International arbitration report

Global Publication December 2021

Welcome to issue 17 of Norton Rose Fulbright’s International Arbitration Report.

In this issue, we again cover a broad spectrum of important issues in international arbitration, with a focus on international arbitration developments and important revisions to major arbitral rules and guidance.

We are joined in this issue by Claudia Salomon, recently appointed President of the ICC International Court of Arbitration, who speaks to us about her role and aspirations during her tenure.

We review recent arbitration reforms in the South Pacific, designed to attract foreign investment, as well as third party funding in Asia Pacific, with updates from Australia, Singapore, Hong Kong and India.

There have been a number of important decisions by the Court of Justice of the European Union which impact the application of the Energy Charter Treaty in the EU, in particular addressing what qualifies as an investment under the ECT as well as further curtailing intra-EU investment arbitration under both the ECT and ad hoc agreements made between EU investors and EU Member States. We consider what these mean for foreign investors looking to invest in the EU as well as those with legacy investments or disputes.

We also continue our series looking at climate change and sustainability disputes, this time focusing on disputes between foreign investors and States, and we consider the role of international arbitration in resolving such disputes.

Our lawyers consider the risks of a sovereign debt crisis, and potential implications for investors. We also cover the new Draft ICSID Code of Conduct for Adjudicators in International Investment Disputes – offering a useful summary in time for the next round of negotiations.

P.R.I.M.E. Finance has launched its new Arbitration Rules and we look at what has changed and get views from Camilla Macpherson, Head of Secretariat, P.R.I.M.E. Finance Foundation, and Professor Dr Georges Affaki, who chaired the drafting group.

Last but not least, we analyse the important changes to Dubai’s international arbitration regime, with the abolition of the DIFC-LCIA Arbitration Centre and Emirates Maritime Arbitration Centre, as new life is breathed into the Dubai International Arbitration Centre.


Q&A with Claudia Salomon
President of the ICC International Court of Arbitration

Promoting investment through arbitration
Recent reforms in the South Pacific

Third Party Funding in the Asia-Pacific
An update on recent developments in Australia, Singapore, Hong Kong and India

New P.R.I.M.E. Finance Arbitration Rules
P.R.I.M.E. Finance enhances efficiency and transparency with revised arbitration rules

Are we facing a sovereign debt crisis?
Disputes risk implications for investors

Important developments in the application of the Energy Charter Treaty within the EU
EU closes its grip on intra-EU arbitration

New draft ICSID Code of Conduct for Adjudicators in International Investment Disputes
An overview of key changes

New life breathed into DIAC as axe falls on DIFC-LCIA
What you need to know about the changes

Climate change and sustainability disputes between foreign investors and States
Key arbitration examples (Part 2 investment disputes)


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