ICSID and ECT awards are not assignable under English law
The enforcement in England & Wales of an ICSID award cannot be assigned to a third party without consent of the respondent State.
Case notes
Loss of damages in a Gafta contract
A Gafta award is set aside and the innocent party’s right to damages is lost because he failed to raise a decisive point in the arbitration, according to the Commercial Court.
Mediation not a condition precedent to arbitration
It is unlikely that parties who chose to include an arbitration provision in their contract intended for arbitration to be conditional on a prior attempt to mediate the dispute, according to the English Commercial Court.
Violation of due process rules in investment law
The findings made in a separate arbitration are not conclusive evidence and cannot be relied upon by the tribunal without affording the parties an opportunity to contest them, according to an ICSID Ad hoc Committee
Assignment of rights on ICSID investment awards
“As a matter of construction of the ICSID Convention, awards made in arbitrations convened in accordance with it are not capable of assignment”, says the English High Court.
What is the time-bar for a challenge of a Fosfa/Gafta Arbitration Award?
Parties seeking to challenge arbitral appeal awards (including FOSFA and GAFTA awards) must bring any challenge within 28 days from the date of the appeal award and not the date they receive it, according to recent decision.
Tension between the FET standard and the investor ‘s duty of due diligence.
An ICSID Tribunal sheds light on the tension between the fair and equitable treatment (FET) and the importance of investor due diligence
Clash between institutional and ad hoc arbitration clauses
“Ad hoc arbitration and an institutional arbitration under the ICC Rules are fundamentally different beasts, and indeed have fundamentally different contractual consequences.”, according to English courts.
US Court confirms legal force of ICSID Annulment Decision in LBKM v. Armenia
The ICSID annulment decision in LBKM v. Armenia “stands as the operative outcome” for the purposes of enforcement, and must be given full effect by domestic US courts.
Can long-term loans be considered “investments”?
An ICSID tribunal finds that long-term loan agreements qualify as “investments” under Article 1(6) of the ECT and Article 25 of the ICSID Convention, thus fulfilling the case-law requisites of contribution, duration and risk.
The legal status of “investor”
In Czech Republic v Diag Human SE, the Court of Appeal decided that, to qualify as an investor under the bilateral investment treaty, a legal entity from a third state must be de jure (rather than de facto) controlled by a qualifying national or entity.
What is the effect of a dispute resolution clauses in a settlement agreement?
A dispute resolution clause in a settlement or termination agreement supersedes a dispute resolution clause in an earlier agreement, according to a recent decision of the Chancery Division.
