International Arbitration in Latin America - WAMR 2006 Vol. 17, No. 3
Author(s):
Nigel A. Blackaby
Sylvia Noury
Page Count:
18 pages
Media Description:
PDF from World Arbitration and Mediation Report (WAMR) 2006 Vol. 17, No. 3
Published:
March, 2006
Jurisdictions:
Practice Areas:
Author Detail:
Nigel Blackaby, Freshfields Bruckhaus Deringer
Sylvia Noury, Freshfields Bruckhaus Deringer
Description:
Originally from: World Arbitration and Mediation Report (WAMR)
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INTERNATIONAL ARBITRATION IN LATIN AMERICA
by
Nigel Blackaby & Sylvia Noury
Freshfields Bruckhaus Deringer
[Excerpted with permission from the Latin Law Review (2005)]
Latin America continues to be a challenging region for
international arbitration practitioners. On the positive side, it now boasts a
full house of New York Arbitration Convention ratifications (with
Nicaragua the last member to join the club) and Chile has finally shaken
off its antiquated arbitration system in favor of an effective new law based
on the UNCITRAL Model Law on arbitration. Unfortunately, a similar
project in Colombia was shelved after it became embroiled in party
politics and Argentina's draft law remains frozen as the result of a
backlash of anti-arbitration sentiment following the unprecedented number
of ICSID arbitrations brought against the State.
The judiciaries in general continue to support arbitration and
uphold the States’ international obligations under the New York
Arbitration Convention. There have been, however, a few worrying
decisions in the last two years that suggest that some judges remain wary
of what they see as a competing parallel jurisdiction.