International Arbitration Yearbook

Total Page:16

File Type:pdf, Size:1020Kb

International Arbitration Yearbook The Baker McKenzie International Arbitration Yearbook Arbitration International McKenzie The Baker 11th Edition 2017-2018 The Baker McKenzie International Arbitration Yearbook The Baker McKenzie International Arbitration Yearbook 2017 - 2018 © 2018 Baker McKenzie www.bakermckenzie.com All rights reserved This is the 11th edition of the Baker McKenzie International Arbitration Yearbook, an annual series established by the Firm in 2007. The Yearbook comprises reports on arbitration from key jurisdictions around the globe. Leading lawyers of the Firm’s International Arbitration Practice Group, a division of the Firm’s Global Dispute Resolution Practice Group, report on recent developments in national laws relating to arbitration, set out key features of their local institutions, and address current arbitral trends in the jurisdictions in which they practice. The aim of this Yearbook is to highlight the more important developments in international arbitration, without aspiring to be an exhaustive case reporter or a text- book to arbitration in the broad sense. 2018 Arbitration Yearbook | Contents Table of Contents Foreword .............................................................................................. 1 Editors .................................................................................................. 3 Topics ................................................................................................... 9 Abbreviations and Acronyms ............................................................. 11 Argentina ............................................................................................ 15 Australia ............................................................................................. 25 Austria ................................................................................................ 37 Belarus ................................................................................................ 43 Belgium .............................................................................................. 47 Brazil .................................................................................................. 55 Canada ................................................................................................ 63 Chile ................................................................................................... 75 China .................................................................................................. 85 Colombia ............................................................................................ 93 Czech Republic ................................................................................. 101 France ............................................................................................... 109 Germany ........................................................................................... 121 Hong Kong ....................................................................................... 133 Hungary ............................................................................................ 145 India .................................................................................................. 151 Indonesia .......................................................................................... 163 Italy ................................................................................................... 169 Japan ................................................................................................. 181 Kazakhstan ....................................................................................... 185 Kyrgyzstan ........................................................................................ 193 Baker McKenzie | i Malaysia ........................................................................................... 199 Mexico .............................................................................................. 207 Myanmar .......................................................................................... 211 The Netherlands................................................................................ 217 Peru ................................................................................................... 229 Philippines ........................................................................................ 235 Poland ............................................................................................... 245 Russia ............................................................................................... 253 Saudi Arabia ..................................................................................... 263 Singapore .......................................................................................... 267 South Africa ..................................................................................... 277 South Korea ...................................................................................... 287 Spain ................................................................................................. 297 Sweden ............................................................................................. 309 Switzerland ....................................................................................... 319 Thailand ............................................................................................ 331 Turkey .............................................................................................. 343 Ukraine ............................................................................................. 351 United Arab Emirates ....................................................................... 359 United Kingdom ............................................................................... 369 United States ..................................................................................... 381 Uzbekistan ........................................................................................ 395 Venezuela ......................................................................................... 399 Vietnam ............................................................................................ 403 Summary of Arbitral Rules .............................................................. 409 ii | Baker McKenzie 2018 Arbitration Yearbook | Foreword Foreword Welcome to the 11th edition of the Baker McKenzie International Arbitration Yearbook. Once again we have drawn upon the expertise of colleagues around the world to outline key developments in international arbitration over the past year. Our unparalleled global network allows us to present analysis not just from the main arbitration centers, but from all corners of the world. Our practice conducts more international arbitrations than any other Firm1, and we aim to distil that wide-ranging experience in the pages before you. As usual, Section A of each country chapter outlines changes to institutional rules and local legislation, Section B describes important new case law, and Section C covers our special topic - more on which below. This has been a typically busy year for our industry. Arbitration volume has increased at most of the major institutions. Ever- increasing competition for arbitration work has continued to drive reforms aimed at improving procedural efficiency. The last few years have seen a wave of updates to institutional rules, and this has continued during 2017, with revised rules from the ICC and SCC, amongst others. Some institutions have also introduced new standalone rules for investment arbitration, such as SIAC and CIETAC. As usual, a number of jurisdictions have amended their national laws to support and enhance the use of arbitration. Most notably, both Singapore and Hong Kong have legislated to allow the use of third- party funding in arbitration. We have chosen funding as our special topic for this edition. Funding of arbitration involves a difficult balancing act between, on the one 1 GAR30, 2017. Baker McKenzie | 1 hand, the wish to improve access to justice and respect freedom of contract, and on the other hand, the wish to protect against conflicts of interest. In many cases, legislatures have avoided or not engaged with this balancing act, and as a result the law is uncertain, or reflects long- standing legal dogma. There are also more detailed points of principle where guidance is needed. Should funded parties to arbitration have to disclose the fact of their funding? If so, should they have to disclose the terms of those arrangements? Should communications between a party and its funder be protected by privilege? Should funding costs ever be recoverable? There is no widespread academic consensus on these points, but we may expect further debate following the publication of the long- awaited ICCA-Queen Mary report at the ICCA Congress in April 2018. We have much else to look forward to in 2018, with new rules to take effect at the DIS, DIAC and HKIAC, and new arbitration laws expected in places such as Argentina, Australia, South Africa and the UAE. As always, you will be able to read about those developments in the next edition of the Yearbook. Once again, we owe our thanks to our Executive Editor, Benjamin Roe, for doing much of the heavy lifting on this project and the fine editing evident within these pages. Leng Sun Chan, SC Global Head of Arbitration, Baker McKenzie 2 | Baker McKenzie 2018 Arbitration Yearbook | Editors The Baker McKenzie International
Recommended publications
  • Participant Bios
    Johan Aalto Senior Partner, Hannes Snellman PRACTICE AND EXPERIENCE Johan Aalto is Hannes Snellman’s Senior Partner. He specializes in mergers and acquisitions, corporate finance and capital markets, with an emphasis on public takeovers. During the last few years, Johan has been involved in some of the largest and most complex transactions in Finland. He also focuses on corporate governance issues and acts as the chairman of general meetings of several listed companies in Finland. Johan has been awarded the honorary title Lagman by the President of the Republic of Finland. MEMBERSHIPS AND POSITIONS OF TRUST • Member of the committee preparing the first Finnish guidelines on takeovers (the Helsinki Takeover Code), 2007 • Board memberships in several companies • Member of the Finnish Bar Association, 1991 EDUCATION AND PROFESSIONAL BACKGROUND • Senior Partner, 2009 • Managing Partner, Hannes Snellman, 2005-2009 • Partner, Hannes Snellman, 1994 • Master of Laws, University of Helsinki, 1987 Nigel Boardman Partner, Slaughter and May Nigel’s broad practice includes domestic and international corporate finance, mergers and acquisitions, joint ventures, IPOs, demergers, private acquisitions and disposals, private equity, public takeovers, issues of compliance and corporate governance, investigations and insolvency, restructurings, investigations and sports law. Nigel has received a number of accolades, including: • The Financial Times’ Special Achievement Award • Chambers Directories Lifetime Achievement award • Lawyer of the Decade award from Financial News (2015) • included in Debrett’s ‘Who’s Who’ • ranked as a “star performer” for Corporate and M&A work by Chambers in its U.K., Europe and Global directories • identified as a “Thought Leader” for M&A and Corporate Governance work in Who’s Who Legal: Thought Leaders 2017 Nigel is a consulting editor of the Oxford University Press’ ‘Annotated Companies Acts’ and is on the Editorial Board of the ‘Journal for Corporate and Commercial Law and Practice’.
    [Show full text]
  • RBI's 1St Ever CFO & Other Influential Women in Banking & Business
    RBI's 1st Ever CFO & Other Influential Women in Banking & Business Sector! In the advanced era, women are taking charge of almost every sector from creating new business, acquiring companies and representing some of the top banks and financial institutions in the country. Where Ms. Sudha Balakrishnan has been appointed as the Chief Financial Officer (CFO) of the Reserve Bank of India; Indra Nooyi, CEO of PepsiCo is the common resident of Forbes List of Most Powerful Women & Influential Businesswomen in the World. There are many such exceptional professionals who are taking decisions that affect future of millions of people across the country and the globe. Here's the list of Most influential Indian Women in Banking & Business sector. If you are preparing for SSC, Banking or other Government Exams, it is very important that you know about these women, their career trajectory and importance of their business and work as you are bound to have questions based on this list in the General Awareness section of these exams. Most Influential Women in Banking and Business Sector The following list encompasses the most Powerful Women in Banking and Business Sector. All of them have found places in the Top 100 or Top 50 in surveys conducted by international firms like Forbes and Fortune. Let’s have a look at some top notch influential women, which are important from the exam point of view. 1 | P a g e 1. SUDHA BALAKRISHNAN • Former Executive of National Securities Depository Limited, Sudha Balakrishnan has been appointed as the first Women Chief Financial Officer of Reserve Bank of India (RBI) adding another feather to her cap.
    [Show full text]
  • Chryscapital Wins VCC Circle Fund Manager of the Year
    4/1/2019 Morgan Stanley buys majority stake in warehouse developer KSH Infra HOME (HTTPS://WWW.VCCIRCLE.COM/) / FINANCE (HTTPS://WWW.VCCIRCLE.COM/INDUSTRY/FINANCE) FINANCE (HTTPS://WWW.VCCIRCLE.COM/INDUSTRY/FINANCE) Mankind Pharma, IIFL Wealth, Byju's, ChrysCap, KKR among winners of VCCircle Awards By Debjyoti Roy (https://www.vccircle.com/author/debjyoti-roy) 14 February, 2019 Winners of VCCircle Awards 2019 Drugmaker Mankind Pharma Ltd, ed-tech venture Byju's, homegrown private equity rm ChrysCapital and global alternative asset manager KKR are among the winners of the VCCircle Awards 2019. The annual awards, now in their eighth year, felicitate PE- and venture capital-backed companies in key sectors as well as investment funds, law rms and investment bankers. The winners were awarded on Thursday as part of the VCCircle India Limited Partners Summit 2019, held at ITC Grand Central in Mumbai. The winners were chosen based on the recommendation of an eminent ve-member jury. The jury comprised Keki Mistry, CEO at Housing Development Finance Corporation; Gopal Srinivasan, chairman and managing director at TVS Capital Funds Ltd; Michael Liu, senior vice president at Portfolio Advisors; Sameer Garde, president (India and SAARC), Cisco; and Anjali Bansal, founder of Avaana Capital. Plastic products maker Supreme Industries Ltd; IIFL Wealth Management Ltd, a unit of nancial services company IIFL Holdings; Mahindra & Mahindra Ltd, part of the diversied Mahindra Group; HL Agro Products, one of the country’s top exporters of sesame seeds and corn products; and Bangalore International Airport Ltd bagged the portfolio company awards in their respective sectors. The awards also recognised top PE and VC fundraisers, as also the exit of the year based on annualised return, or the internal rate of return (IRR).
    [Show full text]
  • Speaker Biographies
    Speaker Biographies Ope Adebanjo ’20, Student, Harvard Law School Ope Adebanjo is a second year JD Candidate at Harvard Law School. She graduated from Harvard College in 2015 and majored in Comparative Literature and African Studies, with a minor in Sociology and a citation in Yoruba. Ope worked as an operations supervisor at McMaster-Carr Supply Company in Atlanta GA, managing teams of e-commerce and sales representatives and managing warehouse projects and operations during her time before law school. She also has her Masters in International Business from J. Mack Robinson College of Business at Georgia State University. As a HLS student, Ope is interested in intellectual property law and international business law with a focus on the intersection of policy and technology. Kendra Albert ’16, Clinical Instructional Fellow, Cyberlaw Clinic, Harvard Law School Kendra is a clinical instructional fellow at the Cyberlaw Clinic at Harvard Law School, where they teach students how to practice law by working with pro bono clients. Previously, they were an associate at Zeitgeist Law PC, a boutique technology law firm in San Francisco, and a research associate at the Berkman Klein Center for Internet and Society. Kendra’s scholarship and academic work touches on diverse issues, from online harassment to linkrot to video game preservation. They hold a JD cum laude from Harvard Law School and a bachelor’s degree in lighting design and history from Carnegie Mellon University. Julie Anna Alvarez ’88, Director of Alumni and International Career Services, Columbia Law School Julie Anna Alvarez is the Director of Alumni and International Career Services at Columbia Law School’s Office of Career Services and Professional Development.
    [Show full text]
  • You Haven't Seen Anything
    (220000 ( BEST UNDER A BILLION PRICE RS. 100. AUGUST 17, 2012 INDIA YOU HAVEN’T SEEN ANYTHING Ratan Tata’s corporate innings was spectacular. Now, he’s ready to take YET the Tata trusts to the next level. www.forbesindia.com Letter From The Editor Goodbye Tata, Hello World! very year, after we publish before perspective on how the trusts the much-awaited Forbes list have evolved—but also why they’re E of the 100 Richest Indians, shortly set for a radical rethink. I invariably get letters from readers On December 28 this year, when Ratan enquiring why Ratan Naval Tata’s Tata turns 75, it will bring the curtains name is missing from our list. I’ve down on one of the most impactful even had a few foreign journalists tenures in India Inc. However, if you’re EVEN THOUGH THEIR based in India and abroad call me to expecting Tata to hang up his boots and WORK HAS TOUCHED enquire whether the unique ownership settle into a quiet life of retirement inside SEVERAL MILLION model—where a set of trusts own 66 his newly built sea-facing mansion in INDIANS OVER MANY percent of Tata Sons—was for real. Colaba in the southern tip of Mumbai, DECADES, THERE HAS For decades, the workings of the trusts you could be in for a surprise. SELDOM BEEN ANY have remained shrouded in secrecy. Unknown to the world, Tata has ATTEMPT TO CLAIM Despite several attempts in the past, been actively preparing for a plunge CREDIT OR SEEK no media publication has succeeded into the world of philanthropy.
    [Show full text]
  • Speaker Biographies
    Speaker Biographies Ope Adebanjo ’20, Student, Harvard Law School Ope Adebanjo is a second year JD Candidate at Harvard Law School. She graduated from Harvard College in 2015 and majored in Comparative Literature and African Studies, with a minor in Sociology and a citation in Yoruba. Ope worked as an operations supervisor at McMaster-Carr Supply Company in Atlanta GA, managing teams of e-commerce and sales representatives and managing warehouse projects and operations during her time before law school. She also has her Masters in International Business from J. Mack Robinson College of Business at Georgia State University. As a HLS student, Ope is interested in intellectual property law and international business law with a focus on the intersection of policy and technology. Kendra Albert ’16, Clinical Instructional Fellow, Cyberlaw Clinic, Harvard Law School Kendra is a clinical instructional fellow at the Cyberlaw Clinic at Harvard Law School, where they teach students how to practice law by working with pro bono clients. Previously, they were an associate at Zeitgeist Law PC, a boutique technology law firm in San Francisco, and a research associate at the Berkman Klein Center for Internet and Society. Kendra’s scholarship and academic work touches on diverse issues, from online harassment to linkrot to video game preservation. They hold a JD cum laude from Harvard Law School and a bachelor’s degree in lighting design and history from Carnegie Mellon University. Julie Anna Alvarez ’88, Director of Alumni and International Career Services, Columbia Law School Julie Anna Alvarez is the Director of Alumni and International Career Services at Columbia Law School’s Office of Career Services and Professional Development.
    [Show full text]
  • Globalization, Lawyers, and Emerging Economies: the Rise, Transformation, and Significance of the New Corporate Legal Ecosystem in India, Brazil, and China
    \\jciprod01\productn\H\HLI\61-2\HLI205.txt unknown Seq: 1 11-AUG-20 7:10 Volume 61, Number 2, Summer 2020 Globalization, Lawyers, and Emerging Economies: The Rise, Transformation, and Significance of the New Corporate Legal Ecosystem in India, Brazil, and China David B. Wilkins,* David M. Trubek** & Bryon Fong*** Beginning in the 1990s, India, Brazil, and China have each developed a distinct corporate legal “ecosystem,” comprised of new (or newly repurposed) domestic corporate law firms, foreign law firms competing (on the ground or virtually) to serve both foreign and domestic clients, general counsel offices of both domestic and multinational companies, and law schools either designed or retooled to supply lawyers qualified to practice corporate law. In this Article, we utilize data from an unprecedented set of empirical studies to document the rise of this new corporate ecosystem in these three important emerging economies, and to develop grounded theory about the forces that have produced this transformation and that help to explain differences among the ecosystems that have developed in each jurisdiction. Specifically, we argue that differ- ences in what we call the “micro-level gearing” in the relative importance of the three key elements in the corporate legal ecosystems that have developed in India, Brazil, and China—law firms, clients, and legal education—can be explained, in part, by differences in what we will call the “macro-level gearing” in the relative power of the state, the market, and the bar—both between all three countries and the United States, and among the three jurisdictions. This difference has been most pronounced in China, where the dominance of the “state gear” in shaping the corporate legal market contrasts sharply with both the U.S.
    [Show full text]
  • Foreign Participants (PDF)
    Name: Datin Paduka Hajah Adina Othman Position: Deputy Minister, Ministry of Culture, Youth and Sports Country of Origin: Brunei Biography: ADINA OTHMAN is the Deputy Minister of Culture, Youth and Sports since May 2010. She graduated from University of Kent, and University College, London in 1977 and 1980 respectively. Her working experiences encompass the fields of culture, youth and sports and community development. She is also a former Commissioner for ASEAN Commission on the Promotion and Protection of the Rights of Women and Children. She is a leading proponent on the rights of women and children and other vulnerable groups and delivered various papers in areas covering Community Development and Women issues. It is an undeniable fact that in order to achieve real and lasting progress, women must be placed at the forefront of the socio-economic agenda. Empowering women is key towards a more sustainable and better quality of life for all. Our presence here today and our achievement to date is living testament of that fact. It is therefore a privilege and an honour for me to be among the contributors of such progress at the World Assembly for Women in Tokyo 2014. This Assembly allows us to reaffirm our commitment to the continued participation of women and press towards a more equitable society for us all. I wish to congratulate Japan for organizing such a prestigious event and pray that the successful convening of WAW! Tokyo 2014 would spur women’s power from strength to strength for the benefit of all – men, women and children and towards enhancing greater peace and understanding in the world.
    [Show full text]
  • IMF's 1St Women Chief Economist & Influential Women in Banking
    IMF's 1st Women Chief Economist & Influential Women in Banking & Business Sector! In this advanced era, women are taking charge of almost every sector from creating new business, acquiring companies and representing some of the top banks and financial institutions in the country. Where Gita Gopinath is appointed as the Chief Economist of the International Monetary Fund, Ms. Sudha Balakrishnan has been appointed as the Chief Financial Officer (CFO) of the Reserve Bank of India; Indra Nooyi, CEO of PepsiCo is the common resident of Forbes List of Most Powerful Women & Influential Businesswomen in the World. There are many such exceptional professionals who are taking decisions that affect future of millions of people across the country and the globe. If you are preparing for SSC, Banking or other Government Exams, it is very important that you know about these Most influential Indian Women in Banking & Business sector. You can download this list as PDF to revise later. Most Influential Women in Banking and Business Sector The following list encompasses the most Powerful Women in Banking and Business Sector. All of them have found places in the Top 100 or Top 50 in surveys conducted by international firms like Forbes and Fortune. Let’s have a look at some top-notch influential women, which are important from the exam point of view. 1. GITA GOPINATH • Gita Gopinath is the first lady who is been appointed as Chief Economist of International Monetary Fund. • She is a professor of International Studies & of Economics at Harvard University. • She was named one of the Top 25 economists under 45 by IMF in the year 2014.
    [Show full text]
  • List of Participants As of 30 April 2013
    World Economic Forum on India List of Participants As of 30 April 2013 National Capital Region, Gurgaon, India, 6-8 November 2012 Zoher Abdoolcarim Asia Editor Time International Hong Kong SAR Asanga Executive Director Lakshman Kadirgamar Sri Lanka Abeyagoonasekera Institute for International Relations and Strategic Studies Anoka Abeyrathne Co-Founder and Volunteer GreentheClimate.org Sri Lanka Reuben Abraham Executive Director, Centre for Emerging Indian School of Business India Markets Solutions Pranav Adani Managing Director, Agro and Oil & Gas Adani Group India Philippe Advani Vice-President, Global Sourcing Network EADS Germany Vineet Agarwal Joint Managing Director Transport Corporation of India India Ltd Bina Agarwal Professor of Development Economics University of Manchester United Kingdom Manoj Kumar Chief Executive Officer, Indian Karuturi Global Limited India Agarwal Operations Nirmal Kumar Director Adhunik Metaliks Limited India Agarwal (AML) Aakarsh Agarwal Director Adhunik Metaliks Limited India (AML) Anup Agarwalla Managing Director B L A Industries Pvt. Ltd India Manish Agrawal Director MSP Steel & Power Ltd India Nisha Agrawal Chief Executive Officer Oxfam India India Saurabh Agrawal Regional Head, Corporate Finance, Standard Chartered Bank India South Asia Montek Singh Deputy Chairman, Planning Ahluwalia Commission, India Richie Ahuja Asia Regional Director Environmental Defense Fund USA Joiel Akilan Executive Director and Chief BBVA India India Representative Satohiro Akimoto General Manager, Global Intelligence, Mitsubishi Corporation Japan Global Strategy and Business Development Vikram K. Akula Social Entrepreneur, India Muhammad Ali Chairman Securities and Exchange Pakistan Commission of Pakistan (SECP) Michael W. Allworth Global Chairman, Cities Centre of KPMG Australia Excellence Shubhendu Amitabh Group Executive President The Aditya Birla Group India World Economic Forum on India 1/16 Manu Anand Chairman and Chief Executive Officer PepsiCo India Holdings Pvt.
    [Show full text]
  • Zia Mody: a Chip Off the Old Block
    Zia Mody: A Chip off the Old Block Daughter of legal luminary Soli Sorabjee, Zia Mody has proved a chip of the old block. A gifted legal giant like her father, she is trusted by most corporate houses including Tatas, Birlas, Mittals, Ambanis and so on, who would not conclude big deals without soliciting her advice. Ketan Mistry traces the inspiring tale of Zia Mody’s saga of struggle and success. Looking at her father in awe, the young, wide-eyed 8 year old girl always finds her father immersed in heaps of voluminous books. Her father is a renowned solicitor. Piles of books lay on the dining table, as the Solicitor is multitasking by simultaneously attending to his meals, intermittent calls and examining the files on hand. The awestruck girl could not stop marveling: how her father manages everything at a time. At that moment, she resolves to be a lawyer. Like her father. It is all four and a half decade ago. Today the young girl has grown into a fine lawyer herself, famous in her own rights. She is Zia Mody and her father is a legendary legal luminary, former Advocate General of India and constitution expert Soli Sorabjee. Zia Mody’s company AZB & Partners has already made its mark across the world. It is first among the top ten companies in India in the field of Merger & Acquisition. Acquisition, incidentally means when a company buys up a new company and merger means when a company merges itself with another company and expands after becoming part of it.
    [Show full text]
  • The Changing Landscape of M&A in India
    A conference presented by the Corporate and M&A Law Committee, supported by the IBA Asia Pacific Regional Forum The Changing Landscape of M&A in India 18–19 March 2016, The Taj Mahal Palace, Mumbai, India Once again this conference will bring together some of the world’s leading practitioners to examine the past, present and future of the M&A market in India and identify opportunities and potential issues for those wanting to do business in the region. Topics will include • The role of private equity in India’s economic growth • Merger control: game changer in doing business in India • The rise of corporate governance and shareholder activism in India • Emerging tax themes affecting M&A transactions in India • The 2013 Companies Act – a critique • India’s investment climate Headline conference sponsor REGISTER BEFORE 19 FEBRUARY 2016 TO RECEIVE EARLY REGISTRATION DISCOUNTS UP TO 11 CPD/CLE BOOK NOW AT WWW.IBANET.ORG/CONFERENCES/CONF697.ASPX HOURS AVAILABLE* Programme Conference Co-Chairs Christian Herbst Schoenherr, Vienna; Co-Chair, IBA Corporate and M&A Law Committee Cyril Shroff Cyril Amarchand Mangaldas, Mumbai Friday 18 March ALL SESSIONS WILL TAKE PLACE IN THE CRYSTAL ROOM, THE TAJ MAHAL PALACE 0830 – 0900 Registration and welcome coffee/tea 1115 – 1230 Regulatory changes influencing foreign investment in 0900 – 0910 Welcome remarks by the Conference Co-Chairs India – is there finally some regulatory clarity? Christian Herbst Panellists will discuss recent key M&A developments in India, including the Cyril Shroff liberalisation of a number of key sectors such as defence and insurance. This panel will analyse the consequences of the flurry of wide-ranging legal 0910 – 1000 Keynote address/special address reforms that have been adopted by the Indian government.
    [Show full text]