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About This Document: It does not require a rocket scientist to understand the continuing effects of the global financial crises facing businesses across the world, including the Middle East. The unwillingness of banks to lend because of liquidity problems has had devastating consequences not just for trading concerns generally, but also for governments. This in turn has led to an increasing number of cancelled projects, employment redundancies, and government payment defaults, among other problems. It can be safely assumed that all Arab governments will seek to defend any claims brought against them. Any Arab government that decides it is appropriate to cancel or suspend any contracts, or withdraw concessions, or cancel any licenses, will undoubtedly seek to rely on local judicial orders. However, that does not necessarily end the matter because an arbitration can be commenced by a disgruntled foreign investor before an appropriate independent arbitration tribunal (e.g., as authorized by a BIT), which will not be bound by the judicial order.

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The Future of Arbitration and Dispute Resolution in the Current Middle Eastern Crisis

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I N T E R N AT I O N A L

The Future of Arbitration and

Dispute Resolution in the Current

Middle Eastern Crisis

BY ESSAM AL TAMIMI

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