Showing posts with label News. Show all posts
Showing posts with label News. Show all posts

Friday, March 15, 2013

Istanbul to have its own arbitration court

Deputy Prime Minister Ali Babacan delivers a speech on ‘Turkish economy and
investment opportunities’ at International real estate expo MIPIM in Cannes. AA photo
Deputy Prime Minister Ali Babacan delivers a speech on ‘Turkish economy and investment opportunities’ at International real estate expo MIPIM in Cannes. AA photo
Turkey is set to establish a privately managed arbitration center in Istanbul in which companies can apply to solve their problems before filing lawsuits at courts, the deputy prime minister has said.

“We’re establishing a new body which will be mainly managed by private-sector representatives for companies to be able solve their problems and disputes at a center also headed by the private sector,” Deputy Prime Minister Ali Babacan said.

The body will not sideline the judiciary but will help solve problems if both parties are willing.

The minister also hinted that Turkey may conduct a secondary public offering for state-run
lender Vakıfbank in the second half of the year, adding that its free float could be raised from 25 to
49 percent.

“Vakıfbank is the priority in public offerings. I see the possibility of an initial public offering for Ziraat Bank this year as quite low,” Babacan said.

Touching on the public offering process of another state-run bank, Halkbank, he implied that funding for privatizations was not easy, as the director-general of the lender had to tour various
countries in order to make the privatizations happen. The minister also said the government
had prepared a code for the establishment of the Arbitration Center to focus mainly on private-sector disputes.

“Before applying to the court, the private sector [should be able] to solve its disputes at an institution operated by the private sector,” he said.

Babacan also scuttled speculation that Turkey’s Central Bank and Bourse Istanbul headquarters would move to the new Istanbul Financial Center to be built on the Anatolian side of the city. “We don’t know what will happen in five or 10 years, but their current locations are already good,” he said.

Last week, the Central Bank announced it had completed the purchase of land in the Anatolian-side district of Ataşehir at the Istanbul Financial Center, raising speculation about a possible move, but Babacan said only the lender’s Istanbul offices would move to the new location. 

Tuesday, December 4, 2012

American Arbitration Association Launches Online ADR Tool, ClauseBuilder

The American Arbitration Association (AAA) is set to launch ClauseBuilder Tuesday, a new online tool that will facilitate the creation of arbitration and mediation agreements. It is the first such tool to be offered by an alternative dispute resolution services provider. 

Although web-based tools for drafting contracts were already abundant, AAA general counsel Eric Tuchmann told CorpCounsel.com that up until now, “there was nothing for alternative dispute resolution.”

Since 1926, the AAA has provided services to individuals and organizations seeking to resolve conflicts out of court. The not-for-profit association also educates the public about alternative dispute resolution and develops ADR systems for corporations, unions, government agencies, law firms, and courts. 

The AAA’s first version of ClauseBuilder will address arbitration and mediation clauses specifically designed for commercial arbitration contracts. Tuchmann says that “those types of agreements represent the largest category of cases where we see interest and demand for alternative dispute resolution services.” 

Subsequent versions of the tool will be released throughout 2013. The AAA has versions in development that are tailored to construction, international, and employment contracts.

Users start with the association’s standard clause:

Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

That language is “time-tested and court-tested,” says Tuchmann. 

From the foundation of that standard clause, users can opt for mediation, arbitration, or both, and then pick and choose from a list of add-on options to customize the clause to meet their specific needs. “There are a lot of components,” says Tuchmann, and the list includes choices of governing law, locale provisions, duration of proceedings, and several options for controlling arbitrator selection and qualifications.

When choosing the number of arbitrators, for example, users can decide between leaving the clause silent regarding number, having their claim heard by a single arbitrator or a panel, or making the selection dependent on the claim amount.

Arbitrator selection is a top concern when drafting any ADR clause, Tuchmann says, and the ClauseBuilder tool takes that into account. “Parties want to be able to control who the decision-maker is,” says Tuchmann.

At any point in drafting their clause, users can skip to the end of the process. Their document can be downloaded and printed, without having to create a user account. (If users want to revisit the site and rework a clause that was previously created, they can open an AAA account to store their documents.)

Tuchmann has been with the AAA for more than 16 years, during which time he has seen interest in ADR increase dramatically. Parties are attracted to its speed of resolution and low cost, compared to traditional litigation. Courtroom rules of evidence are not strictly applicable in arbitration, and parties have input when it comes to selecting a decision maker with expertise in a particular claim area. 

In recent years, it has become the exception for a law school not to offer courses in ADR, according to Tuchmann. “The way that lawyers are thinking about disputes is just much more sophisticated now,” he says. “We see a great future for the tool and for the entire field.” 

Will ClauseBuilder eliminate in-house lawyers’ need for having outside lawyers draw up mediation and arbitration agreements?

Tuchmann says that there will still be times when parties have a very particular type of transaction that will require outside counsel services. But he says that in-house counsel can use ClauseBuilder to draft most arbitration agreements themselves. They have already been drafting their own clauses in many instances, says Tuchmann, and “the purpose of this tool is to make it easier.”

Source: law.com

Russian oligarchs' Norilsk arbitration postponed until February

MOSCOW, December 4 - RAPSI. Arbitration to resolve the dispute between Russian oligarchs Vladimir Potanin and Oleg Deripaska in connection with suspected violations of the Norilsk Nickel shareholders' agreement has been postponed until mid-February, according to a Kommersant report.

The newspaper reported that the parties have already drafted a document meant to settle the conflict but it has not been signed yet.

The London Court of International Arbitration (LCIA) has postponed the hearings for the claim Oleg Deripaska's Rusal filed against Vladimir Potanin's Interros until mid-February.

Rusal owner Oleg Deripaska owns a 25% stake in Norilsk Nickel, and Potanin's Interros controls 28%. The two have long been grappling for control of the nickel giant. Rusal claims that the Norilsk board has been dominated by Interros loyalists since Rusal lost a board seat in a 2010 reshuffling.

In October 2012, talks resumed on the terms of a new shareholder agreement, the key elements of which were the level of Norilsk Nickel's dividends, the settlement of mutual financial claims and the post of Norilsk Nickel's head, currently held by Vladimir Strzhalkovsky.

According to the preliminary arrangements, Vladimir Potanin should head the company, while Roman Abramovich would purchase seven-ten percent of shares in Norilsk Nickel.

The Kommersant source said that everything dealing with Roman Abramovich's stake has been removed from the amicable agreement.

The source added that Potanin has signed the agreement but that there was no information as to whether Deripaska had signed it.

Rusal and Interros refused to comment.

Russian President Vladimir Putin has publicly expressed hope on at least two occasions that Norilsk's majority shareholders would quickly arrive at a suitable agreement. In August 2010 he stated, "I do not care which of the shareholders owns a controlling stake, or in what ratio. What matters is that they solve the company's problems."

Norilsk Nickel is a diversified ore mining and smelting company, and the world's leading nickel and palladium producer. It operates industrial facilities in the Norilsk industrial region and on the Kola Peninsula in Russia, Finland, the United States, Australia, Botswana and South Africa.

According to its website, Interros is one of Russia's largest private companies, delving into the following areas: metals and mining, entertainment media, property and tourism, and transport and logistics. As of early 2012, its assets were valued at about $15 billion.

Source: http://rapsinews.com/judicial_news/20121204/265638757.html

Friday, November 30, 2012

Leveson moots arbitration service for resolving claims against the press

Lord Justice Leveson today said a low-cost arbitration service should be established to help newspapers and magazines resolve legal claims.

Publishing his long-awaited report into the culture, practice and ethics of the press, Leveson LJ proposed that a statutory body such as Ofcom should take responsibility for monitoring an overhauled Press Complaints Commission.

Lord Justice Leveson
Lord Justice Leveson
Such a body would provide a dispute resolution service and those that do not sign up to the new form of independent regulation of the press would leave themselves open to claims for exemplary damages in civil claims. Publishers would also lose the ability to claim back their own costs in libel and privacy cases, even if they won, if they did not sign up.

Leveson LJ said: “I believe these proposals in relation to costs should provide a powerful incentive for all publishers to want to be part of such a self-regulatory system.”

In his 2,000-page report Leveson LJ said the press must create a new and tough regulator, but it had to be backed by legislation to ensure it was effective.

“The press has to be accountable to the public in whose interests it claims to be acting and must show respect for the rights of others,” he said.

“It should not be acceptable that it uses its voice, power, and authority to undermine the ability of society to require that regulation is not a free for all, to be ignored with impunity.

“The answer to the question who guards the guardians, should not be ‘no one’.”

Excerpts from the report:

- “An independent regulatory body should be established, with the dual roles of promoting high standards of journalism and protecting the rights of individuals. That body should set standards, both through a code and in relation to governance and compliance.”

- “The body should: hear individual complaints against its members about breach of its standards and order appropriate redress while encouraging individual newspapers to embrace a more rigorous process for dealing with complaints internally; take an active role in promoting high standards, including having the power to investigate serious or systemic breaches and impose appropriate sanctions; and provide a fair, quick and inexpensive arbitration service to deal with any civil law claims based upon its members’ publications.”

- “…the provision of an arbitration service that is recognised and could be taken into account by the courts as an essential component of the system, not (as suggested by Lord Black) simply something that could be added at a later date. The service could be administered comparatively easily within the regulator and be staffed by retired judges or senior lawyers with specialist knowledge of media law whose fee would be met by the publisher but who would resolve disputes on an inquisitorial model, striking out unmeritorious claims and quickly resolving the others.”

- “If, by declining to be a part of a regulatory system, a publisher has deprived a claimant of access to a quick, fair, low cost arbitration of the type I have proposed, the Civil Procedure Rules (governing civil litigation) could permit the court to deprive that publisher of its costs of litigation in privacy, defamation and other media cases, even if it had been successful.”

- “The board should publish an annual report identifying, amongst other things “information about the extent to which the arbitration service had been used.”

The lawyers respond:


Withers partner Amber Melville-Brown

Journalism has to be plied professionally if the press is to take its proper place as watchdog and bloodhound of society, rooting out and alerting us to evil. And Lord Justice Leveson has also acknowledged the need for the press to be able to inform, educate and entertain, and in doing so to be “irreverent, unruly and opinionated”.
Amber Melville-Brown
Amber Melville-Brown

The PCC had failed, he said, in keeping the press to its responsibility to the public. And therefore there was a need for real independent, statue backed, self-regulation. If such regulation is not truly independent of industry leaders, government and politicians, it would not have the confidence of the public and would effectively be ‘the industry marking its own homework’.

But the report raises various questions. What might happen if the media as a whole, doesn’t agree to buy in to the scheme? And how will a two tier approach, with on the one hand a form of arbitration under the new proposed regulator and the traditional ambit of the courts on the other, play out.

There was cross- party support for a new Defamation Act favouring publishers and the result of a vociferous campaign by defamation law detractors , anticipated in 2013. Whether government - to whom the ball has now been firmly passed by Leveson - will show support for the essential regulation he asserts is required, or whether he will bow under the pressure of powerful, publishing scaremongers and ignore or delay Leveson’s recommendations, remains to be seen.

Eversheds associate Andrew Terry

Lord Justice Leveson described the Leveson Inquiry today as the “most concentrated look at the press this country has ever seen”. It will take time to study the detail but it appears to offer the press one last shot at a form of self-regulation with voluntary membership, in theory at least. It is proposed to be underpinned by statute but Leveson LJ is clear that this is independent regulation organised by the press.

Andrew Terry
Andrew Terry
Crucially, and perhaps surprisingly, Leveson LJ proposes a voluntary scheme with incentives in place in order that newspapers sign up. These incentives include an arbitration service to deal with disputes in a quick and low cost way, with additional damages being awarded in successful litigation brought against those who do not subscribe to the regulatory body. The detail will need to be scrutinised to understand whether or not Leveson LJ has done enough to address the ‘Desmond Problem, that is, are these proposals really strong enough to guarantee that all major news publishers participate meaningfully in the new regime in the long term?




5RB barrister David Sherborne, counsel to the core participant victims (CPVs) at Leveson

Together with my clients, we have had the opportunity to read what we can of the report in the time available earlier this morning. It is on any view a weighty and impressive document, especially as it has been produced within the tight timeframe that Lord Justice Leveson set himself at the outset.

David Sherborne
David Sherborne
While I am sure that many individual CPVs will be giving their own reaction, the consensus is that we welcome the contents of the report and in particular both the findings it contains and the recommendations which are proposed. The Hunt/Black proposal, which has been supported by the majority of the print media, has been demonstrated to be utterly unworkable and should be consigned to a footnote in the history of press regulation, which is where it belongs.

In the face of the compelling and often disturbing evidence that my clients gave to the inquiry about their experiences at the hands of the press, the need for a strong independent regulator is frankly unarguable and Lord Justice Leveson has recommended exactly that. It only remains now for elected politicians to keep their promises and to put aside their personal relationships with newspaper proprietors and editors. The whole reason why the Government appointed such a senior judge to conduct a public inquiry into press standards was because politicians had been compromised, as module 3 so graphically demonstrated.

Schillings partner Chris Scott

We called for Lord Justice Leveson to think big and broadly at how reputation and privacy disputes can be resolved quickly and more effectively. Providing incentives to the press rather than threats is a sensible approach to underpinning effective self-regulation and encouraging participation. 

Chris Scott
                    Chris Scott
Changing the way the costs of legal proceedings are dealt with is an ambitious move in the right direction. Looking at replacing the Press Complaints Commission in isolation while reform of libel and its costs are debated risked missing an opportunity. By drawing the issues together Leveson LJ creates a possibility of creating genuine improvement not only to the position of those who find themselves complaining to the press, but also to meet press concerns about the impact of legal disputes.

The hard part now is the detail to achieve demonstrable independence sufficient to have the confidence of the public and press. This not easy to achieve and guaranteeing that independence through ‘statutory verification’ both now and in the future will take serious reflection to get to a result that will stand the test of time.



Mark Stephens
Mark Stephens
Finers Stephens Innocent partner Mark Stephens

How does Lord Justice Leveson’s suggestion of fines up to £1m square with the cap on damages to avoid the chilling of free speech? It seems that he has forgotten the Elton John decision in the European Court of Human Rights.

We have a cap on libel and privacy damages of £230,000 so as to avoid fines having a chilling effect on free speech. This is clearly yet another area that the Prime Minister will need to look at more carefully.





Carter-Ruck partner Isabel Martorell

Isabel Martorell
Isabel Martorell
Lord Justice Leveson was right in a number of important respects. First, to recognise the significant failings in the culture, ethics and standards of the press and the overwhelming arguments for a strong independent regulator. While a majority of the British press do uphold and adhere to proper journalistic standards, the actions of a significant minority have demonstrated time and again that self-regulation does not work.

 As such, without the statutory underpinning that the Leveson Report recommends, any proposals for reform were likely to lack credibility in the eyes of victims of egregious press conduct.  Crucial also from the victims’ point of view were perhaps two things in particular: that any regulatory body is truly independent from the press, and also that it has real ‘bite’ - a power to take effective enforcement action against transgressors, which the PCC conspicuously lacked.

 Leveson LJ addressed the question of independence by making clear that a new regulator must not include any serving editors and must also comprise a majority of people who are entirely independent of the press.  In terms of the efficacy of the sanctions regime proposed - which includes financial sanctions of up to 1 per cent of turnover with a maximum of £1m - this will depend almost entirely on the new regulator’s willingness actually to employ these powers.

Guardian News & Media legal director Gill Phillips

The report is damning about the widespread failings in the culture, ethics and standards of the press and recognises the devastating consequences this has had for the victims. It finds the relationship between the press and politicians got far too cosy. The police seem to have got off quite lightly.

Gill Phillips
Gill Phillips
The report does seem to tar some sections of the press - for example the regional press - with the failings of the few. It concludes, again no surprises here, that the PCC has failed and that a new body is needed.

There appears to be a large degree of consensus around the independent self-regulatory aspects of the report’s recommendations, less so about the statutory verification process the report suggests should be operated by Ofcom.

Is this crossing the Rubicon, as the Prime Minster suggests? Is Ofcom the right body to do this?  To what extent will it go beyond verification so as to involve monitoring?

What’s good about the independent self-regulatory system is that it is entirely voluntary. It relies on incentives, for example it recommends constructing a costs regime in relation to privacy and libel cases that would make membership of a voluntary system a significant benefit for any publisher.

There is little suggestion of substantive changes to the law other than the statutory verification process and two recommendations that appear, at first blush at least, to be seriously worrying, namely recommendations to narrow the journalistic exemptions under the Police and Criminal Evidence Act and the Data Protection Act. These will need careful consideration as to their implications.

Michael Simkins partner Gideon Benaim

The Leveson Report has finally been published and the scope of its recommendations are beginning to sink in, although it’s fair to say it will take a bit of time to read the four inch-think volumes.

Gideon Benaim
Gideon Benaim
What an historic opportunity we have here. Politicians, now is your time to act by supporting and implementing what are extremely generous proposals. It could have been so much tougher. It’s not the time to behave cowardly, so it was really good to see Miliband and Clegg showing they have integrity. The public are behind reform - all the polls show it - but the Prime Minister is already backing down. That is extremely bad form.

Independent self-regulation organised by the press with statutory underpinning as recommended by Lord Justice Leveson should be an easy pill for the press to swallow. It’s a much lighter touch than it could have been.

If the press fails to set up, support or sign up to the new independent self-regulator it could face statutory regulation, so I expect it will do its utmost to make it work, at least cosmetically, and give the politicians a get out.

All in all I believe that Leveson has done the best he believed he could, but his recommendations require politicians to stay on track, and the Prime Minister is already backing down.


Mishcon de Reya partner Charlotte Harris

The Leveson Inquiry has dominated the press over the past 18 months, and the report has been eagerly anticipated by the media and the public alike. Lord Justice Leveson’s report is incredibly thorough and is, I believe, vital to restoring public confidence in print media. The report roundly asserts the current system is not good enough, and at Mishcon de Reya we welcome the recommendation of an independent self-regulatory body governed by an independent board. We likewise welcome the categorical statement that neither government nor parliament should be involved in regulating the press.
Charlotte Harris
Charlotte Harris

However, the report also provokes pressing questions. The recommendations must be backed up in statute, but will this be by tinkering with existing legislation or creating new legislation? The absence of a draft bill or draft code are both notable - even more so is the lack of a statutory timetable. 

Leveson LJ made it clear the ball is now in the politicians’ court. For the inquiry to serve its purpose, addressing the culture, practices and ethics of the press and protecting individuals as well as free speech, it must not be kicked in the long grass.

Source: TheLawyer

Tuesday, November 20, 2012

Argentina and Spain met after the expropriation of the 51% of YPF

Spain, November 17, 2012

Today, the Foreign Minister Héctor Timerman met with his Spanish

counterpart Jose Manuel Garcia-Margallo in Cadiz. This is the first official meeting since the conflict triggered by the nationalization of 51% of YPF. The meeting took place in the framework of the Summit of Cadiz.

For his part, the president was absent from the summit due to health problems, so Argentina was represented by Vice President Amado Boudou and the foreign minister.

Last week Garcia-Margallo said that “there is room” to find a “negotiated solution” to the conflict.

On the other hand, he said “we do not dispute the right of Argentina to nationalize a strategic sector”. However considered that “it must be done through a regulated procedure and paying a fair price.”

It may be recalled that the government of Mariano Rajoy waits for a resolution of the Investment Committee of the OECD which is stipulated for December. The case is also being tried in the World Trade Organization (WTO) and the World Bank agency called the International Centre for Settlement of Investment Disputes (ICSID).

Source: m24digital

Monday, November 19, 2012

Spain's Repsol hopeful of YPF compensation

Spanish oil major Repsol hopes to reach an agreement with Argentina on compensation for the nationalisation of Repsol's YPF subsidiary, the company's chairman said in an interview published on Sunday.

Argentinean President Cristina Fernandez seized control of YPF in April, accusing Repsol of investing too little and making the Latin American country overly reliant on expensive imports.

"I still believe and hope that we can reach an agreement over YPF," Repsol Chairman Antonio Brufau said in an interview with El Pais newspaper. "I hope we can reach an agreement to compensate us for that which belonged to us."

Repsol sued Argentina in May through a U.S. court as part of an effort to recover more than $10 billion from the country in a case that could drag on for years.

Brufau said the company would seek arbitration at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). Six months must pass before ICSID will consider arbitration in any dispute, to allow negotiations between the two parties.

Those six months have now expired and it's up to Repsol to request arbitration in a process that experts say could take more than a year.

"We will go to the ICSID when we see best, but we can withdraw the request if agreement is reached," he said.

The comments echoed sentiments expressed by Spain's Foreign Minister Jose Maria Garcia Margallo on Thursday, when he said that he hoped to reach a solution soon.

"There are conversations between the Argentinean and Spanish governments about the matter every single day," he said on Spanish television.

The newspaper interview came as the Ibero-American Summit, an event attended by leaders from Portugal, Spain and Latin American countries, ended in Cadiz, southern Spain.

Argentinean President Fernandez did not attend the event, sending her vice-president in her place.


(Reporting By Sonya Dowsett and Carlos Ruano; Editing by David Goodman)


Source: Reuters

Saturday, November 17, 2012

BP Alaska to pay $255M


Arbitrators award state damages for production shortfalls following 2006 spills
 
Two leaks from major oil pipelines in the giant Prudhoe Bay field in 2006 ignited big trouble for operator BP Exploration (Alaska) Inc.

The leaks caused a partial field shutdown that rattled world oil markets, and drew scrutiny from federal regulators and members of Congress who criticized the company’s upkeep of pipelines infested with corrosion.

BPXA ultimately was placed on probation for three years and fined $20 million after pleading guilty to a federal pollution misdemeanor.

But that wasn’t the end of it. The state filed an aggressive civil suit against BPXA in 2009, seeking to recover back taxes, royalties and other damages for the leaks and the production shortfalls resulting from shut-ins and extensive pipeline repairs.

At the time the suit was filed, a state lawyer said the damages could exceed $1 billion.
The state won’t collect that much. But it has succeeded in winning a very substantial sum, more than $255 million.

$8.09 per barrel

Most of the state’s winnings are the result of a recent binding arbitration proceeding.

A three-member panel of arbitrators on Oct. 31 awarded the state $245,410,959 for the loss or deferral of oil and natural gas liquids, or NGLs, from the Prudhoe Bay unit and the related Greater Point McIntyre area.

BPXA also will pay the state $10 million to settle civil assessments for the spills, the Alaska attorney general’s office said.

The two sides agreed to submit the sole issue of the state’s royalty claims to arbitration. Previously, lawyers for BPXA had made substantial headway in reducing the company’s liability in the case, winning dismissal of the state’s claim for back taxes.

The arbitrators were Mark Kantor, of Washington, D.C.; Thomas W. Reavley, of Austin, Texas; and tribunal chair Thomas J. Brewer, of Seattle.

In their ruling, the arbitrators found that the state did indeed sustain royalty damages. And they rejected BPXA’s argument that the state hadn’t suffered any harm because the lost or deferred production was quickly made up.

The arbitrators put the state’s royalty loss at 30,344,971 barrels of oil and NGLs, and said the production won’t be recovered until the end of field life.

The panel then calculated the state’s damages award, including interest, at $245,410,959.
That translates to about $8.09 per barrel.

BPXA has partners in Prudhoe Bay and Point McIntyre, the main ones being ConocoPhillips and ExxonMobil.

Company spokeswoman Dawn Patience on Nov. 8 issued this statement on the arbitration outcome:

“We are pleased to finally resolve the last remaining claim from the 2006 Prudhoe Bay spill. Our share of the judgment is approximately $66 million. With this behind us we can now move forward, operating North America’s largest oil field in a safe, reliable and compliant manner to the benefit of Alaska and the rest of the United States.”

‘Rebound’ argument rejected

The arbitrators held a hearing between May 22 and June 26 in Anchorage on the royalty dispute. The hearing was closed to the public.


Their 35-page ruling is fascinating and very clearly written, but quite technical in places, particularly in the discussion of how the state’s damages were calculated with respect to oil and NGLs that might not be produced for decades.

Fundamentally, as owner of the land on which the Prudhoe Bay field is located, the state is entitled to receive 12.5 percent of the volume, or value, of the oil and gas produced. That’s the state’s royalty.

A major point of contention for the numerous lawyers and experts participating in the arbitration was whether the production shortfalls experienced after the pipeline leaks were later made up.

BPXA argued “there was a relatively quick rebound in production, in a higher‐price environment,” with the net result being that the state wasn’t injured, the arbitration ruling says.

“BPXA coined the term rebound in this case as a shorthand way of referring to various well and reservoir phenomena that can cause a well or wells to produce at a higher rate after a period of being rested or ‘shut‐in,’” the arbitrators wrote.

But the tribunal ultimately found BPXA’s rebound argument “unpersuasive.”

Field performance did improve in the years following the pipeline spills, with a “noticeable lessening” of the decline rate in oil production, but it wasn’t due to rebound, the arbitrators wrote. Rather, most of the production enhancements in the 2006-2010 timeframe stemmed from “a substantial increase in capital expenditures” for work such as drilling and well workovers.

Such activities to promote field production and arrest natural decline are the normal duty of a prudent field operator, the arbitrators said.

The arbitrators also determined on the evidence that Prudhoe Bay oil production was, and is, constrained by the field’s gas-handling facilities. A great deal of gas emerges from wells mixed with the crude.

Because of the gas-handling limitations, the production deferrals experienced in the wake of the 2006 leaks “could not be, and were not, recovered simply by running the field at a greater capacity later,” the arbitrators said.

Although the state raised the possibility that “some or all of the oil in question will never be recovered,” the arbitrators found a lack of evidence to support that.

Source:http://www.petroleumnews.com/pntruncate/10808996.shtml

Stockholm International Hearing Centre



This week sees the opening of Stockholm International Hearing Centre (SIHC).
SIHC will offer tailor-made services for arbitral tribunals and cater for all needs and requirements in connection with the setting up of arbitration hearings. 

Annette Magnusson, SCC Secretary General, welcomes the opening of SIHC: 
“The Stockholm International Hearing Centre (SIHC) represents an important addition to the infrastructure of arbitration in Stockholm. Stockholm has long been a leading place for international arbitration, and the demand for hearing venues and supporting services is increasing. We therefore welcome this initiative.” 

For further information please conctact Erica Thool erica@sihc.se


Fonte: http://www.sccinstitute.com/?id=23696&newsid=44560

Apple And Google Discuss Potential Arbitration Over Some Patents

SAN FRANCISCO--Apple Inc. (AAPL) and Google Inc. (GOOG) swapped a series of letters earlier this month discussing potential arbitration for some patents, according to a recent court filing.

The letter exchange between the two tech titans followed a discussion in court, during which lawyers for Google offered to arbitrate some patents. Apple responded with a letter dated Nov. 8, in which Bruce Sewell, the company's general counsel, said the offer was welcomed and suggested that guidelines for any agreement include a stand down in litigation and world-wide coverage.

The patents up for potential arbitration, according to the letters, would be those that describe technologies used as part of accepted standards, such as ones for wireless technology. In order to be included in a technology standard, companies agree to license their patents in a fair, reasonable and non-discriminatory way.

In a response letter dated Nov. 13, Google said it would prefer to seek a framework to settle all patent litigation, not just suits based upon specific technology patents.

"We have long sought a path to resolving patent issues," Kent Walker, Google's general counsel, wrote in the letter. Google also recommended that any settlement not include Germany, which has been a flashpoint in the global smartphone patent battles.

Both the European Union and the U.S. have investigated Google over concerns it violated antitrust laws in its litigation efforts and in private negotiations. Apple, for its part, also has complained that both Google and its partner, Samsung Electronics Co. (005930.SE, SSNHY), have overreached in their efforts to extract royalties for standards-essential patents.

Representatives from Apple and Google declined to comment. The letters were disclosed in a filing Thursday in a Wisconsin court.

The filing comes a week after the iPhone maker publicly disclosed an agreement with HTC Corp. (HTCXF, 2498.TW), which included a 10-year pact that settled all lawsuits between the companies. Though the companies didn't disclose the terms of their agreement, a person familiar with the matter later said HTC would pay licensing fees to Apple.

The settlement efforts come after Apple attempted similar talks with Samsung ahead of and during a high-profile patent trial in a San Jose court. A jury eventually awarded Apple$1 billion in damages, a decision Samsung said it would appeal.

Apple has attempted settlement talks with Google's Motorola unit in the past as well, at one point offering between $5 and $15 per handset license for some of its patents in one negotiation with Motorola, or roughly 1% to 2.5% of net sales per device, a person familiar with the matter said earlier this year. Motorola has been criticized for asking a maximum of 2.25% of net sales per device for its patents, a practice Google said in a letter to standards groups earlier this year it would uphold.

Motorola, for its part, recently dropped its latest complaint against Apple at the U.S. International Trade Commission. 

Source: Nasdaq