Journal of Damages in International Arbitration (JDIA)
The Journal of Damages in International Arbitration (JDIA) is focused squarely on the complex issues that arise in assessing damages and compensation in the context of international arbitration. Such issues arise, for example, in contractual disputes between commercial parties, where prior decisions in relevant courts may provide some guidance. In other cases, such as the emerging field of investment treaty arbitration, claims and remedies may vary widely from one matter to the next, providing the practitioner, client, and arbitral tribunal with scant guidance.
JDIA helps to shed light on these difficult issues by providing the perspectives of experienced damages experts, practitioners, and arbitrators on how to evaluate, analyze, quantify, and ultimately determine the amount of compensation to award. It provides a forum in which these complicated issues can be discussed and evaluated free from the setting of an adversarial proceeding.
Many arbitration practitioners consider damages the most important – and least understood – area in arbitration. As a result, clients are left to speculate about what damages they may recover or be faced with, and counsel are less able to advise their clients in a way that closely aligns client expectations with outcomes.
A subscription to JDIA helps practitioners stay up-to-date regarding damages issues and awards. This, in turn, allows them to better advise clients regarding potential recoveries and, in general, be better advocates on quantum issues. JDIA helps clients avoid unpleasant surprises by keeping them abreast of damage theories and awards, and for tribunals, it serves as an independent sounding board for discussion of many of the thorny issues they face in deciding quantum matters.
Tables of Contents and articles from each JDIA issue are linked below:
Vol. 8 2021 No. 2
TABLE OF CONTENTS
ARTICLE
What’s Behind the Numbers? UNCITRAL Working Group III on Assessment of Damages and Compensation
Irmgard Marboe
Ninth Annual Damages in International Arbitration Conference Transcript – DAY 2
PANEL III: Impacts of the COVID Pandemic on the Assessment of Damages in International Arbitration
Remarks by Thierry Sénéchal, Irmgard Marboe, Herfried Wöss, and Roula Harfouche
PANEL IV: Political and Economic Sanctions and the Assessment of Damages in International Arbitration
Remarks by James Searby, Katarina Chovancova, Brian Vaca, Chris Osborne, and Katie Hyman
CASE NOTES
RENERGY S.à.r.l. v. Kingdom of Spain, ICSID Case No. ARB/14/18
Emma A. Iannini
LSF-KEB Holdings SCA and others v. Republic of Korea, ICSID Case No. ARB/12/37
Alex Levin Canal and Alexandra Gerdes
Bank Melli Iran and Bank Saderat Iran v. The Kingdom of Bahrain, PCA Case No. 2017-25
Tamsin Parzen
Vol. 8 2021 No. 1
TABLE OF CONTENTS
ARTICLES
The Treatment of Risk in Damages Calculations
Jack Stirzaker and Benjamin Sacks
Antitrust Damages Claims and Arbitration Agreements
Christian Heinze
Ninth Annual Damages in International Arbitration Conference Transcript – DAY 1
Keynote Address: Quantum Leap: Promoting Rigor in International Arbitration with the ICCA-ASIL Damages App
Catherine Amirfar
PANEL 1: The Future of PPP Contracts in Latin America: Beyond Pandemics and Broken Economic Equilibrium
Remarks by Tiago Duarte-Silva, Lucila "Luli" Hemmingsen, María Inés Corrá, Eric Franco, Ricardo Ampuero Llerena
PANEL 2: Re-thinking the “New Business Rule”—Can or Should Income-based Approaches Be Used to Assess Damages for Non-operating Projects?
Remarks by Craig Miles, Miguel A. Nakhle, Ina C. Popova, Christina L. Beharry, Mark Kantor
CASE NOTES
Casinos Austria International GmbH and Casinos Austria Aktiengesellschaft v. Argentine Republic, ICSID Case No. ARB/14/32
Thomas Sekula
Lion Mexico Consolidated L.P. v. United Mexican States, ICSID Case No. ARB(AF)/15/2
Arturo Oropeza Casas
Vol. 7 2020 No. 2
TABLE OF CONTENTS
ARTICLES
Assessment of Damages in Commercial Arbitration after Covid-19 – The Relevance of the Applicable Causation Theory
Herfried Wöss
The Impacts of the Covid-19 Pandemic on Business Valuation in the Context of Damages Assessments
Roula Harfouche
Pre-award Interest: The Appropriate Spread on Interest Rate Benchmarks
Tiago Duarte-Silva, Aaron Dolgoff, and Julian DiPersio
CASE NOTES
Olympic Entertainment Group AS v. Ukraine, Permanent Court of Arbitration Case No. 2019-18
Alex Levin Canal, Vanessa Alarcón Duvanel, and Xiaomao Min
STEAG GmbH v. Kingdom of Spain, International Centre for Settlement of Investment Disputes (ICSID) Case No. ARB/ 15/4
Nicolas Franco
Vol. 7 2020 No. 1
TABLE OF CONTENTS
ARTICLES
International Investment Arbitration: Valuation of Possible Damages Claims in the Wake of COVID-19 Measures
Irmgard Marboe
Allocation of Damages in International Arbitration: Is There a Room for Soft Law Rules?
Caroline Kleiner
CASE NOTES
Cairn Energy PLC and Cairn UK Holdings Limited v. The Republic of India, Permanent Court of Arbitration Case No. 2016-07 65
Vivasvat (Viva) Dadwal
Freif Eurowind Holdings Ltd v. Kingdom of Spain, Stockholm Chamber of Commerce (SCC) Case No. 2017/060 91
Flora Jones
Vol. 6 2019 Nos. 1 & 2
PDF of Title Page and T.O.C. and Editor's Note
TABLE OF CONTENTS
ARTICLES
Challenges in the Estimation of Compensation in International Arbitration Cases Involving Regulated Markets
Leonardo Giacchino, Marisa Clery and Isabella Cotrupi
Loss of a Chance
James Searby
CASE NOTES
Bilcon of Delaware et al. v. Government of Canada, PCA Case No. 2009-04
Joshua S. Wan
CEF Energia B.V. v. The Italian Republic, SCC Arbitration V (2015/158)
Flora Jones
Grenada Private Power Limited and WRD Enterprises, Inc. v. Grenada, ICSID Case No. ARB/17/13
Lorna Maupilé
Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan, ICSID Case No. ARB/12/1
Viva Dadwal
Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia, ICSID Case No. ARB/16/6
Luisa Fernanda Gutiérrez Quintero
Perenco Ecuador Limited v. The Republic of Ecuador, ICSID Case No. ARB/08/6
Kateryna Frolova
Standard Chartered Bank (Hong Kong) Limited v. United Republic of Tanzania, ICSID Case No. ARB/15/41
Hanna Azkiya
Vol. 5 2018 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Assessing Country Risk at Times of Sovereign Financial Distress
Manuel A. Abdala, Carla Chavich, and Pablo López Zadicoff
A Conceptual Framework on Country Risk in the Discounted Cash Flow
Thierry J. Sénéchal
SEVENTH ANNUAL DAMAGES IN INTERNATIONAL ARBITRATION LOOKING BACK, LOOKING FORWARD:
EVOLUTION AND TRENDS CONFERENCE TRANSCRIPT
Keynote Speech
Lord Hoffmann
PANEL 1: Looking Back – 90 Years Since the Publication of Chorzów Factory
Chaired by James Searby and Timothy Nelson
Remarks by Rémy Gerbay, Carlos Lapuerta, Audley Sheppard, and Vikki Wall
PANEL 2: Looking Forward – Empirical Trends and Addressing Needs of Counsel and Tribunals
Chaired by Loukas Mistelis
Remarks by George Burn, Matt Fritzsche, Colin Johnson, and Sabine Konrad
PANEL 3: Looking Back – The Allocation of Costs in International Investment Arbitration
Chaired by Irmgard Marboe
Remarks by Hilary Heilbron QC, August Reinisch, Adriana San Román, and Mick Smith
PANEL 4: Looking Back and Forward – Ask the Experts; Q&A Session with Leading Experts
Chaired by Rory Walck
Remarks by Gladys Bagasin, Mark Beeley, John Gotanda, Roula Harfouche, Sophie J. Lamb, and Craig Miles
CASE NOTES
Novenergia II – Energy & Environment (SCA)(Grand Duchy of Luxembourg), SICAR v. Kingdom of Spain, SCC Arbitration (2015/063)
Isabel San Martín
Olin Holdings Limited (Cyprus) v. State of Libya, ICC Case No. 20355/MCP
Enrique Molina
Phillips Petroleum Company Venezuela Limited, Conocophillips Petrozuata B.V. v. Petroleos de Venezuela, S.A., Corpoguanipa, S.A., PDVSA Petroleo, S.A.,
ICC Case No. 20549/ASM/JPA (C-20550/ASM)
Alex Lo
UP and C.D Holding Internationale v. Hungary, ICSID Case No. ARB/13/35
Hanna Azkiya
Vantage Deepwater Company, Vantage Deepwater Drilling, Inc. v. Petrobras America Inc., Petrobras Venezuela Investments & Services, BV, Petróleo Brasileiro S.A.
(Petrobras Brazil), ICDR Case No. 01-15-0004-8503
Maria Eduarda Lemgruber
Vol. 5 2018 No. 1
TABLE OF CONTENTS
Preface
ARTICLES
What Premium to Use? The Setting of Post-Judgment Interest Rates Using Commercial Rates in Investment Arbitration
Leonardo Giacchino, Thomas Sturma, and Isabella Cotrupi
Valuation of Renewable Energy Projects in International Arbitration
Oliver Watts
DAMAGES IN INTERNATIONAL ENERGY DISPUTES CONFERENCE TRANSCRIPT
Keynote Address
Kaj Hober
PANEL 1: Damages Issues in Upstream Oil & Gas Disputes
Remarks by Daniel Flores, Justin Jacinto, Alexis Maniatis, Craig Miles, Michael Nolan, and George D. Ruttinger
PANEL 2: Damages Issues in Electricity-Related Arbitration: From Construction to Operation of Generation, Transmission and Distribution Assets
Remarks by José Alberro, Derrick Carson, Oscar Garibaldi, Noiana Marigo, James Searby, and Richard Sieracki
PANEL 3: Quantum and Pricing Issues in Disputes along the LNG Project Life Cycle
Remarks by Natasha Ashby, Manuel Conthe, Colin Johnson, Benno Kimmelman, Miguel Nakhle, and Timothy G. Nelson
PANEL 4: The Role of Economic Experts in Renewable Energy Disputes: Investors’ Expectations, Regulatory (Mis)Conduct, and Damages
Remarks by Arif Ali, David Kay, Miguel Nakhle, Pablo Spiller, Reginald R. Smith and Carlos Solé
CASE NOTES
Bear Creek Mining Corp. v. Republic of Peru, ICSID Case No. ARB/14/21
Jessica Bees und Crostin
Marco Gavazzi and Stefano Gavazzi v. Romania, ICSID Case No. ARB/12/25
Ginny Castelan
Koch Mineral SÁRL and Koch Nitrogen International SÁRL v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/19
Luisa Gutierrez Quintero
UAB E Energija (Lithuania) v. Republic of Latvia, ICSID Case No. ARB/12/33
Ben Williams
Vol. 4 2017 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Monte Carlo Simulations in International Arbitration
James Searby and Tim Smith
Avoiding Double Taxation on International Arbitration Awards
Eddie Tobis
Damages in Energy Disputes
Richard E. Walck
Trends in Awards from Concluded ICSID Cases
Leonardo Giacchino and Thomas Sturma
BOOK REVIEW
Calculation of Compensation and Damages in International Investment Law, 2d Ed. by Irmgard Marboe
Richard E. Walck
CASE NOTES
Murphy Exploration & Production Company - International v. The Republic of Ecuador, UNCITRAL Final Award, February 10, 2017
Sara Sargeantson Burns
Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5
Nilufar R. Hossain
Vol. 4 2017 No. 1
TABLE OF CONTENTS
Editors’ Note
ARTICLES
What Should the Standard of Compensation Be – Fair Market Value or Fair Value?
José Alberro
Early-Stage Transition of Economies in Central and Eastern Europe in the 1990’s – Any Damages to Compensate?
Rolanda Predescu
Trends in Post-Judgment Interest Awarded in Investment Arbitration
Leonardo Giacchino and Thomas Sturma
CASE NOTE
Rusoro Mining Limited v. The Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/12/5
Anisha Sud
CONFERENCE TRANSCRIPT
Keynote Address
Juan Fernández-Armesto
PANEL 1: Valuation Methods – Do Parties and Tribunals Live in the “Real” World?
Remarks by James Searby, Jimmy Pappas, Shreyas Jayasimha, George Ruttinger, Abby Cohen Smutny and Manuel Abdala
PANEL 2: Are Standards of Compensation Getting Lost in Translation?
Remarks by Christina Beharry, Timothy Nelson, Irmgard Marboe, Martin Valasek, José Alberro and Roula Harfouche
PANEL 3: Game Theory – How Do the Incentives, Processes, and Psychology of ISDS Affect Damages Outcomes?
Remarks by Rory Walck, Michael Nolan, Alexandre de Gramont, Mick Smith, Leonardo Giacchino and Geoff Senogles
PANEL 4: Mock Debate
Remarks by Francisco Abriani, Hi-Taek Shin, Jean Kalicki, Mark Kantor, Miriam Harwood, Alexis Maniatis, Craig Miles and Garrett Rush
Vol. 3 2016 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Valuation Date in Investment Arbitration: A Fundamental Examination of Chorzów’s Principles
Floriane Lavaud and Guilherme Recena Costa
Curing Uncompensated Expropriation under Chorzów
Nicholas J. Birch
Certainty in Recovery of Damages for Losses to New or Incomplete Businesses — Three Paradigms: Biloune v. Ghana, Gemplus v. Mexico, and Siag v. Egypt
Borzu Sabahi and Lukáš Hoder
The Present and Future of Moral Damages in Investment Arbitration
Stanimir A. Alexandrov
BOOK REVIEW
CASE NOTES
Vol. 3 2016 No. 1
Vol. 2 2015 No. 2
TABLE OF CONTENTS
Wojciech Sadowski
Vol. 2 2015 No. 1
TABLE OF CONTENTS
Editors’ Note
Vol. 1 2014 No. 2
TABLE OF CONTENTS
Editors' Note
ARTICLES
How Useful Are Party-Appointed Experts in International Arbitration?
Howard Rosen
Delay Damages in Construction Arbitration
Peter V. Badala and James G. Zack
Wrong Direction: "Exceptional Circumstances" and Moral Damages in International Investment Arbitration
Patrick Dumberry and Sébastien Cusson
Whose Money Is It and Should It Matter? An Essay on the Cost of Capital in International Arbitration
Mick Smith and Romans Vikis
A Case Study in Damages Estimation: Bolivia's Nationalization of EGSA
Jonathan A. Lesser
CASE NOTES
Vol. 1 2014 No. 1
TABLE OF CONTENTS
Editors' Note
ARTICLES
Assessing Damages in International Arbitration: Practical Considerations
Hilary Heilbron
Advocacy Regarding Damages in International Arbitration
Craig S. Miles
Approaches to the Award of Interest by Arbitration Tribunals
Mark Beeley and Richard E. Walck
A Factory in Chorzów: The Silesian Dispute that Continues to Influence International Law and Expropriation Damages Almost a Century Later
Timothy G. Nelson
What Is a Distressed Investor to Do?
Michael D. Nolan and Frédéric G. Sourgens
Damages in International Arbitration Second Annual Conference
From Case Filing to Arbitral Award
Introduction
Sabine Konrad, Rory Walck
Remarks by Michael Nolan
Remarks by Lisa Richman
Remarks by Rory Walck
Remarks by Lisa Richman
Remarks by Rory Walck
Editors
James Searby is a Senior Managing Director in FTI Consulting's economic and financial consulting practice, specialising in the assessment of quantum issues in contentious matters, in both litigations in national courts and international arbitrations. Mr. Searby’s primary expertise is in the field of valuation, whether of businesses, contracts, damages, intellectual property or financial assets. Mr. Searby led FTI Consulting’s International Arbitration practice in the Asia Pacific region from 2011 through early 2015, where he has given evidence before both Courts and arbitral tribunals. In April 2015, James moved to Washington, DC to lead the build-up of the International Arbitration practice in that region. Mr. Searby has a broad range of experience in the assessment of complex damages in high-value international arbitration and litigation cases in matters involving, inter alia, alleged expropriation, breach of contract, patent infringement and shareholder disputes. The range of Mr. Searby's industry experience encompasses telecommunications, oil and gas, chemicals, tobacco, infrastructure, healthcare, media, life insurance, retailing and banking. He has worked in EMEA, North America and the Asia Pacific region for governments, companies and individuals, whether as claimants or respondents on matters ranging in value from less than US$1m to more than US$2bn. Mr. Searby has acted as instructor at the Masters in International Dispute Settlement programme at the University of Geneva, and as an expert witness at training workshops organised by the Foundation for International Arbitration Advocacy (FIAA). Mr. Searby holds a Master in Business Administration from Imperial College at the University of London and a B.A. in Modern History and Economics from the University of Oxford. He is a CFA Charterholder.
Craig Miles is a Partner in King & Spalding’s International Arbitration Group, residing in the Houston office. His practice focuses on representing foreign investors in disputes with host governments, primarily before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), and private parties in commercial disputes before the International Chamber of Commerce (ICC), the American Arbitration Association (AAA), and other domestic and international arbitral institutions. Mr. Miles has first- or second-chaired dozens of arbitral hearings involving disputes throughout North and South America, Europe, Asia, Africa and the Middle East, with particularly strong experience in bilateral investment treaty (BIT) disputes in the oil & gas and infrastructure sectors and in Latin America. Among his recent cases are some of the largest BIT awards and settlements ever obtained by foreign investors, against the likes of the governments of Argentina, Bolivia, Ecuador, Egypt, Romania and Venezuela. He also acts as lead external counsel to the Arbitration Committee of the USA Rice Millers Association, a trade group that has administered dozens of arbitrations involving the rice industry worldwide.
Dr. Irmgard Marboe is Professor at the Department of European, International and Comparative Law at the Law Faculty of the University of Vienna. She studied law and languages at the University of Vienna (Austria) and at the Universidad Complutense de Madrid (Spain). She wrote her doctoral thesis on State aids in European Community Law in the cultural sector and published several articles in the area of European Community Law. In the last years, she focused on international law and more particularly on international investment law. In her post-doctoral thesis ("habilitation") she analysed the concepts of compensation and damages under international law in the practice of international courts and tribunals. In addition, she writes and publishes on the Dialogue of civilizations focusing on Islamic law and law and religion as well as on Space Law. She is heading the Subpoint Space Law of the Austrian National Point of Contact of the European Centre for Space Law. She teaches International Law at the University of Vienna and acts as consultant for law firms and enterprises. She speaks German, English, French, Italian, and Spanish.
Board of Editors
Alden Atkins, Vinson & Elkins, Washington
Peter Badala, Navigant Consulting, San Francisco
John Ellison, KPMG, London
Leonardo Giacchino, Solutions Economics, Washington
Malcolm Holmes, Eleven Wentworth, Sydney
Brenda Horrigan, Herbert Smith Freehills, Shanghai
Daniel Kalderimis, Chapman Tripp, Wellington
Mark Kantor, Independent Arbitrator, Washington
Loukas Mistelis, Queen Mary University, London
Sirshar Qureshi, PricewaterhouseCoopers, Prague
Howard Rosen, FTI Consulting, Toronto
Geoff Senogles, Charles River Associates, Geneva
Tom Sikora, ExxonMobil, Houston
Editors
James Searby is a Senior Managing Director in FTI Consulting's economic and financial consulting practice, specialising in the assessment of quantum issues in contentious matters, in both litigations in national courts and international arbitrations. Mr. Searby’s primary expertise is in the field of valuation, whether of businesses, contracts, damages, intellectual property or financial assets. Mr. Searby led FTI Consulting’s International Arbitration practice in the Asia Pacific region from 2011 through early 2015, where he has given evidence before both Courts and arbitral tribunals. In April 2015, James moved to Washington, DC to lead the build-up of the International Arbitration practice in that region. Mr. Searby has a broad range of experience in the assessment of complex damages in high-value international arbitration and litigation cases in matters involving, inter alia, alleged expropriation, breach of contract, patent infringement and shareholder disputes. The range of Mr. Searby's industry experience encompasses telecommunications, oil and gas, chemicals, tobacco, infrastructure, healthcare, media, life insurance, retailing and banking. He has worked in EMEA, North America and the Asia Pacific region for governments, companies and individuals, whether as claimants or respondents on matters ranging in value from less than US$1m to more than US$2bn. Mr. Searby has acted as instructor at the Masters in International Dispute Settlement programme at the University of Geneva, and as an expert witness at training workshops organised by the Foundation for International Arbitration Advocacy (FIAA). Mr. Searby holds a Master in Business Administration from Imperial College at the University of London and a B.A. in Modern History and Economics from the University of Oxford. He is a CFA Charterholder.
Craig Miles is a Partner in King & Spalding’s International Arbitration Group, residing in the Houston office. His practice focuses on representing foreign investors in disputes with host governments, primarily before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), and private parties in commercial disputes before the International Chamber of Commerce (ICC), the American Arbitration Association (AAA), and other domestic and international arbitral institutions. Mr. Miles has first- or second-chaired dozens of arbitral hearings involving disputes throughout North and South America, Europe, Asia, Africa and the Middle East, with particularly strong experience in bilateral investment treaty (BIT) disputes in the oil & gas and infrastructure sectors and in Latin America. Among his recent cases are some of the largest BIT awards and settlements ever obtained by foreign investors, against the likes of the governments of Argentina, Bolivia, Ecuador, Egypt, Romania and Venezuela. He also acts as lead external counsel to the Arbitration Committee of the USA Rice Millers Association, a trade group that has administered dozens of arbitrations involving the rice industry worldwide.
Dr. Irmgard Marboe is Professor at the Department of European, International and Comparative Law at the Law Faculty of the University of Vienna. She studied law and languages at the University of Vienna (Austria) and at the Universidad Complutense de Madrid (Spain). She wrote her doctoral thesis on State aids in European Community Law in the cultural sector and published several articles in the area of European Community Law. In the last years, she focused on international law and more particularly on international investment law. In her post-doctoral thesis ("habilitation") she analysed the concepts of compensation and damages under international law in the practice of international courts and tribunals. In addition, she writes and publishes on the Dialogue of civilizations focusing on Islamic law and law and religion as well as on Space Law. She is heading the Subpoint Space Law of the Austrian National Point of Contact of the European Centre for Space Law. She teaches International Law at the University of Vienna and acts as consultant for law firms and enterprises. She speaks German, English, French, Italian, and Spanish.
Board of Editors
Alden Atkins, Vinson & Elkins, Washington
Peter Badala, Navigant Consulting, San Francisco
John Ellison, KPMG, London
Leonardo Giacchino, Solutions Economics, Washington
Malcolm Holmes, Eleven Wentworth, Sydney
Brenda Horrigan, Herbert Smith Freehills, Shanghai
Daniel Kalderimis, Chapman Tripp, Wellington
Mark Kantor, Independent Arbitrator, Washington
Loukas Mistelis, Queen Mary University, London
Sirshar Qureshi, PricewaterhouseCoopers, Prague
Howard Rosen, FTI Consulting, Toronto
Geoff Senogles, Charles River Associates, Geneva
Tom Sikora, ExxonMobil, Houston
Tables of Contents and articles from each JDIA issue are linked below:
Vol. 8 2021 No. 2
TABLE OF CONTENTS
ARTICLE
What’s Behind the Numbers? UNCITRAL Working Group III on Assessment of Damages and Compensation
Irmgard Marboe
Ninth Annual Damages in International Arbitration Conference Transcript – DAY 2
PANEL III: Impacts of the COVID Pandemic on the Assessment of Damages in International Arbitration
Remarks by Thierry Sénéchal, Irmgard Marboe, Herfried Wöss, and Roula Harfouche
PANEL IV: Political and Economic Sanctions and the Assessment of Damages in International Arbitration
Remarks by James Searby, Katarina Chovancova, Brian Vaca, Chris Osborne, and Katie Hyman
CASE NOTES
RENERGY S.à.r.l. v. Kingdom of Spain, ICSID Case No. ARB/14/18
Emma A. Iannini
LSF-KEB Holdings SCA and others v. Republic of Korea, ICSID Case No. ARB/12/37
Alex Levin Canal and Alexandra Gerdes
Bank Melli Iran and Bank Saderat Iran v. The Kingdom of Bahrain, PCA Case No. 2017-25
Tamsin Parzen
Vol. 8 2021 No. 1
TABLE OF CONTENTS
ARTICLES
The Treatment of Risk in Damages Calculations
Jack Stirzaker and Benjamin Sacks
Antitrust Damages Claims and Arbitration Agreements
Christian Heinze
Ninth Annual Damages in International Arbitration Conference Transcript – DAY 1
Keynote Address: Quantum Leap: Promoting Rigor in International Arbitration with the ICCA-ASIL Damages App
Catherine Amirfar
PANEL 1: The Future of PPP Contracts in Latin America: Beyond Pandemics and Broken Economic Equilibrium
Remarks by Tiago Duarte-Silva, Lucila "Luli" Hemmingsen, María Inés Corrá, Eric Franco, Ricardo Ampuero Llerena
PANEL 2: Re-thinking the “New Business Rule”—Can or Should Income-based Approaches Be Used to Assess Damages for Non-operating Projects?
Remarks by Craig Miles, Miguel A. Nakhle, Ina C. Popova, Christina L. Beharry, Mark Kantor
CASE NOTES
Casinos Austria International GmbH and Casinos Austria Aktiengesellschaft v. Argentine Republic, ICSID Case No. ARB/14/32
Thomas Sekula
Lion Mexico Consolidated L.P. v. United Mexican States, ICSID Case No. ARB(AF)/15/2
Arturo Oropeza Casas
Vol. 7 2020 No. 2
TABLE OF CONTENTS
ARTICLES
Assessment of Damages in Commercial Arbitration after Covid-19 – The Relevance of the Applicable Causation Theory
Herfried Wöss
The Impacts of the Covid-19 Pandemic on Business Valuation in the Context of Damages Assessments
Roula Harfouche
Pre-award Interest: The Appropriate Spread on Interest Rate Benchmarks
Tiago Duarte-Silva, Aaron Dolgoff, and Julian DiPersio
CASE NOTES
Olympic Entertainment Group AS v. Ukraine, Permanent Court of Arbitration Case No. 2019-18
Alex Levin Canal, Vanessa Alarcón Duvanel, and Xiaomao Min
STEAG GmbH v. Kingdom of Spain, International Centre for Settlement of Investment Disputes (ICSID) Case No. ARB/ 15/4
Nicolas Franco
Vol. 7 2020 No. 1
TABLE OF CONTENTS
ARTICLES
International Investment Arbitration: Valuation of Possible Damages Claims in the Wake of COVID-19 Measures
Irmgard Marboe
Allocation of Damages in International Arbitration: Is There a Room for Soft Law Rules?
Caroline Kleiner
CASE NOTES
Cairn Energy PLC and Cairn UK Holdings Limited v. The Republic of India, Permanent Court of Arbitration Case No. 2016-07 65
Vivasvat (Viva) Dadwal
Freif Eurowind Holdings Ltd v. Kingdom of Spain, Stockholm Chamber of Commerce (SCC) Case No. 2017/060 91
Flora Jones
Vol. 6 2019 Nos. 1 & 2
PDF of Title Page and T.O.C. and Editor's Note
TABLE OF CONTENTS
ARTICLES
Challenges in the Estimation of Compensation in International Arbitration Cases Involving Regulated Markets
Leonardo Giacchino, Marisa Clery and Isabella Cotrupi
Loss of a Chance
James Searby
CASE NOTES
Bilcon of Delaware et al. v. Government of Canada, PCA Case No. 2009-04
Joshua S. Wan
CEF Energia B.V. v. The Italian Republic, SCC Arbitration V (2015/158)
Flora Jones
Grenada Private Power Limited and WRD Enterprises, Inc. v. Grenada, ICSID Case No. ARB/17/13
Lorna Maupilé
Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan, ICSID Case No. ARB/12/1
Viva Dadwal
Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia, ICSID Case No. ARB/16/6
Luisa Fernanda Gutiérrez Quintero
Perenco Ecuador Limited v. The Republic of Ecuador, ICSID Case No. ARB/08/6
Kateryna Frolova
Standard Chartered Bank (Hong Kong) Limited v. United Republic of Tanzania, ICSID Case No. ARB/15/41
Hanna Azkiya
Vol. 5 2018 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Assessing Country Risk at Times of Sovereign Financial Distress
Manuel A. Abdala, Carla Chavich, and Pablo López Zadicoff
A Conceptual Framework on Country Risk in the Discounted Cash Flow
Thierry J. Sénéchal
SEVENTH ANNUAL DAMAGES IN INTERNATIONAL ARBITRATION LOOKING BACK, LOOKING FORWARD:
EVOLUTION AND TRENDS CONFERENCE TRANSCRIPT
Keynote Speech
Lord Hoffmann
PANEL 1: Looking Back – 90 Years Since the Publication of Chorzów Factory
Chaired by James Searby and Timothy Nelson
Remarks by Rémy Gerbay, Carlos Lapuerta, Audley Sheppard, and Vikki Wall
PANEL 2: Looking Forward – Empirical Trends and Addressing Needs of Counsel and Tribunals
Chaired by Loukas Mistelis
Remarks by George Burn, Matt Fritzsche, Colin Johnson, and Sabine Konrad
PANEL 3: Looking Back – The Allocation of Costs in International Investment Arbitration
Chaired by Irmgard Marboe
Remarks by Hilary Heilbron QC, August Reinisch, Adriana San Román, and Mick Smith
PANEL 4: Looking Back and Forward – Ask the Experts; Q&A Session with Leading Experts
Chaired by Rory Walck
Remarks by Gladys Bagasin, Mark Beeley, John Gotanda, Roula Harfouche, Sophie J. Lamb, and Craig Miles
CASE NOTES
Novenergia II – Energy & Environment (SCA)(Grand Duchy of Luxembourg), SICAR v. Kingdom of Spain, SCC Arbitration (2015/063)
Isabel San Martín
Olin Holdings Limited (Cyprus) v. State of Libya, ICC Case No. 20355/MCP
Enrique Molina
Phillips Petroleum Company Venezuela Limited, Conocophillips Petrozuata B.V. v. Petroleos de Venezuela, S.A., Corpoguanipa, S.A., PDVSA Petroleo, S.A.,
ICC Case No. 20549/ASM/JPA (C-20550/ASM)
Alex Lo
UP and C.D Holding Internationale v. Hungary, ICSID Case No. ARB/13/35
Hanna Azkiya
Vantage Deepwater Company, Vantage Deepwater Drilling, Inc. v. Petrobras America Inc., Petrobras Venezuela Investments & Services, BV, Petróleo Brasileiro S.A.
(Petrobras Brazil), ICDR Case No. 01-15-0004-8503
Maria Eduarda Lemgruber
Vol. 5 2018 No. 1
TABLE OF CONTENTS
Preface
ARTICLES
What Premium to Use? The Setting of Post-Judgment Interest Rates Using Commercial Rates in Investment Arbitration
Leonardo Giacchino, Thomas Sturma, and Isabella Cotrupi
Valuation of Renewable Energy Projects in International Arbitration
Oliver Watts
DAMAGES IN INTERNATIONAL ENERGY DISPUTES CONFERENCE TRANSCRIPT
Keynote Address
Kaj Hober
PANEL 1: Damages Issues in Upstream Oil & Gas Disputes
Remarks by Daniel Flores, Justin Jacinto, Alexis Maniatis, Craig Miles, Michael Nolan, and George D. Ruttinger
PANEL 2: Damages Issues in Electricity-Related Arbitration: From Construction to Operation of Generation, Transmission and Distribution Assets
Remarks by José Alberro, Derrick Carson, Oscar Garibaldi, Noiana Marigo, James Searby, and Richard Sieracki
PANEL 3: Quantum and Pricing Issues in Disputes along the LNG Project Life Cycle
Remarks by Natasha Ashby, Manuel Conthe, Colin Johnson, Benno Kimmelman, Miguel Nakhle, and Timothy G. Nelson
PANEL 4: The Role of Economic Experts in Renewable Energy Disputes: Investors’ Expectations, Regulatory (Mis)Conduct, and Damages
Remarks by Arif Ali, David Kay, Miguel Nakhle, Pablo Spiller, Reginald R. Smith and Carlos Solé
CASE NOTES
Bear Creek Mining Corp. v. Republic of Peru, ICSID Case No. ARB/14/21
Jessica Bees und Crostin
Marco Gavazzi and Stefano Gavazzi v. Romania, ICSID Case No. ARB/12/25
Ginny Castelan
Koch Mineral SÁRL and Koch Nitrogen International SÁRL v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/11/19
Luisa Gutierrez Quintero
UAB E Energija (Lithuania) v. Republic of Latvia, ICSID Case No. ARB/12/33
Ben Williams
Vol. 4 2017 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Monte Carlo Simulations in International Arbitration
James Searby and Tim Smith
Avoiding Double Taxation on International Arbitration Awards
Eddie Tobis
Damages in Energy Disputes
Richard E. Walck
Trends in Awards from Concluded ICSID Cases
Leonardo Giacchino and Thomas Sturma
BOOK REVIEW
Calculation of Compensation and Damages in International Investment Law, 2d Ed. by Irmgard Marboe
Richard E. Walck
CASE NOTES
Murphy Exploration & Production Company - International v. The Republic of Ecuador, UNCITRAL Final Award, February 10, 2017
Sara Sargeantson Burns
Burlington Resources Inc. v. Republic of Ecuador, ICSID Case No. ARB/08/5
Nilufar R. Hossain
Vol. 4 2017 No. 1
TABLE OF CONTENTS
Editors’ Note
ARTICLES
What Should the Standard of Compensation Be – Fair Market Value or Fair Value?
José Alberro
Early-Stage Transition of Economies in Central and Eastern Europe in the 1990’s – Any Damages to Compensate?
Rolanda Predescu
Trends in Post-Judgment Interest Awarded in Investment Arbitration
Leonardo Giacchino and Thomas Sturma
CASE NOTE
Rusoro Mining Limited v. The Bolivarian Republic of Venezuela, ICSID Case No. ARB(AF)/12/5
Anisha Sud
CONFERENCE TRANSCRIPT
Keynote Address
Juan Fernández-Armesto
PANEL 1: Valuation Methods – Do Parties and Tribunals Live in the “Real” World?
Remarks by James Searby, Jimmy Pappas, Shreyas Jayasimha, George Ruttinger, Abby Cohen Smutny and Manuel Abdala
PANEL 2: Are Standards of Compensation Getting Lost in Translation?
Remarks by Christina Beharry, Timothy Nelson, Irmgard Marboe, Martin Valasek, José Alberro and Roula Harfouche
PANEL 3: Game Theory – How Do the Incentives, Processes, and Psychology of ISDS Affect Damages Outcomes?
Remarks by Rory Walck, Michael Nolan, Alexandre de Gramont, Mick Smith, Leonardo Giacchino and Geoff Senogles
PANEL 4: Mock Debate
Remarks by Francisco Abriani, Hi-Taek Shin, Jean Kalicki, Mark Kantor, Miriam Harwood, Alexis Maniatis, Craig Miles and Garrett Rush
Vol. 3 2016 No. 2
TABLE OF CONTENTS
Editors’ Note
ARTICLES
Valuation Date in Investment Arbitration: A Fundamental Examination of Chorzów’s Principles
Floriane Lavaud and Guilherme Recena Costa
Curing Uncompensated Expropriation under Chorzów
Nicholas J. Birch
Certainty in Recovery of Damages for Losses to New or Incomplete Businesses — Three Paradigms: Biloune v. Ghana, Gemplus v. Mexico, and Siag v. Egypt
Borzu Sabahi and Lukáš Hoder
The Present and Future of Moral Damages in Investment Arbitration
Stanimir A. Alexandrov
BOOK REVIEW
CASE NOTES
Vol. 3 2016 No. 1
Vol. 2 2015 No. 2
TABLE OF CONTENTS
Wojciech Sadowski
Vol. 2 2015 No. 1
TABLE OF CONTENTS
Editors’ Note
Vol. 1 2014 No. 2
TABLE OF CONTENTS
Editors' Note
ARTICLES
How Useful Are Party-Appointed Experts in International Arbitration?
Howard Rosen
Delay Damages in Construction Arbitration
Peter V. Badala and James G. Zack
Wrong Direction: "Exceptional Circumstances" and Moral Damages in International Investment Arbitration
Patrick Dumberry and Sébastien Cusson
Whose Money Is It and Should It Matter? An Essay on the Cost of Capital in International Arbitration
Mick Smith and Romans Vikis
A Case Study in Damages Estimation: Bolivia's Nationalization of EGSA
Jonathan A. Lesser
CASE NOTES
Vol. 1 2014 No. 1
TABLE OF CONTENTS
Editors' Note
ARTICLES
Assessing Damages in International Arbitration: Practical Considerations
Hilary Heilbron
Advocacy Regarding Damages in International Arbitration
Craig S. Miles
Approaches to the Award of Interest by Arbitration Tribunals
Mark Beeley and Richard E. Walck
A Factory in Chorzów: The Silesian Dispute that Continues to Influence International Law and Expropriation Damages Almost a Century Later
Timothy G. Nelson
What Is a Distressed Investor to Do?
Michael D. Nolan and Frédéric G. Sourgens
Damages in International Arbitration Second Annual Conference
From Case Filing to Arbitral Award
Introduction
Sabine Konrad, Rory Walck
Remarks by Michael Nolan
Remarks by Lisa Richman
Remarks by Rory Walck
Remarks by Lisa Richman
Remarks by Rory Walck