- India launches the Mumbai Centre for International Arbitration (MCIA)
India seeks
to be a new arbitration hub with the creation of MCIA. By this point,
arbitration proceedings in India were preferably ad hoc and the major cases
involving Indian companies were conducted outside its borders (for instance,
30% of arbitration cases in Singapore involved companies from India). With the
creation of this institution, India intends to adjust its arbitration system to
the standards accepted by international practice in order to become the new hub
for arbitration.
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- Glencore manifest its intention to initiate an arbitration against Bolivia
This is
another situation of a government nationalizing the investment of a foreign
investor. On August 13, it came to the news Glencore´s statement about
initiating arbitration against Bolivia. The Swiss corporation said it was
trying to solve the dispute amicably. However, the negotiations had not been
successful so far and it looks like an arbitration will be unavoidable at this
point. The Government of Bolivia states that the nationalization respected the
public interest.
The case
relates back to nationalization occurred in 2007 and 2010.
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- U.S. – Banks use arbitration to bar consumers´ lawsuits
According
to a NY Times Blog, researchers found that banks increased the number of
arbitration clauses in contracts with their customers. In addition, when researchers
asked consumers about this subject, they answered that they would like to have
the option to file actions in courts, especially, in class actions cases.
Nonetheless, only a small portion of unsatisfied costumers said they would file
lawsuits to settle disputes about fees with their banks, even when there is
option of going to courts.
This
situation is leading to a debate about a new regulation on the matter, by which
arbitration clauses would not be allowed to bar class actions on consumer/banks
litigation.
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- India's minister of finance pitches for BRICS arbitration platform
The
Minister of finance of India, Mr. Arun Jaitley, spoke at the conference on
'International arbitration in BRICS' encouraging BRIC countries to create their
own arbitration mechanisms. He argued that developed nation dominate the field
and arbitral awards are usually against the developing world. In addition, Mr.
Jaitley reinforced the importance of dispute resolution mechanisms to foster
trade between nations. Finally, he suggested the creation of a task force of
specialists from the BRICS in order to discuss and design a model for these
countries.
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- Number of arbitration cases continue to increase worldwide
After the
arbitral institutions released their caseloads from 2015, Baker and McKenzie
platform Globalarbitrationnews released
a compilation of the data from 11 of the top institutions. The added number of
cases increased from 4130 cases in 2012 to 5207 in 2015.
It is impressive
that Asia is the leading force for the growth of arbitration cases. The most
impressive number is the Chinese CIETAC, who added more than 900 cases in this
period.
Finally,
the data also shows an increase of women´s participation as arbitrators. This fact
is noteworthy, because men traditionally perform this role. The change in this
pattern is still small though.
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