EFE

open now in six months for both sides to try to reach a settlement before filing a lawsuit Repsol. Important data that increases the tension between Argentina and Repsol.

Repsol sent a letter to the President of Argentina, Cristina Fernandez, who has declared the existence of a dispute over the nationalization of 51% of YPF, the Spanish oil company, the first step taken to bring the case to international arbitration .

Repsol sources said on Tuesday that the oil company believes that the measures taken by the Argentine Government, the Contracting promotion and protection of investments hurt and that this dispute is before the International Centre be resolved for Settlement of Investment Disputes of the World Bank (ICSID). open now in six months for both sides to try to reach an agreement before the Repsol it really a wish arbitration before ICSID reach. More information coming soon

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MANILA, Philippines – China sees the submission of the dispute over Panatag (Scarborough) Shoal to international arbitration as a “weird” thing in international affairs.

At a press conference in Beijing on Tuesday, Chinese Foreign Ministry spokesman Hong Lei said China has sovereignty over the shoal, also called Bajo de Masinloc in old Philippine maps.

“Isn’t it a weird thing in international affairs to submit a sovereign country’s territory to international arbitration?” he said. “What a chaos the world will be in if this happens.” 

Hong said China has full historical and jurisprudential evidence of its sovereignty over the shoal.

“Whatever the Philippines do or say regarding the sovereignty of the island cannot alter the fact that the island belongs to China,” he said.

Hong said the Philippines unilaterally provoked the situation in Panatag Shoal.

Over time the Philippines has been escalating the situation regardless of the consequences, he added.

Last July, Foreign Affairs Secretary Albert del Rosario first raised to Chinese Foreign Minister Yang Jiechi and Vice President Xi Jinping the issue of bringing the Philippine and Chinese claims to the International Tribunal on the Law of the Sea (ITLOS).

However, the response Del Rosario received was that the Philippines and China should undertake to settle the matter bilaterally and not to use a dispute settlement mechanism.

“So effectively they said no to our suggestion that we take it to international arbitration,” Del Rosario said.

Chinese Foreign Ministry spokesperson Liu Weimin accused the Philippines of unilaterally misinterpreting the United Nations Convention on the Law of the Sea (UNCLOS).

“Its (Philippines) claim of a ‘200 nautical miles of exclusive economic zones’ has impaired China’s territorial claim, which is in itself against international law. International rules are made jointly by all countries in the world, and countries, big or small, should abide by them. We believe the public are able to tell right from wrong,” Liu said.

China warned on Monday the Philippines about preparations Beijing has made to respond to any escalation of the situation in the area.

On Monday, Vice Foreign Minister Fu Ying summoned Alex Chua, charge d’affaires of the Philippine embassy in Beijing, to make a serious representation over the current

Article source: http://www.philstar.com/Article.aspx?articleId=806143&publicationSubCategoryId=63

ADR Prof Blog: CFPB will begin study of consumer arbitration www.indisputably.org/?p=3564

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