iarbnews’ Post

Cosco notifies Peru of the existence of a dispute over the exploitation of the Chancay port and opens negotiations aimed at avoiding international arbitration Executive summary:  Cosco Shipping Ports Chancay Peru S.A. (Cosco) has notified the Peruvian Ministry of Economy and Finance of an investment dispute with the country, thereby setting in motion a six-month negotiation period under the China-Peru Free Trade Agreement. The move is aimed at reaching an amicable settlement and avoiding international arbitration, following a lawsuit filed by the Ministry of Transport and Communications (MTC), which revoked the port service exclusivity granted to Cosco until 2021. The Tenth Specialised Administrative Court later found the MTC's annulment suit inadmissible due to legal flaws, and gave the prosecution five days to remedy the deficiencies. In spite of the controversy, work continues on the Chancay port project, which is seen as crucial to Peru's commercial future, and both sides remain committed to its timely completion. Cosco Shipping Ports Chancay Peru S.A. (Cosco) has notified the Peruvian Ministry of Economy and Finance of an investment dispute with the country. This notification triggers a six-month negotiation period, as outlined in Article 138.1 ...

⚖️ COSCO's Peruvian Megaport Battle May Go to Arbitration ⚓ COSCO's struggle to open a megaport in Peru might head to international arbitration due to ongoing disputes. The outcome of this legal battle could significantly impact the region's maritime infrastructure development. #COSCO #Peru #Megaport #Arbitration #MaritimeInfrastructure 🔗 COSCO's Battle to Open Peruvian Megaport Could Go to International Arbitration https://lnkd.in/e--CUpja

⚖️ COSCO's Peruvian Megaport Battle May Go to Arbitration ⚓ COSCO's struggle to open a megaport in Peru might head to international arbitration due to ongoing disputes. The outcome of this legal battle could significantly impact the region's maritime infrastructure development. #COSCO #Peru #Megaport #Arbitration #MaritimeInfrastructure 🔗 COSCO's Battle to Open Peruvian Megaport Could Go to International Arbitration https://lnkd.in/egBDpbyg

⚖️ COSCO's Peruvian Megaport Battle May Go to Arbitration ⚓ COSCO's struggle to open a megaport in Peru might head to international arbitration due to ongoing disputes. The outcome of this legal battle could significantly impact the region's maritime infrastructure development. #COSCO #Peru #Megaport #Arbitration #MaritimeInfrastructure 🔗 COSCO's Battle to Open Peruvian Megaport Could Go to International Arbitration https://lnkd.in/e--CUpja

After a busy June travelling across various events, it’s time to return with some insights from London International Disputes Week (LIDW). Alongside my colleagues Vilija Vaitkutė Pavan, Eva Kalnina, Georg Scherpf, and Paulius Docka, FCIArb, we engaged in productive and intriguing discussions. ▪️ At first glance, the relatively small market of the Baltic States offers many opportunities for Big Law, starting with commercial #arbitration with English law as the governing law and ending with investment arbitrations. Big infrastructural projects, the implementation of EU sanctions, and the proactive involvement of investment screening commissions in the Baltic States will cause more international disputes.   ▪️ London as a seat is expensive for Baltic businesses. However, it is not a central topic of negotiation when the Baltic party has lower bargaining power. ▪️ #SCC, #ICC, and #LCIA arbitration clauses are the top 3 choices for Baltic international businesses.

𝐀 𝐆𝐥𝐢𝐦𝐩𝐬𝐞 𝐢𝐧𝐭𝐨 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐫𝐛𝐢𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐘𝐞𝐚𝐫𝐛𝐨𝐨𝐤 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟒 The international arbitration landscape is constantly evolving, and staying ahead of the curve is essential for legal professionals and businesses alike. We are excited to share that the 𝟏𝟕𝐭𝐡 𝐞𝐝𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐁𝐚𝐤𝐞𝐫 𝐌𝐜𝐊𝐞𝐧𝐳𝐢𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐫𝐛𝐢𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐘𝐞𝐚𝐫𝐛𝐨𝐨𝐤 is now available, providing a comprehensive analysis of the most significant developments in international arbitration across 40 jurisdictions over the past year. Here are some of the key updates: 𝟏. 𝐍𝐞𝐰 𝐑𝐮𝐥𝐞𝐬: Explore updated arbitral rules from institutions worldwide, including the SCC (Stockholm), CAM (Milan), CIAM (Madrid), SCCA (Saudi Arabia), CIETAC (China), SHIAC (Shanghai), TAI (Thailand) and AIAC (Malaysia). 𝟐. 𝐋𝐞𝐠𝐢𝐬𝐥𝐚𝐭𝐢𝐯𝐞 𝐑𝐞𝐟𝐨𝐫𝐦𝐬: Stay informed about recent amendments to arbitration laws in key jurisdictions like the UK, Germany, Luxembourg, the UAE, China, Japan, and Vietnam. 𝟑. 𝐄𝐧𝐟𝐨𝐫𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐫𝐞𝐧𝐝𝐬: Understand the latest case law on enforcing foreign arbitral awards under the New York Convention. 𝟒. 𝐓𝐡𝐢𝐫𝐝-𝐏𝐚𝐫𝐭𝐲 𝐅𝐮𝐧𝐝𝐢𝐧𝐠: Delve into the evolving landscape of third-party funding in arbitration, including issues of transparency, conflicts of interest, and control. 𝟓. 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐀𝐫𝐛𝐢𝐭𝐫𝐚𝐭𝐢𝐨𝐧: Gain insights into critical investment arbitration cases and developments, including the ongoing debate around the Energy Charter Treaty. Don't miss this valuable resource for staying informed about the latest trends and best practices in international arbitration. Access the full International Arbitration Yearbook 2023-2024 here: https://lnkd.in/gZX4MrCH . Contact THAC today: https://lnkd.in/gcbwmt86 #internationalarbitration #arbitration #disputeresolution #legal #law #THAC

#India and Turkey Collaborate to Enhance Global Trade through ADR Initiatives In a landmark effort poised to reshape international arbitration and mediation, India and Turkey have entered into a strategic collaboration to promote... #In a landmark effort poised to reshape international arbitration and mediation, India and Turkey have entered into a strategic collaboration to promote Alternative Dispute Resolution (ADR). #This notable partnership, formalized through an MOU between the Asia-Pacific Centre for Arbitration & Mediation (APCAM) and the Union of Chambers and Commodity Exchanges of Turkey Arbitration Center (TOBBUYUM), aims to bolster cross-border trade and strengthen business relations between the two countries. #Spearheading this initiative is Sr. Adv. Anil Xavier, Chairman of APCAM, and Ms. Iram Majid, Executive Director of APCAM, whose expertise and dedication to ADR are expected to drive significant improvements in commercial relations and international dispute resolution....

#India and Turkey Collaborate to Enhance Global Trade through ADR Initiatives In a landmark effort poised to reshape international arbitration and mediation, India and Turkey have entered into a strategic collaboration to promote. #In a landmark effort poised to reshape international arbitration and mediation, India and Turkey have entered into a strategic collaboration to promote Alternative Dispute Resolution (ADR). This notable partnership, formalized through an MOU between the Asia-Pacific Centre for Arbitration & Mediation (APCAM) and the Union of Chambers and Commodity Exchanges of Turkey Arbitration Center (TOBBUYUM), aims to bolster cross-border trade and strengthen business relations between the two countries. #Spearheading this initiative is Sr. Adv. Anil Xavier, Chairman of APCAM, and Ms. Iram Majid, Executive Director of APCAM, whose expertise and dedication to ADR are expected to drive significant improvements in commercial relations and international dispute resolution....

International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract. Arbitration agreements and arbitral awards are enforced under the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the "New York Convention").[2] The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration, but it is limited to investor-state dispute settlement. The New York Convention was drafted under the auspices of the United Nations and has been ratified by more than 150 countries, including most major countries involved in significant international trade and economic transactions. The New York Convention requires the states that have ratified it to recognize and enforce international arbitration agreements and foreign arbitral awards issued in other contracting states, subject to certain limited exceptions. These provisions of the New York Convention, together with the large number of contracting states, have created an international legal regime that significantly favours the enforcement of international arbitration agreements and awards. It was preceded by the 1927 Convention on the Execution of Foreign Arbitral Awards in Geneva. #spanishspeakinglitigatorandarbitor

Obtained some interesting insights in Geneva yesterday evening at an event organised by London Court of International Arbitration (LCIA) and Orrick, Herrington & Sutcliffe LLP on international arbitration and commodities. Speakers: James Hargrove (Orrick, Herrington & Sutcliffe LLP), Michael Buisset (HFW ), Jacomijn van Haersolte-van Hof (director general, (London Court of International Arbitration (LCIA), @Jules Drye (Metinvest), Neal Sawatzke (Cargill International SA), @George Spalton KC (4 New Square), Kate Cervantes-Knox FCIArb (independent arbitrator), Vicken Bayramian (Field Solutions), @Jean-François Van Hollebeke ( Louis Dreyfus Company). A combination of Covid, sanctions, the war in Ukraine, piracy in the Red Sea, all contributing to market volatility, have led to commodity disputes' constituting the largest catehory of disputes before the LCIA. Where previously disputes arose between 3-5 years after conclusion of the contract, the period is now between 1 to 2 years. The amounts in dispute have also increased. English law is still predominantly the law of the contract, but the seats can be all over the world (which the LCIA can accommodate). Issues of force majeure ("Is Covid an act of God?") frequently feature. Users of arbitration in the commodities sector want a combination of legal certainty, commerciality/technical expertise. Trade arbitral bodies (e.g. Gafta: The Grain and Feed Trade Association, FOSFA, etc) can provide commerciality/technical expertise but not necessarily legal expertise. In principle, with parties' being able to choose their arbitrators, there's no reason why they shouldn't have both with an LCIA arbitration.