naghmeh javadpour; HAMIDREZA OLOUMI YAZDI; SEYED NASROLLAH EBRAHIMI
Abstract
Med-Arb is one of the hybrid and integrated dispute settlement mechanisms which embodies flexibility, non-judicial and negotiate-oriented benefits of "mediation" and finality advantage of "arbitration" simultaneously and in a single process. In this article, med-arb nature is identified through a comprehensive ...
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Med-Arb is one of the hybrid and integrated dispute settlement mechanisms which embodies flexibility, non-judicial and negotiate-oriented benefits of "mediation" and finality advantage of "arbitration" simultaneously and in a single process. In this article, med-arb nature is identified through a comprehensive comparative legal study including major legal systems and procedural rules of leading dispute settlement institutions. Opportunities and challenges of adopting med-arb in terms of legal, economic and managerial perspectives is analyzed. Although this method provides parties with a huge flexibility, control over the process and great efficiency (in relation to other dispute settlement mechanisms), some serious challenges regarding enforcement of awards in international contracts exist. In light of International Commercial Arbitration Act of Iran and Civil Procedure Code (regarding domestic arbitration rules), in case that parties reach agreement in the first phase (mediation), it is not possible that mediator only serve as arbitrator so that be powered to change the mediation agreement into an arbitral award. However, if parties fail to reach agreement in the first phase and arbitration initiates accordingly, their settlement in this stage can be regarded as consent award and be subject to benefits of enforcement of international arbitration awards.
Mansour Amini; simin vahedi
Abstract
Limited liability of shareholders of corporations is the primary principle of corporate law in most countries. Limited liability is however subject of debates by law and economic scholars. The research method applied in this research is theoretical analysis and the research approach is non-normative ...
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Limited liability of shareholders of corporations is the primary principle of corporate law in most countries. Limited liability is however subject of debates by law and economic scholars. The research method applied in this research is theoretical analysis and the research approach is non-normative analyzing the possible solution without considering status que in search of most efficient solution. Limited liability is not efficient in terms of economic analysis of law, particularly in the context of company group, which is the main actor of the today’s world. The externalities created by abuse of company form exceed its benefits. Common law doctrine of veil piercing sets aside the veil of corporation and holding shareholders personally liable for company debts in case of abuses by shareholders or lack of observance of company formalities. This doctrine can modify the effect of the externalities and reduce moral hazard created by limitation of liability. Such theory or similar mechanisms, except with special regulations related to the tax and banking system, do not exist in Iran legal system. Therefore legislation in this regard is recommended.
