International Arbitration Review Ninth Edition Editor James H Carter lawreviews © 2018 Law Business Research Ltd International Arbitration Review Ninth Edition Reproduced with permission from Law Business Research Ltd This article was first published in July 2018 For further information please contact [email protected] Editor James H Carter l r aw eviews © 2018 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGERS Thomas Lee, Joel Woods ACCOUNT MANAGERS Pere Aspinall, Sophie Emberson, Laura Lynas, Jack Bagnall PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCHER Arthur Hunter EDITORIAL COORDINATOR Gavin Jordan HEAD OF PRODUCTION Adam Myers PRODUCTION EDITOR Anna Andreoli SUBEDITOR Janina Godowska CHIEF EXECUTIVE OFFICER Paul Howarth Published in the United Kingdom by Law Business Research Ltd, London 87 Lancaster Road, London, W11 1QQ, UK © 2018 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. 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Enquiries concerning editorial content should be directed to the Publisher – [email protected] ISBN 978-1-912228-40-9 Printed in Great Britain by Encompass Print Solutions, Derbyshire Tel: 0844 2480 112 © 2018 Law Business Research Ltd l r aw eviews THE ACQUISITION AND LEVERAGED FINANCE REVIEW THE ANTI-BRIBERY AND ANTI-CORRUPTION REVIEW THE ASSET MANAGEMENT REVIEW THE ASSET TRACING AND RECOVERY REVIEW THE AVIATION LAW REVIEW THE BANKING LITIGATION LAW REVIEW THE BANKING REGULATION REVIEW THE CARTELS AND LENIENCY REVIEW THE CLASS ACTIONS LAW REVIEW THE CONSUMER FINANCE LAW REVIEW THE CORPORATE GOVERNANCE REVIEW THE CORPORATE IMMIGRATION REVIEW THE DISPUTE RESOLUTION REVIEW THE DOMINANCE AND MONOPOLIES REVIEW THE EMPLOYMENT LAW REVIEW THE ENERGY REGULATION AND MARKETS REVIEW THE ENVIRONMENT AND CLIMATE CHANGE LAW REVIEW THE EXECUTIVE REMUNERATION REVIEW THE FINANCIAL TECHNOLOGY LAW REVIEW THE FOREIGN INVESTMENT REGULATION REVIEW THE FRANCHISE LAW REVIEW THE GAMBLING LAW REVIEW THE GOVERNMENT PROCUREMENT REVIEW THE HEALTHCARE LAW REVIEW THE INITIAL PUBLIC OFFERINGS LAW REVIEW THE INSOLVENCY REVIEW THE INSURANCE AND REINSURANCE LAW REVIEW THE INTELLECTUAL PROPERTY AND ANTITRUST REVIEW THE INTELLECTUAL PROPERTY REVIEW THE INTERNATIONAL ARBITRATION REVIEW THE INTERNATIONAL CAPITAL MARKETS REVIEW © 2018 Law Business Research Ltd THE INTERNATIONAL INVESTIGATIONS REVIEW THE INTERNATIONAL TRADE LAW REVIEW THE INVESTMENT TREATY ARBITRATION REVIEW THE INWARD INVESTMENT AND INTERNATIONAL TAXATION REVIEW THE ISLAMIC FINANCE AND MARKETS LAW REVIEW THE LABOUR AND EMPLOYMENT DISPUTES REVIEW THE LENDING AND SECURED FINANCE REVIEW THE LIFE SCIENCES LAW REVIEW THE MERGER CONTROL REVIEW THE MERGERS AND ACQUISITIONS REVIEW THE MINING LAW REVIEW THE OIL AND GAS LAW REVIEW THE PATENT LITIGATION LAW REVIEW THE PRIVACY, DATA PROTECTION AND CYBERSECURITY LAW REVIEW THE PRIVATE COMPETITION ENFORCEMENT REVIEW THE PRIVATE EQUITY REVIEW THE PRIVATE WEALTH AND PRIVATE CLIENT REVIEW THE PRODUCT REGULATION AND LIABILITY REVIEW THE PROJECTS AND CONSTRUCTION REVIEW THE PUBLIC COMPETITION ENFORCEMENT REVIEW THE PUBLIC–PRIVATE PARTNERSHIP LAW REVIEW THE REAL ESTATE LAW REVIEW THE REAL ESTATE M&A AND PRIVATE EQUITY REVIEW THE RESTRUCTURING REVIEW THE SECURITIES LITIGATION REVIEW THE SHAREHOLDER RIGHTS AND ACTIVISM REVIEW THE SHIPPING LAW REVIEW THE SPORTS LAW REVIEW THE TAX DISPUTES AND LITIGATION REVIEW THE TECHNOLOGY, MEDIA AND TELECOMMUNICATIONS REVIEW THE THIRD PARTY LITIGATION FUNDING LAW REVIEW THE TRADEMARKS LAW REVIEW THE TRANSFER PRICING LAW REVIEW THE TRANSPORT FINANCE LAW REVIEW © 2018 Law Business Research Ltd ACKNOWLEDGEMENTS The publisher acknowledges and thanks the following law firms for their learned assistance throughout the preparation of this book: ALI BUDIARDJO, NUGROHO, REKSODIPUTRO ALLEN & OVERY LLP ANJARWALLA & KHANNA ANWALTSBÜRO WIEBECKE AS & ASSOCIATES ATTORNEYS AT LAW RATIOLEX LTD BAKER BOTTS LLP BAKER MCKENZIE COURTENAY COYE LLP DE BERTI JACCHIA FRANCHINI FORLANI DENTONS DESIERTO AND DESIERTO DR COLIN ONG LEGAL SERVICES ERDEM & ERDEM LAW OFFICE FTI CONSULTING HERBERT SMITH FREEHILLS KIM & CHANG LEVY & SALOMÃO ADVOGADOS LINKLATERS LLP MAQS ADVOKATBYRÅ MARKIDES, MARKIDES & CO LLC MARXER & PARTNER RECHTSANWÄLTE i © 2018 Law Business Research Ltd Acknowledgements MIRANDA & AMADO, ABOGADOS MULLA & MULLA & CRAIGIE BLUNT & CAROE PROF. HILMAR RAESCHKE-KESSLER LLM RECHTSANWALT BEIM BUNDESGERICHTSHOF QUEVEDO & PONCE RAJAH & TANN SINGAPORE LLP SOFUNDE, OSAKWE, OGUNDIPE & BELGORE SRS ADVOGADOS, SOCIEDADE REBELO DE SOUSA & ADVOGADOS ASSOCIADOS, SP, RL THORNDON CHAMBERS VON WOBESER Y SIERRA, SC WILMER CUTLER PICKERING HALE AND DORR LLP WOLF THEISS YKVN ii © 2018 Law Business Research Ltd CONTENTS PREFACE .........................................................................................................................................................vii James H Carter Chapter 1 IMPACT OF CORPORATE TAXATION ON ECONOMIC LOSSES ........................1 James Nicholson and Toni Dyson Chapter 2 AFRICA OVERVIEW ..........................................................................................................9 Jean-Christophe Honlet, Liz Tout, Marie-Hélène Ludwig and Lionel Nichols Chapter 3 ASEAN OVERVIEW ..........................................................................................................20 Colin Ong QC Chapter 4 BRIBERY ALLEGATIONS IN ARBITRATION ............................................................40 Anne-Catherine Hahn Chapter 5 AUSTRIA .............................................................................................................................56 Venus Valentina Wong Chapter 6 BANGLADESH ..................................................................................................................67 Mohammad Hasan Habib Chapter 7 BELIZE ................................................................................................................................75 Eamon H Courtenay SC and Stacey N Castillo Chapter 8 BRAZIL ................................................................................................................................84 Angela Di Franco and Rafael Zabaglia Chapter 9 BULGARIA ..........................................................................................................................99 Anna Rizova-Clegg and Oleg Temnikov Chapter 10 CANADA ...........................................................................................................................109 Rachel Howie, Chloe Snider and Barbara Capes iii © 2018 Law Business Research Ltd Contents Chapter 11 CHINA...............................................................................................................................121 Keith M Brandt and Michael K H Kan Chapter 12 COLOMBIA ......................................................................................................................131 Ximena Zuleta, Paula Vejarano, Juan Camilo Fandiño, Daniel Jiménez Pastor, Álvaro Ramírez and Natalia Zuleta Chapter 13 CYPRUS .............................................................................................................................141 Alecos Markides Chapter 14 ECUADOR ........................................................................................................................151 Alejandro Ponce Martínez Chapter 15 ENGLAND AND WALES ...............................................................................................155 Duncan Speller and Tim Benham-Mirando Chapter 16 EUROPEAN UNION ......................................................................................................173 Edward Borovikov, Bogdan Evtimov and Anna Crevon-Tarassova Chapter 17 FINLAND..........................................................................................................................182 Timo Ylikantola and Tiina Ruohonen Chapter 18 FRANCE ............................................................................................................................192 Jean-Christophe Honlet, Barton Legum, Anne-Sophie Dufêtre and Annelise Lecompte Chapter 19 GERMANY ........................................................................................................................201 Hilmar Raeschke-Kessler Chapter 20 HUNGARY........................................................................................................................217 Zoltán Faludi and Enikő Lukács Chapter 21 INDIA ................................................................................................................................226 Shardul Thacker Chapter 22 INDONESIA .....................................................................................................................241 Theodoor Bakker, Sahat Siahaan and Ulyarta Naibaho Chapter 23 ITALY .................................................................................................................................250 Michelangelo Cicogna and Andrew G Paton iv © 2018 Law Business Research Ltd Contents Chapter 24 JAPAN ................................................................................................................................271 Christopher Hunt, Elaine Wong, Ben Jolley and Yosuke Homma Chapter 25 KENYA ...............................................................................................................................283 Aisha Abdallah and Mohamed Karega Chapter 26 LIECHTENSTEIN ...........................................................................................................293 Mario A König Chapter 27 MALAYSIA ........................................................................................................................304 Avinash Pradhan Chapter 28 MEXICO ...........................................................................................................................320 Adrián Magallanes Pérez and Rodrigo Barradas Muñiz Chapter 29 NETHERLANDS .............................................................................................................328 Marc Krestin and Marc Noldus Chapter 30 NEW ZEALAND ..............................................................................................................341 Derek Johnston Chapter 31 NIGERIA ...........................................................................................................................355 Babajide Ogundipe, Lateef Omoyemi Akangbe and Benita David-Akoro Chapter 32 PERU ..................................................................................................................................358 José Daniel Amado, Cristina Ferraro and Martín Chocano Chapter 33 PHILIPPINES ...................................................................................................................367 Jan Vincent S Soliven and Lenie Rocel E Rocha Chapter 34 POLAND ...........................................................................................................................378 Michał Jochemczak and Tomasz Sychowicz Chapter 35 PORTUGAL ......................................................................................................................387 José Carlos Soares Machado Chapter 36 ROMANIA ........................................................................................................................394 Tiberiu Csaki Chapter 37 RUSSIA ..............................................................................................................................406 Mikhail Ivanov and Inna Manassyan v © 2018 Law Business Research Ltd