Third party funding in international arbitration with litigation. TPF is no exception. 5 Similar ... more Third party funding in international arbitration with litigation. TPF is no exception. 5 Similar to its "public cousin," 6 litigation, international arbitration exacts, particularly in complex disputes, considerable monetary costs. These costs may benefit the party with better financial resources, rather than considering the merits of the dispute. 7 Given how expensive the process is, 8 many proposals have been introduced to aid in saving time and costs of arbitration. 9 TPF enables the less funded party to survive its war against the better funded one. 10 Simply, TPF introduces an irrelevant party, with no prior interest in the dispute, who offers financial services to help the 5
On June 1, 2018, the heirs of the late Sheikhs Abdullah Al-Solaiman AlHamdan and Khalid Abu Al-Wa... more On June 1, 2018, the heirs of the late Sheikhs Abdullah Al-Solaiman AlHamdan and Khalid Abu Al-Waleed Al-Oarqani ( Claimants ) petitioned to confirm and enforce an $18 billion arbitral award against Chevron entities before the Northern District of California and the Southern District of Texas. The award was issued under the auspices of the illegitimate International Arbitration Centre ( IAC ) in Cairo, Egypt. The dispute involved a decades-old concession agreement in which the Saudi government permitted Chevron\u27s predecessor, the Standard Oil Company of California ( SoCal ), to develop certain Saudi oil fields. Both enforcement petitions were dismissed
corporating environmental concerns in foreign investments activities is consistent with internati... more corporating environmental concerns in foreign investments activities is consistent with international environmental commitments by MultiNational Enterprises ("MNEs") as well as developed and developing nations alike. 31 Principles of Environmental Protection Generally, human activities cause serious environmental problems. 32 Environmental protection addresses, among other issues, the sustainable use of natural resources as well as human, animal, and plant health. 33 For example, MNEs often invest in developing countries where they can make profits without compliance to strict regulatory standards that are applied in their home states. 34 The term "environment" is, in itself, neutral. Texts that talk about the right to environment add a qualifying term to the word "environment." International instruments, 35 and constitutional instruments 36 qualify the term "environment" by adding a standard to it. 37 The policy adopted by international environmental law emphasizes the prevention and minimization of environmental damage, rather than compensating the damage incurred. 38 The assemblage of human rights law, environmental law, and international cultural law has developed a number of erga omnes obligations that are directed towards the international community as a whole rather than to a specific state on a reciprocal basis, among which is the duty to cooperate in preserving the environment. 39 For instance, members of the international community are required to "take all necessary steps to minimize environmental damage," "to take all appropriate measures in accordance with good petroleum in
Third party funding in international arbitration with litigation. TPF is no exception. 5 Similar ... more Third party funding in international arbitration with litigation. TPF is no exception. 5 Similar to its "public cousin," 6 litigation, international arbitration exacts, particularly in complex disputes, considerable monetary costs. These costs may benefit the party with better financial resources, rather than considering the merits of the dispute. 7 Given how expensive the process is, 8 many proposals have been introduced to aid in saving time and costs of arbitration. 9 TPF enables the less funded party to survive its war against the better funded one. 10 Simply, TPF introduces an irrelevant party, with no prior interest in the dispute, who offers financial services to help the 5
On June 1, 2018, the heirs of the late Sheikhs Abdullah Al-Solaiman AlHamdan and Khalid Abu Al-Wa... more On June 1, 2018, the heirs of the late Sheikhs Abdullah Al-Solaiman AlHamdan and Khalid Abu Al-Waleed Al-Oarqani ( Claimants ) petitioned to confirm and enforce an $18 billion arbitral award against Chevron entities before the Northern District of California and the Southern District of Texas. The award was issued under the auspices of the illegitimate International Arbitration Centre ( IAC ) in Cairo, Egypt. The dispute involved a decades-old concession agreement in which the Saudi government permitted Chevron\u27s predecessor, the Standard Oil Company of California ( SoCal ), to develop certain Saudi oil fields. Both enforcement petitions were dismissed
corporating environmental concerns in foreign investments activities is consistent with internati... more corporating environmental concerns in foreign investments activities is consistent with international environmental commitments by MultiNational Enterprises ("MNEs") as well as developed and developing nations alike. 31 Principles of Environmental Protection Generally, human activities cause serious environmental problems. 32 Environmental protection addresses, among other issues, the sustainable use of natural resources as well as human, animal, and plant health. 33 For example, MNEs often invest in developing countries where they can make profits without compliance to strict regulatory standards that are applied in their home states. 34 The term "environment" is, in itself, neutral. Texts that talk about the right to environment add a qualifying term to the word "environment." International instruments, 35 and constitutional instruments 36 qualify the term "environment" by adding a standard to it. 37 The policy adopted by international environmental law emphasizes the prevention and minimization of environmental damage, rather than compensating the damage incurred. 38 The assemblage of human rights law, environmental law, and international cultural law has developed a number of erga omnes obligations that are directed towards the international community as a whole rather than to a specific state on a reciprocal basis, among which is the duty to cooperate in preserving the environment. 39 For instance, members of the international community are required to "take all necessary steps to minimize environmental damage," "to take all appropriate measures in accordance with good petroleum in
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