BINDING THIRD PARTIES TO ARBITRATION – THE NEW NORM?

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BINDING THIRD PARTIES TO ARBITRATION – THE NEW NORM

Shweta Surana, Assessment Intern INTRODUCTION One of the most fundamental cornerstones of arbitration is consent. It is by virtue of this unique characteristic of arbitration, that only those parties which consented to the arbitration agreement can be bound by the agreement and the resulting arbitral award. However, like all things go, there exists an exception for this principle as well. Sometimes, there are certain disputes that cannot be resolved without involving a third party to the arbitration. At times like this, it is crucial to decipher whether there exists implied consent of the third party to be bound by the arbitration agreement....

12 January

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Pre-Packaged Insolvency Resolution Process – The JOURNEY thus far

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PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS

Ms.Chinna Aswathy Abraham Associate, Litigation & Arbitration Practice Business rescue is commonly achieved by sale of the company’s assets while keeping it a going concern, in an attempt to generate more value, as opposed to selling the assets in piecemeal. This is precisely what a pre-packaged insolvency resolution mechanism seeks to achieve. In a pre-pack, “a troubled company and its creditors negotiate an agreement prior to statutory administration procedures, which allows these statutory procedures to be carried out at greater speed.”(1) “It is commonly seen as a hybrid method of corporate rescue, as it combines the advantages of private restructuring with some...

01 October

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Modified Universalism And The Interplay Of The UNCITRAL Model Law & The New York Convention

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Modified Universalism And The Interplay Of The UNCITRAL Model Law & The New York Convention

The Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1)also known as the ‘New York Arbitration Convention’ was adopted with the aim of harmonising the process for the recognition and enforcement of foreign arbitral awards and for referral by a court to arbitration. However, in spite of its large scale success, the harmonization process has not been completed, because various jurisdictions apply and interpret the New York Convention differently....

arbitration Tag

BINDING THIRD PARTIES TO ARBITRATION – THE NEW NORM?

Pre-Packaged Insolvency Resolution Process – The JOURNEY thus far

Modified Universalism And The Interplay Of The UNCITRAL Model Law & The New York Convention

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