Investment treaties provide a way for investors to mitigate sovereign risk problems, including those arising from changing regulatory frameworks. Companies investing in Africa may be able to structure their investment to take advantage of the protections provided by over 400 bilateral investment treaties which African countries have entered into with developed countries. For example, Egypt has entered into over 100 investment treaties, with both developed and developing countries, while Nigeria has entered into more than 20 such treaties, including with France, Germany, the Netherlands and the United Kingdom. Continue reading
Following our post on the upcoming entry into force of EU Regulation 1219/2012 we hereby offer a short summary regarding its impact on the BITs signed by Spain with third countries (i.e., excluding those BITs signed with current or upcoming EU Member States).
On 20 December 2012 the Official Journal of the EU published Regulation No. 1219/2012 of the European Parliament and of the Council of 12 December 2012 establishing transitional arrangements for bilateral investment agreements between Member States and third countries:
According to UNCITRAL’s website, São Tomé and Príncipe has deposited its instrument of accession to the New York Convention. It will enter into force for this country on 18 February 2013 (see http://www.unis.unvienna.org/unis/pressrels/2012/unisl178.html).
We would be pleased to receive more information about the procedure that led the Government to take this decision. In addition, we would welcome general comments about the impact of this accession on commercial transactions involving São Tomean parties.
*José Angel Rueda, Ph.D; associate, Uría Menéndez, Madrid; Managing Editor, Blogaila
Arbitral awards cover a range of remedies such as monetary compensation, punitive damages, specific performance and restitution, injunctions, declaratory reliefs, rectification, adaptation of contracts, interest and costs. The successful party in an arbitration proceeding expects the award to be performed without delay. However, it may happen that the beneficiary of an award has to forcefully execute it for him to enjoy the fruit of the award. Continue reading
The Organisation for the Harmonisation of Business Law in Africa (Organisation pour l’Harmonisation en Afrique du Droit des Affaires) Treaty commonly known by its French acronym as OHADA was born out of a meeting of Ministers of Finance of the CFA Franc Zone in Ouagadougou, Burkina Faso in 1991. This treaty was signed at Port Louis, Mauritius on the 17th day of October 1993. Fourteen States were the initial signatories. Two years later (1995) it came into force. Subsequently, Guinea Bissau, Guinea Conakry, and the Democratic Republic of Congo joined, bringing the total membership to seventeen (17). Continue reading