On 6 September 2023, 2023 China Arbitration Summit and the 3rd Belt and Road Arbitration Institutions Forum (“Summit”) was successfully held in Beijing. The Summit was co-hosted by China International Economic and Trade Arbitration Commission (“CIETAC”) and United Nations Commission on International Trade Law (“UNCITRAL”). Yu Jianlong, Vice Chairman of China Council for the Promotion of International Trade (“CCPIT”) and Vice Chairman of China Chamber of International Commerce (“CCOIC”), Anna Joubin-Bret, Secretary of UNCITRAL, Liu Guixiang, Permanent Member of the Supreme People’s Court (“SPC”)’s Judicial Committee (Vice-Minister Level) and Grand Justice of the Second Rank, attended the opening ceremony and delivered opening remarks. Wang Zhenjiang, Vice Minister of the Ministry of Justice (“MOJ”), delivered a speech via video. Zhang Shuming, Deputy Chief Judge of the Fourth Civil Division of the SPC, gave a keynote speech. Sun Chunying, First-Level Insp
The Supreme Court recently had to assess, with regard to a decision on costs, whether the respondents' fee agreement with their representatives was void as a contingency fee arrangement, violating the prohibition of <i>quota litis</i> pursuant to section 879(2) No. 2 of the Austrian General Civil Code. The Court also examined whether this amounted to a reason to set aside an arbitral award. The Court took this as an opportunity to express its opinion on the admissibility of third-party funding under Austrian law.