Welcome to issue 6 of Norton Rose Fulbright’s International arbitration report.
The possibility of Brexit (British exit from the European Union, EU) is getting ever closer, with the UK’s referendum on whether the UK should remain a member of the EU set down for 23 June 2016. If Brexit indeed becomes reality, there may be consequences for Australian issuers in the Eurobonds market and UK or European issuers accessing Australian domestic capital markets.
Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
The BC legislature recently enabled an expanded spill preparedness and response regime. Bill 21 creates a new part of the Environmental Management Act (EMA) administered by the BC Ministry of Environment.
Do you wish to keep valuable employees who are about to retire, but are you afraid termination will be difficult if they remain employed? As of this year, risks related to hiring employees who have reached the state pension age (an Older Employee) are considerably reduced, e.g. the duration of the prohibition to terminate and the obligation to continue to pay wages during illness is significantly shortened. This is due to the implementation of the Working after state pension age Act (the Act). The most important changes resulting from the Act are discussed below.
The Climate Change Mitigation and Low-carbon Economy Act (Act) was recently passed by the Ontario legislature.
On June 1, 2016, amendments affecting litigation before Russian Arbitrazh (commercial) courts will come into effect. The Arbitrazh Procedure Code of the Russian Federation (“APC”) will provide for manda-tory pre-trial procedures for most commercial disputes. As a general rule, the claimant will need to send a claim letter to the respondent before commencing litigation.
On May 13, 2016, the Office of the President of the Republic published Decree No. 2,323 in Extraordinary Official Gazette No. 6,227, declaring a ‘State of Exception and Economic Emergency’ (the Economic Emergency Decree).
We speak with Richard Naimark, Senior Vice President of ICDR Global Operations, about the ICDR’s extensive presence in Latin America, its efforts to address party and counsel misbehavior, and its unique experience with implementing and managing emergency arbitrators.
Philip Morris Asia’s claim against Australia concerning Australia’s plain packaging laws has come to an end. The tribunal ruled (in December 2015) that it had no jurisdiction to decide the claim, which was filed in 2011, under the 1993 HK–Australia BIT.
The current methods of enforcement for international mediated settlement agreements – by way of litigation or arbitration; enabling legislation; and consent awards – are considered inadequate. To address this matter, UNCITRAL has undertaken work on creating a new legal instrument for the expedited enforcement of such agreements.
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