International investment arbitration has emerged as a vital component of international business law, offering a specialised mechanism for resolving disputes between foreign investors and host States of investment. The enforcement of investment arbitration awards is one of the most critical aspects of the dispute resolution process. Unless the decisions reached were legally binding and effectively […]
Enforcement of Arbitration Awards
Wrongful Refusal to Enforce Arbitral Award: BTS Holding v. Slovakia
In its judgement rendered on 30 June 2022 in the BTS Holding v. Slovakia case, the European Court of Human Rights (the “ECHR”) held that Slovakia violated BTS Holding’s (“BTS”) right to property when its courts arbitrarily refused to enforce an arbitral award against the Slovak National Property Fund (the “NPF”). The ECHR reached this […]
Enforcement of a Foreign ICC Arbitration Award in France Despite Set-Aside Judgements in West Africa
On 11 January 2022, the Paris Court of Appeal agreed to enforce a contract-based ICC arbitration award, despite the final award being previously set aside by the domestic courts of the seat of arbitration, and the underlying contract also being annulled by a foreign court. While this result may be surprising in many jurisdictions, the […]
Limitation Periods for Enforcement of Foreign Arbitration Awards
One of the primary advantages of international arbitration as compared to litigation is the enforceability of arbitration awards internationally. However, the period in which international arbitration awards must be enforced internationally varies drastically depending on the place of enforcement. In the table below (Section IV), we provide a quick reference guide, summarizing the limitation periods […]
Security for Claims in International Arbitration – Preble-Rish Haiti v. BMPAD
In international arbitration, security for claims, also called security for payment,[1] belongs to a category of interim or provisional measures that can be sought prior to the issuance of the final award. If granted by the arbitral tribunal, it consists in “a kind of advance payment designated to guarantee the payment and/or enforcement of the […]
Electronic Arbitration Agreements: Admissibility and Enforceability
The volume of cross-border commercial transactions conducted electronically is growing inexorably from year to year. Companies around the world are also increasingly using new electronic contracting tools. Many legal questions have arisen against the background of this paperless process concerning the enforceability of electronically-signed documents. The same issue arises in relation to the arbitration agreement. […]
2018 Singapore Convention on Mediation
The United Nations Convention on International Settlement Agreements Resulting from Mediation (“Singapore Convention (on Mediation)”) came into force on 12 September 2020. It creates a harmonized framework for cost-effective and prompt enforcement of international mediated settlement agreements, aiming to render mediation more efficient and attractive to commercial parties globally, as an alternative to international arbitration […]
Near-Global Enforceability of Arbitration Awards: Sierra Leone Becomes the 166th State Party to the New York Convention
Sierra Leone became the 166th State Party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the “New York Convention” (the “Convention“), by depositing its instrument of accession to the UN Secretary General on 28 October 2020. The Convention will enter into force for Sierra Leone on 26 January […]
Insolvency and Arbitration: What Issues Arise?
The economic disruption caused by the COVID-19 pandemic is expected to lead many corporations to insolvency, as well as trigger an increase in the number of commercial disputes. Consequently, it is likely businesses will have to face more arbitrations with insolvent entities, or arbitrations brought by bankruptcy trustees, when the right to maintain and dispose […]
