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CPR announces the completion and promulgation of Global Rules for Accelerated Commercial Arbitration Disputes, effective August 20, 2009. These new Rules are designed as an alternative to assist parties who might otherwise face litigation or arbitration of disputes.
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Arbitrators, writes London attorney Adam Samuel, should resist the temptation to decide points that are not necessary for the award they are issuing, and not dodge those that are. Samuel discusses why a "grand statement" should be avoided in constructing an award.
AIG, former CEO Maurice R. Greenberg, and former CFO Howard I. Smith agree to arbitrate a chunk of the claims involved in the fight over liability over accounting irregularities that led in part to a government bailout of the insurer.
A five-person arbitration panel awarded Ethiopia and Eritrea damages yesterday, ending eight years of litigation between the two countries.
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