The Supreme Court of the United Kingdom (the “Supreme Court”) has recently handed down a landmark decision in the protracted legal saga between Nigeria’s national oil corporation and one of its foreign contractors. This decision not only provides welcome guidance on the relationship between the New York Convention (the “NYC”) and English law that is of much significance to parties seeking to enforce, or resist enforcement of awards in the U.K, it also carries global significance.
The protracted African legal saga Getma v Republic of Guinea has drawn much discussion and speculation in the arbitration community recently. For good reasons. This saga has highlighted various aspects of international arbitration, including party autonomy, remuneration of the arbitral tribunal and enforcement of annulled awards, that go way beyond the borders of the African continent. Continue reading
China is Africa’s largest trading partner today. Significantly, in 2016, China invested more than USD 14 billion in Africa. Its capital investment into Africa up to July 2016 notably increased by 515% from full year 2015 figures. In addition, the number of investment projects into Africa from China has also been exponentially growing, with 36 projects recorded from January to July 2016 alone. Continue reading
Egypt is among the top 10 signatories of Bilateral Investment Treaties (“BITs”) worldwide, with a total number of over 100 BITs. It is also ranked second, after Angola, in the list of top African countries with foreign direct investment (“FDI”) growth with an increase of 49.3% of FDI inflow going from $4.6 billion in 2014 to $6.9 in 2015 (UNCTAD World Investment Report (2016)). This growth of FDI has been driven mainly by the expansion of foreign affiliates in, inter alia, the financial, pharmaceutical, energy, construction and transport industry. But despite this positive development, Egypt lost 19 places in the 2016 Doing Business report published by the World Bank ranking it 131th out of 189 countries and FDI inflows in Egypt remain well below the $11.4 billion reached in 2009. Continue reading
It is rather easy for the rights of minority shareholders to be infringed upon however minority shareholders are afforded some protection under the Companies and Allied Matters Act (CAMA) to protect their rights/interests. Continue reading
ACCESS TO JUSTICE
With the recent hikes in the filling fees and other administrative charges associated with Court proceedings and processes in Ghana as well as the upward adjustments of the Bar Scale of Fees for Lawyers, the perception that justice is the preserve of the rich seems to have gained notoriety. Litigants are made to weigh the cost benefit analysis before venturing into the area of litigation. This situation leaves prospective litigants no choice than to take solace in the proverbial words of “Fame Nyame” to wit “leave it to God”. Justice is simply expensive in Ghana to the average person. Continue reading