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1 – 10 of 241This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration…
Abstract
Purpose
This theme will be addressed through main points: Special Nature of Investment Disputes and its methods of peaceful settlement. International legal framework governing Arbitration in investment disputes: A. Multilateral legal framework. B. Bilateral legal framework/Investment promotion and protection agreementsTypes of arbitration in investment disputes. The Egyptian experience in investment disputes arbitration. The National legal framework. Egypt on the map of investment disputes in the world. A case study. Conclusion: Results related to the legal framework regulating investment disputes in Egypt. Results related to The arbitration cases against Egypt.
Design/methodology/approach
The researcher investigates the subject of international arbitration in investment disputes in the framework of voluntary theory, which is based on the premise that the satisfaction of people who are addressing the international legal norm is the basis of the same rule. In other words, the basis of international law is based on the satisfaction of the State and other international legal persons Both, and then express or implied consent.
Findings
Despite the availability of domestic and regional arbitration mechanisms in Egypt represented by a large number of cases.
Research limitations/implications
The theme for the study primarily on Egypt and the international arbitration of investment disputes, through theoretical and practical study of disputes arbitration which Egypt is a party defendant in which to focus on what was issued in which the provisions of the International Center for Settlement of Investment Disputes, in an attempt to find out the reasons for the verdicts image released it, where it came mostly against Egypt, and whether these judgments against them in investment disputes due to reasons related to the legal framework of the arbitration process, or for reasons of bodies of arbitration issued by those provisions, or to the defense, which represents the Egyptian party, or to the circumstances Economic and political (which represents the investment climate).
Originality/value
The proposed solutions to improve the conditions and factors surrounding the arbitration disputes that Egypt is waging against foreign investors, whether they are initially alleged or accused of drafting agreements and contracts, through amending the relevant legislation and laws, selecting arbitration bodies and defense bodies.
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João Vidal, João Albino Silva and Guilherme Castela
This chapter addresses the issue of arbitration in tourism from the perspective of litigation. International tourism requires two or more legal systems to solve a given problem…
Abstract
This chapter addresses the issue of arbitration in tourism from the perspective of litigation. International tourism requires two or more legal systems to solve a given problem, which creates great complexity. To diminish this effect, organizations have been encouraged to use arbitration instead of courts, and thus, it is necessary to measure its effect on them. The analysis used the Biplot methodology, a multivariate technique in the context of reduced dimensionality. The results obtained indicated that tourism demand and supply were willing to pay for arbitration, but the latter erroneously considered the former unwilling to pay. This chapter suggests that tourism companies can raise the price of their products to increase their profit.
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Jaffar Yakkop Alkhayer and Chander Mohan Gupta
This paper aims to examine the options available to arbitrators when they suspect money laundering during arbitration proceedings, considering their compatibility with fundamental…
Abstract
Purpose
This paper aims to examine the options available to arbitrators when they suspect money laundering during arbitration proceedings, considering their compatibility with fundamental principles and concepts of arbitration.
Design/methodology/approach
Using a doctrinal analysis approach, the paper draws on legal principles, antimoney laundering regulations and relevant literature to explore the topic. It considers relevant international treaties, standards set by the financial action task force on money laundering, cases and arguments from legal analysts and experts.
Findings
The paper identifies three options for arbitrators: disregarding suspicions, initiating an investigation or terminating the proceedings. Disregarding suspicions is deemed inappropriate, as it may facilitate the concealment of financial crimes. Initiating an investigation is seen as a preferable option, aligning with the arbitrator’s role and the public interest in nullifying contracts linked to criminal conduct. Terminating the proceedings is not recommended, as it contradicts the principle of natural justice. The paper emphasizes the importance of reasonable grounds for suspicions, notifying the parties, and allowing them to address the concerns.
Originality/value
This paper contributes to the existing literature by comprehensively analyzing the compatibility of these options with arbitration principles and concepts. It underscores the need for clear laws and directives to guide arbitrators in addressing financial crimes within the arbitration process, maintaining a balance between party autonomy and preventing the misuse of arbitration for illicit activities.
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Ibrahim Mathker Saleh Alotaibi, Mohammad Omar Mohammad Alhejaili, Doaa Mohamed Ibrahim Badran and Mahmoud Abdelgawwad Abdelhady
This paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which…
Abstract
Purpose
This paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country’s evolving private law framework.
Design/methodology/approach
This paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade.
Findings
The paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms.
Originality/value
It will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom’s ambivalent investment law regime.
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This paper explores the experience of “Shari’a” as non-state law in the English courts through a historical analysis of past Islamic finance dispute resolutions (IFDRs). This…
Abstract
Purpose
This paper explores the experience of “Shari’a” as non-state law in the English courts through a historical analysis of past Islamic finance dispute resolutions (IFDRs). This paper aims to propose a conceivable scenario relating to the law applicable in international commercial contracts in the English courts with the emergence of the Hague Principles 2015.
Design/methodology/approach
This paper addresses several issues that have been raised in English case law: doubts about the legal nature of “Shari’a” as non-state law; the limits placed on freedom of choice of “Shari’a” law by the application of a single legal system; and the distinction between application of law and incorporation by reference of “Shari’a” in IFDRs. The paper then analyses the conformity of “Shari’a” with the provisions now used to resolve Islamic finance disputes (trade and investment) in the English courts, using an empirical analysis of The Accounting and Auditing Organization for Islamic Financial Institutions standards.
Findings
The paper provides that, in theory, “Shari’a” standards could play a significant role in IFDRs after Brexit, even though a gap persists in practice because the Hague Principles 2015 have not yet been adopted by the English legal system.
Research limitations/implications
The study focuses on the English courts and shows how the IFDRs could be resolved with the emergence of Hague Principles 2015 in the post-Brexit era.
Originality/value
To the best of the author’s knowledge, this paper appears to be the first paper to provide a conceivable scenario relating to the future of the IFDRs in the English courts.
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Issaka Ndekugri, Ana Karina Silverio and Jim Mason
States have intervened with legislation to improve cashflow within construction project supply chains. The operation of the UK’s Housing Grants, Construction and Regeneration Act…
Abstract
Purpose
States have intervened with legislation to improve cashflow within construction project supply chains. The operation of the UK’s Housing Grants, Construction and Regeneration Act 1996 leads to payment obligations stated either as a contract administrator’s certificate (or equivalent) or an adjudicator’s decision. The purpose of the intervention would be defeated unless there are speedy ways of transforming these pieces of paper into real money. The combination of the legislation, contractual provisions and insolvency law has produced a minefield of complexity concerning enforcement of payment obligations stated in these documents. Unfortunately, the knowledge and understanding required to navigate these complexities have been sorely lacking. The purpose of this paper is to plug this gap.
Design/methodology/approach
Legal research methods and case study approaches, using relevant court decisions as data, were adopted.
Findings
The enforcement method advised by the court is the summary judgment procedure provided under the Civil Procedure Rules. An overdue payment obligation, either under the terms of a construction contract or an adjudicator’s decision, amounts to a debt that can be the subject of insolvency proceedings. Although the insolvency enforcement method has been successfully used on some occasions, using it purely as a debt collection weapon would be inappropriate and likely to be punished by the court.
Originality/value
The paper contributes to knowledge in two ways: (i) it maps out the factual situations in which these payment challenges arise in language accessible to the construction industry’s professions; and (ii) comparative analysis of payment enforcement methods to aid decision-making by parties to construction industry contracts. It is relevant to the other common-law jurisdictions in which similar statutory interventions have been made.
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This paper aims to deal with a real-life strategic conflict in joint operations (JOs) for facility location decision and planning in an oil and gas field that stretches over two…
Abstract
Purpose
This paper aims to deal with a real-life strategic conflict in joint operations (JOs) for facility location decision and planning in an oil and gas field that stretches over two countries and tries to develop a basis for mitigating such conflict.
Design/methodology/approach
This paper develops a novel approach using integer linear programming (ILP) to determine optimal facility location considering technical, economic and environmental factors. Strategic decision-making in JOs is also influenced by business priorities of individual partner, sociopolitical issues and other covert factors. The cost-related quantitative factors are normalized using inverse normalization function as these are to be minimized, and qualitative factors that are multi-decision-making criteria are maximized, thus transforming both qualitative and quantitative factors as a single objective of maximization in ILP model.
Findings
The model identifies the most suitable facility location based on a wide range of factors that would provide maximum benefit in the long term, which will help decision-makers and managers.
Research limitations/implications
The model can be expanded incorporating other quantitative and qualitative factors such as tax incentives by the government, local bodies and government regulations.
Practical implications
The applicability of the model is not limited to JOs or oil/gas field, but is applicable to a wide range of sectors.
Originality/value
The model is transparent and based on rational and scientific basis, which would help in building consensus among the dissenting parties and aid in mitigating strategic conflict. Such type of model for mitigating strategic conflict has not been reported/used before.
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Fabian Teichmann, Sonia Ruxandra Boticiu and Bruno S. Sergi
The purpose of this study is to provide a firsthand perspective on the challenges and risks that can arise in arbitration proceedings.
Abstract
Purpose
The purpose of this study is to provide a firsthand perspective on the challenges and risks that can arise in arbitration proceedings.
Design/methodology/approach
To investigate the concrete methods money launderers use, a qualitative study was conducted with 10 alleged money launderers and 18 prevention experts. The results were then tested quantitatively, and it was concluded that among money launderers, the highly regulated financial sector is less popular than other sectors.
Findings
Money launderers relocate to unregulated sectors or offshore banks to avoid being questioned by compliance officers. Therefore, it is necessary for arbitrators involved in commercial or investor–state arbitration to have the expertise to readily identify the issues raised by these criminal law concepts and provide answers.
Originality/value
This paper examines the intersection between the areas of international commercial arbitration and money laundering, bribery, as well as embezzlement. At the same time, it draws attention to the need to analyze compliance issues in arbitration proceedings.
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Lovina E. Otudor and Mahmood Bagheri
This study aims to focus on the legal status of the Financial Action Task Force (FATF) regulatory spread in spite of its limited membership in international law. This is conducted…
Abstract
Purpose
This study aims to focus on the legal status of the Financial Action Task Force (FATF) regulatory spread in spite of its limited membership in international law. This is conducted by examining the regime of the FATF with the normative regime of public international law and trying to identify common grounds and conflicts between the two.
Design/methodology/approach
This study adopted an exploratory approach involving a thorough examination and analysis of accredited text, command papers and reports, archival materials, national obligations, websites as well as other documentary evidence.
Findings
This research gives an empirical determinant of compliance behaviour in response to FATF regulatory standards and the interplay of international law.
Research limitations/implications
The findings here are not exhaustive and could be approached from other perspectives. Researchers are therefore encouraged to engage by testing the findings further, as this is only a blueprint for further research.
Practical implications
This study provides implications for the need to open up the current membership of the FATF, as it appears discriminatory in nature and could inhibit effective compliance with its regulatory standards.
Social implications
FATF regulatory standards do not just revolve around its members and rule-takers but also affect unintended and vulnerable people who were never in contemplation when these regulations were debated without a global consensus.
Originality/value
The main aim of this study is to advocate for a rethink of FATF’s regulatory strategy by ensuring that its operations are more inclusive, where jurisdictions can participate as members, creating a sense of belonging and commitment in the fight against money laundering.
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This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry.
Abstract
Purpose
This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry.
Design/methodology/approach
This study is a doctrinal legal research that embraces a point-by-point comparative methodology with a library research technique.
Findings
This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Finally, this study finds that anti-corruption organisations in Nigeria are not efficient due to non-existence of the Federal Government’s political will to fight corruption, insufficient funds and absence of stringent implementation of the anti-corruption legal regime in the country.
Research limitations/implications
Investigations reveal during this study that Nigerian National Petroleum Corporation (NNPC) operations are characterised with poor record-keeping, lack of accountability as well as secrecy in the award of oil contracts, oil licence, leases and other financial transactions due to non-disclosure or confidentiality clauses contained in most of these contracts. Also, an arbitration proceeding limit access to their records and some of these agreements under contentions. This has also limited the success of this research work and generalising its findings.
Practical implications
This study recommends, among other reforms, soft law technique and stringent execution of anti-corruption statutes. This study also recommends increment in financial appropriation to Nigeria’s anti-corruption institutions, taking into consideration the finding that a meagre budget is a drawback.
Social implications
This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Corruption flourishes due to poor enforcement of anti-corruption laws and the absence of political will in offering efficient regulatory intervention by the government.
Originality/value
The study advocates the need for enhancement of anti-corruption agencies' budgets taking into consideration the finding that meagres budgets are challenge of the agencies.
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