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Attorneys' Fees Agonistes: The Implications Of Inconsistency In The Awarding Of Fees And Costs In International Arbitrations, John Y. Gotanda
Attorneys' Fees Agonistes: The Implications Of Inconsistency In The Awarding Of Fees And Costs In International Arbitrations, John Y. Gotanda
Working Paper Series
The awarding of arbitration costs and attorneys’ fees in international arbitrations is often arbitrary and unpredictable. In one recent investment arbitration where the tribunal deciding a case under the auspices of the international Centre for the Settlement of Investment Disputes (ICSID) had broad discretion to award costs and fees, the tribunal allocated arbitration costs evenly amongst the claimant and respondent and required each party to bear its own fees and expenses, even though the claimant prevailed. In another case where the claimant was successful on its substantive claim, the ICSID tribunal ordered the respondent to pay the claimant US$6 million …
Interest As Damages, John Y. Gotanda, Thierry J. Sénéchal
Interest As Damages, John Y. Gotanda, Thierry J. Sénéchal
Working Paper Series
In this article, we posit that when arbitral tribunals decide international disputes, they typically fail to fully compensate claimants for the loss of the use of their money. This failure occurs because they do not acknowledge that businesses typically invest in opportunities that pose a significantly greater risk than the risk reflected in such commonly used standards as U.S. T-bills and LIBOR rates. Claimants also must share the blame when they do not set out a well-constructed claim for interest as damages. However, even when claimants do so, tribunals often award damages at a statutory rate or at rate reflecting …