Damages in International Arbitration under Complex Long-term Contracts

Author: Herfried Wöss,Adriana San Román Rivera,Pablo Spiller,Santiago Dellepiane

Publisher: OUP Oxford

ISBN: 9780199680672

Category: Law

Page: 392

View: 5494

This is a detailed analysis of the legal and financial matters arising from the formulation of claims to the award of damages and loss of income, in the case of breach of long-term complex contracts in international arbitration. It tackles the challenges of structuring claims and awarding damages, with focused examination of the but-for method.
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M&A Disputes and Completion Mechanisms

Author: Heiko Daniel Ziehms

Publisher: Kluwer Law International B.V.

ISBN: 9041186379

Category: Law

Page: 226

View: 6478

In the course of a merger and acquisition (M&A) transaction, the principals and their advisors face a series of decisions, often against the backdrop of an unrealistic deadline, imperfect information and a shrewd other side. In making these decisions, they have to deal with complex technical matters at the intersection of disciplines, including accounting, law, taxation, corporate finance, operations, environmental and strategy. It is not always possible during the negotiations to take a step back and contemplate issues likely to arise before or after completion that may result in a dispute or to address or mitigate risks. It is therefore easy in these highly charged circumstances to create outcomes that end up in legal disputes. A sound understanding of the completion mechanism including the basis and measurement of individual purchase price adjustments is important to negotiate good deals and avoid disputes. This book provides an in-depth discussion of the completion mechanism, including key arguments for or against individual deductions or adjustments. This can be helpful in negotiations. It also provides diagnostic tools and many recommendations that can help avoid disputes. If a dispute has occurred, it discusses how it can be resolved as well as the conceptual basis and practical approaches to the measurement of damages. The book deals with numerous matters that need to be addressed during M&A negotiations and can lead to post-M&A dissonance, including the following: - the equity bridge: from fi rm value to the purchase price for the equity; - closing conditions, the closing process and the completion accounts; - an in-depth discussion of individual purchase price adjustments from factoring to pensions and from leases to the working capital reference value; - material adverse change clauses; - aspects of locked box transactions, including the interest over the locked box period; - how to structure earn-outs to avoid disputes; - red flags for fraud; - damages valuation in M&A disputes; and - lessons learned on how to avoid or deal with disputes. The author analyses a large number of actual post-M&A disputes as a lens to bring into focus precisely where things go wrong in practice. He then sets out practical solutions to the problems dealmakers face, how to negotiate individual price adjustments, and lessons learned from disputes. This book will be useful to M&A practitioners, be they in-house counsel, private equity, sovereign wealth funds, international arbitration centres or other players, as well as the investment bankers, accountants and the professionals who advise them. It will also prove to be of great value to those who deal with post-M&A disputes – judges, arbitrators and litigators – and legal academics interested in the M&A field.
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Guide to Damages in International Arbitration

Author: John A Trenor

Publisher: Law Business Research Ltd.

ISBN: 1912377810

Category:

Page: 472

View: 2558

Have you ever been frustrated that arbitration folk aren't more numerate? The Guide to Damages in International Arbitration is a desktop reference work for those who'd like greater confidence when dealing with the numbers. This second edition builds upon last year's by updating and adding several new chapters on the function and role of damages experts, the applicable valuation approach, country risk premium, and damages in gas and electricity arbitrations.This edition covers all aspects of damages - from the legal principles applicable, to the main valuation techniques and their mechanics, to industry-specific questions, and topics such as tax and currency. It is designed to help all participants in the international arbitration community to discuss damages issues more effectively and communicate them better to tribunals, with the aim of producing better awards. The book is split into four parts: Part I - Legal Principles Applicable to the Award of Damages; Part II - Procedural Issues and the Use of Damages Experts; Part III - Approaches and Methods for the Assessment and Quantification of Damages; Part IV - Industry-Specific Damages Issues
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Arbitration in Switzerland

The Practitioner's Guide

Author: Dr. Manuel Arroyo

Publisher: Kluwer Law International B.V.

ISBN: 9041192743

Category: Law

Page: 3080

View: 3309

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Yearbook on International Investment Law and Policy 2014-2015

Author: Andrea K. Bjorklund,Full Professor L Yves Fortier Chair in International Arbitration and International Commercial Law Andrea K Bjorklund

Publisher: Oxford University Press

ISBN: 0190612053

Category:

Page: 648

View: 6129

Several themes emerge in this 2014-2015 edition of the Yearbook. The first is a notable focus on country and region-specific developments. Different articles focus on key developments in such countries as Australia, Brazil, China, Ghana, India, Indonesia, Russia, and South Africa. Others focus on regional innovations, in particular in Latin America. A second area of attention is reform, and proposals for reform, in investor-state dispute settlement and in investment law generally. The third theme is the continued concern about states' regulatory autonomy and the importance of their retaining ability to protect the interests of their nationals. A fourth theme concerns the continued contribution that investment arbitration makes to the development of international law, and the influence that it is starting to have on other areas of law, whether that is as a source of inspiration in the interpretation of other norms or as a source of potentially powerful persuasive authority given the "teeth" that investment law has with respect to enforcement. Included are the winning memorials of the FDI Moot for both 2014 and 2015. In 2014 a team from the University of Ottawa submitted the winning claimant's memorial, while students from Harvard Law School submitted the winning respondent's memorial. In 2015, Harvard repeated its stellar performance, again winning best respondent's memorial. The winning claimant's memorial in 2015 was submitted by students from the National and Kapodistrian University of Athens. These excellent memorials reveal once again the growing interest of students in international investment law and demonstrate a striving for excellence and an enthusiasm for grappling with intellectually challenging issues.
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Interim and Emergency Relief in International Arbitration - International Law Institute Series on International Law, Arbitration and Practice

Author: Diora Ziyaeva,Ian A. Laird,Borzu Sabahi,Anne Marie Whitesell

Publisher: Juris Publishing, Inc.

ISBN: 1937518701

Category:

Page: 388

View: 1847

Interim and Emergency Relief In International Arbitration is a compilation of papers authored by some of the world’s leading international arbitration practitioners. It addresses issues relating to obtaining interim measure orders, including the relevant applicable standards such as irreparable harm that various international courts and tribunals, under the ICSID, UNCITRAL, ICC, SCC, and some domestic law jurisdictions often apply. It also touches upon theoretical and practical issues involving compliance with and enforcement of interim measures in international arbitration. These issues naturally are raised in the context of an ongoing discourse where tribunals have different, at times imperfect tactics for encouraging compliance with their interim measures including drawing adverse inferences, issuing diplomatic statements against a sovereign stopping just short of ordering interim measures, splitting the sum of security for costs and allowing for reimbursement, and levying heavier damages against the non-complying party without changing the substantive aspects of the award. This book explores these methods and identifies the latest trends in this exciting area of international law. Interim and Emergency Relief In International Arbitration is intended for arbitrators, practicing attorneys, representatives of international arbitral institutions and academics, all of whom will find this book very useful. The compilation of papers and presentations in the book cover a number of jurisdictions including East Asia, the Middle East, Europe and North America.
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Vertragshaftung und responsabilité contractuelle

ein Vergleich zwischen deutschem und französischem Recht mit Blick auf das Vertragsrecht in Europa

Author: Konstanze Brieskorn

Publisher: Mohr Siebeck

ISBN: 9783161501272

Category: Law

Page: 488

View: 6295

English summary: Contractual liability is one of the most important parts of contract law and has undergone some recent reforms in the national law systems. Contractual liability is also the focus of European contract law. In this study, Konstanze Brieskorn analyzes the main issues from a comparative point of view, dealing with French, German and European contract law. In the first chapter, the author compares the different conditions necessary for claiming contractual damages within French, German and European contract law. The second chapter deals with the right to compensation following the violation of contractual obligations. German description: Das vertragliche Haftungsrecht ist Gegenstand wichtiger jungerer Reformen in den nationalen Rechtsordnungen, wie z.B. der Schuldrechtsreform in Deutschland von 2002 und der laufenden Reformbemuhungen in Frankreich auf Grundlage des Avant-Projet Catala von 2005. Auch die Vorschlage fur ein gemeinsames Europaisches Vertragsrecht, wie zuletzt der Vorentwurf eines Gemeinsamen Referenzrahmens von 2009, betreffen die vertragliche Haftung. Konstanze Brieskorn vergleicht die verschiedenen Ansatze zur Vertragshaftung im deutschen und franzosischen sowie im schweizerischen, osterreichischen und niederlandischen Recht und in den Modellen fur ein Europaisches Vertragsrecht. Sie analysiert diese Ansatze im ersten Teil des Buches anhand der Voraussetzungen und der Tatbestandsmerkmale der Vertragshaftung, im zweiten Teil behandelt sie die Rechtsfolgen und die Ausgestaltung des vertraglichen Schadensersatzanspruchs.
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Europäisches Vertragsrecht

Author: Hein Kötz

Publisher: Mohr Siebeck

ISBN: 9783161537677

Category: Law

Page: 549

View: 1692

English summary: This volume deals with the contract law of the European legal systems. What are the essential rules of these systems on the formation and validity of contracts? What rules apply to a party's right to bring a claim for performance, to terminate the contract or to claim damages for breach? While the discussion is based on the national rules, they are taken into account only as local variations on a European theme. To what extent is it therefore possible to speak of a common European law of contract? What contributions do the "Principles of European Contract Law" and the proposal of the "Draft Common Frame of Reference" make? This book is not only aimed at helping to teach young Europeans lawyers, but also strives to assist those engaged in the reform of national contract law or the drafting of uniform European legislation. The first 1996 edition of the volume has now been updated and completed. German description: Unter "Europaischem Vertragsrecht" versteht dieses Buch die Regeln, die den Rechtsordnungen der europaischen Lander gemeinsam sind: Wie kommt ein gultiger Vertrag zustande? Nach welchen Regeln wird beurteilt, ob eine Vertragspartei die Erfullung des Vertrages verlangen, von dem Vertrag Abstand nehmen, ihn widerrufen oder kundigen oder den Kontrahenten auf Schadensersatz in Anspruch nehmen kann? Lassen sich auf dem Gebiet des Vertragsrechts gemeineuropaische Strukturen auffinden? Gibt es allgemein akzeptierte Regeln? Wie sind sie zu formulieren, wenn man die "Prinzipien des Europaischen Vertragsrechts" oder die Vorschlage des "Draft Common Frame of Reference" berucksichtigt? Dabei werden die Losungen der nationalen Rechtsordnungen ausfuhrlich - wenn auch stets nur als nationale Variationen eines europaischen Themas - behandelt. Das Buch kann deshalb bei der rechtsvergleichenden Ausbildung der jungen europaischen Juristen eine Rolle spielen, ferner auch dort, wo e s um die Vorbereitung europaischen Gesetzesrechts oder um die Reform der nationalen Vertragsrechte geht. Das Buch ist in einer ersten unvollstandigen Auflage schon 1996 erschienen. Die Neuauflage bringt den Text auf den neuen Stand und erganzt ihn um die damals noch fehlenden Abschnitte.
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The Foundations of International Investment Law

Bringing Theory into Practice

Author: Zachary Douglas,Joost Pauwelyn,Jorge E. Viñuales

Publisher: OUP Oxford

ISBN: 0191508586

Category: Law

Page: 586

View: 9497

International investment law is one of the fastest growing areas of international law. It has led to the signing of thousands of agreements, mostly in the form of investment contracts and bilateral investment treaties. Also, in the last two decades, there has been an exponential growth in the number of disputes being resolved by investment arbitration tribunals. Yet the legal principles at the basis of international investment law and arbitration remain in a state of flux. Perhaps the best illustration of this phenomenon is the wide disagreement among investment tribunals on some of the core concepts underpinning the regime, such as investment, property, regulatory powers, scope of jurisdiction, applicable law, or the interactions with other areas of international law. The purpose of this book is to revisit these conceptual foundations in order to shed light on the practice of international investment law. It is an attempt to bridge the growing gap between the theory and the practice of this thriving area of international law. The first part of the book focuses on the 'infrastructure' of the investment regime or, more specifically, on the structural arrangements that have been developed to manage foreign investment transactions and the potential disputes arising from them. The second part of the book identifies the common conceptual bases of an array of seemingly unconnected practical problems in order to clarify the main stakes and offer balanced solutions. The third part addresses the main sources of 'regime stress' as well as the main legal mechanisms available to manage such challenges to the operation of the regime. Overall, the book offers a thorough investigation of the conflicting theoretical positions underlying international investment law, testing their worth by reference to concrete issues that have arisen in the jurisprudence. It demonstrates that many of the most important practical questions arising in practice can be addressed by a carefully dosed resort to theory.
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Europäisches Vertragsrecht

Author: Reiner Schulze,Fryderyk Zoll

Publisher: Nomos Verlagsgesellschaft

ISBN: 9783832959548

Category:

Page: 311

View: 9362

Den Kerngebieten des BGB und des HGB liegt heute das Europaische Vertragsrecht zugrunde - vom Verbraucherschutz uber das Kaufrecht bis zum Handelsvertreterrecht. Der Vorschlag der Europaischen Kommission hat zu einer eigenen europaischen Systematik auf diesem Gebiet gefuhrt. Das vorliegende Lehrbuch enthalt erstmals eine Gesamtdarstellung des Europaischen Vertragsrechts und - gibt einen umfassenden Uberblick uber alle Kernbereiche des Vertragsrechts auf europaischer Ebene. - bezieht die aktuellen Entwicklungen hinsichtlich des Vorschlags der Kommission fur ein Gemeinsames Europaisches Kaufrecht mit ein. - erleichtert den Lesern durch den Abdruck der einschlagigen Rechtstexte und Urteilspassagen den Zugang zu dieser noch sehr neuen Materie. - berucksichtigt den Kommissionvorschlag fur das Gemeinsame Europaische Kaufrecht, die neue Verbraucherrechte-Richtlinie und den Entwurf des Gemeinsamen Referenzrahmens.
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Eingriffsnormen - der "unfertige Teil" des europäischen IPR

Author: Andreas Köhler

Publisher: Mohr Siebrek Ek

ISBN: 9783161525315

Category: Law

Page: 355

View: 3478

Mit Erlass der Verordnungen zum IPR der vertraglichen und ausservertraglichen Schuldverhaltnisse wurde der Problematik der sog. "Eingriffsnormen" eine europaischeDimension gegeben, die Andreas Kohler einer umfassenden und neue Wege beschreitenden Analyse unterzieht. Er kommt hierbei - entgegen der herkommlichen Auffassung - zu dem Schluss, dass der auf in- und auslandische Eingriffsnormen bezogene kollisionsrechtliche Anwendungsbefehl nunmehr vollumfanglich europaischem Recht zu entnehmen ist. Auf dieser Grundlage errichtet er ein konsequentes System der Eingriffsnormen, welches eine koharente kollisionsrechtliche Behandlung solcher Bestimmungen im europaischen IPR unter Beachtung des europaischen Entscheidungseinklangs ermoglicht. Wichtige Konsequenzen aus dem im Rahmen seiner Arbeit entwickelten Ansatz sind eine vollstandigen Prufungskompetenz des EuGH hinsichtlich des auf in- und auslandische Eingriffsnormen bezogenen kollisionsrechtlichen Anwendungsbefehls sowie eine umfassende Anwendungspflicht dritt- und mitgliedstaatlicher Eingriffsnormen.
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Lex Maritima

Grundzüge eines transnationalen Seehandelsrechts

Author: Andreas Maurer

Publisher: Mohr Siebeck

ISBN: 9783161517815

Category: Law

Page: 260

View: 3375

English summary: Largely unnoticed by the law, the maritime trade sector has developed private mechanisms of norm-making, adjudication, and enforcement which can be called transnational law. In this context especially the participation of stakeholders provides legitimation of privately made norms and standards in international maritime trade. German description: In der Rechtswissenschaft werden unter den Stichworten aNeue Lex Mercatoria und aTransnationales Recht seit Jahrzehnten Konzepte eines globalisierten Rechts jenseits des Nationalstaats diskutiert. Weitgehend unbeachtet von derartigen Debatten hat die Seehandelsbranche aufgrund ihrer eigenen Internationalitat die Globalisierung bereits seit langem tatsachlich vollzogen. Der grenzuberschreitende Seehandel hat dabei Institutionen im Bereich von Rechtsetzung, Rechtsprechung und Rechtsdurchsetzung entwickelt, die aufgrund privater Setzung ein transnationales Seehandelsrecht begrunden. Regeln entstehen dabei in Verfahren, die unter breiter Beteiligung von allen Interessentragern des Seehandels zustande kommen. Diese dienen als Beispiel fur die Legitimation eines transnationalen Rechts, das mit staatlichem Recht interagiert und so einen hybriden Rechtskorper - eine Lex Maritima - bildet.
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Crash

Marktversagen - Staatsversagen

Author: Frank Bodmer,Silvio Borner

Publisher: N.A

ISBN: 9783725309405

Category: Financial crises

Page: 155

View: 1879

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