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Top News In துரிதப்படுத்தப்பட்டது ப்ரொஸீஜர் விதிகள் Today - Breaking & Trending Today

Fed Govt agrees to pay $200m settlement for $900m Mambila power |

Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
The Federal Government has agreed to pay $200 million to Sunrise Power and Transmission Company Limited (SPTCL) as final settlement of the dispute over the Mambila power project in Taraba State.
The settlement deal signed on January 21, 2020, was sealed by Minster of Power, Sale Mamman, and Attorney-General of the Federation, Abubakar Malami.
The 3,050-megawatt (Mw) facility will be the second largest hydropower plant in Africa if completed, but has suffered severe delays since construction began almost 40 years ago.
In 2017, Sunrise Power, which claimed to have been awarded the build, operate and transfer (BoT) contract in 2003, dragged the Federal Government and its Chinese partners before the International Chamber of Commerce (ICC) in Paris, France, over alleged breach of contract. ....

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Making good on the promise of arbitration: Is expedited arbitration the answer? - International Law

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The promise of arbitration has traditionally centred
upon a faster, more efficient, and less costly way of resolving
commercial disputes. The reality of arbitration proceedings,
however, does not always deliver on this promise.
Surveys conducted in recent years suggest that cost and delay are some of the
negative and discouraging characteristics of international
arbitration. They also show a commercial imperative to simplify the
arbitral processes, including in particular for lower-value
claims.
The findings, whilst perhaps not entirely surprising, have
alarmed the arbitration community. Helpfully, however, a number of ....

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The New ICC Arbitration Rules | Morrison & Foerster LLP

The International Chamber of Commerce (the
ICC) has hit the ground running in the new year with its 2021 Arbitration Rules (the
2021 Rules), which came into force on and apply to cases filed from 1 January 2021. The 2021 Rules mark the second update of arbitration rules by a major arbitral institution after the beginning of the COVID-19 pandemic. As covered in our previous client alert, the 2020 Arbitration Rules of the London Court of International Arbitration (the
LCIA) took effect three months ago, on 1 October 2020 (the
2020 LCIA Rules).
This alert discusses the key changes introduced by the 2021 Rules and highlights points of convergence with the recent updates introduced by the 2020 LCIA Rules. ....

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Revised ICC Arbitration Rules | WilmerHale

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The International Chamber of Commerce (ICC) has released revised arbitration rules, which are expected to become effective from 1 January 2021 and apply to arbitration proceedings commenced after that date. The Revised Rules can be found here. The previous two revisions to the ICC Rules were in 2017 (see our comments here) and 2012 (see our comments here).
The Revised Rules, which are intended to provide “further steps towards greater efficiency, flexibility and transparency,”
1 cover a wide range of issues and include a number of new provisions. Among other changes, the Revised Rules address joinder and consolidation of multi-party arbitrations; remote hearings and the use of technology; equality in the constitution of a tribunal; disclosure in third-party funding arrangements; nationality and emergency arbitration for treaty-based arbitrations; powers of the tribunal where there is change in party couns ....

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