Published on 14 Oct 2015 • England, International, Wales
Developments that may be of interest to arbitration practitioners for the week to 14 October 2015.
We report in brief below on other developments that may be of interest to arbitration practitioners:
The Swedish Supreme Court has upheld an award issued by a tribunal at the Arbitration Institute of the Stockholm Chamber of Commerce in a dispute between The Absolut Company and Systembolaget AB. In the award, the tribunal had awarded Absolut damages as a result of Systembolaget's abuse of its monopoly position in Sweden. Systembolaget's applied to set aside the award on the ground that it breached EU competition law, which the Supreme Court rejected. We will provide further analysis shortly.
The New York International Arbitration Center is collecting and cataloguing international arbitration decisions issued by New York courts. Those decisions are arranged in an online resource that includes the decision date, the stage of the case, and the main issues addressed by the court
The US Consumer Financial Protection Bureau (CFPB) published an outline of its proposals that could lead to a regulation banning financial companies from including arbitration clauses that block class actions in consumer contracts. If promulgated, the rule could apply to consumer financial products such as credit cards, checking accounts, debit cards, payday loans, prepaid cards, private student loans and auto loans.