ECUADOR INTRODUCES REGULATIONS TO ITS ARBITRATION AND MEDIATION ACT

After rejoining the ICSID Convention in June 2021, Ecuador has made a further contribution to the growth of international arbitration within its borders. On August 18, 2021, President Guillermo Lasso issued Executive Decree No. 165-2021, introducing the Regulations to the Arbitration and Mediation Act (the “Regulations”). Ecuador’s Arbitration and Mediation Act was originally enacted in … Read more

KEY JUDGMENT ON ARBITRATION CLAUSES AFFECTING THOUSANDS OF COMMERCIAL CONTRACTS

Herbert Smith Freehills has secured an important victory in Hong Kong proceedings with far-reaching consequences for arbitration disputes around the world. Many commercial contracts contain “escalation clauses” requiring parties to take certain steps before formal arbitration begins – such as a requirement to “negotiate in good faith” before starting arbitration. Previously, failure to comply with … Read more

JUDICIAL COMMITTEE OF THE PRIVY COUNCIL FINDS THAT NO EXPRESS ALLEGATION, CONSIDERATION OR FINDING OF ‘SUBSTANTIAL INJUSTICE’ IS REQUIRED TO ESTABLISH A SERIOUS PROCEDURAL IRREGULARITY

In the recent decision of RAV Bahamas Ltd and another v Therapy Beach Club Incorporated the Judicial Committee of the Privy Council (the “Privy Council”) considered that s90 of the Bahamas Arbitration Act 2009 (the “Bahamas Arbitration Act”) – which provides for challenges to arbitration awards on the grounds of serious irregularity – did not … Read more