Introduction

Recent trends in the world economy have accelerated the globalization process, leading to an explosion in international trade, cross-border mergers and acquisitions, and a host of bilateral and multi-lateral investment treaties. Inevitably, globalization has led to increased cross-border disputes between companies as well as against sovereign governments. Increasingly, international arbitration is the preferred choice for resolving cross-border disputes. A recent study by PricewaterhouseCoopers LLP and the School of International Arbitration at the Queen Mary University ...