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The English High Court decision of Bond v Mackay and others  EWHC 2475 (TCC) concerned a situation where, when a claimant sought to bring further issues before an arbitral tribunal, the court was asked to determine whether those issues fell...
Significant amendments to Russia’s arbitration laws (the “New Laws”) came into force back in September 2016. The New Laws are intended to create modern and effective mechanisms for domestic and international arbitration in Russia,...
In Dera Commercial Estate v Derya Inc  EWHC 1673 (Comm), the English Commercial Court provided useful guidance on when arbitration claims may be dismissed for inordinate and inexcusable delay under s.41(3) Arbitration Act 1996 (the...
In Reliance Industries v Union of India  EWHC 822 Reliance Industries Limited and BG Exploration and Production India Limited (the “Claimants”) challenged awards made in favour of the Union of India (the “Government”)...
17 March 2017 Duncan Hedar, England & Wales; Europe
Following an application by Romania and the European Commission (as intervener), the English High Court has stayed enforcement of an ICSID award in favour of Swedish business magnates the Micula brothers. The case will be determined following the decision of the General Court of the European Union in connected proceedings brought by the Micula brothers to annul the Commission’s determination that the payment of the ICSID award by Romania would amount to illegal State aid. The case raises important questions about the effectiveness of ICSID awards in circumstances where the awards clash with Member States’ obligations under EU law.
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