The following is a round-up of recent and anticipated developments in global arbitration.
Paris Arbitration Rules Launched
On April 15, 2013, at the annual conference, the Home of International Arbitration in Paris launched newly drafted Paris Arbitration Rules (the “Rules”). The Rules consist of 12 articles, which will aim to provide tribunals with broad discretion in relation to case management and procedural issues in order to provide both flexibility and efficiency. Further, the Rules set out a unique mechanism for ad hoc arbitration.
Singapore International Arbitration Centre (“SIAC”) Opens Its First Overseas Office in Mumbai
SIAC has opened its first international office in Mumbai. The office is intended to market Singapore as the ideal place to resolve disputes involving Indian parties.
SIAC has also said it plans to open similar offices in Seoul and the Middle East.
Istanbul Arbitration Center To Be Established
In late April 2013, Justice Minister Sadullah Ergin confirmed that a bill that will establish an arbitration center in Istanbul has been prepared and will be referred to the Parliament shortly. The bill, which has already been provided to the Office of the Prime Ministry, sets out the foundation for an autonomous independent arbitration center that will have the capacity to compete in the international arena.
2013 HKIAC Administered Arbitration Rules Released
The Hong Kong International Arbitration Centre (“HKIAC”) has published the 2013 revisions to the HKIAC Administered Arbitration Rules that will come into force on November 1, 2013. HKIAC has introduced significant changes aimed at creating greater efficiency. In actuality, many of the changes clarify, but do not modify, the substance of HKIAC administered arbitration.
Myanmar Accedes to the New York Convention
On March 6, 2013, the Myanmar Parliament approved plans to sign the New York Convention on the Recognition and Enforcement of Foreign Arbitral awards (the “Convention”).
While the Secretary-General has not yet issued a formal depositary notification containing Myanmar’s terms of accession, it is thought that the Convention will come into force in Myanmar on July 15, 2013.
Amendments to Russian Arbitration Law Allows for Emergency Interim Measures
The lower chamber of Russian parliament passed amendments to the Russian international commercial arbitration law in January 2012. These amendments provide arbitrators with the ability to grant emergency interim measures for both foreign and domestic arbitrations.
The amendments will come into force after the upper chamber of the Russian Parliament passes a second reading, though this has not yet been scheduled.
New IBA Guidelines on Party Representation in International Arbitration
At its session of May 25, 2013, the IBA council approved the IBA Guidelines on Party Representation in International Arbitration (the “Guidelines”). The IBA’s Arbitration Committee and its task force on Counsel Conduct consider that the new Guidelines will aid in the preservation of integrity and fairness of arbitration by leveling the playing field and increasing the transparency and predictability of arbitral proceedings.
The new Guidelines are not intended to replace otherwise applicable mandatory laws. Instead they are meant to address questions relating to the conduct of arbitral proceedings, including but not limited to expert evidence, confidentiality, factual and expert witness preparation and potential remedies available for misconduct.