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In 1961, Aron Broches, then-General Counsel of the International Bank for Reconstruction and Development (IBRD), developed the idea for a multilateral agreement on a process for resolving individual investment disputes on a case-by-case basis as opposed to imposing outcomes based on standards. Broches held conferences to consult legal experts ...
International arbitration is an alternative to local court procedures. International arbitration has different rules than domestic arbitration, [6] and has its own non-country-specific standards of ethical conduct. [7] The process may be more limited than typical litigation and forms a hybrid between the common law and civil law legal systems. [8]
Instead, it provides "judicial supervision of arbitration proceedings". [2] The court's official working languages are English and French. Cases can be administered in any language. It is headquartered in Paris, France. As of 9 January 2020, the court has registered 25,000 cases, including an annual record of 869 in 2019. [3]
CME v. Czech Republic and Lauder v.Czech Republic were parallel cases decided by two different arbitral tribunals in 2001. The difference in the two cases' outcomes is a prime example of conflicting decisions in international arbitration and is the subject of many treatises, with some authors going as far as calling it "the ultimate fiasco in investment arbitration".
The Malaysia Sulu case is an international legal dispute in which persons claiming to be heirs of the Sultanate of Sulu made claims against the government of Malaysia by way of arbitration. The claims were subsequently litigated in the Spanish, French, and Dutch court systems. [ 1 ]
International Centre for Settlement of Investment Disputes – International arbitration institution affiliated with the World Bank (ICSID) International investment agreement – Treaty on interstate investments; Philip Morris v. Uruguay – Arbitration case on smoking regulations; Trans-Pacific Partnership – 2016 proposed trade agreement (TPP)
The Philip Morris v.Uruguay case (Spanish: Caso Philip Morris contra Uruguay) was an investor-state dispute settlement case initiated on 19 February 2010 and concluded on 8 July 2016, in which the multinational tobacco company Philip Morris International (PMI), whose head office is located in Lausanne, [1] lodged a complaint against Uruguay that was resolved by international arbitration under ...
Nations regulate arbitration through a variety of laws. The main body of law applicable to arbitration is normally contained either in the national Private International Law Act (as is the case in Switzerland) or in a separate law on arbitration (as is the case in England, Republic of Korea and Jordan [24]). In addition to this, a number of ...
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