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PhD Student Wins International Award

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News created: 30 Mar 2011

photo of Mary AyadFaculty of Business and Economics’ PhD student, Mary Ayad, has been awarded thehighly distinguished II International Commercial Arbitration Law award for best technical ICA paper.

The prize is awarded by the International Centre for Arbitration, Mediation and Negotiation (CIAMEN) of the University Institute for European Studies of the CEU San Pablo University, with the participation of the Civil and Mercantile Court of Arbitration and KPMG. The CIAMEN is an academic centre for research, teaching and publishing of materials related to arbitration and other alternative methods of dispute resolution.

Judged by a panel of international judges, Mary’s paper was chosen for its technical, scientific and innovative approach to modern arbitration law. The award winning paper titled "The Quest of the Holy Grail: A Harmonised International Commercial Arbitration Law Code (HICALC) in Investor-State Arbitrations of Oil Concessions and Foreign Investment Treaties and Agreements", focused on the importance of trust in the International Commercial Arbitration (ICA) Law.

Using the Holy Grail metaphor, the paper takes the view that in order for ICA to succeed it must build trust in the justice, fairness, and effectiveness of its proceedings. The paper argues that without these pillars of justice, fairness and effectiveness the ICA will simply be a house of cards rather than the Grail Castle that holds the Holy Chalice of dispute resolution.

Mary credits her supervisors, Professor Peter Gillies and Dr Ruwanthi Niloufer Selvadurai, with “creating the ideal research environment” which allowed her to take up this opportunity and succeed.

Mary will be presented her award by the President of the Permanent Court of Arbitration at the Hugo Groitus Lecture in Spain. The paper will also be published by the International Centre for Arbitration, Mediation and Negotiation.

Mary is a PhD candidate with the Department of Accounting and Corporate Governance. Her dissertation focuses on the International Commercial Arbitration and International Investment Arbitration Law.

The Faculty congratulates Mary Ayad on this great achievement.

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