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Uncategorized

Mauritius Convention Soon to Enter into Force

On 18 October 2017, the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (the Mauritius Convention or the Convention) will enter into force. This follows Switzerland’s ratification of the Convention on 18 April 2017*.

The Mauritius Convention (which was drafted under the auspices of the United Nations Commission on International Trade Law – UNCITRAL) extends the applicability of the UNCITRAL Rules on Transparency in Treaty-based investor-State Arbitration (the UNCITRAL Transparency Rules), to investor-State arbitration proceedings conducted under an investment treaty concluded before 1 April 2014.READ MORE

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CJEU Rules on Mandatory Mediation before Court Proceedings in Consumers Claims

On 14 June 2017, the Court of Justice of the European Union (the CJEU) handed down a judgment interpreting, in light of Directive 2013/11/EU of 21 May 2013 on alternative dispute resolution for consumer disputes (Directive 2013/11/EU), the conditions under which mandatory out-of-court mediation should take place before a consumer can initiate court proceedings against a trader.READ MORE

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The Netherlands to Introduce Possibility for Damages Claims Under Class Action System

As explained in my latest contribution in Business Law International (“Fortis’s Settlement: A comparative case-study of (securities) class action mechanisms in Europe and in the United States“), the Netherlands presently offer one of the most friendly regimes in Europe for collective actions. Unlike the U.S. class action system, however, the Netherlands does not offer the possibility to obtain monetary damages under the current class action rules.

Nevertheless, a new bill (the Bill) recently put before the Dutch legislature suggests that this significant limitation could be on the way out. I therefore wanted to take this opportunity to briefly introduce you to the future changes that might be brought to the class action regime in the Netherlands.READ MORE

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European Cross-Border Debt Recovery: European Account Preservation Order Procedure Enters into Force

On 18 January 2017, Regulation 655/2014 of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters (the EAPO Regulation) entered into force.

The EAPO Regulation allows a creditor, domiciled in one Member State, to request the courts of a Member State to issue a European Account Preservation Order (the EAPO). This order preserves the funds held by a debtor in a bank account located in another Member State and prevents a debtor from jeopardising the creditor’s claim by transferring or withdrawing those funds.READ MORE

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