Leonardo Giacchino and Thomas Sturma Publish Article on Post-Judgment Interest in Arbitrations
01 May 17
BETHESDA, MD, 2017 — Dr. Leonardo Giacchino and Thomas Sturma published an article in The Journal of Damages in International Arbitration (Volume 4, Number 1) titled “Trends in Post-Judgement Interest Awarded in Investment Arbitration.”
The article utilized investment arbitration awards published by the International Centre for Settlement of Investment Disputes as well as the Permanent Court of Arbitration and the United Nations Commission on International Trade Law to identify trends in post-judgement interest rates awarded by tribunals. The authors found that in early arbitrations tribunals awarded simple interest rates without providing written explanations of how they arrived at such rates but that in more recent arbitrations tribunals have more frequently awarded compound rates of interest. These compound rates are often proxies for commercial rates of interest that the tribunals calculate by adopting a risk-free rate plus a premium.
Dr. Leonardo Giacchino is a partner at Solutions Economics, LLC in the Washington DC area. He is an economist specializing in international arbitration and competition policy. He has served as damages and regulatory expert in domestic and international courts. Thomas Sturma is a Senior Analyst at Solutions Economics, LLC in the Washington DC area.