International updates

Arbitration & ADR

Strategic enforcement tips for in-house counsel
  • International
  • June 21 2018

While there are cases that involve claims for declaratory relief or specific performance, disputes are most often about payment. A claimant goes into battle – spending time and money to develop strong arguments and clever case theories – only if it expects the proceedings to result in a payout. There are several strategic steps that in‑house counsel can take throughout the process to maximise their chances of securing payment.

Enforcement proceedings against state entities – from one end to another
  • International
  • June 14 2018

In most jurisdictions, when it comes to enforcing an arbitral award against a non-paying or recalcitrant state or a state-owned entity, the road can be long and full of obstacles. Enforcing parties should be mindful of the jurisdiction-specific nuances of enforcing awards in different countries, as well as the tactics commonly used by recalcitrant parties to obstruct or delay enforcement.

Enforcement regimes under New York and Washington Conventions – a tale of two cities
  • International
  • June 07 2018

There are two principal treaties which govern the enforcement of international arbitral awards in foreign jurisdictions: the New York Convention and the Washington Convention. The success of international arbitration (both commercial and investment treaty arbitration) can be attributed in large part to the global enforcement regimes created under these treaties. While the New York Convention is broader in scope, it contains more grounds for resisting enforcement than the Washington Convention.

60th anniversary of New York Convention: a Q&A
  • International
  • May 24 2018

In 2018 the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (known as the New York Convention) will celebrate its 60th anniversary. The New York Convention governs two fundamental aspects of international arbitration – namely, how states will treat arbitration agreements and arbitral awards that were made in other jurisdictions. There are 157 contracting states to the convention, which creates an almost universal regime governing these two important issues.

Is international arbitration really more expensive?
  • International
  • January 04 2018

Broadly speaking, the cost of a dispute includes parties' expenses in relation to attorney fees, procedural costs (court or arbitration fees) and additional expenses (eg, transport and food costs). In terms of these costs, on a superficial analysis, arbitration appears costlier than litigation, as the parties must pay arbitrators' fees, while judges are paid by the government of the countries where the dispute occurs. However, on a more careful analysis, it is evident that the inverse conclusion is true.


Aviation

Liberalising aviation in Africa: overview of single air transport market
  • International
  • April 11 2018

In January 2018 the single African air transport market (SAATM) was formally launched. Its principal objective stems from the Yamoussoukro Decision, which provided for the full liberalisation of intra-African air transport services in terms of market access. The SAATM is a welcome development; however, to reap the full potential of the initiative, the African Union must do all that is necessary to ensure that the resources, infrastructure and capacity required to grow the aviation sector are available.

Liberalising aviation in Africa: the Yamoussoukro Decision
  • International
  • February 14 2018

The African Union endorsed the Yamoussoukro Decision in 2000 and it became fully binding in 2002. Its rationale was the need to foster socio-economic development in Africa – policymakers recognised that aviation and a competitive aviation market could be decisive for unlocking Africa's economic potential. However, the agreement has not been fully implemented by its signatories.

IATA – new restrictions for air transport of lithium batteries
  • International
  • July 26 2017

The International Air Transportation Association (IATA) Dangerous Goods Regulations – the only standard recognised by airlines – contain the globally applicable provisions for shipping dangerous goods by air. A violation of the regulations might lead to criminal proceedings and infringements are a notifiable fact to be reported to the competent authority. In order to assist shippers in understanding the complete requirements, IATA has prepared the Lithium Battery Shipping Guidelines.

Digital currency in aviation financing
  • International
  • July 05 2017

A key component which promotes growth in the aviation industry is the availability of capital to finance aircraft transactions. Although the existing methods for financing aircraft are acceptable, they have some notable flaws. Conversely, a number of possible benefits exist for airlines that choose to accept digital currency for financing transactions in the sector.

ICAO strikes deal on first global market-based measure for aviation emissions
  • International
  • January 25 2017

After years of protracted negotiations, the General Assembly of the International Civil Aviation Organisation recently created the first global market-based measure to attempt to contain aviation emissions. However, the new scheme has significant limitations, leaves questions unanswered and mechanics undetermined, and – in the view of many non-governmental organisations – does not sufficiently address the ongoing dangers posed by aviation greenhouse gas emissions.


Company & Commercial

Results of ISS 2017-2018 global policy survey
  • International
  • October 23 2017

International Shareholder Services recently released the results of its 2017-2018 global policy survey. The results reveal mixed views on multi-class capital structures, share buybacks and virtual annual meetings, but strong opinions on board gender diversity. However, although almost 70% of investors viewed as problematic the absence of any women on a board, making board diversity a reality seems to be a tougher proposition.


Competition & Antitrust

Behavioural antitrust in a nutshell
  • International
  • November 09 2017

According to traditional antitrust theory, individuals (and firms) maximise utility according to stable preferences and rational expectations, while being well informed. This means that antitrust follows microeconomic bases that lead to the assumption that economic players are rational actors with willpower and self-interest. However, the emergence of behavioural economics shows that people do not necessarily behave in the ways that traditional economic principles would predict.


Construction

Updated FIDIC contracts 2017 – what has changed?
  • International
  • May 14 2018

The International Federation of Consulting Engineers (FIDIC) Contracts Committee recently unveiled the much-anticipated new suite of rainbow contracts, with the publication of amended Red, Yellow and Silver Books. The changes reflect only some of the key amendments introduced by the revised 2017 FIDIC contracts. Nevertheless, the changes are significant and it will undoubtedly take time for contracting parties to become familiar with the revised contracts.

New international information management standard
  • International
  • July 24 2017

A new draft international standard providing information management guidance when using building information modelling has been issued for public comment. The standard is split into two parts. The first part deals with concepts and principles and applies to the whole lifecycle of a built asset, while the second deals with the delivery phase of assets and enables the client or appointing organisation to establish its requirements for information during the delivery phase of assets.