agrees-to-take-disputes-to-pakistani-courts-first.htm

Amid calls to make public the draft of bilateral investment treaty, the government claims that it has gained much and lost nothing to the United States as Washington has agreed to first taking any business dispute to Pakistani courts for settlement.

Papua New Guinea: Nautilus aims to resolve mining dispute - Australian arbitrator chosen

Jul 17, http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=537228

Nautilus Minerals Inc. announces that in addition to preparing its response to the Notice of Arbitration received from the Independent State of Papua New Guinea (the "State"), it continues to attempt to work with the State in an effort to resolve matters amicably.

Nautilus and the State have agreed on the appointment of former Chief Justice of the High Court of Australia, the Honourable Murray Gleeson AC QC, as the arbitrator. The arbitration will be conducted in Sydney, Australia under UNCITRAL Arbitration Rules, and may take several months to conclude, provided that Nautilus and the State comply with the timetable set by the arbitrator and otherwise act in accordance with the Rules. The State has on 13 July 2012 also issued the Company with a Second Notice of Arbitration in relation to disputes concerning certain statements made by the parties and whether such statements were made in accordance with the Agreement dated 29 March 2011. The Company will respond to the Second Notice in accordance with the Arbitration Rules.

A resolution of this matter outside of the arbitration process will have to be ratified by the State's National Executive Counsel ("NEC"), pursuant to a recommendation by the State's nominated team. State elections are currently underway and it could be some months before a new NEC is formed and is able to meet.

Nautilus confirms its preference is to resolve matters without going through an arbitration process and it is taking steps to meet with the State's representatives with the aim of achieving this outcome.

Papua New Guinea: Nautilus CEO sees end to Papua dispute soon - Interview

Jun 21, http://uk.reuters.com/article/2012/06/21/idUKL1E8HLHMV20120621?feedType=RSS&feedName=tnBasicIndustries-SP

Reuters - CEO says Solwara 1 mine delayed for months, not year; Ownership issue seen resolved after elections; Vessel financing deal expected within next month.

Papua New Guinea: Nautilus continues discussions to resolve dispute with State of PNG

Jun 18, http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=531617

Nautilus Minerals Inc. announces that a number of meetings have taken place with the Independent State of Papua New Guinea (the State) over the last two weeks aimed at resolving the parties' dispute relating to the Company's Solwara 1 project and discussions will continue until a conclusion is reached.

On June 1, 2012 the Company initiated the dispute resolution process under an agreement between Nautilus and the State signed in March 2011 (see links section for full press release). Since then, senior representatives of Nautilus have met with senior representatives of the State in order to resolve the dispute.

Papua New Guinea: Notice of Arbitration - Nautilus Minerals Inc

Jun 20, http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=531977

Nautilus Minerals Inc. announces that the Independent State of Papua New Guinea (the "State") has issued a Notice of Arbitration in relation to the dispute which has arisen under the Agreement between the parties dated 29 March 2011.

Following the initiation of the dispute resolution process by the Company on June 1, 2012 and subsequent meetings between the parties (see links section for full press releases) the Company had understood the State wanted to resolve the dispute, particularly in light of a letter to the Company from the Honourable Peter O'Neill CMG MP, the Prime Minister of the State, dated June 6, 2012. In that letter the Prime Minister outlined a number of key principles to be reflected in relation to the joint venture for the Solwara 1 Project (the "Project"). Nautilus considered this to be a suitable basis for continuation of the discussions in an attempt to resolve the dispute.

The State has now issued a Notice of Arbitration to the Company which asserts that Nautilus has not met certain obligations on which completion of the transactions contemplated by the Agreement is dependent, that Nautilus has breached the Agreement and that the State is entitled to terminate the Agreement. Nautilus has and continues to refute these assertions and maintains that it is the State who has breached the Agreement, not Nautilus.

As previously disclosed, under the Agreement the State's nominee (a subsidiary of Petromin PNG Holdings Limited) must pay (among other amounts) its share of costs incurred in the development of the Project up to completion to acquire its Project interest (see links section for full press release). Unless and until the dispute is resolved, completion will be delayed or may not occur and Nautilus must continue to carry these costs. This may lead to Nautilus needing to slow or defer the build program for Project equipment, which would have consequential impacts on the scheduled commencement of operations and overall Project costs.

Nautilus will continue to attempt to resolve the dispute with the State in an effort to avoid a costly arbitration process. On completion of its review of the Notice and further meetings in PNG, Nautilus will provide further details of its plans by Friday, June 29, 2012.

Peru: Rurelec completes $15.45 million Fund Raising

July 2, http://www.rurelec.com/news-and-publications/226-rurelec-completes-15-45-million-fund-raising

Rurelec PLC, the power plant developer and owner-operator of power generation assets in Latin America, announces that it has successfully arranged a $15.45m fund raising (the "Fund Raising") for the purposes described below by means of a loan with a provider of litigation funding ("the Funder").

The Fund Raising

Under the terms of the agreement, which is subject to finalisation of certain further documentation, the Funder will provide Rurelec, through its subsidiary Birdsong Overseas Limited, with a $15.45 million, 12% loan, secured principally on the international arbitration claim with the Plurinational State of Bolivia to which it is a party together with its subsidiary Guaracachi America Inc (the "Arbitration"). The loan is repayable by 31 December 2013. Furthermore, as part of the Fund Raising, Rurelec has granted a contingent value right to the Funder, pursuant to which it will be entitled to receive a portion of any proceeds recovered in relation to any final settlement of, or award, in connection with the Arbitration. The portion of the proceeds payable to the Funder is dependent on a number of variables, including the length of time taken to recover such proceeds.

The net proceeds from the Fund Raising will be used to invest in Rurelec's programme of investment in thermal power in Chile and hydro power in Peru.

PSource Capital Guernsey Limited acted as placement agent.

Commenting on the Fund Raising, Peter Earl, Chief Executive of Rurelec said:

"I am delighted to announce this successful fund raising. Rurelec will now be in a position to accelerate its programme of investment in attractive projects in Chile and Peru. This financing, completed in difficult market conditions, provides Rurelec with investment capital in a non-dilutive manner, in advance of the expected resolution of the Guaracachi arbitration."

Philippines: Raisama picks up further interest with NPV of A$22M in Cadlao oil project offshore Philippines

Jul 02, http://www.proactiveinvestors.com.au/companies/news/30765/raisama-picks-up-further-interest-with-npv-of-a22m-in-cadlao-oil-project-offshore-philippines-30765.html

Raisama added the acquisition is separate and distinct from its earning of interests under the farm-in agreement with Blade Petroleum Limited, which is currently undergoing arbitration.

Poland: Rafako filed a lawsuit against Alstom

June 12, http://www.constructionpoland.com/167784/Rafako-filed-a-lawsuit-against-Alstom.shtml

Rafako filed a suit against Alstom with the Arbitration Court of the International Chamber of Commerce of Paris. The value of the company's claims related to a power unit at the Belchatow Power Plant is PLN 374m (€87.1m) plus nearly €4.3m. The dispute between the companies started in January 2012 when Alstom seized the amount of PLN 135m (€31.5m) (unlawfully, according to Rafako) under bank guarantees related to the construction of an 858 MW power unit at the Belchatow facility.

Press release: Arnold & Porter Garners ICSID Win for Hungary with Dismissal of AES Annulment Claims

Jul 11, http://www.arnoldporter.com/news.cfm?u=ArnoldPorterGarnersICSIDWinforHungarywithDismissalofAESAnnulmentClaims&type=press_release&action=view&id=462

Washington, D.C., July 11, 2012 -- With a win in the annulment proceeding in AES Summit Generation Limited and AES-Tisza Erömü Kft. v. Hungary, on June 29, 2012, Arnold & Porter LLP attorneys Jean Kalicki, Dmitri Evseev and Mallory Silberman secured the Firm's third-straight victory on behalf of Hungary at the International Centre for Settlement of Investment Disputes (ICSID). The annulment decision is a complete vindication of an earlier Arnold & Porter victory - a 2010 award rejecting AES's claim under the Energy Charter Treaty for Hungary's 2007 reintroduction of regulated prices in the electricity sector.

In the original arbitration proceeding, the ICSID tribunal found that Hungary did not breach the Energy Charter Treaty's investment protection provisions when it temporarily imposed maximum price caps on electricity sold by AES Tisza's electric power plant - as well as on electricity sold by other generators operating in Hungary's public utility market segment - in the course of transitioning to a more liberalized market structure in the aftermath of Hungary's accession to the European Union. One after another, the Tribunal considered and rejected claims that Hungary's actions breached the ECT's provisions on fair and equitable treatment, impairment by unreasonable and discriminatory measures, constant protection and security, national treatment, most favored nation treatment and expropriation.

Unsatisfied with this result, AES initiated annulment proceedings under the ICSID Convention, claiming that the arbitration tribunal "manifestly exceeded its powers" and "failed to state reasons" for its award - two potential grounds for annulment under the ICSID Convention.

...

Press release: H&H Enterprises Investments Wins Jurisdiction Ruling in Arbitration with Government of Egypt

June 7, http://www.weil.com/news/newsdetail.aspx?news=41568

Press release - A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has ruled that a $200 million dispute between H&H Enterprises Investments Inc., a California real estate company, and the government of Egypt over a resort on the Red Sea is subject to arbitration and can proceed.

The dispute stems from the Egyptian government's request for foreign investors to help redevelop the Ain El Sokhna Hotel on the Red Sea Coast. H&H Enterprises made a proposal for the purchase of the property in 1989, signing a management and operation contract (MOC) and option-to-buy several months later. After investing nearly $10 million to refurbish the hotel and develop the surrounding area, and with the resort nearly operational, the Egyptian government allegedly refused to grant H&H Enterprises an official license.

H&H Enterprises initiated an arbitration pursuant to the Bilateral Investment Treaty between the US and Egypt (BIT), which protects investments between countries from being misappropriated. The Egyptian government argued that the BIT did not apply because H&H Enterprise's investment was made before the treaty came into force and that, while the MOC is valid, there was never a contract for the sale of the property. Moreover, the Egyptian government argued, H&H Enterprises waived its right to arbitration by participating in previous litigation in an Egyptian court.

The ICSID tribunal rejected the Egyptian government's arguments, holding that H&H Enterprises had clearly made an investment. The tribunal joined the question of the exact nature of the investment and whether it constituted an option-to-buy to the upcoming merits assessment in the dispute.

H&H Enterprises is represented by Arif Ali, co-head of Weil's International Arbitration practice, along with lawyers from Crowell and Moring and the Shalakany Law Office.

Press release: Republic of Ecuador Wins Investment Treaty Arbitration - Ulysseas, Inc. v the Republic of Ecuador

Jun 25, http://www.bakerbotts.com/republic-of-ecuador-wins-investment-treaty-arbitration-06-25-2012/

Press release - A team of lawyers from Baker Botts L.L.P. successfully defended the Republic of Ecuador, acting through its Attorney General's office, in a $56 million arbitration brought under the Ecuador-United States bilateral investment treaty by a special purpose vehicle owned by the hedge fund Elliott Associates.

The arbitration was governed by the 1976 UNCITRAL Rules, administered by the Permanent Court of Arbitration, and seated in The Hague, The Netherlands. The hearings were held in the Peace Palace, where the International Court of Justice also sits.

The Tribunal's final award dismissed all of the Claimant's claims and awarded Ecuador $2 million to defray its legal costs.

"We had a great working relationship with the Attorney General's Office, whose cooperation allowed us to put forward a compelling case," said Alex Escobar, the Baker Botts partner who led the legal team on the matter. "I am very proud to have worked on this matter with such a focused, determined and supportive team of firm lawyers and staff."

The dispute arose out of a failed barge-based power-generating venture in Ecuador. The Claimant -- who was the nominal owner of a 44 MW generation facility mounted on a sea-faring barge, but who never operated it -- alleged expropriation and other breaches of international law standards resulting from changes to electricity sector regulations and from the local regulator's decision to require the barge to generate electricity during a power crisis.

The Tribunal held that the regulator's decision to operate the barge was based on the applicable license contract and was not an exercise of governmental authority. The arbitral tribunal ruled that neither the changes in law nor the temporary seizure of the barge violated the Claimant's rights under the treaty.

Jay Alexander, co-chair of the International Arbitration Group at Baker Botts, said, "Our ability to draw upon the public international law skills, trial advocacy and dedication of the members of our team produced a just and fair outcome in this case."

The Tribunal was composed of Professor Piero Bernardini of Italy, Professor Michael Pryles of Australia (appointed by Claimant) and Professor Brigitte Stern of France (appointed by Respondent).

Qatar International Court plans expansion

Jul 03, http://www.thepeninsulaqatar.com/qatar/199730-qatar-international-court-plans-expansion.html

QICDRC Chief Executive Officer Robert Musgrove (pictured) said: "We are currently looking at the possibility of resolving Islamic finance disputes by setting up dispute resolution mechanism. To this objective we started a joint feasibility study with QICCA (Qatar International Chamber of Commerce Arbitration) last month.

R-Tech Ueno: Announcement of Additional Extension of the Date of the Deadline for Rendering the Arbitration Decision against Takeda Pharmaceuticals Company Limited

Jul 01, http://www.marketwatch.com/story/r-tech-ueno-announcement-of-additional-extension-of-the-date-of-the-deadline-for-rendering-the-arbitration-decision-against-takeda-pharmaceuticals-company-limited-2012-07-01

BUSINESS WIRE - R-Tech Ueno has announced that it has been notified by the International Court of Arbitration, International Chamber of Commerce (ICC), that the date of the deadline for rendering the arbitration decision has again been extended and is now July 31, 2012. R-Tech Ueno had previously announced in its press release on May 31, 2012 that it had been notified by the ICC that the date of the deadline for rendering the arbitration decision had been extended to June 29, 2012.

Russia asks Iran to withdraw missile contract claim

Jul 18, http://rapsinews.com/judicial_news/20120718/263833817.html

RAPSI - Russia is trying to convince Iran to withdraw its Geneva Arbitration Court claim over the scrapping of a 2007 contract for five S-300 surface-to-air missile systems, Kommersant daily reported on Wednesday.

Russia-Germany: E.ON AG - E.ON reaches settlement with Gazprom on long-term gas supply contracts and raises Group outlook for 2012

Jul 03, http://www.eon.com/en/media/news/press-releases/2012/7/3/eon-reaches-settlement-and-raises-group-outlook-for-2010.html

- Settlement includes retroactive adaptation of pricing conditions for price review period since Q4 2010

- For the full year 2012 E.ON now expects an EBITDA between €10.4 and 11.0 bn in 2012 (until now: €9.6 to 10.2 bn) and an underlying net income between €4.1 and 4.5 bn (until now: €2.3 to 2.7 bn)

E.ON AG and OAO Gazprom have reached an agreement in the negotiations of their long-term gas supply contracts and signed today agreements to that effect. The settlement includes a retroactive adaptation of pricing conditions for the price review period since Q4/2010. E.ON expects the settlement to have a positive impact of about €1 bn on the Group's half-year results. This negotiation agreement will also end the ongoing arbitration proceedings. "We are pleased about the completion of our negotiations and the good result for both sides. Gazprom and E.ON have shown once more that, as long-term strategic partners, they are able to arrive jointly at viable solutions. By signing today's agreements we are strengthening our long-standing, success-ful partnership with Gazprom," said Johannes Teyssen, CEO of E.ON AG.

With the successful completion of the talks with Gazprom, E.ON has now successfully renegotiated the pricing conditions of all of its currently oil-indexed volumes under its long-term gas supply contracts. This marks a major milestone in restoring the competitiveness of E.ON's long-term gas contracts. With the existing agreement the risk of the Group's gas supply portfolio has been substantially decreased.

In connection with the settlement reached with Gazprom, E.ON has also raised its outlook for 2012. Apart from the positive effects of the renegotiated long-term gas supply contracts, the company, amongst other, is also taking account of contrary effects resulting from the divestment of its gas transmission company Open Grid Europe as well as lower production volumes in its E&P business due to the delayed commissioning or the outage of gas platforms.

For the full year 2012 E.ON now expects an EBITDA between €10.4 and 11.0 bn in 2012 (until now: €9.6 to 10.2 bn) and an underlying net income between €4.1 and 4.5 bn (until now: €2.3 to 2.7 bn). Apart from the higher EBITDA, one-off effects on taxes and net interest expenses as well as a generally lower tax rate have a positive impact on group earnings.

Russia-India: Moscow moves to secure its corporates in India

June 11, http://www.thehindu.com/business/Economy/article3516212.ece

With conglomerate Sistema facing uncertain future following cancellation of its telecom licences, Russia, on Monday, set up a Parliamentary working group to protect interests of its companies working in India.

A Special Working Group will be established under Lower House of Russian Parliament (Duma) that "will develop necessary mechanisms for protection of the interests of the Russian companies working in India," Russian news agency Interfac reported on Monday.

Russia: Bashneft, Lukoil Appeal Withdrawal of North Russia Field Rights

June 13, http://www.businessweek.com/news/2012-06-13/bashneft-lukoil-appeal-withdrawal-of-north-russia-field-rights

OAO Bashneft and OAO Lukoil's Bashneft-Polyus venture appealed a decision by Russia's subsoil agency, Rosnedra, to revoke development rights at the Trebs and Titov oilfields in northern Russia. Moscow's Arbitration Court will hear the case on June 28, according to a posting on its website. Rosnedra had canceled an order that allowed Bashneft to transfer the field licenses to its venture with Lukoil, Bashneft said in a May 22 statement.

Russia: Court Leaves VimpelCom's Hands Tied

Jun 20, http://www.themoscowtimes.com/business/article/court-leaves-vimpelcoms-hands-tied/460721.html

The Moscow Arbitration Court declined Wednesday to hear VimpelCom's appeal of interim measures restricting the Russian company's activities while a lawsuit filed by the Federal Anti-Monopoly Service against Telenor, a shareholder in the telecoms operator's Dutch parent company, is settled.

Russia: Duma Seeks to Protect Russian Investments Abroad

Jul 02, http://www.themoscowtimes.com/business/article/duma-seeks-to-protect-russian-investments-abroad/461471.html

A group of Duma deputies has drafted a proposal for the creation of a coordinated, depoliticized mechanism to protect Russian investments abroad, chairman of the Duma's property committee Sergei Gavrilov announced.

Russia: Gazprom sees 'amicable' end to gas contract lawsuits

Jun 21, http://www.petroleum-economist.com/Article/3049363/News-and-Analysis-Archive/Gazprom-sees-amicable-end-to-gas-contract-lawsuits.html

"We will find a solution out of court... and basically we're moving in that direction," Sergei Komlev, head of contract structuring and price formation at Gazprom Export, said in an interview with Petroleum Economist.

Russia: Gazprom suspected of violating shareholders' agreement

June 13, http://rapsinews.com/judicial_news/20120613/263404404.html

RAPSI - Northgas co-owner Farkhad Akhmedov has reported that Gazprom violated shareholders' agreements with the company and has filed a lawsuit with the London Court of International Arbitration, Vedomosti reports on Wednesday.

Russia: Sony Ericsson dispute to be heard in Russia despite arbitration clause

Jun 20, http://rapsinews.com/judicial_news/20120620/263503398.html

RAPSI - Dispute between Sony Ericsson's Russian subsidiary Mobile Communications AB with the Russian Telephone Company has been accepted under the jurisdiction of Russian courts and has been referred to the Moscow Commercial Court.

Russia: Stena RoRo's appeal in action against shipyard to be heard August 22

Jul 09, http://rapsinews.com/judicial_news/20120709/263736326.html

RAPSI - The Thirteenth Commercial Court of Appeals will hear on August 22 the Swedish Stena RoRo's appeal against the decision to satisfy its claims against the Baltiysky Zavod shipyard after main creditors.

Russia: TNK-BP partners want BP buyout, not sell-out

Jul 17, http://www.reuters.com/article/2012/07/16/us-bp-russia-idUSBRE86F0JE20120716

Reuters - The billionaire co-owners of Anglo-Russian oil venture TNK-BP would rather resolve their conflict with partner BP Plc by selling out for cash and a stake in the British oil company than see BP sell its half of the business.

Russia: Urals Energy wins legal battle against former director Rovneiko

Jun 26, http://www.proactiveinvestors.com/companies/news/31080/urals-energy-wins-legal-battle-against-former-director-rovneiko-31080.html

As previously announced, the company instigated arbitration proceedings in London against Rovneiko to recover a US$3.73 million loan it had granted him.

The arbitrator issued a decision last week saying Rovneiko is liable to repay to the company the entire principal sum plus interest.

Russian court delays hearing on BP lawsuit

Jul 9, http://www.businessinsurance.com/article/20120709/NEWS07/120709926?tags=|310|75|303

Reuters — A Russian court on Monday postponed hearings on a suit brought against BP P.L.C. by minority shareholders who allege the British oil major cut TNK-BP Ltd. out of a possible exploration deal with state oil group OAO Rosneft.

Russian court delays hearing on BP lawsuit

Jul 10, http://www.reuters.com/article/2012/07/09/russia-tnkbp-lawsuit-idUSL6E8I94IS20120709

- Shareholders claimed TNK-BP suffered from Rosneft deal exclusion; - New hearing scheduled for July 26; - Damages sought cut to $8.8bln from $12.5bln

Se realizó la audiencia de jurisdicción por la interpretación del Tratado Bilateral de Inversiones con Estados Unidos

Jun 29, http://www.pge.gob.ec/es/rotativo/1892-se-realizo-la-audiencia-de-jurisdiccion-por-la-interpretacion-del-tratado-bilateral-de-inversiones-con-estados-unidos.html

En la ciudad de La Haya (Países Bajos), los días 25 y 26 de junio, se desarrolló la audiencia de jurisdicción ante el Tribunal Arbitral que conoce la controversia entre Ecuador y Estados Unidos de América por una diferencia no resuelta relativa a la interpretación del estándar de medios efectivos de administración de justicia en el Tratado Bilateral de Inversiones (TBI) firmado entre ambos países, que fuera aplicado equivocadamente por el Tribunal Arbitral que resolvió el caso denominado Chevron II.

Este proceso ha sido iniciado en aplicación a las mismas disposiciones del Tratado, que prevén el arbitraje como un mecanismo para resolver las diferencias que tuvieren las partes sobre su aplicación o interpretación, y tiene como finalidad exclusiva encontrar una solución legítima a un problema de interpretación del TBI, para garantizar la seguridad jurídica del Ecuador y evitar que se genere un precedente negativo que pueda ser aplicado en el futuro por otros tribunales internacionales en contra de nuestro país.

Esta acción es independiente del proceso de nulidad de los laudos de jurisdicción y de fondo en el caso Chevron II que inició el Ecuador el 7 de junio de 2010 en la Corte Distrital de La Haya, y que persigue dejar sin efecto la decisión infundada del Tribunal que conoció el caso, por ser contraria a los principios legales, tanto del sistema ecuatoriano como del derecho internacional.

En la audiencia, el equipo de defensa del Estado, encabezado por el Procurador, doctor Diego García Carrión, sostuvo la jurisdicción del Tribunal Arbitral para conocer la reclamación planteada, en contraposición a la postura adoptada por el equipo de defensa de los Estados Unidos, que sostuvo que el Tribunal no tiene jurisdicción debido a la inexistencia de una disputa y a que no se agotó el periodo de consultas directas obligatorias previstas en el TBI.

En su intervención, el Procurador García solicitó al Tribunal Arbitral lo siguiente:

- Establecer que las obligaciones en virtud del Artículo II (7) del Tratado no son mayores que las requeridas para implementar las obligaciones bajo los estándares de denegación de justicia del derecho internacional consuetudinario; - Que el requerimiento del Artículo II (7) de medios efectivos de administración de justicia se refiere a la provisión de un marco o sistema en virtud del cual puedan efectuarse reclamos y hacerse cumplir los derechos, pero no obligar a las Partes en el Tratado a asegurar que el marco o el sistema provisto sea siempre efectivo en casos particulares; y - Que la fijación de la debida compensación por las pérdidas sufridas como resultado de una violación de las obligaciones del Artículo II (7) no puede basarse en una determinación de los derechos bajo la legislación de la Parte respectiva que sea distinta a lo que las cortes de esa Parte han determinado o podrían determinar, por lo que no se permite a los tribunales arbitrales sustituir con sus decisiones aquellas sentencias en las que se aplica el derecho bajo las normas del país en las sentencias expedidas por las cortes locales.

Luego de esta audiencia el Tribunal Arbitral, compuesto por los profesores Olavo Baptista, Donald McRae y Raúl Vinuesa, deberá decidir si tiene o no jurisdicción para conocer la demanda planteada por Ecuador. Si el Tribunal acepta tener jurisdicción, el arbitraje proseguirá a la etapa de fondo, cuya audiencia se llevaría a cabo, también en La Haya, del 6 al 9 de agosto de este año.

Antecedentes que sustentan la demanda

El 30 de marzo de 2010, el Tribunal Arbitral que conoció el caso denominado Chevron II, emitió un laudo parcial en el que encontró al Ecuador culpable por la violación del Artículo II (7) del TBI, debido a un retraso injustificado en la administración de justicia, en tanto las cortes ecuatorianas no dictaron sentencia en siete demandas presentadas por una filial de la transnacional en los años anteriores a que iniciara el arbitraje en virtud del Tratado; y ordenó, fruto de una alegación de la defensa del Ecuador, la apertura de una etapa para definir el monto final a pagar a Chevron en virtud de la aplicación del impuesto unificado del 87.31% que la compañía debía tributar en el Ecuador por todos los ingresos por ella percibidos.

El 31 de agosto de 2011, el Tribunal Arbitral, acogiendo la postura del defensa del Ecuador en cuanto a la aplicación del impuesto unificado, determinó que el monto que el Estado debía pagar a la transnacional petrolera era de 96 millones de dólares y no de 1.605 millones de dólares, como pretendía la demandante en su reclamo inicial.

El Ecuador discrepa de la interpretación realizada por ese Tribunal Arbitral, dado que el Artículo II (7) del TBI no prevé tal protección a los inversionistas. Dado que la defensa del Estado considera que dicho Tribunal interpretó el Artículo II (7) de manera mucho más amplia a la reflejada en el derecho consuetudinario internacional, el Ecuador presentó una demanda arbitral para la interpretación del TBI.

Si bien el Tratado dispone que cada Parte establezca "medios eficaces" para hacer valer las reclamaciones y respetar los derechos relativos a las inversiones, el Ecuador considera que dicha obligación se refiere a proveer un sistema en virtud del cual, los inversionistas puedan efectuar reclamos y hacer cumplir sus derechos, lo cual sí existe en el país. Además, dicha disposición no puede obligar a las Partes a asegurar que el sistema sea siempre efectivo en casos particulares, y sin antes agotar todas las instancias y recursos judiciales bajo la legislación interna.

Además, el Ecuador sostiene que el Tratado no permite que un tribunal arbitral asuma la competencia sobre las controversias sometidas a las cortes locales y menos aún permite que sustituya sus decisiones, como lo hizo el Tribunal Arbitral en el caso Chevron II, interpretando equivocadamente el TBI.

Second edition of CEPANI's scientific prize is launched

Jun 26, http://www.cepani.be/en/

The second edition of CEPANI's scientific prize is launched! A prize of € 10.000 is awarded for a significant contribution in the field of national and/or international arbitration. Candidates shall not be older than 40 years of age on the 1st of September of the year of the award. For this edition, September 1st 2012. The works shall be sent to the Secretariat of CEPANI by September 1st 2012.

The scientific prize is granted by an international jury chaired by Professor Filip DE LY, Professor à la Erasmus University Rotterdam. Rules: http://www.cepani.be/upload/files/rules-en.pdf

Shareholder wins lawsuit against YUKOS and Rosneft to invalidate $342 mln in loans

Jun 28, http://rapsinews.com/judicial_news/20120628/263614698.html

The Moscow Commercial Court satisfied on Thursday the Vesta investment companys lawsuit to invalidate four loans totaling $342 million issued by the Luxemburg-based Yukos Capital S.a.r.l. to Yuganskneftegaz in 2004, the court told the Russian Legal Information Agency

Singapore to develop arbitration sector

June 11, http://www.channelnewsasia.com/stories/singaporelocalnews/view/1206869/1/.html

Singapore's Law Minister K Shanmugam said Singapore will continue to develop the arbitration sector and be pro-arbitration. It will also move in line with industry needs.

Singapore: Arbitration academy to be set up here

Jun 12, http://www.singaporelawwatch.sg/slw/headlinesnews/9836-arbitration-academy-to-be-set-up-here.html?utm_source=rss%20subscription&utm_medium=rss

THE next step in Singapore's moves to be a leading international arbitration player will include the setting up of a world-class arbitration academy. To be steered by the Centre for International Law at the National University of Singapore (NUS) and/or the law faculty, it will be a 'one-stop experience' where lawyers from the region can be trained in arbitration, right where top arbitrators practise and supported by cutting-edge facilities.

South Africa: 'Good riddance' to fleeing foreign investors

June 10, http://www.iol.co.za/business/business-news/good-riddance-to-fleeing-foreign-investors-1.1315449

South Africa would welcome the flight of foreign investors scared off by nationalisation and expropriation, ANC Youth League deputy president Ronald Lamola said on Friday.

"We are told that investors are going to be scared away when we speak about the economy. Good riddance. South Africans will take over."

South Africa: ANC introduces new policy on land restitution - Mail & Guardian Online

Jul 02, http://mg.co.za/article/2012-06-30-anc-introduces-its-new-policy-on-land-reform

The ANC announced at its policy conference that the party plans to do away with its "willing seller, willing buyer" policy for land restitution.

South Africa: ANCY wants Constitution ammended

Jun 21, http://www.iol.co.za/news/politics/ancy-wants-constitution-ammended-1.1324857

The ANCYL insisted on Thursday that Section 25 of the Constitution, which deals with property ownership, be amended.

South Africa: Expropriation of land needs an act as forceful as war - Lamola

Jun 20, http://moneyweb.co.za/mw/view/mw/en/page295025?oid=574666&sn=2009+Detail&pid=287226

He said it was an illusion if South Africans believed they could get their land back peacefully.

South Africa needs a minister of nationalisation, ANC Youth League deputy president Ronald Lamola said in Durban on Tuesday.

Such a minister would have a mandate in line with the Freedom Charter, he said in a lecture on economic freedom at the Durban University of Technology.

South Africa: FW de Klerk Foundation concerned over Lamola`s "war" talk

Jun 26, http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page71654?oid=307730&sn=Detail&pid=71616

The FW de Klerk Foundation is deeply concerned over comments made by ANC Youth League deputy-president Ronald Lamola in Durban on 19 June, during a lecture at the Durban University of Technology. Lamola called for the expropriation of land without compensation. He said youth unemployment could not be dealt with unless land was expropriated. Lamola also stated that, "it is an illusion if South Africans believe they can get their land back peacefully" and "we need an act as forceful as war to bring it back to the Africans".

South Africa: Gauteng ANC opposes land grabs

June 11, http://www.iol.co.za/news/politics/gauteng-anc-opposes-land-grabs-1.1315894

The ANC in Gauteng has rejected calls for the expropriation of land without compensation and the nationalisation of mines.

South Africa: Nafcoc seeks expropriation for firms that collude

Jun 28, http://moneyweb.co.za/mw/view/mw/en/page295025?oid=575383&sn=2009+Detail&pid=287226

Calls for two new ministries. Government should consider expropriating all assets of companies not complying with competition rules as collusion by conglomerates not only disadvantages SA‚ but sabotages small and medium business and job creation‚ says Steve Skhosana‚ deputy president of the National African Federated Chamber of Commerce and Industry (Nafcoc). While Nafcoc said it was happy to see President Jacob Zuma had realised the economy had to get priority during the policy conference under way‚ Skhosana cautioned this would only work if the Cabinet made growth of small and medium businesses part of its daily activities. Nafcoc is therefore calling for the government to "scale down some social ministries" and create two new ministries - for empowerment and small business - that will concentrate on creating new wealth.

South Africa: Zuma moots dropping willing seller principle

Jun 27, http://www.iol.co.za/news/politics/zuma-moots-dropping-willing-seller-principle-1.1328847

President Jacob Zuma has emphatically called for an end to willing buyer, willing seller principle in land reform.

Zuma told ANC policy conference delegates in Midrand on Tuesday that this arrangement was "too expensive" and "taking too long" to address the landlessness - and the resultant poverty - caused by expropriation laws dating back to 1913.

South Sudan proposes arbitration as border talks falter

June 12, http://online.wsj.com/article/SB10001424052702303901504577461854153421564.html?mod=WSJEUROPE_hpp_sections_world

KAMPALA, Uganda -- South Sudan wants its border dispute with Sudan referred to the international court of arbitration in The Hague after African Union-mediated talks failed to reach a deal last week, South Sudan's government said Tuesday.

Squire Sanders Press release: The Czech Republic Wins an Investment Arbitration regarding a German Investor's $100 Million Claim

June 12, http://www.squiresanders.com/the-czech-republic-wins-an-investment-arbitration-regarding-a-german-investors-100-million-claim/

Press release - On 29 May 2012, an international tribunal in Paris ruled in favor of the Czech Republic on a claim brought by German investor, InterTrade Holding GmbH, under the Czech-German Bilateral Investment Treaty. The Czech Ministry of Finance, Squire Sanders, and Noerr s.r.o. successfully defended the Czech Republic against the claim.

InterTrade brought the claim in 2008, alleging that the Czech Republic acted improperly in tender proceedings concerning the forestry sector held in 2005, the purpose of which was to transform the Czech forestry sector and to introduce more competitive market mechanisms. Intertrade complained that the Czech Republic manipulated the proceedings against its local investment, CE Wood, in breach of the Treaty, seeking over $100 million in damages.

Squire Sanders became involved in the dispute following InterTrade's reply memorial to assist the Czech Ministry of Finance and Noerr s.r.o. in responding to new arguments asserted therein. The matter went to a hearing in December 2010 in Paris and was followed by several post-hearing submissions.

In its award of 29 May 2012, the international tribunal rejected all of Intertrade's claims and ruled in favor of the Czech Republic. The tribunal accepted the Czech Republic's argument that the alleged acts of the state enterprise that conducted the tender, Lesy Ceske Republiky, were not attributable to the Czech Republic under international law.

The Tribunal's decision represents an important development in international law on the question of State attribution.

Sucampo Pharmaceuticals Announces Arbitration Decision; International Chamber of Commerce Did not Agree with Sucampo's Claims

Jul 06, http://investor.sucampo.com/phoenix.zhtml?c=201197&p=irol-newsArticle&ID=1712287&highlight=

Sucampo Pharmaceuticals, Inc. today announced that it has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical Company Limited. The International Court of Arbitration, International Chamber of Commerce (ICC) did not agree with Sucampo's claims and did not award any attorneys' fees or costs. Sucampo is disappointed with the ICC's decision.

The decision confirms that the Collaboration Agreement and all of its terms, rights and conditions for AMITIZA(R) (lubiprostone) will remain in force until it expires in October 2020, including the royalty rate arrangement. The royalty revenue to Sucampo was $41.5 million in 2011 and $10.9 million in the first quarter of 2012. AMITIZA was approved for the treatment of chronic idiopathic constipation (CIC) in adults in 2006 and for the treatment of irritable bowel syndrome with constipation (IBS-C) in adult women in 2008. AMITIZA is the only FDA-approved medicine for either of these indications.

"AMITIZA is a brand whose safety and efficacy has been proven over six years and six million patients. Through this arbitration process, we have gained a greater understanding that there is significant potential to further increase AMITIZA's value, make the product available to currently underserved patients, and maximize its net sales revenue by optimizing its marketing and commercialization efforts." commented Ryuji Ueno, M.D., Ph.D., Ph.D., Sucampo's Chairman and Chief Executive Officer. "We anticipate filing a supplemental new drug application in the near-term for the treatment of opioid-induced constipation which, if approved, would be the third indication for AMITIZA."

Dr. Ueno continued, "Beyond North America, we believe there are many significant opportunities for the AMITIZA franchise to grow, including through expanded indications and approvals in new territories. Yesterday, we received approval from the Japanese Health Ministry for AMITIZA in chronic constipation (excluding constipation caused by organic diseases). We anticipate that our partner, Abbott Japan Co. Ltd., will launch AMITIZA in Japan in the fourth quarter. We have also completed the Marketing Authorization Application for AMITIZA in the United Kingdom and expect approval in the second half of this year.

In addition, we look forward to focusing more of our resources on launching RESCULA(R) in the US and Europe; continuing RESCULA's clinical development beyond the current approved indication of lowering intraocular pressure in glaucoma patients, and to developing the other prostone-based compounds and biologics in our pipeline," concluded Dr. Ueno.

Sudan: Western Bahr El Ghazal Governor Backs International Arbitration of Border Dispute

June 15, http://allafrica.com/stories/201206150100.html

Zachariah suggested that if Khartoum has evidence that it is the rightful heir to disputed lands which lie on the border between north and South Sudan, it should take it to court, where the dispute can be settled peacefully.

Swaziland: MTN demands E850m from SPTC

Jul 16, http://www.times.co.sz/News/77638.html

MBABANE – Swazi MTN intends filing a demand of a maximum E850 million compensation from the Swaziland Posts and Telecommunications Corporation (SPTC).

Swedish Women in Arbitration Network (SWAN) Launches Member Directory

June 12, http://www.sccinstitute.com/?id=23696&newsid=43678

The SWAN Directory is the latest SWAN initiative to promote women in arbitration and to highlight SWAN members as potential counsel and arbitrators. The Directory provides a compilation of information about the more than 200 women in the SWAN network. The directory also provides information about SWAN's history, activities and mission.

MONTHS after ministers pledged to block 'vulture funds' using Jersey courts to force poor African countries to repay crippling debts, the lack of progress will be queried in the States tomorrow.

Taiwan-China arbitration may extend beyond HK

June 14, http://www.chinapost.com.tw/taiwan/china-taiwan-relations/2012/06/14/344309/Taiwan-China-arbitration.htm

Taiwan expects to finalize the investment pact in the eighth round of cross-strait negotiations between Chiang Pin-kung, chairman of Taiwan's Straits Exchange Foundation, and Chen Yunlin, president of China's Association for Relations Across the Taiwan Straits, expected to start in late June.

Tanzania: MP faults govt for losing 94bn/- suit to Dowans

Jul 12, http://www.ippmedia.com/frontend/index.php?l=43563

Kigoma South Member of Parliament (NCCR-Mageuzi) David Kafulila yesterday censured the government for losing a 94bn/- suit to Dowans Tanzania Limited. He sounded the blame in a supplementary question in Parliament. Kafulila claimed that he had ‘concrete’ evidence indicating why the government had failed in the high profile case in which the latter contested the International Chamber of Commerce (ICC’s) decision to award it 94bn/- in compensation over breach of contract.

Thailand needs better arbitration - Jason Fry

June 8, http://www.bangkokpost.com/business/economics/297083/thailand-needs-better-arbitration

To facilitate greater foreign investment, Thailand needs to develop its arbitration process and reduce barriers to arbitration to allow for flexible and faster dispute settlement, says the International Chamber of Commerce (ICC), a global business organisation.

The Man Who Keeps the Secrets - Mysterious French operative at center of massive arms scandal

June 12, http://www.asiasentinel.com/index.php?option=com_content&task=view&id=4588&Itemid=199

Last week, a Maltese politician dropped a bombshell into the investigation of allegations of kickbacks in the sale of French submarines to Malaysia, saying French prosecutors were on the trail of a soft-spoken Frenchman named Jean-Marie Boivin and his Malta-based company, Gifen.

Togo ratifies the United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea - Second State to become party to the Convention

Jul 19, http://www.unis.unvienna.org/unis/pressrels/2012/unisl171.html

UN Information Service - With its ratification of the United Nations Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea, known as the Rotterdam Rules, Togo becomes the second State Party to the Convention.

The Rotterdam Rules were adopted by the General Assembly on 11 December 2008 to establish a uniform and modern global legal regime governing the rights and obligations of stakeholders in the maritime transport industry under a single contract for door-to-door carriage. The Rules build upon earlier conventions governing the international carriage of goods by sea and codify important industry practice, thus providing a modern alternative to those earlier conventions. The Rules provide a legal framework that accounts for the many technological and commercial developments that have taken place in maritime transport since the adoption of the earlier conventions, including the growth of containerization, the need for door-to-door transport under a single contract of carriage and the development of electronic commerce.

The Rotterdam Rules have already been signed by 24 States and were also ratified by Spain. The Rules will enter into force on the first day of the month following the expiration of one year after the date of deposit of the twentieth instrument of ratification or accession. Further information on the Rules is available on the UNCITRAL website.

Turkey: Lukoil seeks arbitration over Turkish purchase

Jul 12, http://www.cnbc.com/id/48149395

- Wants compensation after regulatory changes-sources; - Lukoil paid around $550 mln for 700 stations in 2008.

Turkmenistan threaten international legal action against Azerbaijan over disputed oil fields

Jul 02, http://www.theprovince.com/technology/Turkmenistan+threaten+international+legal+action+against+Azerbaijan/6867280/story.html

The new tensions, however, now threaten to finally sever European Union plans for an undersea trans-Caspian pipeline linking the two countries, that could one day carry gas from Turkmenistan and Azerbaijan to Central Europe, circumventing Russia.

Uganda: Government Discloses Oil Deals

Jun 28, http://allafrica.com/stories/201206290211.html

Munyonyo - Uganda has disclosed the details in the oil deals it entered with international oil companies to Parliamentarians, underscoring commitment to good transparency and good governance in the nascent petroleum industry.

Ukraine: Gazprom May Sue Ukraine If Fails Gas Imports Contracts

Jul 02, http://un.ua/eng/article/398205.html

Russia's gas monopoly Gazprom will lodge a suit at the arbitration institute of the Stockholm Chamber of Commerce (Sweden) against Ukraine if it fails to fulfill its contractual obligations of importing Russian gas, Gazprom Chief Executive Officer Alexey Miller has announced at a press conference, its video record available on the Gazprom website.

United States Wins WTO Steel Dispute with China

June 15, http://www.ustr.gov/about-us/press-office/press-releases/2012/june/us-wins-wto-dispute-with-china

Washington, D.C. - United States Trade Representative Ron Kirk announced today that the United States has prevailed in a World Trade Organization (WTO) dispute regarding China's imposition of anti-dumping and countervailing duties on grain-oriented flat-rolled electrical steel (GOES) from the United States. A WTO dispute settlement panel sided with the United States, finding that China conducted an investigation and applied duties in a manner inconsistent with numerous obligations under the Subsidies and Countervailing Measures Agreement, and Anti-Dumping Agreement. Ambassador Kirk applauded the WTO panel's decision, lauding the ruling as a success in ensuring China's compliance with its WTO commitments.

"Today's victory is important not only for steelworkers in Pennsylvania and Ohio, but also for American farmers and workers in other sectors that export to China. The panel upheld our claims that China's duties on U.S. exports of steel products failed to comply with many WTO rules. This decision sends another clear signal to China that it must do more to fulfill its WTO commitments, and that it will be held accountable to play by WTO rules," said Ambassador Kirk.

See a copy of the Panel's report here: http://www.wto.org/english/news_e/news12_e/414r_e.htm.

Background:

On September 15, 2010, the United States requested dispute settlement consultations with China concerning its imposition of duties on GOES from the United States. U.S. manufacturers of GOES are located in Pennsylvania and Ohio, and the duties affect a substantial amount of United States trade in U.S. steel products. After consultations failed to resolve the matter, the WTO established the panel in March 2011.

The United States alleged that China improperly initiated countervailing duty investigations involving several U.S. laws. The United States also challenged the manner in which China conducted its investigation, alleging that China violated numerous procedural and due process obligations, impairing the ability of the United States and U.S. companies to defend their interests. The United States also alleged that China's finding of injury to its domestic industry was unsupported by the evidence on the record.

The Panel's favorable decision regarding China's unfair anti-dumping and countervailing duties on U.S.-manufactured GOES is notable in many regards. The decision confirms that China must do more to meet its transparency and due process commitments. This decision also carries the potential to strengthen future challenges to China's trade remedy tactics. The Panel found that China breached its WTO obligations by:

- Initiating countervailing duty investigations based on insufficient evidence; - Failing to provide non-confidential summaries of Chinese submissions containing confidential information; - Calculating the subsidy rates for U.S. companies in a manner unsupported by the facts; - Calculating the "all others" subsidy and dumping rates without a substantiated basis; - Failing to provide an adequate explanation of its conclusions; - Failing to disclose essential facts underlying its conclusions; - Failing to objectively examine the evidence on the record; and - Making unsupported findings of injury to China's domestic industry.

US and South Africa Trade Minister Rob Davies Sign Agreement to Enhance Trade and Investment

June 18, http://www.ustr.gov/about-us/press-office/press-releases/2012/june/ustr-south-africa-sign-trade-agreement

Today, United States Trade Representative Ron Kirk and South Africa Minister of Trade Rob Davies signed a Trade and Investment Framework Agreement (TIFA). Today's Agreement amends the TIFA signed in 1999 in order to deepen the U.S.-South Africa trade and investment relationship. The TIFA also provides a forum to address trade issues and will help enhance trade and investment relations between the two countries.

US-CA: Canada Applauds Softwood Lumber Ruling on British Columbia's Timber-Pricing System

Jul 19, http://www.international.gc.ca/media_commerce/comm/news-communiques/2012/07/18a.aspx?lang=eng&view=d

A welcome victory for workers in B.C.'s lumber industry, says Minister Fast

July 18, 2012 - The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today welcomed a favourable ruling in the trade dispute with the United States over the timber-pricing system for British Columbia's Interior. A tribunal of the London Court of International Arbitration (LCIA), convened under the Softwood Lumber Agreement (SLA), ruled that Canada had not circumvented the agreement, as alleged by the United States.

"This is good news for forestry workers in British Columbia," said Minister Fast. "We applaud the tribunal's decision in favour of our lumber industry. This positive outcome is the result of our close collaboration with provincial and industry partners and proof that the SLA is good for Canada's forestry sector."

In accordance with SLA rules, the arbitration process was conducted by the LCIA. A panel of arbitrators heard compelling testimony that the increased proportion of low-value logs in B.C.'s timber harvest was caused by the devastating impacts of the mountain pine beetle infestation.

"We are committed to the success of the Softwood Lumber Agreement, which has brought certainty and stability to a sector that is vital to the Canadian economy," said Minister Fast. "Our government will continue to stand up for the workers and families that rely on Canada's world-class forestry sector."

Canada and the United States enjoy the largest bilateral trading relationship in the world, with two-way trade in goods and services reaching almost $709 billion last year. Softwood lumber bilateral merchandise trade accounted for $3 billion in 2011. Reducing obstacles to trade between the two countries contributes to mutually beneficial supply chains, making both countries more competitive domestically and internationally. All told, the jobs of more than 8 million Americans depend on trade with Canada, and more than 2.4 million Canadian jobs depend on exports to the United States.

US-CA: Statement by the Office of the U.S. Trade Representative in Response to Decision in Third Softwood Lumber Arbitration

Jul 18, http://www.ustr.gov/about-us/press-office/press-releases/2012/july/ustr-statement-response-softwood-lumber-arbitration

Washington, D.C. - Today, the Office of the United States Trade Representative issued the following statement regarding a decision in the third softwood lumber arbitration dispute brought by the United States against Canada:

"We are disappointed with the outcome of this latest arbitration under the Softwood Lumber Agreement between the Government of the United States and the Government of Canada (SLA). Despite this result, we remain concerned that British Columbia provided publicly-owned timber harvested in its interior to softwood lumber producers for prices far below market value," said Nkenge Harmon, Deputy Assistant United States Trade Representative. "And it is important to note that the tribunal did not sanction the pricing practices in British Columbia. Rather, as a result of a flawed approach to evaluating the evidence before it, the tribunal concluded that it was unable to find a conclusive link to action by the Government of Canada. The fair pricing of timber in British Columbia is in the strong interest of the United States and we will continue to monitor this closely.

"The United States has prevailed in two cases under the SLA. We continue to enforce them. The Obama Administration is committed to continue vigorously enforcing the SLA and other U.S. trade agreements. Although we remain disappointed in the result of this proceeding, we will continue to ensure that Canada abides by its obligations under the SLA."

The U.S. Department of Justice represented the United States in each arbitration.

US: (Almost) Everyone Agrees: The U.S. Should Ratify the Law of the Sea Treaty - Stewart M. Patrick

June 10, http://www.theatlantic.com/international/archive/2012/06/-almost-everyone-agrees-the-us-should-ratify-the-law-of-the-sea-treaty/258301/

Most of the world follows the convention and the U.S. signed it years ago, but some conservative members of Congress are still blocking it.

US: Amkor Announces Interim Ruling in Tessera Arbitration

Jul 09, http://phx.corporate-ir.net/phoenix.zhtml?c=115640&p=irol-newsArticle&ID=1712619&highlight=

BUSINESS WIRE - Amkor Technology, Inc. today announced that on July 5, 2012, the Arbitration Panel from the International Court of Arbitration of the International Chamber of Commerce issued an interim order in the arbitration proceedings initiated in August 2009 relating to Amkor's license agreement with Tessera, Inc.

The panel found that no royalties are due to Tessera on seven of the ten asserted U.S. patents. The panel also found that royalties are due on four foreign patents related to U.S. patents that the panel previously found to be royalty bearing. The panel has reserved for later decision the issues of the amount of royalties and pre-judgment interest due, the allocation of costs, and the question of whether Tessera intends to pursue its allegations regarding other patents which have not yet been addressed.

The Company currently estimates that the damages and interest could be around $30 million with respect to the foreign patents. The factors affecting the calculation of damages and interest with respect to the U.S. patents are more complex and require further analysis before the Company can make an estimate, which could be more or less than the amount estimated for the foreign patents. In both cases, the ultimate amount of damages and interest is subject to the determination of which package families the patents apply to, whether those packages meet criteria previously laid out by the panel, overlaps among the packages, the final date through which royalties are applicable and other factors.

The panel also ruled that the license agreement, under which the royalties were awarded, was terminated by Tessera as of February 17, 2011. Based in part on this ruling that the license has terminated, on July 6, 2012, Tessera filed a complaint in the U.S. District Court for the District of Delaware. The complaint seeks injunctive relief and damages with respect to Amkor's alleged infringement of one of the U.S. patents that the arbitration panel found to be royalty bearing. The Company strongly disputes Tessera's claims and intends to vigorously defend against them.

"Although we are disappointed that the panel did not rule in our favor on all of the claims, we prevailed on the patents for which Tessera made the largest claims for royalties and we expect that the amount of the award will be well below the more than $400 million claimed by Tessera in the arbitration," said Ken Joyce, president and chief executive officer of Amkor. "Furthermore, we do not expect that the final amount of the panel's award will have a material impact on our liquidity, and we do not believe the ruling will interfere in any significant way with our ability to use our technology, conduct our business or service our customers."

The Company expects to record a charge to operating results in the second quarter 2012 in respect of the panel's award. Payment of the award is not anticipated before the fourth quarter 2012, after the proceedings to determine the final amount of the award are concluded. We expect to use cash on hand and/or proceeds from borrowings under our existing credit line or other sources to make the payment.

US: Cubic Energy, Inc. Receives Court Order Confirming Arbitration Award

June 15, http://news.morningstar.com/all/globe-news-wire/259441/cubic-energy-inc-receives-court-order-confirming-arbitration-award.aspx

GLOBE NEWSWIRE - Cubic Energy, Inc. announces that it received a ruling from the District Court in Dallas County, Texas Confirming the Arbitration Award previously announced on March 21, 2012, with respect to the dispute with EXCO Operating Company, LP ("EXCO") and BG US Production Company LLC ("BG") as to drilling credits pertaining to the Company's Northwest Louisiana acreage. This Arbitration is subject to a Confidentiality Order, but the Arbitration Award is now public.

US: Globalstar Announces Update Regarding Arbitration Award in Commercial Arbitration With Thales Alenia Space and Ongoing Discussions

June 11, http://www.globalstar.com/en/index.php?cid=7010&pressId=729

Globalstar, Inc., announced on May 16, 2012 the decision of the arbitrators in the commercial arbitration concerning its 2009 satellite manufacturing contract (the "Construction Agreement") with Thales Alenia Space France ("Thales"). Although the Company and Thales may agree to other terms, the arbitrators' ruling requires Globalstar to pay Thales approximately EUR 53 million in Phase 3 termination charges (the "Award") by June 9, 2012. The Company disputes the merits of the Award and is currently considering its options to oppose, seek to vacate, or otherwise challenge the Award. The Company today announced that it did not make payment of the Award to Thales on or prior to June 9, 2012. As a result, among other things, the Award has begun to accrue simple interest. The Company continues to engage in discussions with Thales in an effort to reach a consensual resolution.

On May 23, 2012, Thales commenced an action in the District Court for the Southern District of New York (the "New York Proceeding") by filing a petition to affirm the Award. The Company is currently in negotiations with Thales in an effort to reach an amicable resolution of their disputes. In the event the parties fail to reach such an agreement, the Company currently intends to move to vacate the Award.

On the same date that Thales commenced the New York Proceeding, Thales sent a notice to the agent (the "Agent") under the Company's secured bank facility (the "COFACE Facility"), pursuant to section 2.3 of that certain Direct Agreement between Thales, Globalstar, and the Agent, dated June 5, 2009 (the "Direct Agreement"), notifying the Agent, among other things, of the Award, that it deems the failure to pay the Award a default under the Construction Agreement, and that it is reserving all of its rights under the Direct Agreement and the Construction Agreement, including the right to suspend performance under the Direct Agreement, if the Company's default is not cured within 30 days of receipt of the Notice. Pursuant to section 2.3 of the Direct Agreement, Thales must wait 30 days from the date of notice to the Agent before suspending performance under the Construction Agreement and, if the default is not cured 30 days after the date of suspension of performance, Thales may terminate the Construction Agreement in accordance with its terms. There can be no assurance that Thales will not seek to terminate the Construction Agreement before the requisite periods expire. Should Thales seek to terminate the Construction Agreement prematurely, the Company would pursue all of its rights and remedies, but there can be no assurance that the Company's interpretation would prevail.

Globalstar and Thales have initiated post-ruling discussions to seek mutually agreeable solutions on all aspects of the Construction Agreement and the Award. No assurance can be given that the Company will be successful in reaching agreement with Thales as to the Construction Agreement or the Award. If the parties are not able to reach a mutually agreeable resolution, if the Award is confirmed, final, and non-appealable and thereafter remains unpaid without resolution, or if Thales terminates the Construction Agreement, there are likely to be materially negative consequences to Globalstar, including with respect to its debt agreements, ongoing work with Thales, and business operations, and Globalstar may be required to consider strategic alternatives, including, without limitation, seeking protection under Chapter 11 of the U.S. Bankruptcy Code. Nonetheless, discussions are ongoing and during the course of these negotiations, while Thales has asserted that it has contractually stopped work, it has continued work on construction of the satellites remaining in the second phase of the Construction Agreement. Upon completion and launching of these remaining satellites, the Company will have a full second generation constellation which should allow it to reestablish its leadership position in the provision of mobile satellite voice and data services.

US: Joint Statement on the United States-East African Community Trade and Investment Partnership

June 15, http://www.ustr.gov/about-us/press-office/press-releases/2012/june/joint-statement-US-East-African-Community-Trade-Investment-Partnership

Washington, D.C. - United States Trade Representative Ron Kirk; the Honorable Richard Sezibera, the Secretary General of the East African Community; H.E. Victoire Ndikumana, the Burundian Minister of Commerce, Industry, Posts, and Tourism; H.E. Moses Wetang'ula, the Kenyan Minister for Trade; H.E. François Kanimba, the Rwandan Minister of Trade and Industry; H.E. Abdallah Kigoda, the Tanzanian Minister for Industry, Trade, and Marketing; and H.E. Amelia Kyambadde, the Ugandan Minister of Trade and Industry are pleased to release the following joint statement, following a meeting on June 14, 2012 on the sidelines of the AGOA Forum between the United States and the East African Community (EAC) Partner States, in Washington, D.C.

"Recognizing the importance of strengthening the economic links between the United States and East Africa, our governments jointly resolve to pursue a new trade and investment partnership between the United States and the East African Community. This new partnership will build on the foundations of our existing trade and investment relationship, including the African Growth and Opportunity Act (AGOA), and the U.S.-EAC Trade and Investment Framework Agreement (TIFA). Under this new partnership we will work together to provide new business opportunities to U.S. and EAC firms by reducing trade barriers, improving the business environment, encouraging open investment regimes, and enhancing our two-way trade.

The initial items we have agreed to explore under this new umbrella partnership include a regional investment treaty, a trade facilitation agreement, continued trade capacity building assistance, and a commercial dialogue. These agreements and other activities that we will pursue will help to promote EAC regional integration, economic growth, and expand and diversify U.S.-EAC trade and investment. They could also serve as building blocks towards a more comprehensive trade agreement over the long term.

We, the Ministers, have therefore directed our respective technical teams led by the EAC to engage as soon as possible to begin consultations on each of the areas we have agreed upon.

We have full confidence that together, we can build a stronger U.S.-EAC trade and investment partnership for the benefit of the American and East African people."

US: Mediation unable to resolve Encana, Thompson dispute

June 13, http://www.postindependent.com/article/20120613/VALLEYNEWS/120619965/1083&ParentProfile=1074

RIFLE, Colorado - A court-appointed mediator has been unable to resolve a dispute between Porcupine Creek landowner Thomas Thompson and Encana Oil and Gas (USA), a drilling company operating on Thompson's land.

US: Starbucks, Kraft start arbitration in dispute over coffee distribution

Jul 12, http://seattletimes.nwsource.com/html/businesstechnology/2018663823_starbucks12.html

The two consumer-products giants have been arguing since 2010, when Starbucks fired Kraft as its distributor of package coffee to grocery stores.

US: Tessera Wins Key Ruling in Arbitration Versus Amkor

Jul 09, http://www.tessera.com/abouttessera/pressroom/Pages/newsreleases.aspx?releaseId=689921

BUSINESS WIRE - Tessera Technologies, Inc. announced today that the International Court of Arbitration of the International Chamber of Commerce (ICC) issued an interim award in favor of Tessera, Inc. in its dispute with Amkor Technology, Inc. The ICC tribunal confirmed that the Amkor license agreement had been properly terminated by Tessera, Inc. in February 2011. Based on a preliminary review of the interim award, Tessera, Inc. intends to seek an amount in excess of $125 million from Amkor.

"We continue to seek royalties for use of the Tessera, Inc. patent portfolio, which has delivered over $1 billion in revenue during the past decade," said Richard Chernicoff, president of Tessera Intellectual Property Corp. "We use litigation in those instances where we are unable to achieve reasonable agreements or where others breach their agreements with us. The current arbitration will bring clarity to the amounts that should have been paid by Amkor under the license."

The current arbitration marks the second time the two companies have gone to the ICC to resolve the amount of royalties owed under the now-terminated patent license agreement. The first arbitration lasted three years and in 2009 resulted in an award to Tessera, Inc. of $64 million. The interim award announced today in the second arbitration, which began in 2009, contains factual and legal conclusions on which the tribunal will base one or more final awards specifying the amount of damages owed by Amkor. Under the rules of the case and of the ICC, the parties have only a limited ability to make public disclosures about the arbitration.

USDOJ: Foreign Claims Settlement Commission Annual Report 2011 [pdf]

May 31, http://www.justice.gov/fcsc/annrep11.pdf

The Foreign Claims Settlement Commission of the United States is an independent, quasi-judicial federal agency. The Commission's primary mission is to receive, examine, adjudicate, and render final decisions with respect to claims of U.S. nationals against foreign governments.

Venezuela: A new complaint against Venezuela at the ICSID

Jun 20, http://www.eluniversal.com/economia/120619/a-new-complaint-against-venezuela-at-the-icsid

In March 2011, the Official Gazette released Decree 8,133 whereby the mandatory transfer of goods and other assets, property of the bauxite producer, was ordered. Saint Gobain's request is the first action taken against Venezuela after the local authorities formally denounced the Icsid treaty. On January 26th, the foreign affairs ministry notified the World Bank of their decision. Following denunciation of the treaty, Venezuela's final withdrawal will take effect within a six-month period.

Venezuela: Crystallex Draws Down Second Tranche of DIP Facility and Announces Appointment of Two Directors

Jun 27, http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2012/Crystallex-Draws-Down-Second-Tranche-of-DIP-Facility-and-Announces-Appointment-of-Two-Directors/default.aspx

Crystallex International Corporation announced today that it has drawn down an additional amount of US$8 million (for an aggregate total of US$21 million) under the terms of the credit agreement (the "Credit Agreement") governing the Company's debtor-in-possession US$36 million term loan facility provided by an entity managed by Tenor Capital Management Company LP (together with any successors, assigns or transferees as permitted, the "Lender"). These funds will be used to fund the Company's operations, including the prosecution of its arbitration claim against the government of Venezuela.

Venezuela: Rusoro Files International Arbitration Against the Venezuelan Government

Jul 18, http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11268738

VANCOUVER, BRITISH COLUMBIA- Rusoro Mining Ltd. announced today that it has filed a Request for Arbitration before the Additional Facility of the World Bank's International Centre for Settlement of Investment Disputes ("ICSID") against the Bolivarian Republic of Venezuela ("Venezuela") pursuant to the Agreement between the Government of Canada and the Government of the Republic of Venezuela for the Promotion and Protection of Investments (the "Treaty").

The arbitration has been commenced following the passing by the Venezuelan Government of a series of measures that dismantled the legal regime for the marketing of gold in Venezuela and culminated in the outright nationalization and control of Rusoro's investments in Venezuela without compensation. The claim is for breach of the Treaty's protections against expropriation, unfair and inequitable treatment and discrimination, and for breach of the guarantees of full protection and security and free transfer of investments.

Andre Agapov, President and CEO of Rusoro said, "The Venezuelan Government's actions have resulted in significant loss to the Company and its shareholders. For several months we have attempted to find an amicable resolution to the dispute with the Venezuelan Government, but in the end, in light of the Government's apparent unwillingness to look for an amicable resolution, it became the Company's sole recourse to commence international arbitration. Even though we are disappointed that we could not reach an amicable resolution to the dispute, we firmly believe in our arbitration case and the pursuit of fair-value compensation for the loss of our large investment in Venezuela."

ON BEHALF OF THE BOARD

Andre Agapov, President & CEO

VietNam: Ministry throws lifeline to unregistered FDI firms

Jul 16, http://vietnamnews.vnagency.com.vn/Economy/227442/ministry-throws-lifeline-to-unregistered-fdi-firms.html

Hundreds of foreign-invested enterprises that need to have their business operations re-registered will be able to avoid dissolution or suspension if the Government approves a proposal from the Ministry of Planning and Investment. Under the Enterprise Law and Investment Law, foreign-invested companies established under the Foreign Investment Law that did not register by July 1 of last year were supposed to have ceased operations and not be allowed to extend their expired licences.

Zimbabwe goes for banks

Jul 16, http://www.businesslive.co.za/world/int_markets/2012/07/14/zimbabwe-goes-for-banks

South African banks with operations in Zimbabwe are seeking clarity on the future after a recent warning from Zimbabwe's indigenisation minister that the government is turning its attention to the banking sector to get it to give up controlling shares to Zimbabweans.

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
  • New Frontiers in International Investment Arbitration - 9th EFILA Annual Conference
    TOPICS: * Domestic courts and the review of awards: recent trends; * Geopolitical uncertainties and their impact on arbitration SPEAKERS: KEYNOTE Speech by Prof. Dr. Mathias Wolkewitz; * Mirjam van de Hel - Koedoot; * Lucia Raimanova; * Maria Fogdestam Agius; * Dr. Paschalis Paschalidis; * Georg Scherpf; * Dr. Alfred Siwy, LLM; * Dr. Richard Happ; * Nick Lawn; * Dr. Patricia Nacimiento.
    25 April 2024. Frankfurt, Germanay,
    More information is available at the organisers website
  • Azerbaijan Arbitration Days
    Welcome Words from Prof. Kamalia Mehtiyeva, Chair of the Azerbaijan Arbitration Association. Inaugural Speech by Mr Inam Karimov. Keynote Speech by Mr Alexis Mourre. TOPICS: * New Arbitration Law in Azerbaijan and the Influence of the UNCITRAL in the Region; * Renewable Energy: Development, Trends and Settlement of International Disputes; * Building the Silk Way - Construction Projects in the Region; * Arbitrating Gas Pricing and Electricity Pricing Disputes; * Investments - Emerging Trends and Highlights on Resolution of Investment Disputes; * Efficiency of Arbitration: Provisional Measures, Enforcement, Asset Recovery and Financing of Litigation; * Upstream Disputes in the Extractive Sector; * Innovation and Leadership; * Engineering, Procurement and Construction Disputes.
    25 April 2024 - 26 April 2024. Baku, Azerbaijan,
    More information is available at the organisers website

May 2024

  • DIS Spring Conference 2024
    Visit this year's spring event of the DIS in Hamburg on the topic "Trust is good, control is better? Protecting the procedural integrity of arbitration proceedings". You can look forward to exciting discussions on the topic of the event. Further information will follow. The conference language is German. You can already register for the event and make your travel arrangements now. We have arranged special conditions for you with various hotels and with Deutsche Bahn. Further information and the registration form can be found the conference website. (Gala dinner 2 May 2024, 19:00 Uhr)
    3 May 2024. Hamburg, Germany,
    More information is available at the organisers website
  • 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.

JOBS / MOVES

India Johnson Selected to Lead the American Arbitration Association

Jul 16, http://www.bizjournals.com/washington/prnewswire/press_releases/Virginia/2012/07/13/AQ40227

PRNewswire - Joia Johnson, Chairperson of the Board of the American Arbitration Association® (AAA®), has announced that India Johnson, Senior Vice President and Chief Strategy Officer at the AAA has been promoted to the position of Acting Executive Vice President in anticipation of advancing to the position of President and CEO on January 1, 2013. At that time she will succeed William K. Slate II, the current President and CEO who has held that position since 1994, and who announced his planned retirement last September.

Professor Herbert Kronke appointed as a Member of the Iran-United States Claims Tribunal

Jun 28, http://www.iusct.net/

On 28 June 2012, Professor Herbert Kronke was appointed as a Member of the Iran-United States Claims Tribunal, effective 1 September 2012.

Doug Jones elected to global arbitration board

June 17, http://acica.org.au/assets/media/news/ACICAIFCAI-1.pdf

International arbitration specialist and President of the Australian Centre for International Arbitration (ACICA) Doug Jones AO has been elected to the board of the global body, the International Federation of Commercial Arbitration Institutions (IFCAI) www.institutionalarbitration.org

New Board Member Appointed At the Arbitration Institute: Attorney-at-Law Marko Hentunen

Apr 26, http://www.arbitration.fi/en/news.html

Attorney-at-law Marko Hentunen has been appointed as new member of the Board of the Arbitration Institute. The appointment was made by the Board of the Finland Chamber of Commerce at its meeting held on 25th April 2012. Mr. Hentunen has worked at Castrén & Snellman since 1989. He has been head of the Dispute Resolution expertise group for about 10 years.

Stephenson Harwood prepares to launch in Dubai

Apr 23, http://www.thelawyer.com/stephenson-harwood-prepares-to-launch-in-dubai/1012270.article

Stephenson Harwood is preparing the ground to launch an office in Dubai as part of its continuing international strategy.

An Interview with International Arbitrator and Mediator, Eric van Ginkel

Apr 22, http://www.adrtimes.com/articles/2012/4/22/an-interview-with-international-arbitrator-and-mediator-eric.html

Q: Are there any kinds of disputes you've found tend to be handled more effectively in mediation versus arbitration? A: All disputes benefit from mediation and other attempts at early settlement. Who would not prefer to put the emotional and financial burdens behind them, so they can go back to focusing on making money and being creative in business and in their personal life? Therefore, I always encourage the parties in an arbitration to seek mediation, preferably not by me, for the obvious reason that I may know too much by mediating in the event the matter does not settle. On the other hand, I can conduct settlement conferences with both parties in the room at all times, which at times leads to a satisfactory result.

Interview with Arif Hyder Ali, Co-Chair of Weil, Gotshal & Manges LLP's International Arbitration Practice

Apr 22, http://www.metrocorpcounsel.com/articles/18823/international-arbitration-practice-spans-globe

The Editor interviews Arif Hyder Ali, Co-Chair of Weil, Gotshal & Manges LLP's International Arbitration Practice and Partner based in Washington, DC.

Q: Please tell our readers about your distinguished background and your practice.
Q: Please describe the firm's international arbitration practice and your goals for this practice.
Q: Has globalization caused cross-border disputes to increase in number and complexity?
Q: What usually triggers the decision to arbitrate?
Q: Why do so many agreements relating to M&A and other international transactions specify that disputes will be settled by ADR?
Q: Is a mediation the first step provided in such agreements?
Q: Are the venues and other details relating to ADR specified in the documents relating to such transactions?
Q: How frequently is the decision made to use arbitration to resolve an international dispute as a result of early case assessment?
Q: Would you discuss the extent to which a decision to arbitrate is based on perceived weaknesses in the court systems?
Q: What problems do you encounter in enforcing arbitration decisions?

BOOKS

Making Mediation Work For You

Kate Aubrey-Johnson
ISBN13: 9781903307939
Publisher: Legal Action Group

This book is a guide to how mediation works in practice. Covering civil, family, workplace and community mediation, it will outline the process and focus on strategies, techniques and negotiation skills to ensure the best possible outcome. It also includes tactical guidance from experienced mediators. The book is aimed at individuals and their representatives and also at trained mediators looking for an accessible guide on how to get the best from mediation.

Consent in International Arbitration

Andrea Marco Steingruber
ISBN13: 9780199698158
Publisher: Oxford University Press

Arbitration is consensual by nature and the arbitrators' jurisdiction derives exclusively from the parties' agreement to use arbitration as a means to resolve their disputes.

The concept of consent in arbitration - especially as cases become more complex - is taking on increasing importance, and issues with regard to the parties' consent to arbitrate are the topic of many articles and discussions.

Examining the notion, nature, and extent of consent in both commercial arbitration and investment arbitration, this book provides practitioners and academics with a thorough, case-related analysis of an issue which raises many questions.

The History of ICSID

Antonio R. Parra
Publisher: Oxford University Press
ISBN13: 9780199660568

This is the first book to detail the history and development of the International Centre for Settlement of Investment Disputes (ICSID) and its constituent treaty, the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, covering the years from 1955 to 2010. Antonio Parra, the first Deputy Secretary-General of ICSID, traces the immediate origins of the Convention, in the years 1955 to 1962, and gives a stage-by-stage narrative of the drafting of the Convention between 1962 and 1965.

ICSID

New: Inversión y Gestión de Bienes, IGB, S.L. and IGB18 Las Rozas, S.L. v. Kingdom of Spain (ICSID Case No. ARB/12/17)

Construction project, Registered July 09. Tribunal not yet constituted.

New: Veolia Propreté v. Arb Republic of Egypt (ICSID Case No. ARB/12/15)

Waste management; Registered June 25. Tribunal not yet constituted.

New: Telefónica S.A. v. United Mexican States (ICSID Case No. ARB(AF)/12/4)

Telecommunications services, Registered June 21. Tribunal not yet constituted.

New: Churchill Mining PLC v. Republic of Indonesia (ICSID Case No. ARB/12/14)

Coal mining project, Registered June 22. Tribunal not yet constituted.

Award: Toto Costruzioni Generali S.p.A. v. Republic of Lebanon (ICSID Case No. ARB/07/12)

Award (Jun 07, 2012) available https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=7896

Award: Caratube International Oil Company LLP v. Republic of Kazakhstan (ICSID Case No. ARB/08/12)

Outcome of Proceeding: Award rendered on June 5, 2012.

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

Outcome of Proceeding: Award rendered on July 6, 2012.

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

Outcome of Proceeding: The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Marc Lalonde on July 16

Getma International and others v. Republic of Guinea (ICSID Case No. ARB/11/29)

Decision on the Proposal for Disqualification of Arbitrator Bernardo M. Cremades (Jun 28, 2012) https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=7907

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

Status of Proceeding: Tribunal issues a decision on jurisdiction on June 5

Pac Rim Cayman LLC v. Republic of El Salvador (ICSID Case No. ARB/09/12)

Status of Proceeding: Tribunal issues a decision on jurisdiction on June 1 @ http://bit.ly/ICSID

... See @ogeltdm for further updates...