Arbitration news round-up to 27 July 2016 | Practical Law

Arbitration news round-up to 27 July 2016 | Practical Law

Developments that may be of interest to arbitration practitioners for the week to 27 July 2016.

Arbitration news round-up to 27 July 2016

Practical Law UK Legal Update 0-631-5452 (Approx. 3 pages)

Arbitration news round-up to 27 July 2016

Published on 27 Jul 2016ExpandEngland, Hong Kong - PRC, International...Mauritius, Russian Federation, The Netherlands, USA (National/Federal), Wales
Developments that may be of interest to arbitration practitioners for the week to 27 July 2016.
We report in brief below on other developments that may be of interest to arbitration practitioners:
  • In Vincent J. Ryan, and others v Republic of Poland (ICSID Case No. ARB(AF)/11/3) (a decision from November 2015 but only recently published), the majority of an ICSID Additional Facility tribunal rejected claims by US investors based on tax measures taken by Poland. The tribunal found that it did not have jurisdiction over certain claims and that others failed on the merits. Professor Orrego Vicuna issued a partial dissenting opinion finding that the tax measures were in part to blame for the loss of the claimants' investment and constituted a breach of the fair and equitable treatment standard, which should also have been reflected in the costs decision.
  • On 20 July 2016, the UK International Trade and Investment Agreements (Ratification) Bill 2016-17 had its first reading, at which there was no debate. The Bill requires the Secretary of State to lay bilateral and multilateral trade and investment agreements before Parliament and prohibits the implementation of such agreements without approval by resolution of each House. It also provides a process for the amendment of such agreements, including any arrangements for investor-state dispute settlement. The Bill is expected to have its second reading debate on 28 October 2016.
  • It has been reported that Ecuador has paid US$112 million to energy company Chevron over its long standing contractual dispute.
  • On 15 June 2016, Linda Landén (Frank Advokatbyrå), Bodil Ehlers (Kastell Advokatbyrå) and Sandra Hein Kaznova (Hammarskiöld & Co) were elected as new board members in the network Swedish Women in Arbitration (SWAN).