Investment Treaty Update - Watson, Farley & Williams

observed that equally, there was no provision imposing ageneral rule of transparency in any of those sources.Procedural Integrity and Non-exacerbationIt is now settled both in treaty arbitration and in internationalcommercial arbitration generally that arbitral tribunals areentitled to direct the parties not to take any steps that mightharm or prejudice the integrity of the proceedings orexacerbate the dispute. This is reflected, for instance, in Article17 of the recently revised UNCITRAL Model Law. Proceduralintegrity and non-aggravation of disputes embrace a widerange of concepts and aims. These include preserving thetribunal’s mandate to determine the dispute, ensuring a levelplaying field, minimising the scope for external pressure on anyparty, and avoiding trial by media. The tribunal stressed,however, that the procedural integrity and non-aggravation ofdispute interests may only allow for temporary restrictions ontransparency, most of which will cease to apply once thearbitration comes to an end.Other News…■■■The Washington Convention entered into force in Pakistan on8 November following the Government of Pakistan’spromulgation of the Arbitration International InvestmentDisputes Ordinance 2006, which granted jurisdiction to theHigh Courts in Pakistan for anyone wanting to enforce anaward. While Pakistan signed the convention in 1965 andratified it in 1966, it was not previously implemented intoPakistan’s domestic law and as a result had no effect. Thenews fulfils Pakistan’s international obligations under theWashington Convention.Pakistan has also been unanimously invited by the EnergyCharter Conference to become the 53rd member of theEnergy Charter, opening the way for Pakistan to accede tothe 1994 Energy Charter Treaty. Pakistan will legally becomea party to the Energy Charter Treaty and member of theEnergy Charter Conference 90 days after the receipt ofnotification that Pakistan has completed its own proceduresfor accession and ratification.MIGA (The Multilateral Investment Guarantee Agency) haslaunched its new political risk insurance website. The newwebsite offers users a searchable database of web-baseddocuments on political risk environments; legal issuesrelated to arbitration, mediation and other investmentdispute resolution and prevention mechanisms; researchfindings and analyses of political risk issues and theirrelationship to foreign direct investment; as well asspecialised tools for practitioners.Click here for MIGA's new websiteIf you wish to discuss any of the contents of this Update,please do not hesitate to speak to your usual contact atWatson, Farley & Williams or one of the people listed below:David Kavanaghdkavanagh@wfw.com+44 (0) 207 814 8000Olga Baglayobaglay@wfw.com+44 (0) 207 814 800Raja Boserajabose@wfw.com+(65) 6532 5335Peter Flintpflint@wfw.com+44(0) 207 814 8000David Fosterdfoster@wfw.com+44 (0) 207 814 8000Andrew Hutcheonahutcheon@wfw.com+44 (0) 207 814 8000Andrew Savageasavage@wfw.com+44 (0) 207 814 8000Watson, Farley & Williams15 Appold StreetLondon EC2A 2HBTel: +44 (0) 207 814 8000Fax: +44 (0) 207 814 8141/2www.wfw.comWATSON, FARLEY & WILLIAMS LONDON ATHENS PARIS NEW YORK SINGAPORE BANGKOK ROME HAMBURGAll references to ‘Watson, Farley & Williams’ and ‘the firm’ in this brochure mean Watson, Farley & Williams LLP and/or its affiliated undertakings. Any reference to a 'partner' means a member of Watson, Farley &Williams LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification.This brochure is produced by Watson, Farley & Williams. It provides a summary of the legal issues, but is not intended to give specific legal advice. The situations described may not apply to your circumstances. Ifyou require advice or have questions or comments on its subject, please speak to your usual contact at Watson, Farley & Williams.