By Wu Wei, Zhu Yuanyuan King & Wood Mallesons’ Dispute Resolution group
On May 14th and 15th, the Belt and Road Forum for International Cooperation was held in Beijing, which once again put the city at the centre of global attention.
China is a founding member of the Belt and Road (“B&R”). It already has more than 80 SOEs setting up branches in countries along the B&R and 47 SOE’s participating in 1676 construction projects. The B&R presents both opportunities and challenges to Chinese enterprises. Chinese firms will need to meet high standards to avoid breachi… More…/更多
By Wu Wei, Liu Ting, Zhu Yuanyuan King & Wood Mallesons’ Dispute Resolution group
Multilateral development banks, such as the World Bank, enforce strict compliance procedures for their borrowers, along with regulations on investigations and sanctions for non-compliance. Being blacklisted by these banks has significant negative consequences (please refer to the related articles Participating in the Belt and Road Initiative, Protected from Overseas Compliance Risks, Joining the AIIB Projects—What You Must Know about Affiliated Debarment and Cross-Debarment). … More…/更多
By Dorothy Murray and Edmund Northcott King & Wood Mallesons’ London office.
As more jurisdictions permit third party funding of international arbitration, the question of whether details of the funding must be disclosed arises ever more frequently.
Concerns to date focus on conflicts (ensuring that the identity of the funder poses no challenge to the independence and impartiality of the tribunal) and the ability of a respondent to apply for security for costs. The Tribunal in the case of Muhammet Cap v. Turkmenistan, was motivated by these concerns when requiring the C… More…/更多