Diversity considerations are under more scruinity in the field of arbitration, with ICSID as well as other arbitration institutions having been perceived as a Caucasian male-dominated forum.
In December 2013, an ICSID Tribunal awarded the Micula brothers substantial damages against Romania in respect of the latter’s withdrawal of an investment incentive programme.
On 1 January 2017, the first edition of the SIAC Investment Arbitration Rules came into effect. The rules address issues that are unique to international investment arbitration proceedings.
On 13 December 2016, an award given by the China International Economic and Trade Arbitration Commission (CIETAC Hong Kong) was enforced in mainland China for the first time.
On 30 October 2016, the Comprehensive Economic and Trade Agreement (CETA) was adopted by the Council and signed at the EU-Canada Summit. Once applied, CETA will provide EU firms with better business opportunities in Canada as well as support job expansion in the EU.
In October 2016, the ICC Executive Board approved changes to the ICC Rules, which will take effect as of 1 March 2017.
Choosing a suitable seat of arbitration is of paramount importance. The decision will play a vital role in how the arbitral proceedings are conducted, especially with regard to the involvement of domestic courts.
A detailed review of the case where COMMISA and PEP entered into a contract that provided that the former would build oil platforms in the Gulf of Mexico.