The Asian Academy of International Law (AAIL) was invited to host a side event at the 8^th Inter-Sessional Meeting of UNCITRAL Working Group III, which was successfully held in Chengdu from 24 to 25 October 2024. The meeting was jointly organised by the United Nations Commission on International Trade Law (UNCITRAL), the Ministry of Commerce of the People’s Republic of China, the Sichuan Provincial People’s Government, and the China International Economic and Trade Arbitration Commission. The hybrid event attracted nearly 100 participants, including country and observer representatives from 38 countries and regions.

On 24 October, AAIL held a highly engaging side event titled ‘Assessment of Damages and Compensation’. The panel discussion focused on the multidimensional aspects of assessment of damages and compensation. The side event was moderated by Ms Teresa Cheng GBM GBS SC JP (Founder Member & Co-Chairman of AAIL; former Secretary for Justice of the Government of the Hong Kong Special Administrative Region) and featured four distinguished speakers from different fields, offering in-depth analyses from diverse perspectives.

The panel discussion commenced with an insightful presentation by Mr Justin Li (Associate at Willkie Farr & Gallagher LLP), who examined the legal principles involved in damage compensation assessment. Mr Lun Yaoguo (Managing Director at FTI Consulting) followed with a comprehensive overview of various valuation methodologies from the perspective of a valuation expert. Mr Michele Potestà (Partner at Lévy Kaufmann-Kohler) provided an extensive analysis of the topic from the standpoint of arbitral tribunals. The session concluded with Ms Deborah Aba Aikins (Legal Adviser and First Secretary of the Permanent Mission of Ghana to the United Nations and Other International Organizations in Vienna), offering unique insights on the issue from the perspective of sovereign States.

During the interactive Q&A session, representatives from various countries actively engaged with the speakers, posing thoughtful questions and engaging in lively discussions.

The side event provided an excellent platform for international legal professionals to explore complex issues related to damage compensation, share experiences, and deepen their understanding of the subject matter, contributing significantly to the overall success of the 8^th Inter-Sessional Meeting.

To view the speech delivered by Ms Cheng at the 8^th Inter-Sessional Meeting of UNCITRAL Working Group III, please click here.