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On 1 March 2019, the revised Swedish Arbitration Act entered into effect following a nearly five-year long legislative process to update the Swedish Arbitration Act of 1999.
The revised Act aims to make the arbitration process more efficient and...
Last month, the International Centre for Settlement of Investment Disputes (ICSID) published a compendium of state and public comments on proposed amendments to its procedural rules for resolving international investment disputes. It also issued a...
On 7 September 2017, Belgium requested the opinion of the Court of Justice of the European Union (“CJEU”) on the compatibility with EU law of the Investment Court System (“ICS”) provided for by the Comprehensive Economic and...
The Hong Kong Government has announced that amendments to the Arbitration Ordinance, allowing for third party funding of arbitration in Hong Kong, will come into effect on 1 February 2019. This is a long awaited and highly anticipated development. In...
In General Dynamics UK Ltd v Libya Queen's Bench Division  EWHC 64 (Comm), the English Commercial Court held that an arbitral award against a State cannot be enforced in the United Kingdom without service on that State of court documents in...
In early January, the EU Member States announced their intention to terminate all intra-EU bilateral investment treaties. Their declarations come in reaction to last year’s Achmea-decision on intra-EU investor-state dispute settlement....
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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