UNIDROIT Instruments
Webinars
Essay competition
Measures adopted by the Secretariat
In the context of the ongoing COVID-19 pandemic and the attendant economic crisis, a number of leading UNIDROIT instruments may be of interest to a wide array of actors (e.g. domestic and international policymakers, legal professionals, development practitioners, etc.) currently facing serious challenges in a number of areas linked to law and development such as the administration of justice, the economy, and how to protect particularly vulnerable populations. The UNIDROIT instruments mentioned below may be particularly useful to address challenges regarding contractual disruptions and may also contribute to rebuild the economy in the post COVID-19 scenario, especially by improving access to credit.
PUBLICATION OF NOTE ON PRINCIPLES OF REINSURANCE CONTRACT LAW AND THE COVID-19 HEALTH CRISIS
On 8 February 2023, UNIDROIT and the PRICL Working Group released a Note that discusses the potential response to the COVID-19 health crisis exclusively by reinsurance contracts governed by the Principles of Reinsurance Contract Law (PRICL).
The note was authored by Kevin Bork, Helmut Heiss, Marta Ostrowska, Jeffrey W. Stempel, Manfred Wandt, Oliver D. William in cooperation with the UNIDROIT Secretariat.
The text of the Note is available here.
For more information on the PRICL project see our section on the UNIDROIT website and the PRICL Working Group page.
UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS (UPICC)
In 1994, UNIDROIT approved and issued a private codification or “restatement” of international contract law entitled “UNIDROIT Principles of International Commercial Contracts” (henceforth, the Principles). Prepared by a group of independent experts from all the major legal systems and geo-political areas of the world, the Principles are now in their fourth edition, adopted in 2016, and have been translated into more than 20 languages. The Principles represent the only global instrument offering a set of comprehensive general rules applicable to different types of commercial contract, as opposed to other transnational law documents which are either geographically limited in origin or materially confined in scope to certain types of contract. One of the flagships of Unidroit, renowned among scholars and practitioners alike, the Principles have influenced national and international legislators and are being applied in practice by parties, arbitrators, and courts in a variety of ways (for extensive reference to case-law and bibliography on the Principles see the data-base Unilex)
In the context of the outbreak of COVID-19 and the resulting public health and economic crises, UNIDROIT has prepared guidance as to how the Principles could help address the main contractual disruptions caused by the pandemic directly as well as by the measures adopted as a consequence thereof (Note of the UNIDROIT Secretariat on the UNIDROIT Principles of International Commercial Contracts and the COVID-19 Health Crisis).
Although the pandemic may interfere with the ordinary execution of commercial contracts in many ways, the most obvious problems concern performance by at least one of the parties. Accordingly, it is necessary to analyse whether parties may invoke COVID-19 as an excuse for non-performance, and if so, based on which concepts and under what conditions; furthermore, the analysis also covers the situation, likely to be common in practice, where performance is still possible, but under the circumstances it has become substantially more difficult and/or onerous.
At the domestic level, such situations are normally discussed according to traditional concepts such as “frustration”, “act of God”, “impossibilité”, “Unmöglichkeit”, “imposibilidad en el cumplimiento”, or of “imprévision”, “Störung der Geschäftsgrundlage”, “rebus sic stantibus”, to mention but a few, and the solutions may vary considerably from country to country. The Unidroit Principles offer parties and adjudicators a modern, flexible and uniform approach, particularly in the provisions on “Force majeure” (Article 7.1.7) and “Hardship” (Articles 6.2.2 – 6.2.4), which have already been enormously influential in the domestic and international contexts.
The document issued by UNIDROIT aims to guide the reader through the process, leading her to ask appropriate questions and to consider the relevant facts and circumstances of each case. Naturally, solutions will vary according to the particular context of the pandemic in each jurisdiction and there is no one-size-fits-all approach. In particular, the document, considering the different ways the Principles have so far been used in practice, aims to:
The open nature of the Principles furnishes the parties and interpreters with a much-needed flexibility in such an extreme context, constituting an efficient tool to offer a nuanced solution that can help preserve valuable contracts for the parties. Especially in mid-to-long term contracts, and in view of the – apparently – temporary nature of the impediment, mechanisms that allow for an adequate renegotiation and proportionate allocation of losses could ultimately help preserve the contract and maximise value for the jurisdiction(s) involved.
Arguably, the world of contracts has never suffered such an unforeseeable, global, and intense interference. Extraordinary situations require extraordinary solutions, and there is a global need to ensure the economic value enshrined in commercial exchanges is not destroyed. The Principles offer state-of-the-art, best-practice tools to deal with the problem; a set of rules that result from years of study and analysis, with the participation and consensus of the most prominent academics and practitioners in the field, from civil law and common law traditions. This instrument is useful for everyone and offers a well-established, tested solution in the area of the law and the legal profession and the administration of justice more broadly.
Recent Case Law
The Rechtbank Amsterdam has rendered a decision referring to COVID and the UNIDROIT Principles:
Summary of the decision prepared by Michael Joachim Bonell and Eleonora Finazzi Agrò
CONTRACT FARMING & COVID-19
The UNIDROIT, the Food and Agriculture Organization of the United Nations (FAO) and the International Fund for Agricultural Development (IFAD) are currently collaborating to prepare a joint document providing guidance on the legal implications of the COVID-19 pandemic on contract farming operations.
Contract farming is a risk management tool based on an agreement between producers and contractors. At the heart of contract farming is an agricultural production contract between the parties: both agree in advance on the terms and conditions for the production (and marketing) of agricultural products. These conditions usually specify in advance the price to be paid to the producer or the way the price is to be determined, the quantity and quality of the product and the obligations related to delivery. The contract may also include more detailed information on how the production will be carried out or if any inputs, such as seeds, fertilizers, and technical advice, will be provided by the contractor.
In 2015, the UNIDROIT/FAO/IFAD Legal Guide on Contract Farming was adopted, providing guidance on the entire relationship, from negotiation to conclusion, including performance and possible breach or termination of the contract. It describes common contract terms and examines legal issues and critical problems that may arise under various practical situations, illustrating how they may be treated under different legal systems.
The COVID-19 pandemic has had both direct and indirect impacts on contract performance. The direct impacts of the pandemic could manifest through the contractor (or their employees) being infected with the virus, or a shortage of components being supplied from an area severely affected by the pandemic. Government measures that can affect contract performance include export bans for particular commodities or shutdown of economic activities. These impacts on contract performance have raised the question of whether contracting parties could invoke the COVID-19 pandemic, or any government measures taken as a result of the pandemic, as an excuse for non-performance or as grounds for requesting to renegotiate their contracts or exercise other remedies.
The document aims at identifying best practices and lessons learnt from laws and practice in order to strengthen the legal framework underpinning contract farming. It will include analysis, based on the UNIDROIT/FAO/IFAD Legal Guide on Contract Farming, on how contract clauses on force majeure, hardship/change of circumstances and remedies would apply in the current situation. It will also provide advice for the design or adaptation of contract farming arrangements to accommodate similar future pandemic situations and on what elements should be taken into consideration in negotiating and drafting such clauses. Guidance will be given on preparing more flexible contracts which consider the need for adjustments and for cooperation in overcoming difficulties in performing the contracts, with a view to promoting a fair balance of risks between the contracting parties.
CONVENTION ON INTERNATIONAL INTERESTS IN MOBILE EQUIPMENT AND ITS PROTOCOLS
The Convention on International Interests in Mobile Equipment (commonly referred to as the Cape Town Convention) is one of the most successful commercial law treaties ever adopted. It facilitates the efficient financing and leasing of mobile equipment by reducing risks for financiers and reduces the cost of credit in States that have ratified the treaty.
The Convention applies to specific categories of mobile equipment through Protocols. This includes the aviation sector (2001 Aircraft Protocol); the rail sector (2007 Luxembourg Rail Protocol); the space sector (2012 Space Protocol); and the mining, agriculture and construction (MAC) sectors (2019 MAC Protocol):
The Cape Town Convention has 81 Contracting States. The International Registry to the Aircraft Protocol has been used by financiers over one million times to register and thereby protect their loans and leases. Studies have shown that the adoption of the Aircraft Protocol by an average country could save it between 7.6 billion and 11.1 billion USD over a twenty-year period. Furthermore, an economic assessment of the recently concluded MAC Protocol estimates that over a ten-year period, the MAC Protocol may increase the stock of MAC equipment in developing countries by 90 billion USD. The MAC Protocol is predicted to have a positive impact of 23 billion USD on GDP in developing countries and of 7 billion USD in developed countries, for a total impact on GDP equivalent to 30 billion USD a year.
The global financial contraction caused by COVID-19 has reduced access to credit in many countries. Access to credit is crucial in times of crisis as it serves as a mechanism for companies to continue their operations and return to profitability. The industries to which the Cape Town Convention and its Protocols apply are central pillars of the economies in most countries and will be critical in lifting the global economy out of recession.
While the Aircraft Protocol has been broadly ratified, the Rail, Space and MAC Protocols are not yet widely used. States should be looking to ratify all Protocols to the Cape Town Convention now in order to facilitate access to credit for their industries during the economic recovery from COVID-19.
The unprecedented economic disruption caused by the COVID-19 pandemic in the Rail Sector is the focus of an article recently published by Mr Howard Rosen, Chairman of the Rail Working Group.
AGRICULTURAL LAND INVESTMENT CONTRACTS (ALIC) & COVID-19
In collaboration with FAO and IFAD, UNIDROIT is preparing a future Legal Guide on Agricultural Land Investment Contracts (ALIC Guide), to cater for the needs of legal counsels working on the leasing of agricultural land from States and local communities.
The ALIC Guide is the second international instrument to be developed under the ongoing partnership in the area of private law and agricultural development. It seeks to raise awareness of alternative investment models beyond the outright purchase of land that are consistent with the international principles and standards laid out in the Voluntary Guidelines on the Responsible Governance of Tenure of Land, Fisheries and Forests in the Context of National Food Security (VGGT), the CFS Principles for Responsible Investment in Agriculture and Food Systems (CFS-RAI Principles) and the UN Guiding Principles on Business and Human Rights. The ALIC Guide will help to ensure that leases of agricultural land are done responsibly, with necessary safeguards to protect human rights, livelihoods, food security, nutrition and the environment, and that stakeholders’ rights, including those of legitimate tenure right holders, are both protected and respected.
The Guide is addressed to parties and legal professionals engaging in the preparation, negotiation, implementation, and review of agricultural land investment contracts. The Guide may also serve as a useful reference for other actors, including legislators, policymakers, government officials, public authorities, judges, arbitrators, mediators, public-interest legal service organisations, community organisations, law societies and international development organisations.
COVID-19 has brought several new challenges while also exacerbating old problems for agricultural investment, including concerns that it will lead to new land grabbing cases, land conflicts, forced evictions and food insecurity. The pandemic may also interfere with the execution of commercial contracts in a number of ways. For example, the performance of contractual obligations adopted under an ALIC may no longer be possible due to illness or because the producer must abide by containment measures to avoid the spread of COVID-19. In these cases, contracting parties may find themselves asking whether they can invoke COVID-19, or any government measure taken in view of the pandemic, as an excuse for non-performance.
In other cases, while contractual performance may still be possible, COVID-19 may lead to circumstances which render contractual compliance excessively difficult and, in these cases, the contracting parties may wonder if it is possible to renegotiate their contractual arrangements. Moreover, an investor may decide to pull out of an agricultural land investment early due to a collapse in the market demand for agricultural products. In this case, what are the remedies for breach? In times of unpredictability, it becomes necessary to rethink traditional legal frameworks and the adaptability of certain traditional contractual concepts, such as “force majeure” and “hardship” clauses. It is therefore important to analyse whether contracting parties may invoke COVID-19 as an excuse for non-performance, and if so, based on which concepts and under what conditions.
The ALIC Guide may also provide guidance on how to adapt consultations with affected communities and legitimate tenure right holders. For instance, regarding the requirement of free, prior, informed consent (FPIC) which is especially important where indigenous peoples are involved, if for some reason it becomes difficult to organise in-person consultations, the ALIC Guide recommends that the investment planning phase should be paused, and governments should suspend procedures for authorising new agricultural land investments. This may occur when governments adopt lockdown measures due to a global or regional pandemic. Under these circumstances, future contracting parties may consider using other means to seek agreement of communities, for example, through digital technology, however, this practice may be controversial due to a lack of internet access or gaps in digital literacy. The safety of the community should prevail in times of health crisis.
SECRETARY-GENERAL SPEAKS AT EBRD WEBINAR ON RESTRUCTURING IN THE COVID-19 ERA
On 14 October 2020, Secretary-General Ignacio Tirado participated in a Webinar organised by the European Bank for Reconstruction and Development (EBRD) focussing on the cost of possible missed opportunities to implement reform in the midst of the Covid-19 crisis.
COVID-19 AND UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS SOLUTIONS
On 3 September 2020, Secretary-General Ignacio Tirado spoke in a webinar presented by the IBA Arbitration Committee, IBA European Regional Forum, IBA International Commerce and Distribution Committee, IBA Litigation Committee and supported by the IBA Corporate and M&A Law Committee.
-> More information and webinar video
UNIDROIT AT IBA WEBINAR ON THE IMPACT OF LOCKDOWN ON INTERNATIONAL AGRICULTURAL TRADE
On Tuesday 14 July 2020, Ms Priscila Pereira de Andrade represented UNIDROIT at a webinar presented by the IBA Agricultural Law Committee and the Ukrainian Bar Association, supported by the IBA European Regional Forum, the IBA International Commerce and Distribution Committee and the IBA International Trade and Customs Law Committee, addressing the Impact of Lockdown on International Agricultural Trade. The webinar was aimed at providing insight on the new challenges faced by agricultural business and the international regulation of trade; export and import restrictions in commodities trade and its effect on sale contracts; and quality, safety of goods and international trade in GMO products. It was co-moderated by Sönke Lund (Grupo Gispert, Barcelona; Vice Chair, IBA Alternative and New Law Business Structures Committee) and Sara Moyo (Honey & Blanckenberg, Harare; Co-Chair, IBA Agricultural Law Section). Fellow panellists included Daniela Corona (Luiss Guido Carli University, Rome), Jens Karsten (KWG Rechtsanwälte, Brussels), Ivan Kasynyuk (AGA Partners, Kyiv), Andriana Martyniv (Martyniv Law Firm, Food and Agriculture Organization of the United Nations, Kiev), and Adeniji Oni (Niji Oni & Co, Lagos).
-> Video and further information
UNIDROIT AT OAS WEBINAR ON ACCESS TO CREDIT IN A POST COVID-19 ECONOMY
On Monday 13 July 2020, Deputy Secretary-General, Professor Anna Veneziano participated as a panellist in a webinar organised by the Organization of American States (OAS) discussing mechanisms for the improvement of access to credit in a post Covid-19 economy.
Fellow panellists included Dr. Valeria Piñeiro, (Economist, Markets, Trade, and Institutions Division, International Food Policy Research Institute, Washington, D.C), Dr. Jeannette Tramhel (Senior Legal Officer, Department of International Law, Secretariat for Legal Affairs, OAS), Dr. Marek Dubovec (Executive Director, Kozolchyk National Law Center (NatLaw), Tucson, Arizona), and Dr. Dante Negro (Director, Department of International Law, Secretariat for Legal Affairs, OAS) moderated the session and provided the closing remarks.
-> Video and further information
We are pleased to announce the launch of the UNIDROIT Essay Competition, supported by Stibbe, and facilitated by the UNIDROIT Foundation.
Participants are invited to author an essay in English between 2000-3000 words (excluding footnotes and references) examining the impact and usefulness of UNIDROIT instruments either during the COVID-19 pandemic, or in the post COVID-19 economy.
The focus of this essay should be any relevant UNIDROIT instrument such as the UNIDROIT Principles on International Commercial Contracts, the Convention on International Interests in Mobile Equipment and its Protocols, the 1995 UNIDROIT Convention on Stolen or Illegally Exported Cultural Objects, the UNIDROIT-FAO-IFAD Legal Guides on Contract Farming, and/or Agricultural Land Investment Contracts, among others.
The top five essay received will be rewarded in the following manner:
The deadline for submission is 7 September 2020 (CET). Please send your entries via email in PDF format to info@unidroitfoundation.org with ‘Essay Competition’ in the subject line.
Each participant is permitted to make one submission. All copyrights to the essays submitted shall be retained by the authors. The UNIDROIT Secretariat shall seek express consent from the authors to publish their manuscripts on UNIDROIT’s platforms. No revisions or alterations to the entry shall be allowed or accepted. Please contact info@unidroitfoundation.org for any questions or concerns.
In the interest of the health and safety of all permanent, temporary and visiting staff, including interns and scholars using the UNIDROIT Library, as well as other visitors and guests, and in light of the situation relating to the Declared National State of Emergency in Italy linked to the Novel Corona Virus (COVID-19), UNIDROIT has adopted the following preventive measures and emergency management policy.
Kindly note that UNIDROIT is following the situation closely and reassesses the measures taken on a weekly basis, or as the circumstances require. Despite the uncertainties posed by the fluctuating conditions, the Institute has remained open and operational throughout the crisis.
PERSONNEL AND WORKING ARRANGEMENTS
Office Instructions were first adopted during the month of February 2020 with precautionary measures and were subsequently updated to comply with the guidelines issued by the Ministry of Foreign Affairs and Italian Law. The Secretary-General has also kept Unidroit guests apprised of the situation as it has evolved with specific office instructions as necessary. The Institute has been following the rules of social distancing and hygiene since the beginning of the crisis. The Secretariat has provided for full disinfection of the premises, and has the surface and office space to work with full staff in the building at distances well over the recommended limit, provided there are no visitors. Flexible or full remote working arrangements have been adopted as needed from 10 March 2020. The Secretariat has purchased masks for its employees, and separators to be placed between meeting participants and visitors in the library.
In addition to the instructions above, the Secretariat has displayed information prepared by the World Health Organisation (WHO) on the basic protective measures in place on every floor and in the hallways to raise awareness about the importance of:
ACCESS TO THE UNIDROIT LIBRARY
Visitors who wish to consult the Library’s collection are kindly requested to apply by e-mail and to abide by the safety rules applicable within the Institute, specifically concerning prior travel to high-risk areas and quarantine requirements. The same applies to Interns and Scholars who have submitted their applications, who are being contacted and, if feasible, invited to the Institute, which, thanks to the conditions of the Library, which allows for appropriate social distancing and hygiene for its guests. Due to travel restrictions and the evolution of the pandemic across the globe, invitations are still issued on an ad hoc basis.
MISSIONS
Staff missions were initially approved on a case-by-case basis, and subsequently suspended in light of the expansion of the epidemic and related travel restrictions. As international travel resumes, the Secretariat shall assess the costs and benefits of each mission on a case by case basis.
MEETINGS
As mentioned above, the Institute has continued to fulfil its mission in compliance with global and local health and safety regulations since the beginning of this crisis, as a result, one meeting that could not be held remotely was postponed but all other scheduled meetings were held through a remote decision-making process or discussions were held via videoconference. The Secretary-General and staff are in constant contact with all participants to keep them apprised of the situation and have developed the following innovative approaches to avoid unnecessary delays. Thanks to the adoption of remote or hybrid meeting formats, no meetings of the governing bodies of the Institute have been delayed, thus guaranteeing the fully functional governance of UNIDROIT.
Likewise, the Secretariat has successfully been able to meet its objectives as far as the progress of its projects are concerned, and is planning more events to take place in the future. Please consult our Forthcoming events and News Page for all the updates.
Professor Iacopo Donati is the UNIDROIT/Bank of Italy Chair Holder and is mainly responsible for assisting in the Bank Insolvency project. He is Professor of Corporate and Insolvency Law at the University of Siena, and coordinates the research project ‘Pro.Re.Ba.’ (Proportionating rules on bank crisis prevention and management to the case of retail banks), which has received funding from the Italian Ministry of University. He has previously taught corporate law at the University of Venice ‘Ca’ Foscari’, at the University of Florence and at the University of Rome ‘Tor Vergata’.
Professor Donati is the author of several publications on corporate law, restructuring, insolvency law, and bank crisis management. On the same topics, he has been invited as a speaker to various international and national conferences and participated in some high-impact international, European, and national research projects. Professor Donati’s education includes a Ph.D. in Corporate Law (University of Rome ‘La Sapienza’), an LLM in Corporate Governance (Stanford Law School), and a Law Degree with honors (University of Florence). He is qualified as an attorney in Italy and in the State of New York (USA).
Ms Olga Fonotova is an Associate Professor of the Faculty of Law (Department of Legal Regulation of Business) at the Russian National Research University “Higher School of Economics” in Moscow. She holds a PhD degree cum laude in private law / private international law from the Lomonosov Moscow State University (2006). Her academic and teaching interests cover private international law, international and national commercial law, with a focus on unified and non-state legal regulation of cross-border commerce.
Olga is a Russian law qualified practicing lawyer in the sphere of national and international commercial and corporate law with 20+ years’ experience in leading law firms. As part of her legal practice, she has advised multinational corporations on the setting up of multi-jurisdictional commercial relations, on the formation / termination of international joint ventures, restructuring of assets, and financing / refinancing of projects. For her work on commercial and corporate legal matters she was included in the international rating of leading lawyers “The Best Lawyers® in Russia” (2018 – 2022).
She is a UNIDROIT alumna (2011) and a Correspondent of UNIDROIT in Russia (2023 – 2025). From 2016 to 2021 Olga was a member of the ICC Commission on Commercial Law and Practice (ICC CLP) and a member of the Association of European Business (AEB) in Moscow.
Allan M. Mukuki, PhD Candidate (Navarra, Spain), LLM (Groningen, Netherlands), PGDip (KSL), LLB (Hons) (UoN), ACIArb (London), Advocate of the High Court of Kenya.
Allan Mukuki is an Advocate of the High Court of Kenya as well as a Commissioner for Oaths. He is presently a PhD Candidate at the University of Navarra in Spain. He is also a holder of an LL.M in International Law and the Law of International Organizations, from the University of Groningen in the Netherlands. He has an LL. B (Hons) from the University of Nairobi, he is a Member of the Cha
rtered Institute of Arbitrators (London). He further holds a post-graduate diploma in law from the Kenya School of Law. Allan is also a scholar from the Hague Academy of International Law.
Some of his many roles in the legal profession include Director of International Partnerships; a Doctoral Fellow; member of the Management Committee and moot court coordinator, all for Strathmore Law School; Research Fellow for the African Region (Kenya), for the European Research Council Grant Project on the interpretation of customary international law; and Acting Director for the Strathmore Institute of Advanced Studies in International Criminal Justice (SIASIC)
Allan has previously worked at A.F Gross Advocate; in various legal institutes; in governmental agencies and in the Judiciary of Kenya. He was also a Legal researcher in the Office of the Solicitor General, Kenya, for the Maritime Delimitation in the Indian Ocean (Somalia v. Kenya), a case that was before the International Court of Justice. His main areas of specialization include Public International Law, The Law of International Organizations, International Humanitarian Law, International and Regional (EAC) Refugee Law and Legal Policy Development.
Further, Allan has been involved in various national and international legal consultancies and projects; he has published several peer reviewed legal articles, a legal monograph and presented several legal papers in international conferences around the world. He has also developed several policy documents for Strathmore University as well as (currently operational) manuals and laws for the operation of the Judiciary as well as governmental agencies and regional agencies such as IGAD.
ANDREA SANTACOLOMA
Director
PROFESSIONAL PRACTICE
Andrea Santacoloma is a Panamanian lawyer that focuses her practice on international commercial arbitration.
Prior to joining Adell & Merizalde, Andrea was the Deputy Director for Latin America of the ICC International Court of Arbitration for 5 years. In this role, she gained vast experience in the internal functioning of the ICC’s Secretariat and Court and saw first-hand the work of hundreds of arbitrators and ICC Court Members in the region. Andrea was also in charge of identifying new opportunities and potential users of the ICC Dispute Resolution Services (ICC DRS) in Latin America, in liaison with the ICC National Committees and other institutions in the region. She also worked as a lawyer advising local and international clients on business and corporate law and M&A in 3 Panamanian law firms.
She is currently the Executive Director of the Latin American Arbitration Association (ALARB), one of Latin America’s leading associations gathering practitioners and arbitrators, which seeks to encourage the use of arbitration and foster initiatives for the development of international arbitration in the region.
In July 2022, the G
overning Council of the International Institute for the Unification of Private Law (UNIDROIT) appointed Andrea as a Correspondent for Latin America. Namely, Andrea was appointed as a Correspondent for the Republic of Panama for the period 2022-2025.
EDUCATION
• American University Washington College of Law, LL.M. in International Arbitration and Business Law
• International Training Centre of the International Labor Organization (ILO) jointly with the United Nations Commission on International Trade Law (UNCITRAL), Università degli Studi di Torino, and University Institute of European Studies (IUSE), LL.M. in International Trade Law & Dispute Resolution
• Universidad Católica Santa María La Antigua, LL.M. in Corporate Law
• Universidad Católica Santa María La Antigua, Degree in Law and Political Science
• Centro de Estudios Regionales de Panamá, Diploma in Entrepreneurship and Management of Small and Medium Enterprises
Bar admissions
Republic of Panama
Languages
Spanish, English, Italian (intermediate)
asantacoloma@adellmerizalde.com
+507 370 4155
NAME: PROF. DR. HERNANY VEYTIA (LL.M. YALE)
AFFILIATION DIRECTOR BNM-CAMBRIDGE STUDY CENTRE ON SUSTAINABLE INVESTMENTS
PRESENTATION
Professor of law, international strategic consultant, arbitrator, and entrepreneur. Hernany Veytia is very comfortable with complex, high-profile and confidential transactions. Her consulting experience as partner of BNM and Deloitte enables her to focus on and add value to the sustainable and commercial aspects of each deal. Frequently she leads transdisciplinary teams to deliver fact findings and legal opinions, feasibility studies and turn-key projects for banks, governments, international organisations, and corporations willing to expand or withdraw operations in other jurisdictions.
In Prof Veytia’s experience UNIDROIT works have been very useful to understand not only the foreign law, but also to recognise the cultural, political, and economic factors at play, and the way national and international regulators operate-and cooperate. In her opinion, UNIDROIT instruments have been of utmost importance for the legal strategies she designed for:
• DANPREIT (Dispute Analytics Platform for Real Estate Investment Trusts in the Agriculture, Construction and Mining industries).
• TELEKAIROS, innovative methodology that incorporates the use of space assets.
• Corporate art collections, restitutions, including donations, sponsorships, and loans to museums.
• Contracts used by a German waterworks company willing to grow in all the Caribbean and Central American countries.
• Liquidation of commercial and investment banks
• IPOs and reverse mergers for companies in the extraction industries (Canadian stock exchange), ILS listed in Bermuda and African sovereign funds listed in London.
• Franchising and other commercial contracts in the food & drinks, health, aero-space, and automotive industries.
In the last three decades Prof. Veytia has lived, and successfully completed investments and disinvestments in more than forty countries in the five Continents. She is frequently appointed as arbitrator and invited as speaker on risk transfers at international industry conferences in fields of her expertise: energy (both renewable and traditional), artificial intelligence, infrastructure, mining, real estate, agriculture, rail, space, automotive, and franchising. She sits in the board of directors of companies in Europe including the United Kingdom.
Anna Veneziano is the Deputy Secretary General of the International Institute for the Unification of Private Law (UNIDROIT). She is a Professor of Comparative Law at the University of Teramo, Italy, where she was formerly the Director of the Department of Private Law. She has also formerly been a tenured Professor of European Property Law at the University of Amsterdam (UvA). Her education includes a Law Degree with honours from the University of Rome La Sapienza, an LL.M degree from the Yale Law School funded by a Fulbright scholarship, and a PhD degree from the University of Florence (Italy).
Her main research and publication areas are on secured transactions as well as international, comparative, and European contract and sales law. Before joining UNIDROIT she was a member of the Italian delegation with respect to the Cape Town Convention on International Interests on Mobile Equipment and its Aircraft Protocol as well as its Space Protocol. She was also a member of the Study Group on a European Civil Code and of the Compilation and Redaction Group on a Draft Common Frame of Reference on European Private Law (DCFR), and of the restricted Expert Group set up by the European Commission on a common European law on sales.
P
rofessor Ignacio Tirado was appointed Secretary-General by the Governing Council at its 97th session, and officially took office on 27 August 2018. A national of Spain, Professor Tirado (Commercial, Corporate and Insolvency Law, Universidad Autónoma of Madrid, Spain) holds a PhD from the Universities of Bologna and Autónoma de Madrid and an LLM from the University of London. Professor Tirado has been a Senior Legal Consultant at the World Bank’s Legal Vice-Presidency and Financial Sector Practice for more than nine years, having also consulted for the IMF on insolvency related matters as well as for the Asian Development Bank on commercial legal reform.
Amongst other accolades to his professional experience, Professor Tirado is a founding member of the European Banking Institute, an International Fellow of the American College of Bankruptcy and has been Director and Academic Co-Chair of the International Insolvency Institute.
A Swedish national, Ms Lena Peters grew up in Italy where she attended an English school. In 1978 she took her Juris Kandidatexamen at Stockholm University followed by a Master of Laws from King’s College, London (1979). Since 1985 she has been with UNIDROIT, first as Research Officer, lastly as Principal Legal Officer, her main duties being Secretary to the Working Group for the Preparation of Principles of International Commercial Contracts, Secretary to the Study Group on Franchising, Secretary to the Committee of Governmental Experts on Franchising.She also collaborated on the project for the preparation of the ELI-Unidroit Model European Rules of Civil Procedure. She is currently Managing Editor of the Uniform Law Review and responsible for publications at UNIDROIT.
Marina Schneider is Principal Legal Officer and Treaty Depositary at UNIDROIT. She studied law at the University of Strasbourg (France) and Paris I – Panthéon Sorbonne. She joined the UNIDROIT in 1987 and was involved in the elaboration and French versions of most UNIDROIT instruments since. She is in charge of the 1995 UNIDROIT Convention on Stolen or Illegally Exported Cultural Objects and of the UNESCO-UNIDROIT Model Provisions on State Ownership of Undiscovered Cultural Objects. She is the author of the Explanatory Report of the 1995 Convention and many articles on the Convention and other international instruments in the field. Ms Schneider is also responsible for the project on private collections and for the UNIDROIT Convention Academic Project (UCAP). She is member of the Board of the International Society for Research on Art and Cultural Heritage Law (ISCHAL).
Professor of Commercial Law, Carlos III University of Madrid. Currently, Sir Roy Goode Scholar at UNIDROIT, Rome, 2021-2022. Chair of Excellence 2017-2018 at University of Oxford (Uc3m- Santander Program), affiliated to Harris Manchester College. Previously Distinguished Visiting Professor and fellow of a number of Academic Institutions. Arbitrator of Madrid Court of Arbitration. Member of ELI (European Law Institute) Council and Executive Committee. Member of the Expert Group of the European Commission on Liability and New Technologies and member of the Expert Group of the European Observatory of Platform Economy; the International Academy of Commercial and Consumer Law; the expert group of the Inclusive Global Legal Innovation Platform for Online Dispute Resolution – UNCITRAL and Hong Kong Department of Justice. Expert of the UNIDROIT Study Group on the MAC Protocol of the Cape Town Convention on International Interests. Delegate of Spain to UNIDROIT for the adoption of the Protocol, delegate of Spain in Working Group VI of UNCITRAL on secured transactions and in Working Group IV on Electronic Commerce. Member of UNIDROIT Working Groups on Enforcement and Warehouse Receipts.
William Brydie-Watson is an Australian lawyer who specialises in secured transactions law and private international law. Before joining UNIDROIT, William was a government lawyer in the Private International Law and International Arbitration section of the Australian Attorney-General’s Department, where he worked primarily on treaty negotiation and the implementation of private international law treaties in Australia. At UNIDROIT, he is primarily responsible for the implementation of the Mining, Agriculture and Construction (MAC Protocol) to the 2001 Cape Town Convention on International Interests in Mobile Equipment and the development of a Model Law on Factoring. William also serves as UNIDROIT’s liaison with the Asia Pacific Economic Cooperation (APEC) forum and as manager of the Institute’s Scholarship and Internship Programme. Admitted to practice in New South Wales and the High Court of Australia, he has a Bachelor of Arts (honours), a Bachelor of Laws and a Master of Laws from the Australian National University. William also lectures on International Secured Transactions Law at the Eotvos Lorand Faculty of Law in Budapest.
