High Court stays £173m international settlement award

first_imgThe High Court has handed down a judgment which, for the first time, stays enforcement of an international dispute resolution award despite its registration in England and Wales.The case, Micula & Ors v Romania & Anor [2017] EWHC 31 (Comm) (20 January 2017), heard in November last year, is between the state of Romania and two Swedish investors of Romanian descent and their respective companies.Viorel and Ioan Micula had obtained a damages award and interest totalling £173m following a hearing at the International Centre for Settlement of Investment Disputes in Washington DC.The award, which was registered in the High Court in England, followed Romania’s withdrawal of an investment incentive programme in light of the country’s accession to the EU and subsequent introduction of EU state aid rules.The European Commission, which supported Romania, had determined prior to the Commercial Court hearing that under EU law concerning payment of state aid, any payment under the ICSID award would constitute unlawful state aid. The commission’s decision is being challenged by the investors in the EU’s General Court.A hearing is due to take place within the next couple of years.Romania argued that registration of the award in the London proceedings should be set aside or that enforcement of the award should be stayed pending the outcome of the EU court case.In the ruling Mr Justice William Blair granted Romania’s application to stay enforcement of the judgment.Romania was represented by Robert Sear and Michael Nathanson of UK firm Thrings solicitors while the investors were represented by international firm Shearman & Sterling and City firm White & Case.Robert Sear, partner at Thrings, said: ‘This is an important case as it is the first time that the enforcement of an ICSID award has been stayed in the UK on such terms.‘The key issue in the matter was whether English law – in this case the law requiring the registration and enforcement in the English courts of an ICSID award – can only be implemented subject to EU law. The court considered that the decision did not create a conflict with the ICSID convention or the Arbitration Act 1966 as the award was to be equated with a domestic judgment on which a similar stay would have been granted.’last_img read more

Shippers seek open access

first_img’We need to respond. We can’t wait any longer. We have to act now.’ Linda Morgan, who chairs the US Surface Transportation Board, was speaking on April 3 at the end of a two-day public hearing to deal with shippers’ complaints about poor service and high charges. In the light of UP’s ongoing troubles (p275), the hearing was never going to be a friendly pow-wow.During the hearing the shippers unleashed a stream of proposals they felt would solve their problems.Top of the list was open access, which the railways firmly rejected as being unworkable. ’No access auctions or sophisticated computer algorithm is going to replace the judgement of railroad managers’, said Joseph Kalt of Harvard’s John F Kennedy School of Government, who had been brought in to testify on the railways’ behalf. Countering earlier testimony supporting open access from economist Alfred Kahn, Kalt suggested that competition through open access would return the railways to ’heavy-handed regulation’. Before either party gets too excited, we suggest that they check just what has happened with open access in Europe – which so far is remarkably little.Acting AAR President James A Hagen also defended the status quo and insisted the railways were doing all they could to untangle the congestion. ’The industry is committed to solving the problem as quickly as possible, and we are making the additional capital investments in the rail infrastructure that will prevent these problems from recurring’, he said.Hot on the heels of the US$2·4bn CN-IC merger (p275) the two railways announced on April 15 that they had formed a 15-year marketing alliance with Kansas City Southern. The arrangement does not require STB approval. The three railways said they would co-ordinate sales and marketing, operations, fleets and information systems. olast_img read more

Wayside inspection station pinpoints geometric faults in bogies

first_imgINTRO: By detecting alignment and tracking faults as a train passes, wheelsets suffering excessive wear caused by bogie defects can be identified before their economic life is compromisedBYLINE: Denis D’Aoust and Grigory Izbinsky*BYLINE: * Denis D’Aoust is Chief Engineer, and Grigory Izbinsky is President, Wayside Inspection Devices IncREPROFILING or replacing worn wheelsets absorbs a significant proportion of rolling stock maintenance costs. Consequently, much effort has been devoted to ways of extending wheelset life. Established methods – none of them cheap – include improvements in wheel and rail materials, lubrication, asymmetric rail profile grinding, and the introduction of premium bogie designs.A more efficient approach is to detect geometric faults in the alignment and tracking of wheelsets in a bogie which cause premature wear, so that corrective action can be taken before costly wheelset maintenance or replacement is needed.Misaligned wheelsets are a sure sign of trouble. It is now possible to measure the angle of attack of individual wheelsets in real time using wayside inspection devices. Angle-of-attack inspection stations have been developed primarily for heavy haul railways, but they also have a use on passenger railways. AAIS can also determine whether the two wheelsets in a bogie are tracking correctly.Failure to detect and rectify bogies with misaligned wheelsets not only increases the wheelset removal rate; it also compromises other measures taken to maximise wheelset life such as matching wheel tread and rail profiles. Bogies that have misaligned wheelsets will wear out their wheels unevenly and at an accelerated rate, while other bogie components will suffer accelerated wear and tear.Misaligned wheelsets are also responsible for increased fuel consumption and accelerated track deterioration. A tool that reliably identifies bogies with misaligned wheelsets, allowing operators to make timely repairs, can typically:last_img read more

Industry must look at whole-life costs

first_imgWHEELSETS: Procurement managers must continue to look beyond initial capital cost when making purchasing decisions, despite the pressures of the global recession.,It hardly needs saying that the economic crisis has severely hit the manufacturing sector. The global credit shortage of 2008 has distressed the results of many a company worldwide, and the railway industry is far from immune – although as expected, the impact is being felt somewhat later. The freight market has already nosedived: Unife recently reported a 30% year-on-year decline in European transport volumes in Q1 2009.Economic stimulus packages announced by various national governments may help to alleviate some of the symptoms, but the difficulty in accessing private finance is likely to cause the postponement or cancellation of major capital investment projects, with the freight sector also most exposed to the consequences. Equally, the European Commission’s deregulation process has allowed new entrants into markets hitherto virtually closed to them. Deregulation is right, but it is all the more challenging in the current economic environment.In such conditions, it is no surprise that cost reduction and productivity are back at the top of the rail industry’s agenda. Rolling stock owners and train operators are keen to drive down the cost of procuring commodities such as wheelsets. Decreasing raw material costs, stalling demand and increased competitive pressure are all converging to strengthen their position. As a leading supplier of such components, GHH-Valdunes is also confronted with such requests. We believe the best answer lies in the analysis of life-cycle costs.Just before the crisis started to bite, some leading European operators were starting to implement a thorough methodology for calculating and applying lifecycle costs as part of their procurement policy. The reason is clear: a low initial purchase price is by no means a reliable indicator of operating and maintenance costs; indeed an emphasis solely on upfront capital spending can prove short-sighted. Heavy haul exampleThe heavy haul segment provides a useful illustration of the advantages of analysing whole-life costs. Trains carrying more than 30 000 tonnes of freight (usually iron ore) must show absolute reliability as well as very high availability. With gross loads up to 40 tonnes per axle, the same requirements apply to wagon wheelsets. Patiently and methodically building upon our considerable experience, the joint work between GHH-Valdunes and ArcelorMittal’s teams in Canada has extended the service life of wheelsets to 2 million km. An analysis of operations and maintenance procedures, and a specially-adapted wheel design accounting for steel quality and detailed geometrical features, have led to this outstanding achievement. Forged wheels have shown their value: even though their purchase price is higher (especially compared to the cast wheels commonly used in the USA), they remain unquestionably more competitive in terms of life-cycle costs.The example illustrates three major points. First, considering the operational life of rolling stock is often more than 30 years, it is in the end-users’ interest to look at whole-life costs. Investment decisions must be taken after a careful analysis of the costs related to operations, maintenance and disposal. Such tools can also be used to benchmark competing suppliers. Secondly, life-cycle analysis helps suppliers gain a competitive edge over cheaper alternatives, especially those suppliers based in developed markets facing an initial hurdle of higher labour costs. The model can provide a valuable sales argument by highlighting the value of stricter quality control or more careful sourcing of raw materials. Thirdly, this is absolutely the right moment to introduce the model as part of a structured approach to quantify the economic performance of rail vehicles and components. Advocating standardisation and harmonisation, the European Railway Agency has published TSIs to specify from a regulatory point of view the main attributes of a particular product. Life-cycle cost analysis is an entirely complementary process as it provides a quantifiable indicator of the long-term economic value of a product.Despite the current hardships, the European railway industry has a promising future. The imperative to counteract global warming will undoubtedly favour the rail mode, but the industry must be pro-active in demonstrating its inherent advantages in a competitive transport market. Life-cycle cost analysis is a tool it needs. Dr Raimund Abele is Executive Vice-President and Board Member of GHH-Valdunes group with responsibility for international affairs. Before joining GHH-Valdunes, Dr Abele was in charge of Rail Bearing products at Schaeffler Group. He has been Vice-President of VDB, the German railway industry association.last_img read more

Jamaica committed to stronger partnership with Namibia

first_imgPrime Minister Holness addresses a group to discuss relations between Jamaica and Namibia Prime Minister Andrew Holness has underscored Jamaica’s commitment in strengthening its partnership with the South African state of Namibia.During bilateral talks with Namibian President   Dr Hage Geingob, Holness stated that during the years of Namibia’s liberation struggle, the Government of Jamaica considered it a privilege and duty to support the liberation process.“Today, we must build on these historical ties of friendship and solidarity to forge deeper bonds of cooperation for the well-being and prosperity for both our peoples,” said Holness.Citing that bilateral relations were similarly strengthened back in 1995 when the then President of Namibia, Sam Nujoma visited Jamaica, Holness said that it is proof of the value and importance of “people to people connections in strengthening the relations between the two countries.”Similar development aspirations The Prime Minister further stated that Jamaica and Namibia share similar development aspirations which are reflected in the respective vision 2030 plans with specific focus on capacity building for national development.He noted that in the context where trade and investment are significant drivers of economic growth, he believes it is important for both countries to strengthen ties in those areas.In the meantime, the Prime Minister stressed that while Jamaica and Namibia are geographically situated on opposite sides of the globe, they must seek to strengthen corporation at the multilateral level for developing countries to be heard.Continue struggle of liberation“As bilateral partners we must continue to strengthen our collaboration at the multilateral level to give voice of the positions of the developing countries in fora such as the commonwealth, the African, Caribbean, Pacific (states) and the United Nations. We have signed corporation agreements before, we have expressed our solidarity in words. The struggle of liberation has not ended, it has merely taken on a new phase. In this phase of the struggle, you say economic emancipation; we say economic independence as we both seek the pathway to prosperity. I therefore commit my Government and the people of Jamailast_img read more

Players To Love And Hate In Week Seven Of Fantasy Football

first_imgLast week was another one that I got doomed by the running backs. If I could have gotten more production there it could have been amazing instead of great.When both of your running backs are your low scorers it’s a hard pill to swallow. This week I’m not going to make the same mistake as I’ll explain. I feel great about this week’s lineup and am bumping up my double up to $50 this week.Let’s get it going again and as always feel free to comment with any questions whether it’s Fanduel or your own fantasy league related, or better yet you can contact me through twitter @burasek10 or email urasekb@yahoo.com Pages: 1 2 3 4 5 Related Topics Brandon Urasek While a pharmacy major at Toledo by day, Brandon Urasek is now making his mark in the journalism scene specializing in fantasy football and all things Cleveland sports. A five time fantasy football league champ and two time runner-up in ten tries, Brandon strives to help people with their lineups each week in both personal and weekly fantasy leagues in addition to covering the other various Cleveland teams. Follow Brandon on twitter @burasek10last_img read more

Setiap Pintu Toilet di Kabin Pesawat Ternyata Punya “Kunci Rahasia”

first_imgMungkin bagi Anda penumpang awam di pesawat tidak akan mengetahui bahwa di balik tulisan toilet ada kait, tetapi para awak kabin pastinya sangat jelas mengetahui tentang seluk beluk pesawat termasuk kunci darurat otomatis toilet. Itu semua tentu ada maksudnya, terlebih bila terjadi kondisi darurat, maka awak kabin harus dapat membuka pintu toilet dari luar. Sebagai contoh, bila ada penumpang yang tiba-tiba mengalami serangan jantung, maka awak kabin harus mendapat akses untuk masuk ke bilik toilet.Baca juga: Waspada! Inilah Lokasi Favorit Bakteri di Dalam Kabin PesawatDiantara kasus lain yang kerap terjadi adalah anak kecil yang tak  sengaja terkunci di dalam toilet. Bahkan dalam sedikit kasus, ada pasangan yang mencoba mesum di bilik toilet, maka dengan adanya tools khusus dari luar, jangan sangka pintu toilet tidak dapat dibuka oleh awak kabin.Baca juga: Penumpang Wanita Ditemukan Tewas, Dibawa Keluar Pesawat dengan DiseretKonfigurasi bilik toilet di Airbus A320Bilik Toilet Terkoneksi di Airbus A320Kebanyakan bilik toilet di kabin dirancang dengan ukuran pas-pasan, namun ada yang berbeda dari bilik toilet di pesawat Airbus A320/A321, pasalnya pada bagian belakang ada dua bilik toilet yang saling berjajar dan dapat dibuka sekat diantara keduanya. Seorang pramugari asal Swiss mengungkapkan dua bilik toilet yang terkoneksi tersebut pernah digunakan untuk tujuan mesum oleh pasangan penumpang yang nakal. Tentu saja Airbus mendesain toilet tersebut untuk maksud baik, yakni guna memudahkan akses ke toilet bagi penumpang difabel. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedToilet di Pesawat, Fungsi Sama Aturan Sedikit Beda07/02/2017In “Domestik”Wow, Toilet Umum di Jepang Dibuat Transparan12/08/2020In “Featured”Berakibat Fatal, Pintu Pesawat Terbuka (Lepas) Saat Mengudara29/05/2017In “Featured” Kunci rahasia di balik tulisan toilet (The Sun) Banyak hal tersembunyi di pesawat yamg mungkin tidak diketahui orang awam, sehingga ada baiknya sebagai penumpang pesawat gunakanlah tempat-tempat di dalam pesawat dengan bijak. Sebab, salah-salah bukannya Anda mendapat privasi malahan bisa mendapat malu. Salah satu yang harus digunakan dengan bijak adalah toilet di kabin sebagai  tempat privasi untuk membuang hajat atau sekedar membasuh muka di wastafel.Baca juga: Toilet di Pesawat, Fungsi Sama Aturan Sedikit BedaKabarPenumpang menlasir dari thesun.co.uk (1/8/2017), setiap orang di dalam pesawat berhak memiliki privasi dan merasakan kenyaman, namun apa jadinya bila sesuatu yang tadinya dianggap privasi, namun malah sebaliknya. Sebagai contoh adalah pintu pada toilet, bila Anda anggap bahwa pintu hanya bisa dibuka dan dikunci dari dalam, itu ternyata salah.  Pintu model lipat pada toilet kabin dapat dibuka dari luar. Lantas dimanakan panel pembuka pintu dari luar berada? Panel pembuka pintu toilet ternyata justru ada dibalik tulisan toilet atau lavatory, bila dibuka akan kait rahasia yang bisa membuka pintu toilet dari luar.Pintu toilet pesawat (The Sun)last_img read more

Hunters aim to make amends against Pride

first_imgRugby League BY SIMON KESLEP SP PNG Hunters aim to make amends with their performance on home soil against the visiting Northern Pride this Sunday. The Hunters have won five games out of the last nine meetings with Pride and Coach Michael Marum said on Tuesday that he will not be making any major changes to last Sunday’s team. “Not much change from last week’s team. There is a lot of work for the halves to do – William Mone and Charlie Simon – we do not want to put too much pressure on them with other boys knocking on the door. We will see how they go in the second game … may be they’ll step up at home this weekend. We got few more days to go at training and make the final call on who will start,” said Marum. Last Sunday’s nil-all score line at halftime was also the first in the Hunters’ five-year participation in the Intrust Super Cup. “We had a video session before we started training so that is the first time we never scored a point against any team in our five-year history. I don’t think the boys knew about that so I made that known to them. We always score four point or 16 points and we did a review on that as well.” He said they are playing at home so changes can be made before Sunday’s game. He also highlighted on the halves kicking game, execution on game day and one up straight running into defenders. “We had more football and it all goes back to how we execute the plays and that is the combination of the half back, five-eight, hooker and fullback. They are still working it out and we will try to give them one or two more games but sometimes we can make early calls. “I will be sitting down with individual players this week and going through game clips mainly areas of improvements and giving them at extra positive thinking.” The inclusion of Junior Rau who missed last Sunday’s game through one-match suspension is also a boost for Hunters. Marum said they needed to use speed out wide and with Junior Rau coming back to assist in the back three play. Stanton Albert is making progress to improve from his niggling injuries and will be monitored today and tomorrow at Captain’s run. “I think, he (Stanton) will be all right since he is coming off the bench. If he can give us that 15-20 minutes game-time, it will be good for us. We just need an experience player in there and I thought our forwards did well last weekend and they just probably need a little guidance. Woods Kawage and Shane Haro are also on the injury list and are showing positives to recover from their injury. “They (Northern Pride) had a good win last weekend with Nene McDonald, Gideon Gela-Mosby and all those other NRL players. I spoke to Nene last weekend. They scored four tries against Redcliffe Dolphins. We have won five out of nine games against Pride in the past five years,” he said. The 2019 regular season ticket prices for the Hunters home games for west wing stand is K25, Grand stand K40, South Stand K15, North Stand K15 and East Stand K20 with an early bird price at K15. Ticket selling locations are Brian Bell Boroko Plaza, Brian Bell Home Centre Gordons, Brian Bell Vision City, J-Mart Erima and Kool Stuff Waterfront.last_img read more

West Ham can play crucial role in transfer, but may end…

West Ham being linked to Gerard Deulofeu has of course quickly made its way to the Spanish media. Deulofeu is in the current Spain squad, and Barcelona have a €12m buyback option, meaning there’s more than one angle of interest in the Everton owned player.Interest from West Ham can help Everton get a good price from AC Milan, and also assist Deulofeu in getting Milan to offer him good personal terms. Milan are already trying any trick to get the price down, with it being reported in Italy this week that they’ve even spoke to Barca about the Catalan club using their clause and then selling to Milan… for less than Everton would have.Milan didn’t count on Everton having already closed that door, and Roberto Martinez explained when he was manager of the club: “There are certain things in the deal. They can’t take him back in the winter so they can’t take him back in January. It can only be at the end of the season. It is €9m for the first year and €12m in the second year.“If they take him back they can’t sell him for a season, so he has to stay in the first-team squad for a season. At the end of that if they decide to sell him we have got first rights of getting him back or we have got a big percentage of that deal.”Another way to pressure Everton is for Milan to paint themselves as the only option in town, should Barca not be interested. West Ham interest, and indeed the interest of other clubs, would be a positive for Everton in this respect and help drive the price up.Milan will play games over this deal, they tried to over the loan deal, and Everton need an alternative market to help them. West Ham could be crucial, but ultimately they could also be used.by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksTrending TodayForge of Empires – Free Online GameIf You Like to Play, this City-Building Game is a Must-Have. No Install.Forge of Empires – Free Online GameUndoMisterStocksThese Hilarious Photos Were Captured On The SubwayMisterStocksUndo聽多多 Hearmore.asia1969年前出生的香港居民現可免費試戴頂尖的歐洲助聽器聽多多 Hearmore.asiaUndoSingles50Hong Kong: A 40+ Dating Site That Actually Works!Singles50UndoTheTopFiveVPNEnjoy Netflix Now Without Any RestrictionsTheTopFiveVPNUndo美術寶1對1香港媽媽們注意了,速來領取適合4-12歲孩子的繪畫課,手慢無美術寶1對1Undo熱門話題生髮率無敵高!96%的禿頭都獲得改善!←這會不會長太多?熱門話題UndoSmart Tech TrendOver 55? You Have to Try Those Revolutionary Glasses!Smart Tech TrendUndoCoworking Space | Search AdsThe cost of shared office in Hong Kong might surprise youCoworking Space | Search AdsUndo read more