In February 2020, the Hong Kong International Arbitration Centre (the “HKIAC”) and the Vienna International Arbitration Centre (the “VIAC”) jointly applied to the Russian Ministry of Justice (the “MOJ”) and the Council for the Development of Arbitration at the MOJ (the “Council”) for clarification of certain “grey areas” of Russian Arbitration legislation (the “Joint Request“). Both arbitration institutions have recently published the response issued by the Working Group No. 2 on Foreign Arbitral Institutions of the Council (the “Working Group”) on the questions posed in the Joint Request (the “Response“). Although the position in the Response was declared to be non-binding on the Russian courts, the Working Group’s views might impact Russian court practice on the reformed arbitration legislation.
Tag: Arbitration law
On July 3, 2018, Uruguay passed its International Commercial Arbitration Act after its upper house, the Chamber of Senators, signed off the draft in May. A day later, it was Argentina’s turn. These enactments mark the final step of a long awaited reform of the Argentinean and Uruguayan arbitration legislations, and finally place them on an equal footing with neighbouring states.
On 9 January 2018, amendments were passed to the Supreme Court of Judicature (Amendment) Act (“SCJA “) which clarify that the Singapore International Commercial Court (“SICC“) has jurisdiction to hear proceedings relating to international commercial arbitration. The amendments also abolish the pre-action certificate procedure for applications to the SICC.
Established in 2015 as the ‘international’ division of the Singapore High Court, the SICC has gone from strength to strength in a short span of time, gaining a reputation for the quality and speed of judgments rendered. Since its establishment the SICC has heard 17 cases on matters ranging from construction, investment, banking and finance, and shipbuilding, all of which are high value cases involving international parties and counsel.
These latest amendments, along with the addition of four new esteemed international jurists to the SICC bench, are intended to further increase the popularity and usage of the SICC, and Singapore as a preferred seat of international arbitration. Continue reading
On 9 March 2017, the Arbitration Amendment Bill (Bill) was introduced to the New Zealand Parliament. The Bill proposes to amend the Arbitration Act 1996 (Act), and follows recommendations by the Arbitrators’ and Mediators’ Institute of New Zealand (AMINZ).
The proposed changes include:
- permitting the inclusion of arbitration clauses in trust deeds;
- greater confidentiality of arbitration-related court proceedings; and
- narrowed grounds for the set-aside of an arbitral award.
Other amendments to the Act came into effect on 1 March 2017, which we earlier reported on here.
On 15 December 2013, the Dubai International Financial Centre (DIFC) Authority enacted Law No.6 of 2013 (Arbitration Amendment Law) which amended the DIFC Arbitration Law to make it clear that the DIFC Courts have the power to stay court proceedings in favour of a foreign seated arbitration. This is a welcome development and brings clarity to an area of DIFC law where there was arguably an inconsistency with the UAE’s obligations under the New York Convention.