In cooperation with the EU-Georgia Business Council, White & Case presented the seminar "Commercial Dispute Resolution in Emerging Markets: Anticipating Risks and Limiting Liability" in Tbilisi, Georgia, on 26 February 2008.  The event, which received national media coverage, was attended by over 50 participants, comprising a broad spectrum of government officials, international investors and Georgian companies. 

White & Case lawyers presented on four topics:  (1) key issues in international commercial arbitration; (2) international investment arbitration; (3) developments in Georgian law relevant to international arbitration and (4) transactional lessons from emerging market investments.

Paul Friedland (Partner, New York) discussed basic arbitration principles and selected issues in international commercial arbitration.  Mr. Friedland outlined key considerations in the selection of arbitrators and arbitral institution, as well as party recoupment of costs.  Highlighting points of particular interest to companies doing business in emerging markets, Mr. Friedland also advised on the importance of the place of arbitration.  Mr. Friedland explained, "If the law of the place of arbitration will not give effect to an arbitration agreement or the courts there are hostile to arbitration, it may be impossible to conduct an arbitration there or the ultimate award may be subject to challenge before the courts at the place of arbitration on questionable grounds." 

Charles Nairac (Partner, Paris) described the distinguishing features of dispute resolution involving investors and States.  In addition, Mr. Nairac spoke about the protections afforded to investments in Georgia through bilateral investment treaties and multilateral treaties.  Mr. Nairac reviewed key treaty provisions setting forth the scope of protection and required treatment of investments, and the relevant legal standards typically applied in investment treaty arbitrations.  

Sara Lulo (Associate, London) described developments in Georgian law relevant to international arbitration.  In particular, Ms. Lulo discussed Georgia’s national arbitration law and proposed amendments thereto, as well as Georgia’s participation in the international treaty framework.

Villiers Terblanche (Partner, Abu Dhabi) contributed a transactional perspective focused on infrastructure project finance deals in emerging markets.  Mr. Terblanche advised on how parties can limit, at the contract negotiation stage, a party’s exposure to liability.  Mr. Terblanche suggested factors that parties should consider in relation to, among other things, project revenue stream allocation, termination provisions, site acquisition, operation and maintenance agreements and force majeure.

The White & Case International Disputes Quarterly is prepared for the general information of our clients and other interested persons. It should not be acted upon in any specific situation without appropriate legal advice.

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© 2008 White & Case LLP