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İstanbul Conference On International Dispute Resolution A Global Perspective
İstanbul Conference On International Dispute Resolution A Global Perspective
Nuray EKŞİ / Turgut KALPSÜZ / Müslüm YILMAZ
Sayfa Sayısı
:
190
Kitap Ölçüleri
:
16x23 cm
Basım Yılı
:
2008
ISBN NO
:
9789752959316
500,00
TL
PREFACE
Turkey enjoys a privileged historical, juridic, and geographical posture that suggests that it rightfully should be a leader in any effort contemplating the fashioning of a judicial culture premised upon a confluence of legal tra-ditions. As of the date of this writing, the Ministry of Justice has made clear Turkey′s commitment to international commercial arbitration as both an instrumentality of that sovereign′s development and a reassurance published to the world of prospective investors in Turkey as a host-state that its judici-ary has placed international commercial arbitration in pari materia with judicial recourse. This embracing and promotion of international commercial arbitration has been undertaken by clearly understanding that there is a need to build a judicial rubric on the traditional ius çivile and the ius gentium europeam so as to give rise to, as an ultimate expression of a judicial voice, a ius mundis or, put simply, a global law.
International commercial arbitration is but a temporizing measure, per-haps unbeknovrast to its vast constituency in the world of commerce, law, and the academy, that is serving as a historical temporal bridge until such time as transnational courts of civil procedure vested with authority to adjudicate private disputes arising from cross-border controversy, or the courts of "superestates", such as perhaps the European Court of Justice with respect to the European Union are capable of exercising jurisdiction över such con-flicts. Indeed, here international commercial arbitration, whether in the con-text of free trade agreements or ICSID, shall serve as the fertile petri dish for the right proportions of different legal systems that ultimately shall create a confluence of legal cultures capable of satisfying the well reasoned expecta-tions of parties to an arbitral proceeding. Moreover, the transfer of dispute resolution from the public to the private arena also constitutes a gradual exercise in the ceding of sovereignty pursuant to the reallocation of dispute resolution together with a new role for the judiciary as subservient to arbi-trations. This new space for judicial activism, which admittedly is confining in nature, represents a first step in the demişe of traditional paradigms of sovereignty, the modern state, and nationhood.
The rise in the number of international commercial disputes caused by the seemingly inexorable expansion of international trade and investments has brought about the need for alternative means of dispute resolution to supplement or replace the dispute resolution provided by state courts. International commercial arbitration is considered to be the mechanism that best meets the needs of the business community with regard to the resolution of disputes involving international trade and investments. The degree of free-donı provided to the parties to such disputes to select institutions or appoint individuals required to resolve disputes, and to choose the venue and the lan-guage of the proceedings and the substantive and the procedural rules to be applied are among the key factors that render international commercial arbitration an indispensable method of dispute resolution. The potentially rela-tively short amount of time needed for the completion of arbitral proceedings, the possibility of having individuals with the necessary and appropriate tech-nical expertise serve on arbitral tribunals, the lack of confidence towards state courts, particularly in disputes involving states, are also important factors promoting the use of arbitral proceedings.
Because arbitration is generally viewed as an appropriate mechanism that provides a speedy and satisfactory resolution to international commercial disputes, many states endeavor to create an arbitration-friendly legal environment in order to attract arbitral proceedings dealing with international commercial disputes. The creation of such a suitable legal environment is, therefore, critical in today′s world.
This book, which is the fruit of istanbul Conference on International Dispute Resolution: a Global Perspective organized by Prof. Dr. Nuray Ekşi under the auspices of istanbul Chamber ofCommerce on 15 November 2007, contains surveys of domestic legislation applicable to international commercial arbitration as adopted by many countries, including Austria, Brazil, Canada, Turkey and the United States. These national surveys mainly focus on international aspects of commercial arbitration in the authors′ respective countries. However, these surveys also deal with the legal framework of domestic arbitrations as well. in addition to articles that describe the rules and procedures regarding international commercial arbitration in different jurisdictions, this book also contains a brief survey of the Energy Charter Treaty, and segments that deal respectively with enforcement of arbitral awards, and dispute settlement at the World Trade Organization ("WTO").
Certainly, it would be less than comprehensive and, therefore, far from perfect, to preface this text without explicitly referencing one of Turkey′s most valuable and prodigious natural resources in the realm of jurispru-dence: Professor Dr. Nuray Eksi. Professor Dr. Eksi brought together in time
and space, in a single room but with diverse voices, ali of the contributors to this project from such diverse nationalities. The conceptual and logistical management of this task were daunting indeed. Professor Dr. Eksfs vision in the discipline of international dispute resolution and peerless academic accomplishments appear to make possible that which seems endemically impossible. The gathering of these diverse jurists from foreign lands is an example of such an accomplishment.
Pedro J. MARTINEZ-FRAGA*
^
*v
Pedro J. Martinez-Fraga is the coordinator of the International Dispute Resolution Practice Group as to Latin America and Florida, of the law firnı of Squire, Sanders and Dempsey L.L.P., and President of the Global Dispute Resolution Center of the Maiestas Foundation. He is also a full visiting professor of the University of Navarra in Pamplona, Spain, and an adjunct professor of law at the University of Miami School of Law. He has authored four books on private procedural international law and över fifty peer-reviewed articles on this subject.
ACKNOWLEDGEMENT
There would be no "istanbul Conference on International Dispute Resolution A Global Perspective" without the sponsorship and assistance of the istanbul Chamber of Commerce (ICOC). We are grateful for the help the ICOC has furnished. We are also grateful to our Minister of Justice, His Excellency, Mehmet Ali Şahin for the opening speech of the conference, and the personnel of the Ministry of Justice for their presence in the Conference. We also thank to the Foundation of Turkish Insurance Institution and the Associate Prof. Dr. Suna Özyüksel Oksay who is the Director of the Foundation for providing partial financial support for our cost.
We would like to express here our profound appreciation to each of the authors who contributed articles for this book and used their substantial expertise to prepare such useful and informative works on various issues of arbitration. Thanks to their professional skills and hard work this book is now ready to be offered to those who seek information on arbitration as prac-ticed in many countries around the world.
Challenges in publication of the conference documents were faded away by Mr. Seyhan Satar, the owner of Beta Publisher. We would like to express here our thanks to Mr. Seyhan Satar who hoşt the publication of the books and Miss Gülgonca Çarpık who designed the book.
The objectives of this joint project will be met if the resulting product responds in some measure to some of the needs of practitioners and researchers around the world who are involved in the fascinating field of international commercial arbitration.
^
Prof. Dr. Nuray EKŞİ Prof. Dr. Turgut KALPSÜZ Dr. Müslüm YILMAZ
CONTENTS
Preface 3
Acknowledgement 7
Abbreviations 15
Conference Programme 17
Opening Speeches 21
Opening Speech by Şaban DİŞLİ 21
Member of the Board of Directors of the istanbul Chamber of Commerce
Opening Speech by Mehmet Ali ŞAHİN. 24
Minister of Justice
SESSION I
A NATIONAL SURVEY ON INTERNATIONAL COMMERCIAL ARBITRATION
Chairman: Prof. Dr. Turgut KALPSÜZ
ICC Turkish National Committee Chairman of the Working Group on International Arbitration
Prof. Dr. Turgut KALPSÜZ
(Chairman) 29
Dr. Rabih Ali NASSER
Recent Developments in Arbitration in Brazil 31
I. Introduction 31
II. Legal Uncertainty 32
III. The Milestones 34
1. The Implementation of a New and Friendly Legislation 34
2. Pro-arbitration Case Law 37
IV. Fast-growing Use of Commercial Arbitration 40
V. Conclusion 41
10
Professor Frederic BACHAND
A Canadian Perspective on Controversial International Arbitration Issues
.41
SESSION II
SPECIFIC ISSUES ON INTERNATIONAL COMMERCIAL ARBİTRATİON
Chairman: Prof. Dr. Ünal TEKINALP
Chairman, Commission for the Draft Turkish Commercial Code
Prof. Dr. Ünal TEKİNALP
(Chairman) 57
Hon. Prof. Dr. Andreas REINER
Impact on Awards Rendered When an Arbitrator′s
Lack of Independence and/or Impartiality or Failure to
Comply with His/Her Disclosure Obligations is Discovered
Ex Post 59
I. Introduction 59
II. A Comparative Overview 64
1. USA 64
2. Austria 65
3. Germany 66
4. Switzerland 67
5. France 67
6. Turkey 68
III. Search for the Best Uniform Approach 69
A. A Complete Denial of a Remedy would be Unacceptable 69
B. Specific Requirements for Challenging the Avvard and/or
for Refusing Enforcement? 69
1. Should the Award be Set Aside and should
Enforcement be Refused 69
2. Is it Necessary that the Lack of Independence Actually
(or most likely) had an Impact on the Outcome of the
Case? 71
3. Is it Relevant Whether the Arbitrator Knew, should have
Known or did not Know of the Conflict of Interest? 72
4. Are there/should there be Any Time Limitations to the
Challenge of the Award/to the Resistance to Enforcement? ...73
11
5. What are the Specific Grounds a Party can Rely upon
for Challenging the Award/for Resisting Enforcement? 74
C. Issues of liability 77
IV. Conclusion 78
Prof. Dr. Ünal TEKİNALP
(Chairman) 78
Adjunct Prof. Pedro MARTINEZ-FRAGA
The Institution of Arbitration and U.S. Institutional
Arbitration: The Development of a De Facto Adjudicative
System without Sovereign, Courts, or Legislators 79
I. Spectator and Spectacle: Arbitration as Perceived at Its
Inception in the United States 80
A. The Current Historical Moment 80
B. The UK Legacy Engrafted Upon the American
Perception of Arbitration 84
C. American Vintage Misperceptions 87
II. The Vertical and Horizontal Proliferation of Arbitration as
an Institution in the United States 95
III. The Kelsian Paradigm and the New Lex Mercatoria 101
IV. Conclusion 102
SESSION III
ENFORCEMENT OF FOREIGN ARBITRALAWARDS Chairman: Prof. Dr. Ergin NOMER
University of Kadir Has, School of Law, Director of PİL Department
Prof. Dr. Ergin NOMER
(Chairman) 104
Adjunct Prof. C. Ryan REETZ
Enforcing and Challenging Arbitral
Awards in the United States 105
I. Introduction 105
II. The Statutory and Treaty Framework for Enforcing Avvards 107
III. Review of "Domestic" and "International" Arbitration Avvards 109
IV Treatment of Foreign Awards That Have Been Set
Aside in the Rendering Jurisdiction 110
-vv
■^v
\
12
V. Enforcement of Agreements to Vary the Standard of Review 112
VI. Enforcement of Interim and Partial Awards 114
VII. Enforcement Applications and the Doctrine of
Forum Non Conveniens 115
VlII.Conclusion 117
Prof. Dr. Ergin NOMER
(Chairman) 117
Prof. Dr. Nuray EKŞİ
Evaluation of the Precedents of the Turkish Court of
Cassation Concerning Certain Problems for the
Enforcement of Foreign Arbitral Awards under the
New York Convention 118
I. Legal Framework for the Enforcement of Foreign Arbitral
Awards in Turkey 118
II. Current Problems Regarding the Enforcement of Foreign
Arbitral Awards under the New York Convention in the
Precedents of the Court of Cassation 122
1. The Inconsistency of the Arbitral Avvard with Public
Policy and Public Morality 122
2. Whether a General Reference to Turkish Law by the
Parties Covers Both Substantive Law and Procedural Law 129
3. Lack of Power of Representative 134
4. Lack of Proper Service 142
5. The Subject Matter of the Dispute Not Capable of
Settlement by Arbitration under Turkish Law 145
SESSION IV
SETTLEMENT OF INVESTMENT AND WTO DISPUTES Chairman: Prof. Dr. Martin SCHAUER
University of Vienna, Civil Law Institute
Prof. Dr. Martin SCHAUER
(Chairman) 151
Domenico Di PIETRO
The Energy Charter Treaty an Overview 152
I. Introduction 152
13
II. The Investment Chapter of the Energy Charter Treaty 154
III. Overview of the Treaty′s Investment Provisions 155
1. The definition of Investment 155
2. General Treatment of Foreign Investors 156
3. Non-Discrimination 157
4. Expropriation 157
5. Damages Related to Political Instability 158
6. Transfer of Payments 158
7. Umbrella Clause 159
8. Subrogation and Assignment 159
9. Further Issues Relating to the Scope of Application 159
IV. Provisional Application of the Treaty 160
V. Dispute Resolution 162
Prof. Dr. Martin SCHAUER
(Chairman) 164
Dr. Müslüm YILMAZ
Dispute Settlement at the World Trade Organization:
Impact on Private Economic Interests, an Example:
The Dispute between the United States and
Turkey över the Importation of Rice (Turkey-Rice) 165
I. Introduction 165
II. Actors in WTO Dispute Settlement 166
A. Private Party Participation at the Initial Stage of a Dispute
Settlement Proceeding 167
B. Private Parties Participating in Panel or Appellate
Proceedings as Part of their Government′s Delegation 169
C. Amicus Curiae Briefs 170
III. The Turkey-Rice Dispute 171
IV. Conclusion 176
Closing Speeches 178
Closing Speech by Prof. Dr. Turgut KALPSÜZ 178
Closing Speech by Prof. Dr. Nuray EKŞİ 185
Turkey enjoys a privileged historical, juridic, and geographical posture that suggests that it rightfully should be a leader in any effort contemplating the fashioning of a judicial culture premised upon a confluence of legal tra-ditions. As of the date of this writing, the Ministry of Justice has made clear Turkey′s commitment to international commercial arbitration as both an instrumentality of that sovereign′s development and a reassurance published to the world of prospective investors in Turkey as a host-state that its judici-ary has placed international commercial arbitration in pari materia with judicial recourse. This embracing and promotion of international commercial arbitration has been undertaken by clearly understanding that there is a need to build a judicial rubric on the traditional ius çivile and the ius gentium europeam so as to give rise to, as an ultimate expression of a judicial voice, a ius mundis or, put simply, a global law.
International commercial arbitration is but a temporizing measure, per-haps unbeknovrast to its vast constituency in the world of commerce, law, and the academy, that is serving as a historical temporal bridge until such time as transnational courts of civil procedure vested with authority to adjudicate private disputes arising from cross-border controversy, or the courts of "superestates", such as perhaps the European Court of Justice with respect to the European Union are capable of exercising jurisdiction över such con-flicts. Indeed, here international commercial arbitration, whether in the con-text of free trade agreements or ICSID, shall serve as the fertile petri dish for the right proportions of different legal systems that ultimately shall create a confluence of legal cultures capable of satisfying the well reasoned expecta-tions of parties to an arbitral proceeding. Moreover, the transfer of dispute resolution from the public to the private arena also constitutes a gradual exercise in the ceding of sovereignty pursuant to the reallocation of dispute resolution together with a new role for the judiciary as subservient to arbi-trations. This new space for judicial activism, which admittedly is confining in nature, represents a first step in the demişe of traditional paradigms of sovereignty, the modern state, and nationhood.
The rise in the number of international commercial disputes caused by the seemingly inexorable expansion of international trade and investments has brought about the need for alternative means of dispute resolution to supplement or replace the dispute resolution provided by state courts. International commercial arbitration is considered to be the mechanism that best meets the needs of the business community with regard to the resolution of disputes involving international trade and investments. The degree of free-donı provided to the parties to such disputes to select institutions or appoint individuals required to resolve disputes, and to choose the venue and the lan-guage of the proceedings and the substantive and the procedural rules to be applied are among the key factors that render international commercial arbitration an indispensable method of dispute resolution. The potentially rela-tively short amount of time needed for the completion of arbitral proceedings, the possibility of having individuals with the necessary and appropriate tech-nical expertise serve on arbitral tribunals, the lack of confidence towards state courts, particularly in disputes involving states, are also important factors promoting the use of arbitral proceedings.
Because arbitration is generally viewed as an appropriate mechanism that provides a speedy and satisfactory resolution to international commercial disputes, many states endeavor to create an arbitration-friendly legal environment in order to attract arbitral proceedings dealing with international commercial disputes. The creation of such a suitable legal environment is, therefore, critical in today′s world.
This book, which is the fruit of istanbul Conference on International Dispute Resolution: a Global Perspective organized by Prof. Dr. Nuray Ekşi under the auspices of istanbul Chamber ofCommerce on 15 November 2007, contains surveys of domestic legislation applicable to international commercial arbitration as adopted by many countries, including Austria, Brazil, Canada, Turkey and the United States. These national surveys mainly focus on international aspects of commercial arbitration in the authors′ respective countries. However, these surveys also deal with the legal framework of domestic arbitrations as well. in addition to articles that describe the rules and procedures regarding international commercial arbitration in different jurisdictions, this book also contains a brief survey of the Energy Charter Treaty, and segments that deal respectively with enforcement of arbitral awards, and dispute settlement at the World Trade Organization ("WTO").
Certainly, it would be less than comprehensive and, therefore, far from perfect, to preface this text without explicitly referencing one of Turkey′s most valuable and prodigious natural resources in the realm of jurispru-dence: Professor Dr. Nuray Eksi. Professor Dr. Eksi brought together in time
and space, in a single room but with diverse voices, ali of the contributors to this project from such diverse nationalities. The conceptual and logistical management of this task were daunting indeed. Professor Dr. Eksfs vision in the discipline of international dispute resolution and peerless academic accomplishments appear to make possible that which seems endemically impossible. The gathering of these diverse jurists from foreign lands is an example of such an accomplishment.
Pedro J. MARTINEZ-FRAGA*
^
*v
Pedro J. Martinez-Fraga is the coordinator of the International Dispute Resolution Practice Group as to Latin America and Florida, of the law firnı of Squire, Sanders and Dempsey L.L.P., and President of the Global Dispute Resolution Center of the Maiestas Foundation. He is also a full visiting professor of the University of Navarra in Pamplona, Spain, and an adjunct professor of law at the University of Miami School of Law. He has authored four books on private procedural international law and över fifty peer-reviewed articles on this subject.
ACKNOWLEDGEMENT
There would be no "istanbul Conference on International Dispute Resolution A Global Perspective" without the sponsorship and assistance of the istanbul Chamber of Commerce (ICOC). We are grateful for the help the ICOC has furnished. We are also grateful to our Minister of Justice, His Excellency, Mehmet Ali Şahin for the opening speech of the conference, and the personnel of the Ministry of Justice for their presence in the Conference. We also thank to the Foundation of Turkish Insurance Institution and the Associate Prof. Dr. Suna Özyüksel Oksay who is the Director of the Foundation for providing partial financial support for our cost.
We would like to express here our profound appreciation to each of the authors who contributed articles for this book and used their substantial expertise to prepare such useful and informative works on various issues of arbitration. Thanks to their professional skills and hard work this book is now ready to be offered to those who seek information on arbitration as prac-ticed in many countries around the world.
Challenges in publication of the conference documents were faded away by Mr. Seyhan Satar, the owner of Beta Publisher. We would like to express here our thanks to Mr. Seyhan Satar who hoşt the publication of the books and Miss Gülgonca Çarpık who designed the book.
The objectives of this joint project will be met if the resulting product responds in some measure to some of the needs of practitioners and researchers around the world who are involved in the fascinating field of international commercial arbitration.
^
Prof. Dr. Nuray EKŞİ Prof. Dr. Turgut KALPSÜZ Dr. Müslüm YILMAZ
CONTENTS
Preface 3
Acknowledgement 7
Abbreviations 15
Conference Programme 17
Opening Speeches 21
Opening Speech by Şaban DİŞLİ 21
Member of the Board of Directors of the istanbul Chamber of Commerce
Opening Speech by Mehmet Ali ŞAHİN. 24
Minister of Justice
SESSION I
A NATIONAL SURVEY ON INTERNATIONAL COMMERCIAL ARBITRATION
Chairman: Prof. Dr. Turgut KALPSÜZ
ICC Turkish National Committee Chairman of the Working Group on International Arbitration
Prof. Dr. Turgut KALPSÜZ
(Chairman) 29
Dr. Rabih Ali NASSER
Recent Developments in Arbitration in Brazil 31
I. Introduction 31
II. Legal Uncertainty 32
III. The Milestones 34
1. The Implementation of a New and Friendly Legislation 34
2. Pro-arbitration Case Law 37
IV. Fast-growing Use of Commercial Arbitration 40
V. Conclusion 41
10
Professor Frederic BACHAND
A Canadian Perspective on Controversial International Arbitration Issues
.41
SESSION II
SPECIFIC ISSUES ON INTERNATIONAL COMMERCIAL ARBİTRATİON
Chairman: Prof. Dr. Ünal TEKINALP
Chairman, Commission for the Draft Turkish Commercial Code
Prof. Dr. Ünal TEKİNALP
(Chairman) 57
Hon. Prof. Dr. Andreas REINER
Impact on Awards Rendered When an Arbitrator′s
Lack of Independence and/or Impartiality or Failure to
Comply with His/Her Disclosure Obligations is Discovered
Ex Post 59
I. Introduction 59
II. A Comparative Overview 64
1. USA 64
2. Austria 65
3. Germany 66
4. Switzerland 67
5. France 67
6. Turkey 68
III. Search for the Best Uniform Approach 69
A. A Complete Denial of a Remedy would be Unacceptable 69
B. Specific Requirements for Challenging the Avvard and/or
for Refusing Enforcement? 69
1. Should the Award be Set Aside and should
Enforcement be Refused 69
2. Is it Necessary that the Lack of Independence Actually
(or most likely) had an Impact on the Outcome of the
Case? 71
3. Is it Relevant Whether the Arbitrator Knew, should have
Known or did not Know of the Conflict of Interest? 72
4. Are there/should there be Any Time Limitations to the
Challenge of the Award/to the Resistance to Enforcement? ...73
11
5. What are the Specific Grounds a Party can Rely upon
for Challenging the Award/for Resisting Enforcement? 74
C. Issues of liability 77
IV. Conclusion 78
Prof. Dr. Ünal TEKİNALP
(Chairman) 78
Adjunct Prof. Pedro MARTINEZ-FRAGA
The Institution of Arbitration and U.S. Institutional
Arbitration: The Development of a De Facto Adjudicative
System without Sovereign, Courts, or Legislators 79
I. Spectator and Spectacle: Arbitration as Perceived at Its
Inception in the United States 80
A. The Current Historical Moment 80
B. The UK Legacy Engrafted Upon the American
Perception of Arbitration 84
C. American Vintage Misperceptions 87
II. The Vertical and Horizontal Proliferation of Arbitration as
an Institution in the United States 95
III. The Kelsian Paradigm and the New Lex Mercatoria 101
IV. Conclusion 102
SESSION III
ENFORCEMENT OF FOREIGN ARBITRALAWARDS Chairman: Prof. Dr. Ergin NOMER
University of Kadir Has, School of Law, Director of PİL Department
Prof. Dr. Ergin NOMER
(Chairman) 104
Adjunct Prof. C. Ryan REETZ
Enforcing and Challenging Arbitral
Awards in the United States 105
I. Introduction 105
II. The Statutory and Treaty Framework for Enforcing Avvards 107
III. Review of "Domestic" and "International" Arbitration Avvards 109
IV Treatment of Foreign Awards That Have Been Set
Aside in the Rendering Jurisdiction 110
-vv
■^v
\
12
V. Enforcement of Agreements to Vary the Standard of Review 112
VI. Enforcement of Interim and Partial Awards 114
VII. Enforcement Applications and the Doctrine of
Forum Non Conveniens 115
VlII.Conclusion 117
Prof. Dr. Ergin NOMER
(Chairman) 117
Prof. Dr. Nuray EKŞİ
Evaluation of the Precedents of the Turkish Court of
Cassation Concerning Certain Problems for the
Enforcement of Foreign Arbitral Awards under the
New York Convention 118
I. Legal Framework for the Enforcement of Foreign Arbitral
Awards in Turkey 118
II. Current Problems Regarding the Enforcement of Foreign
Arbitral Awards under the New York Convention in the
Precedents of the Court of Cassation 122
1. The Inconsistency of the Arbitral Avvard with Public
Policy and Public Morality 122
2. Whether a General Reference to Turkish Law by the
Parties Covers Both Substantive Law and Procedural Law 129
3. Lack of Power of Representative 134
4. Lack of Proper Service 142
5. The Subject Matter of the Dispute Not Capable of
Settlement by Arbitration under Turkish Law 145
SESSION IV
SETTLEMENT OF INVESTMENT AND WTO DISPUTES Chairman: Prof. Dr. Martin SCHAUER
University of Vienna, Civil Law Institute
Prof. Dr. Martin SCHAUER
(Chairman) 151
Domenico Di PIETRO
The Energy Charter Treaty an Overview 152
I. Introduction 152
13
II. The Investment Chapter of the Energy Charter Treaty 154
III. Overview of the Treaty′s Investment Provisions 155
1. The definition of Investment 155
2. General Treatment of Foreign Investors 156
3. Non-Discrimination 157
4. Expropriation 157
5. Damages Related to Political Instability 158
6. Transfer of Payments 158
7. Umbrella Clause 159
8. Subrogation and Assignment 159
9. Further Issues Relating to the Scope of Application 159
IV. Provisional Application of the Treaty 160
V. Dispute Resolution 162
Prof. Dr. Martin SCHAUER
(Chairman) 164
Dr. Müslüm YILMAZ
Dispute Settlement at the World Trade Organization:
Impact on Private Economic Interests, an Example:
The Dispute between the United States and
Turkey över the Importation of Rice (Turkey-Rice) 165
I. Introduction 165
II. Actors in WTO Dispute Settlement 166
A. Private Party Participation at the Initial Stage of a Dispute
Settlement Proceeding 167
B. Private Parties Participating in Panel or Appellate
Proceedings as Part of their Government′s Delegation 169
C. Amicus Curiae Briefs 170
III. The Turkey-Rice Dispute 171
IV. Conclusion 176
Closing Speeches 178
Closing Speech by Prof. Dr. Turgut KALPSÜZ 178
Closing Speech by Prof. Dr. Nuray EKŞİ 185
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