Seasons Greetings
Mayer Brown's Festive List
Dear Friends and Colleagues
As the festive season approaches, we have a special gift for you: our personal pick of the top 10 International Arbitration developments across the globe this year……Introducing Mayer Brown’s Festive List!
The International Arbitration landscape remains a fast-paced and complex one and we are proud to work alongside you to navigate such interesting and challenging matters. We wish you an enjoyable festive season and look forward to working with you in 2025.
(1) UniCredit v. RCA: UK Supreme Court decision
The decision affirms the power of the English courts to protect arbitration agreements (“AA”) governed by English law through the issue of anti-suit injunctions (“ASI”), where parties breach their contractual obligations to arbitrate disputes. We explore the key takeaways from the case - which is the leading authority on ASIs for foreign-seated AAs – focusing on the jurisdictional basis for ASIs, as well as the underlying policy framework. We also explore how the Arbitration Bill will change the position in UniCredit.
From our International Arbitration team
To learn more about our International Arbitration practice, visit mayerbrown.com
"2024 has been a very exciting year with many important International Arbitration developments across the globe. The UK Supreme Court’s decision in UniCredit demonstrates London’s strong commitment to preserving International Arbitration not only in London but across the globe where English law has been applied. This is also supported by the new Arbitration Bill that further improves the legal environment for International Arbitration in London. However, important developments in International Arbitration have also been made across the globe and we capture many of these in our Festive List above, which we hope you enjoy reading."
Raid Abu-Manneh
Head of International Arbitration (IA), London and Global Leader for IA
CLOSE
(3) The UK Arbitration Bill
The UK Arbitration Bill is now being debated in the House of Commons and could be enacted by the end of 2024. We explore the latest amendments to the Bill since it was re-introduced by the Labour government in July 2024. Our Arbitration Act Insights page also went live this year enabling you to follow our detailed commentary on the contents of, and passage of, this bill.
(4) Heirs to the Sultanate of Sulu v Malaysia
The Paris Court of Appeal ordered the suspension of set-aside proceedings initiated against the final award rendered in a dispute between the two parties, pending the French Court of Cassation’s decision on a challenge to enforcement of an earlier partial award on jurisdiction in the same arbitration proceedings. This decision highlighted the discretion of the French courts to stay concurrent proceedings, in the interest of procedural economy and good administration of justice, pending the outcome of the first.
(2) Arbitration Amidst Adversity
In May 2024, we launched our new interview series, hosted by Volodymyr Yaremko, which delves into the experiences of women in arbitration navigating the challenges (and opportunities) they face while living through the Russian invasion of Ukraine. We captured the personal stories of three remarkable Ukrainian women: Svitlana Romanova (Chief Legal Officer at Metinvest), Olena Perepelynska (Partner and Head of Arbitration at Integrities), and Tatyana Slipachuk (Special Advisor at Sayenko Kharenko).
(5) ArbitrateAD
2024 saw the opening of the new Abu Dhabi International Arbitration Centre (branded "arbitrateAD"), replacing the previous Abu Dhabi Commercial Conciliation and Arbitration Centre ("ADCCAC"). We summarised 12 key features of ArbitrateAD’s new Arbitration Rules, which apply to cases filed with ArbitrateAD on or after 1 February 2024, together with guidance for parties in the region.
(6) Singaporean Conditional Orders
In Voltas Ltd v. York International Pte Ltd [2024] SGCA 12, the Singapore Court of Appeal held that (i) an award containing conditional orders could be regarded as a final award that disposed of all remaining claims in the arbitration and (ii) any reservation of jurisdiction in an otherwise final award must be made expressly. This case highlights the importance of tribunals and parties ensuring that an award contains an express reservation of jurisdiction, where it is intended that the tribunal will retain jurisdiction to decide future issues.
(10) HKIAC’s Revised Administered Arbitration Rules
HKIAC updated their flagship Administered Arbitration Rules, effective from 1 June 2024. Key changes include: aligning the consequential effect of proper commencement of a single arbitration under multiple contracts with a decision to consolidate two+ arbitrations, powers enabling HKIAC and tribunals to enhance the efficiency of arbitration, making diversity a consideration for appointments, widened scope for electronic communication and new provisions on information security, environmental impact and costs.
(8) New York court upholds lakah award
An October 2024 decision by the United States District Court for the Southern District of New York marks the end of the Lakah brothers' challenges to resist being held personally liable under arbitration agreements in Eurobond documents; their unsuccessful appeal highlights that corporate veil piercing remains a powerful tool in New York-seated arbitrations.
(7) Russia: Investment Protection and Arbitration
In our newly launched Series, we explore topics focused on the recourse available to international investors who have suffered losses in Russia or Ukraine due to Russia’s invasion of Ukraine. We cover: the US Government's Business Advisory about maintaining Russian operations, the launch of the Register of Damage for Ukraine, the Russian Decree providing for confiscation of US-related assets, the impact of Russian law changes and sanctions on dispute resolution, and navigating arbitrator appointments caught in geopolitical crossfire.
(9) Mexico & Honduras - Developments impacting foreign investors
Mexico's controversial judicial reforms, which took effect on 1 October 2024, have injected a considerable level of uncertainty into the Mexican legal landscape. We explore its likely impacts, including: increased risk of investment disputes and trade disputes under the US-Mexico-Canada Agreement plus ramifications for sectors reliant on foreign investment. Separately, following Honduras’ denouncement of the ICSID Convention in February 2024, we recommend that investors with investments in Honduras who have potential claims should quickly analyse their options. We outline potential options for investors.
UniCredit v RCA
(UK Supreme Court)
To see all the other topics that we wrote about this year, take a glance at our International Arbitration Insights page.
UniCredit v RCA
(UK Supreme Court)
"We are grateful to our international arbitration clients around the world for their continued trust and support in Mayer Brown. We wish you a joyful and festive year-end holiday season and look forward to catching up in 2025."
Yu-Jin Tay
Head of International Arbitration, Asia
CLOSE
"This year we’ve seen a lot of developments potentially impacting foreign investment and the protection of foreign investors’ rights. We have therefore prepared various Legal Insights aimed at foreign investors who may be adversely impacted by significant global events like the ongoing war in Ukraine, Mexico’s controversial judicial reform and Honduras’ decision to denounce the ICSID Convention. We remain at your disposal to assist should your business encounter challenges or simply need a guiding hand. We look forward to continuing to work alongside you in 2025."
Dany Khayat
Head of International Arbitration & Litigation, Paris
CLOSE
Seasons Greetings
Mayer Brown's Festive List
Dear Friends and Colleagues
As the festive season approaches, we have a special gift for you: our personal pick of the top 10 International Arbitration developments across the globe this year……Introducing Mayer Brown’s Festive List!
The International Arbitration landscape remains a fast-paced and complex one and we are proud to work alongside you to navigate such interesting and challenging matters. We wish you an enjoyable festive season and look forward to working with you in 2025.
(1) UniCredit v. RCA: UK Supreme Court decision
The decision affirms the power of the English courts to protect arbitration agreements (“AA”) governed by English law through the issue of anti-suit injunctions (“ASI”), where parties breach their contractual obligations to arbitrate disputes. We explore the key takeaways from the case - which is the leading authority on ASIs for foreign-seated AAs – focusing on the jurisdictional basis for ASIs, as well as the underlying policy framework. We also explore how the Arbitration Bill will change the position in UniCredit.
From our International Arbitration team
To learn more about our International Arbitration practice, visit mayerbrown.com
"2024 has been a very exciting year with many important International Arbitration developments across the globe. The UK Supreme Court’s decision in UniCredit demonstrates London’s strong commitment to preserving International Arbitration not only in London but across the globe where English law has been applied. This is also supported by the new Arbitration Bill that further improves the legal environment for International Arbitration in London. However, important developments in International Arbitration have also been made across the globe and we capture many of these in our Festive List above, which we hope you enjoy reading."
Raid Abu-Manneh
Head of International Arbitration (IA), London and Global Leader for IA
CLOSE
(3) The UK Arbitration Bill
The UK Arbitration Bill is now being debated in the House of Commons and could be enacted by the end of 2024. We explore the latest amendments to the Bill since it was re-introduced by the Labour government in July 2024. Our Arbitration Act Insights page also went live this year enabling you to follow our detailed commentary on the contents of, and passage of, this bill.
(4) Heirs to the Sultanate of Sulu v Malaysia
The Paris Court of Appeal ordered the suspension of set-aside proceedings initiated against the final award rendered in a dispute between the two parties, pending the French Court of Cassation’s decision on a challenge to enforcement of an earlier partial award on jurisdiction in the same arbitration proceedings. This decision highlighted the discretion of the French courts to stay concurrent proceedings, in the interest of procedural economy and good administration of justice, pending the outcome of the first.
(2) Arbitration Amidst Adversity
In May 2024, we launched our new interview series, hosted by Volodymyr Yaremko, which delves into the experiences of women in arbitration navigating the challenges (and opportunities) they face while living through the Russian invasion of Ukraine. We captured the personal stories of three remarkable Ukrainian women: Svitlana Romanova (Chief Legal Officer at Metinvest), Olena Perepelynska (Partner and Head of Arbitration at Integrities), and Tatyana Slipachuk (Special Advisor at Sayenko Kharenko).
(5) ArbitrateAD
2024 saw the opening of the new Abu Dhabi International Arbitration Centre (branded "arbitrateAD"), replacing the previous Abu Dhabi Commercial Conciliation and Arbitration Centre ("ADCCAC"). We summarised 12 key features of ArbitrateAD’s new Arbitration Rules, which apply to cases filed with ArbitrateAD on or after 1 February 2024, together with guidance for parties in the region.
(6) Singaporean Conditional Orders
In Voltas Ltd v. York International Pte Ltd [2024] SGCA 12, the Singapore Court of Appeal held that (i) an award containing conditional orders could be regarded as a final award that disposed of all remaining claims in the arbitration and (ii) any reservation of jurisdiction in an otherwise final award must be made expressly. This case highlights the importance of tribunals and parties ensuring that an award contains an express reservation of jurisdiction, where it is intended that the tribunal will retain jurisdiction to decide future issues.
(10) HKIAC’s Revised Administered Arbitration Rules
HKIAC updated their flagship Administered Arbitration Rules, effective from 1 June 2024. Key changes include: aligning the consequential effect of proper commencement of a single arbitration under multiple contracts with a decision to consolidate two+ arbitrations, powers enabling HKIAC and tribunals to enhance the efficiency of arbitration, making diversity a consideration for appointments, widened scope for electronic communication and new provisions on information security, environmental impact and costs.
(8) New York court upholds lakah award
An October 2024 decision by the United States District Court for the Southern District of New York marks the end of the Lakah brothers' challenges to resist being held personally liable under arbitration agreements in Eurobond documents; their unsuccessful appeal highlights that corporate veil piercing remains a powerful tool in New York-seated arbitrations.
(7) Russia: Investment Protection and Arbitration
In our newly launched Series, we explore topics focused on the recourse available to international investors who have suffered losses in Russia or Ukraine due to Russia’s invasion of Ukraine. We cover: the US Government's Business Advisory about maintaining Russian operations, the launch of the Register of Damage for Ukraine, the Russian Decree providing for confiscation of US-related assets, the impact of Russian law changes and sanctions on dispute resolution, and navigating arbitrator appointments caught in geopolitical crossfire.
(9) Mexico & Honduras - Developments impacting foreign investors
Mexico's controversial judicial reforms, which took effect on 1 October 2024, have injected a considerable level of uncertainty into the Mexican legal landscape. We explore its likely impacts, including: increased risk of investment disputes and trade disputes under the US-Mexico-Canada Agreement plus ramifications for sectors reliant on foreign investment. Separately, following Honduras’ denouncement of the ICSID Convention in February 2024, we recommend that investors with investments in Honduras who have potential claims should quickly analyse their options. We outline potential options for investors.
UniCredit v RCA
(UK Supreme Court)
To see all the other topics that we wrote about this year, take a glance at our International Arbitration Insights page.
UniCredit v RCA
(UK Supreme Court)
"We are grateful to our international arbitration clients around the world for their continued trust and support in Mayer Brown. We wish you a joyful and festive year-end holiday season and look forward to catching up in 2025."
Yu-Jin Tay
Head of International Arbitration, Asia
CLOSE
"This year we’ve seen a lot of developments potentially impacting foreign investment and the protection of foreign investors’ rights. We have therefore prepared various Legal Insights aimed at foreign investors who may be adversely impacted by significant global events like the ongoing war in Ukraine, Mexico’s controversial judicial reform and Honduras’ decision to denounce the ICSID Convention. We remain at your disposal to assist should your business encounter challenges or simply need a guiding hand. We look forward to continuing to work alongside you in 2025."
Dany Khayat
Head of International Arbitration & Litigation, Paris
CLOSE
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