Fiji Accedes to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards
With its accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (also commonly known as the New York Convention), effected on 27 September 2010, Fiji becomes the 145th State party to the Convention. The Convention will enter into force for Fiji on 26 December 2010.
Facts and Figures on ICC Arbitration: Requests for arbitration down 3% in 2010
The ICC Court of Arbitraion recently released its figures for 2010 showing the following prelminary statistics:
- 793 Requests for Arbitration were filed with the ICC Court (down 3% from 2009, cf. here for 2009 figures)
- Those Requests concerned 2,145 parties from 140 countries and independent territories;
- In 10% of cases at least one of the parties was a State or parastatal entity;
- The place of arbitration was located in 53 countries throughout the world;
- Arbitrators of 73 nationalities were appointed or confirmed under the ICC Rules;
- The amount in dispute was under one million US dollars in 24.1% of new cases;
- 478 awards were rendered.
ICCA elects new president: Prof. Jan Paulsson
Prof. Jan Paulsson has been elected by the ICCA Council to serve as the next ICCA President. He replaces Dr. Gerold Herrmann, who has served as President of ICCA since 2002 and was previously attached to UNCITRAL and the LCIA.