{"id":693,"date":"2023-01-25T09:17:30","date_gmt":"2023-01-25T16:17:30","guid":{"rendered":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/?p=693"},"modified":"2023-01-25T09:33:16","modified_gmt":"2023-01-25T16:33:16","slug":"schiefelbein-global-dispute-resolution-conference-panel-1-summary","status":"publish","type":"post","link":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/schiefelbein-global-dispute-resolution-conference-panel-1-summary\/","title":{"rendered":"Schiefelbein Global Dispute Resolution Conference: Panel 1 Summary"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"693\" class=\"elementor elementor-693\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-69298d1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"69298d1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-77a8af2\" data-id=\"77a8af2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-097f742 elementor-widget elementor-widget-text-editor\" data-id=\"097f742\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>For the next four days, the IBTBlog will summarize the panel discussions on international arbitration from the 2023 Schiefelbein Global Dispute Resolution Conference because of the importance of the discussions to international business disputes. Next week, we will resume reporting on major new developments in international business law itself.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e027793 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e027793\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-70ceb33\" data-id=\"70ceb33\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a12d1a6 elementor-widget elementor-widget-text-editor\" data-id=\"a12d1a6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong><em>By Sergey Harutynyants &amp; John Contrera<\/em><\/strong><br \/>Law Student Guest Editors<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cae1123 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cae1123\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7025f43\" data-id=\"7025f43\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b2df801 elementor-widget elementor-widget-text-editor\" data-id=\"b2df801\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The theme of the first panel at the <a href=\"https:\/\/events.asucollegeoflaw.com\/schiefelbein\/\" target=\"_blank\" rel=\"noopener\">Schiefelbein Conference<\/a> was Catastrophic Sovereign Events. The panel was moderated by Melinda Hodgson of Arnold &amp; Porter Kay Scholer LLP. The panelists were:<\/p><ul><li>Claudia Frutos-Peterson, Curtis, Mallet-Prevost, Colt &amp; Mosle LLP<\/li><li>Prof. Chiara Giorgetti, University of Richmond School of Law<\/li><li>Baiju Vasani, international arbitrator at Twenty Essex<\/li><li>Jeremy Sharpe, independent international arbitrator.\u00a0<\/li><\/ul><p><br \/>The panel started with discussion of the Russian invasion of Ukraine as an example of a catastrophic sovereign event.\u00a0 Prof. Giorgetti emphasized that the Draft Articles on Responsibility of States for Internationally Wrongful Acts can be used to seek reparation from aggressor states.\u00a0 She mentioned that, even though there are cases against Russia in the <a href=\"https:\/\/www.icj-cij.org\/en\/case\/182\">International Court of Justice<\/a> and <a href=\"https:\/\/echr.coe.int\/Pages\/home.aspx?p=home\">European Court of Human Rights<\/a>, those actions have their limitations in scope and enforcement.\u00a0 Prof. Giorgetti and Jeremy Sharpe suggested that <em>ad hoc<\/em> claims commissions are a quick way to compensate victims of catastrophic events.\u00a0 Prof. Giorgetti offered the <a href=\"https:\/\/uncc.ch\/\">United Nations Compensation Commission<\/a>,\u00a0<a href=\"https:\/\/www.state.gov\/iran-u-s-claims-tribunal\/\">Iran-US Claims Tribunal<\/a>, and the <a href=\"https:\/\/pca-cpa.org\/en\/cases\/71\/\">Eritrea-Ethiopia Claims Commission<\/a> as successful examples. Mr. Sharpe emphasized the large volume of claims arising from such catastrophic events. He argued that with that many claims using traditional adjudicative processes would overwhelm the courts, and pointed out that the commissions also improve diplomatic relations; deter future law-breaking by putting a price on aggression; provide reconciliation; and closure.<\/p><p>Baiju Vasani addressed the possibility of using bilateral investment treaties (BITs) in the case of Ukraine and argued that it sets a dangerous precedent. Mr. Vasani stated that when Russia annexed Crimea from Ukraine, investors with properties in Crimea brought claims against Russia under the Ukraine-Russia bilateral treaty, because Russia had appropriated their assets. Mr. Vasani argued this is problematic for three reasons. First, Crimea under international law is still considered Ukrainian territory. Second, investors must have invested under the host State\u2019s laws and not the occupier\u2019s laws to recover under a BIT. Finally, investment treaties are a <em>quid pro quo<\/em> transaction between states; they are not like human rights treaties, in which <em>de facto<\/em> control of territory creates obligations on the sovereign directly toward those within its power.<\/p><p>The panelists did not all agree as to who should bear the costs of catastrophic events. In case of climate change, Mr. Vasani defended the fossil fuel industry and argued that states should compensate the investors\u2019 legitimate long-term investment expectations. Claudia Frutos Peterson and Prof. Giorgetti disagreed. Prof. Giorgetti asserted that under international law, a state\u2019s rights to regulate is more prominent than fossil fuel companies\u2019 expectation of long-term investment. She used the <a href=\"https:\/\/www.iisd.org\/itn\/en\/2016\/08\/10\/philip-morris-brands-sarl-philip-morris-products-s-a-and-abal-hermanos-s-a-v-oriental-republic-of-uruguay-icsid-case-no-arb-10-7\/#:~:text=Philip%20Morris%20v.%20Uruguay%3A%20all%20claims%20dismissed%3B%20Uruguay,2010%20against%20Uruguay%20over%20its%20tobacco%20control%20measures.\"><em>Phillip Morris Tribunal<\/em><\/a> award as an example in which the investor knew that its product (tobacco) was dangerous, and was therefore expected to have anticipated government regulations. Ms. Frutos Peterson explained that in <a href=\"https:\/\/www.iisd.org\/itn\/en\/2018\/10\/18\/continental-casualty-v-argentina\/#:~:text=The%20Tribunal%20further%20held%20that%20the%20defence%20of,equitable%20treatment%20%28other%20than%20regarding%20certain%20treasury%20bills%29.\"><em>Continental Causality v. Argentina<\/em><\/a>, the tribunal looking at US-Argentina BIT ruled that financial crisis can be an essential security interest justifying state regulations. She also explained that in <a href=\"https:\/\/investmentpolicy.unctad.org\/investment-dispute-settlement\/cases\/484\/devas-v-india\"><em>Devas v. India<\/em><\/a>, the tribunal ruled that states have more flexibility as to determining what is meant by \u201cessential security interests\u201d justifying regulations. She stated, however, in <a href=\"https:\/\/investmentpolicy.unctad.org\/investment-dispute-settlement\/cases\/550\/deutsche-telekom-v-india\"><em>Deutsche Telekom v. India<\/em><\/a>, the tribunal strictly interpreted the language of the treaty and ruled that the regulation had to be an \u201cessential security interest.\u201d\u00a0 Presumably, preventing life-destroying climate change qualifies as such an interest.<\/p><p>The panel concluded with a discussion of possible solutions in BITs to address catastrophic events. Ms. Frutos Peterson observed the importance of drafting investment treaties carefully to address possible catastrophic events clearly and to include interpretative clauses to emphasize the intent of the state parties.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>For the next four days, the IBTBlog will summarize the panel discussions on international arbitration from the 2023 Schiefelbein Global Dispute Resolution Conference because of the importance of the discussions to international business disputes. Next week, we will resume reporting on major new developments in international business law itself. By Sergey Harutynyants &amp; John ContreraLaw [&hellip;]<\/p>\n","protected":false},"author":106,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[79,47,143],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/posts\/693"}],"collection":[{"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/comments?post=693"}],"version-history":[{"count":5,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/posts\/693\/revisions"}],"predecessor-version":[{"id":700,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/posts\/693\/revisions\/700"}],"wp:attachment":[{"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/media?parent=693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/categories?post=693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.asucollegeoflaw.com\/ibt\/wp-json\/wp\/v2\/tags?post=693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}