A review of the past year's most noteworthy developments in international arbitration in United Arab Emirates, including key decisions and legislative changes.
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On March 23, 2021, the Paris Court of Appeal issued a decision with important ramifications for investors pursuing arbitration under the Agreement for the Promotion, Protection and Guarantee of Investments Among Member States of the Organisation of the Islamic Conference (“
OIC Agreement” or “
Agreement”).
1 Such investors often confront difficulty at the outset of the arbitral proceedings in constituting a tribunal under the OIC Agreement because of a double failure: the failure of the respondent state to appoint a co-arbitrator, and the failure of the Secretary General of the OIC to exercise his authority under Article 17(2)(b) of the OIC Agreement to make the appointment in lieu of the respondent state.