Page 73 - Arbitration Act News Today

The court need not interfere with an arbitral award under challenge if the arbitrator had taken a different but possible view on the same evidence.

The annulment proceedings in the Yukos case, initiated by Russia with the aim of setting aside the largest arbitral awards in history, may finally be coming to an end.(1) An interim decision of 4 December 2020 by the Supreme Court and the opinion of the advocate general of 23 April 2021 seem to have given away which party is likely to prevail in this long-running saga. Facts The Yukos saga started in 2005 when VPL, YUL and Hulley (Yukoss shareholders) filed requests for arbitration in United N...

By Paul Teo and Natalie Wong 2021-05-24T05:18:00+01:00 Continuing our series on operating under foreign jurisdictions, Paul Teo and Natalie Wong examine the opportunities in a Singapore that is set to thrive post-covid As construction projects around the world face multitudinous covid-related hurdles centred around labour, supply chain, financing and regulatory issues, Singapore’s methodical approach to the pandemic has allowed it to recover more quickly than most. This has created loc...

What has changed? While there are a number of minor changes, the key changes for end users are as follows: Additional guidance on the preparation and content of witness statements has been provided. Parties must now provide more detailed cost estimates within LMAA Questionnaires. Virtual and semi-virtual hearings are formally recognised. The LMAA president may appoint a substitute arbitrator where it becomes apparent that one of the original arbitrators is incapable of conducting the proceeding...

What is the legal framework for patent litigation in Norway? The Patent Act(2) constitutes the basic legislative framework regarding patents and their extent under Norwegian law. The Patent Act regulates the registration, administrative opposition, cancellation and invalidation of patents as well as the regular material terms for patentability. Although not a member of the European Union, Norway remains internationally obliged to follow the rules of the European Patent Convention (EPC) by way o...

The final day of London International Disputes Week discussed rising global nationalism and its impact on London’s influence in African arbitrations, as Africa establishes more arbitration centres and experiences a technology boom.

Udayan Regmi May 16, 2021 Comments Photo: Flickr Arbitration, as a means to resolve the dispute between parties, is gradually gaining popularity. Nepal enacted the Arbitration Act,1999, with an aim to update the laws relating to arbitration as mentioned in the preamble of the act. Arbitration is regarded as a form of alternative dispute resolution, which is a legal technique of settlement of disputes outside the court, in which the disputing parties refer the case to an impartial or neutral th...

Cairn Begins Process To Seize Indian Overseas Assets To Recover $1.7 Billion Cairn Begins Process To Seize Indian Overseas Assets To Recover $1.7 Billion Sources in the government said India will take all necessary steps to defend against any such "illegal enforcement action". Cairn has hired hiring a team of asset recovery experts to recover the damages. New Delhi: UKs Cairn Energy Plc has brought a lawsuit in the US to pierce the corporate veil between the Indian government and its owned...

There are a number of reasons for Ireland to be cautious about this particular trade agreement

Petrotrin to challenge $74m arbitration award Petrotrin refinery in Marabella, San Fernand. Photo by Marvin Hamilton PETROTRIN has another opportunity to resist the enforcement of a $74 million arbitration award to a contractor. In a recent decision, Justices of Appeal Peter Rajkumar and James Aboud allowed Petrotrin’s appeal of a judge’s decision to dismiss its application to have an arbitration award set aside. In their decision, the judges said Justice Ricky Rahim should have first cons...