April 2016 – Law360 recently published an article titled “Conoco ICSID Case Highlights The Expense Of Fairness” as the resignation of the tribunal president in the long-running ConocoPhillips arbitration against Venezuela sparks renewed concerned regarding potential time and efficiency costs that sometimes plague international arbitrations.
Chaffetz Lindsey partner Aníbal Sabater was quoted in the article as saying, “As arbitration users keep repeating, time and cost efficiency is a must in international arbitration. Conoco v. Venezuela is a sad reminder that this goal is not always achieved. A most immediate difficulty, and a first in a case of this complexity and repercussion, is that the award on liability has now to be supplemented with a decision on damages issued by a tribunal where at least two of the arbitrators were not involved in the liability phase.”
“Ultimately,” he said, “it’s up to the arbitration community as a whole to support ICSID and help it introduce changes in its procedures to avoid situations like the Venezuela-Conoco case in the future. Like other major institutions around the world, ICSID should be more clearly empowered to decisively address delays, deal with dysfunctional tribunals and have the last word on whether an arbitrator’s resignation is accepted.”
Aníbal acts regularly in investment arbitration matters, and is presently representing clients in various proceedings under investment treaties. He is an international arbitration specialist with over 18 years of experience, representing clients from around the world and industries as diverse as construction, energy, mining, shipping, technology, and telecommunications, in arbitrations under all major international arbitration rules, including AAA/ICDR, ICC, LCIA, and UNCITRAL. He has also acted in several investment arbitration cases under the UNCITRAL Rules and the ICSID Convention/Rules, as well as in commercial disputes involving states and state-owned entities. Licensed in several US jurisdictions, England and Wales (solicitor), and Spain, Aníbal has represented clients in disputes governed by the laws of more than 20 nations across Latin America, North America, Europe, North Africa, and the Middle East.
To read the Law360 article in its entirety, please click here (a subscription may be required).
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