A company requires emergency refinancing but is restricted by the original investors’ consent rights—is there a legal channel for the company to seek relief? The answer is “yes”. Emergency arbitrator procedures can be initiated to seek relief if international arbitration is the agreed dispute resolution method in the cross-border investment and financing agreements, and the selected arbitration institution rules provide for emergency arbitrator procedures. This article will provide a brief introduction to emergency arbitrator procedures in international commercial arbitration and the review criteria on which arbitrators will grant emergency relief.
Parties to a dispute often encounter certain emergency circumstances after the dispute occurs. In such cases, the parties may suffer irreparable loss or damage if they do not seek emergency relief from an authoritative third party. In judicial proceedings, the parties involved are generally allowed to apply to a court for temporary measures (such as pre-action security, prior execution, etc. under PRC law) before or concurrently with the proceedings. More...
