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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
Launch of the Bahrain International Commercial Court
The Bahrain International Commercial Court (BICC) was launched on 5 November 2025. It joins the long established Dubai International Financial Centre Courts, Abu Dhabi Global Market Courts and Qatar International Court and Dispute Resolution Centre in the Middle East as a specialist court devoted to resolving international commercial disputes and operating under special procedural rules.
The BICC was developed in partnership with the Singapore International Commercial Court (SICC). It shares many key features with the SICC such as a multinational bench, foreign counsel representation and use of the English language in proceedings. Of particular note is the appeal mechanism for BICC judgments; as discussed previously here, appeals from the BICC will be heard by the International Committee of the SICC.
ASADIP Conference Rio 2025 (report) and San Salvador 2026 date (20-23 October)
The ASADIP conference is an annual highlight of the discipline. The reports from the 2025 conference in Rio de Janeiro are now available, in English, Spanish, and Portuguese, here
And the location and date for the 2026 have been set for San Salvador, El Salvador, 20-23 October. See you there.
Short report: Conference on Sustainable Global Value Chains and Private International Law
On 17 October 2025, the EBS Law School in Oestrich-Winkel, Germany, hosted a conference Sustainable Global Value Chains and Private International Law. The conference was organised by Professors Veronica Ruiz Abou-Nigm (Edinburgh Law School) and Michael Nietsch (EBS Law School) as part of the Law Schools Global League Sustainable Global Value Chains Project (see also here).
The conference brought together a number of scholars specialised in private international law, company law, and contract law to discuss the role of private law and private international law in social, economic, and environmental sustainability within global value chains.
Keynote
Ralf Michaels (Max Planck Institute for Comparative and International Private Law, Hamburg, Germany) delivered the keynote lecture entitled “European Law for Global Value Chains – Human Rights Advancement or European Imperialism?” Professor Michaels addressed this question from a historical perspective. He related the historical roots of existing sourcing practices to contemporary supply chains, drawing on a wealth of theoretical insights. He further reflected on the conceptualisations that remain necessary for the legal discipline to contribute to addressing economic inequalities in contemporary global sourcing practices facilitated by interconnected chains of contracts.
After the keynote, several scholars provided insights into their current research, which resonated with various aspects of the keynote lecture. Read more