Arbitration World Wel lc co om me e t to o t th he e 4 - PDF document

www.klgates.com SUMMER 2007 K&L G Ga at te es s’ ’ Arb A bi it tr ra at ti io on n W Wo or rl ld d Arb bi it tr ra at ti io on n W Wo or rl ld d Arbitration World Wel lc co om me e t to o t th he e 4 4t th h E Ed di it ti io on n o of f Contents K K& &L L G Ga at te es s’ ’ A Ar rb bi it tr ra at ti io on n W Wo or rl ld d Recent arbitration developments 2 from around the world Revised Arbitration Code for NASD 4 Welcome to the Fourth Edition of We review the recently revised code for Securities Arbitrations "Arbitration World", a publication from NASD Securities Arbitrations and Resolving domain name disputes 6 K&L Gates' Arbitration Group which developments in resolution of domain the Asian way aims to highlight significant name disputes in Asia. developments and issues in Guidelines published on interviewing 8 international arbitration that matter to Getting dispute resolution clauses right arbitrators executives and in-house counsel with is always important. We look at why U.S. discovery for non-U.S. arbitration 9 responsibility for dispute resolution. this is particularly the case for directors proceedings and officers’ liability insurance. In this edition we look back at the Venezuela and Bolivia throw a challenge 9 firm's third annual London We report on a recent case which may to ICSID International Arbitration Seminar at the sound the death knell for the English K&L Gates’ International Arbitration Day 10 Mandarin Oriental Hotel in Court's practice of granting anti-suit London, 19 April 2007 Knightsbridge in April and look forward injunctions where proceedings have to hosting a similar event in San been commenced in breach of an The new rules of the Arbitration Institute 12 Francisco on 4-5 October 2007 (details arbitration clause in another E.U. of the Stockholm Chamber of Commerce in the Forthcoming Events section on Member State. Sports arbitration - take the public out 14 the back page). of the game We also include our usual round-up of We are pleased to include a guest recent developments in international Directors and officers’ liability insurance - 16 .. contribution from Petter Tornquist of arbitration from around the world. the importance of the dispute resolution clause Setterwalls, the leading Swedish law The anti-suit injunction - on borrowed 18 firm, on the new rules of the Arbitration To supply feedback time? Institute of the Stockholm Chamber of onanyfeatureinthispublicationplease Commerce. Forthcoming events 20 contacttheeditors,PeterMorton (peter.morton@klgates.com)or IanMeredith Who to contact 20 We look at the reasons behind the (ian.meredith@klgates.com)inLondon, Jack growth in arbitration in sport, by Boos(jack.boos@klgates.com)inSan reference to some recent examples in FranciscoorJoanneDiakos (joanne.diakos@klgates.com)inNewYork. the U.S.

Arbitration World Recent Arbitration Developments from Around the World Europe under other rules, such as the UNCITRAL Rules, as well as De D en nm ma ar rk k providing the option of KCAB Rules. As reported in the Summer 2006 issue g K of Arbitration World, Denmark H Ho on ng Ko on ng g introduced a new Arbitration Act in Michael J. Moser has been elected as 2005. To complement this new the new Chairman of the Hong Kong legislation, and ensure quality and International Arbitration Centre integrity of arbitration proceedings in (HKIAC), with effect from 1 March Denmark, the Danish Arbitration 2007. Mr Moser was the first foreigner Institute is to be separated from the to be appointed as an arbitrator in Construction Arbitration Board, which mainland China and is fluent in is currently responsible for the Mandarin Chinese. Mr Moser is also administration of the Institute. The the vice chair of the IBA Committee on Institute is in the process of setting up Arbitration. its own secretariat and producing an Australia/Oceania internal book of guidelines. l I S Se er rb bi ia a M Mar rs sh ha al ll Is sl la an nd ds s Serbia has ratified the convention on The New York Convention on the the settlement of Investment Disputes. Recognition and Enforcement of It came into force on 8 June 2007. Foreign Arbitral Awards came into force in the Marshall Islands in March 2007. Sw S we ed de en n Chairman of SIAC, the tribunal will be The Stockholm Chamber of Commerce required to submit its award in draft to has revised its rules, with the new rules SIAC to be reviewed before being coming into effect at the start of this issued, and a memorandum of issues year. See the special report authored by defining the issues to be decided in the Setterwalls, Sweden, on page 12 for award must be drawn up by the more details. tribunal. Asia Ko K or re ea a The Korean Commercial Arbitration Si S in ng ga ap po or re e Board (KCAB) has brought in changes The Singapore International Arbitration to its International Arbitration Rules, Centre (SIAC) introduces an updated effective for arbitrations started after 1 set of arbitration rules with effect from February 2007. Proceedings started July 2007. The changes include that an before then can be subject to the new arbitrator is not deemed to be Rules, if all parties agree. The KCAB appointed until confirmed by the administers arbitrations conducted 2 SUMMER 2007 Continued on page 4

www.klgates.com Latin America North America / Caribbean E Ec cu ua ado or r The Centre for Arbitration of the Ca C an na ad da a Guayaquil Chamber of Commerce in Canada has signed up to the Ecuador introduced new rules at the Convention on the Settlement of beginning of this year. The new rules Investment Disputes between States follow the ICC in imposing a and Nationals of Other States (the requirement on Arbitral Tribunals to ICSID Convention). The Convention produce a Terms of Reference cannot be ratified until all thirteen of document at the start of the arbitration. Canada's provinces and territories have The rules also require Arbitral brought in the necessary implementing Tribunals to expressly rule on their legislation. So far, five jurisdictions jurisdiction at the outset of the have done so (British Columbia, arbitration (for which the parties have Ontario, Newfoundland and Labrador, an opportunity to make Saskatchewan and Nunavut). representations) and the Tribunal cannot overrule this decision in its final B Ba ah ha am ma as s award. Ecuador is a signatory to the The New York Convention on the New Convention on the Recognition Recognition and Enforcement of and Enforcement of Foreign Arbitral Foreign Arbitral Awards came into force Awards. in the Bahamas in March 2007. Africa Ar A rg ge en nt ti in na a Ga G ab bo on n An ICSID Tribunal has delivered a further blow to Argentina finding in The New York Convention on the favour of claimant Enron and awarding Recognition and Enforcement of damages of U.S. $106 million. The case Foreign Arbitral Awards came into force is another flowing from the economic in Gabon in March 2007, bringing the Middle East crisis of the late 1990’s. total number of Convention signatories to 142. Bo B ol li iv vi ia a Du D ubai i Eg E gy yp pt t The Government of Bolivia has The new Dubai International signalled its intention to withdraw from The Cairo Regional Centre for Arbitration Centre (DIAC) Rules came the ICSID Convention. See article on International Commercial Arbitration is into force on 7 May 2007. The DIAC page 9. consulting on draft new arbitration Rules have been completely re-drafted rules, which closely track the to make the rules more “international.” UNCITRAL Rules, with some minor The DIAC’s aim was to produce world- modifications. leading arbitration rules, selecting the best aspects of other institutions’ arbitration rules from around the world. 3 SUMMER 2007