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An Answer to the Billion-Dollar Choice-of-Law Question
On February 20, 2024, the New York Court of Appeals handed down its opinion in Petróleos de Venezuela S.A. v. MUFG Union Bank, N.A. The issue presented—which I described in a previous post as the billion-dollar choice-of-law question—was whether a court sitting in New York should apply the law of New York or the law of Venezuela to determine the validity of certain bonds issued by a state-owned oil company in Venezuela. The bondholders, represented by MUFG Union Bank, argued for New York law. The oil company, Petróleos de Venezuela, S.A. (“PDVSA”), argued for Venezuelan law.
In a victory for PDVSA, the New York Court of Appeals unanimously held that the validity of the bonds was governed by the law of Venezuela. It then sent the case back to the federal courts to determine whether the bonds are, in fact, invalid under Venezuelan law.
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New EU Digitalisation Regulation: A Stepping Stone to Digitalised EU?
Author: Martina Ticic, assistant at the University of Rijeka, Faculty of Law and doctoral student funded by the Croatian Science Foundation (Hrvatska zaklada za znanost – HRZZ)
On 13 December 2023, two years after the first legislative proposal has been published, the new Regulation (EU) 2023/2844 of the European
Parliament and of the Council of 13 December 2023 on the digitalisation of judicial cooperation and access to justice in cross-border civil, commercial and criminal matters, and amending certain acts in the field of judicial cooperation (Digitalisation Regulation) has been adopted. While the process of digitalisation of judicial cooperation and cross-border procedures in the EU has been ongoing for some time already, the new Digitalisation Regulation represents a major step for advancing digitalisation practices in the EU.
Bahraini High Court on Choice of Court and Choice of Law Agreements
I. Introduction
It is widely recognized that choice of court and choice of law agreements are powerful tools for structuring and planning international dispute resolution. These agreements play an important role in “increasing legal certainty for the parties in cross-border transactions and reducing incentives for (the harmful version of) forum shopping.” (Alex Mills, Party Autonomy in Private International Law (CUP, 2018) p. 75). However, the realization of these objectives depends on the enforcement of the parties’ choice. Unfortunately, general practice in the MENA (North Africa and the Middle East) region shows that, with a few exceptions, the status quo is far from satisfactory. Choice-of-court agreements conferring jurisdiction on foreign courts are often disregarded or declared null and void. Similarly, the foreign law chosen as the governing law of a contract is often not applied because of the procedural status of foreign law as a matter of fact, the content of which must be ascertained by the party invoking its application. The recent judgment of the High Court of Bahrain (a first instance court in the Bahraini judicial system) in the Case No. 2/13276/2023/02 of 17 January 2024 is nothing but another example of this entrenched practice that can be observed in the vast majority of countries in the region.
News
ZVglRWiss – Zeitschrift für Vergleichende Rechtswissenschaft 3/2025
ZVglRWiss – Zeitschrift für Vergleichende Rechtswissenschaft 3/2025
A new issue of ZVglRWiss – Zeitschrift für Vergleichende Rechtswissenschaft is now available and includes contributions on EU private law, comparative law, private international law, and individual European private law regimes.
The full table of content can be accessed here.
The EAPIL Winter School 2026: Values in Private International Law
As has become tradition, the European Association of Private International Law (EAPIL) will be hosting a Winter School in Como, from 2 to 6 February 2026. The general topic of the upcoming edition is Values in Private International Law.
The teaching staff will consist of Laura Carpaneto (University of Genoa), Javier Carrascosa González (University of Murcia), Maria Asunción Cebrian Salvat (University of Murcia), Gilles Cuniberti (EAPIL President, University of Luxembourg), Sara De Vido (Ca’ Foscari University of Venice), Stefano Dominelli (University of Genova), Cristina González Beilfuss (University of Barcelona), Thomas Kadner Graziano (University of Geneva), Eva Maria Kieninger (University of Würzburg), Silvia Marino (University of Insubria and coordinator of the Winter School), Johan Meeusen (University of Antwerp), Nadia Rusinova (The Hague University, Attorney at law), Veronica Ruiz Abou-Nigm (University of Edinburgh), Erik Sinander (Stockholm University), Sara Tonolo (University of Padua), Geert van Calster (KU Leuven), Hans van Loon (HCCH Former Secretary General), and Anna Wysocka-Bar (Jagiellonian University in Kraków).
The University of Insubria will host the 2026 edition, as it did in 2024 and 2025 (see here and here), in cooperation with University of Murcia and the Jagiellonian University in Kraków.
Those interested in attending the Winter School must apply by 20 January 2026 by completing the online form available here.
More information is available here.
New Volume of the Japan Commercial Arbitration Journal – Vol. 6 [2025]
The Japan Commercial Arbitration Association (JCAA), one of the oldest international arbitration institutions in the world founded in 1950, has published the 6th Volume of its annual journal on commercial arbitration: Japan Commercial Arbitration Journal.
The journal features articles on international commercial arbitration, mediation, and litigation related to Japan. These articles are authored by prominent scholars and experienced practitioners who are well-versed in the resolution and prevention of international commercial disputes.
The Japan Commercial Arbitration Journal is particularly valuable for non-Japanese readers, including foreign researchers and practitioners, as it provides insights into Japan’s approach to international dispute resolution. By offering comprehensive analysis and updates on arbitration, mediation and litigation practices in Japan, the journal helps bridge the knowledge gap for those working in international commercial law. Access to this information is essential for professionals seeking to understand the nuances of Japanese legal procedures and effectively engage with Japan in cross-border commercial matters. Read more