Arbitration - new Vienna Rules

By Aurelia Tramposch, Tramposch & Partner

In order to further enhance the attractiveness of Vienna as an arbitration venue, the revision of the Vienna Rules in 2013 strived to modernise and streamline arbitration proceedings. The revision was followed by an Amendment of the Austrian Arbitration Act this year, ensuring that annulment claims are directly decided by the Supreme Court as first and final instance.

Henceforth, the arbitral tribunal has the authority to order the joinder of third parties at the request of either party or the third party itself. Joinder can be approved for the party with full Partystatus, but also in other ways (e.g. amicus curiae). In addition, a cross claim against the party to be joined is permitted.

The consolidation of two or more proceedings will be permitted where approval must be granted by the Board of VIAC.

With regard to multiparty proceedings, all parties on one side have to agree on the arbitrator they wish to nominate. A lack of a unanimous decision results in the arbitrator's appointment by the Board of VIAC. However, a substitute appointment for one side does not automatically result in the other party losing its right to appoint an arbitrator. Under the new rules a state court may remit proceedings to the arbitration tribunal, for example, in the context of annulment proceeding.

Since the Austrian Arbitration Act does not foresee such proceedings, remission by a state court can only be made under the following conditions: the seat of arbitration is outside of Austria, Vienna Rules apply and the applicable law of the seat of arbitration allows for such remittance.

Changes were made with respect to the registration fee which was decreased to EUR 1,5oo. The new Rules as well as the Amendment were well received by practitioners, judges and arbitration organisations guaranteeing the competitiveness of Vienna as an arbitration venue.


Tramposch Aurelia 121pxAurelia Tramposch, Associate
Tramposch & Partner, Innsbruck, Austria
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Aurelia Tramposch is an associate who has been working in the Vienna office of Tramposch & Partner since 2012. Aurelia has previously worked in renowned law firms in London, Mexico City and Vienna with a focus on international arbitration.

Tramposch & Partner is a boutique law firm handling litigation and business law matters on a national and international scale. The three offices across Austria, based in Innsbruck, Vienna and Eisenstadt, enable the company to provide comprehensive legal counselling as well as representation at all Austrian courts and administrative bodies. Tramposch & Partner offers specialised services in the areas of corporate law, insurance and re-insurance law, debt collection and litigation.

 


published: January 2014

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