CANADA’S NEW 2021 MODEL BIT

On May 12, 2021, Canada published its new Model Foreign Investment Promotion and Protection Agreement (the “New Model BIT”), revising the 2004 Model Agreement for the Promotion and Protection of Investments (the “2004 Model BIT”). The New Model BIT modernizes Canada’s framework and brings a few interesting innovations in the Bilateral Investment Treaty (“BIT”) world. … Read more

UNCITRAL PUBLISHES INITIAL DRAFT ON THE REGULATION OF THIRD-PARTY FUNDING IN INVESTOR-STATE DISPUTE SETTLEMENT

The UNCITRAL Secretariat has published initial draft provisions on the regulation of third-party funding in Investor-State Dispute Settlement (ISDS). The draft presents various potential models that the Working Group on Investor-State Dispute Settlement Reform (Working Group III, the “Working Group”) may adopt for regulating third-party funding. It includes proposed definitions, possible sanctions for inadmissible third-party … Read more

UPDATE ON THE FUTURE OF ISDS: WORKING GROUP III UNCITRAL DISCUSSIONS OF FEBRUARY 2021

The United Nations Commission on International Trade Law’s (“UNCITRAL“) Working Group III (Investor-State Dispute Settlement Reform) (“WGIII“)​ has published the advance copy of its report (the “Report“) on the work conducted between 8 and 12 February 2021 during its resumed 40th session. The Report provides details about the discussions around the following issues: (i) the selection and … Read more

HERBERT SMITH FREEHILLS TO PARTICIPATE IN LONDON INTERNATIONAL DISPUTES WEEK

London International Disputes Week 2021 (LIDW21) comes at a significant period for the UK legal sector, in the wake of the Covid-19 pandemic, post-Brexit and amid an uncertain global political environment. With its theme: “Looking forward: change, challenge and opportunity”, LIDW21 will provide crucial insights on the business and law of international dispute resolution. The programme draws … Read more

SCOTTISH INDEPENDENCE: THE INTERNATIONAL LAW IMPLICATIONS

The prospect of an independent Scotland raises a number of significant questions as to the impact on the rights and obligations of both Scotland and the rest of the UK (rUK) under international law. This short article highlights some of the key international law implications of Scottish independence and how they may impact on private … Read more

NEW PROCEDURAL RIGHTS FOR INVESTORS AS INDONESIA-SINGAPORE BIT COMES INTO FORCE

Since Indonesia announced its intention to terminate and replace “all of its 67 bilateral investment treaties” (BITs) in 2014, the State has actively re-negotiated several BITs. Starting with some of its largest trading partners in the region, Indonesia signed new BITs with Singapore in 2018 and Australia in 2019. On 9 March 2021, the Agreement … Read more

THE TREATY ON THE PROHIBITION OF NUCLEAR WEAPONS ENTERS INTO FORCE

The Treaty on the Prohibition of Nuclear Weapons (the “Treaty“) entered into force on 22 January 2021. The Treaty is the first treaty to ban nuclear weapons, and has received support to date from 88 States. Background The Treaty was adopted by the United Nations General Assembly on 7 July 2017 and has been open … Read more

THE EU AND CANADA ADOPT PROCEDURAL RULES FOR THE CETA INVESTMENT COURT SYSTEM

On 29 January 2021, the European Union (“EU”) and Canada adopted four decisions (the “Decisions”), which put in place specific rules elaborating the Investment Court System (“ICS”) agreed in the EU-Canada Comprehensive Economic and Trade Agreement (“CETA”). The Decisions set out detailed rules and procedures regarding the structure of the Appellate Tribunal and the conduct … Read more