LLM in Transnational and European Commercial Law, Banking Law, Arbitration/Mediation > Recognition and Enforcement of International Arbitral Awards

Recognition and Enforcement of International Arbitral Awards

Teaching hours and credit allocation: 15 hours, 3 credits
Course assessment: coursework + exam

Aims

This course draws together the knowledge and skills gained in International Commercial Arbitration  and aims to provide students with an insight into the recognition and enforcement of international arbitral awards. The course will address various regulatory issues, practical problems and recent developments associated with the recognition and enforcement of these awards. One of the main reasons for opting for international commercial arbitration is the fact that the parties may enforce an arbitration award in a foreign country more easily than a judgment of the court. Special reference will be made to national laws, international instruments and international institutional rules. The most important instrument in this context is, undoubtedly, the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (New York Convention), since most countries in the world are already parties. The course also examines the difficulties associated with the recognition and enforcement of arbitral awards, in this legal environment.

Learning outcomes

On completing the course, students are expected to be able to:

  • understand the legal and practical issues associated with the recognition and enforcement of international arbitral awards
  • be aware of the different types of recognition and enforcement (foreign and domestic arbitral awards, damages awards, declaratory and specific performance awards, etc.)
  • understand the (limited) scope of judicial review of arbitration awards and the need for safeguarding due process standards

Content

  • The 1958 United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention);
  • The scope of the New York Convention; key definitions (arbitral award, agreement in writing, etc.);
  • The reasons for refusing recognition and enforcement under article V of the New York Convention: incapacity of a party to the arbitration; invalidity of the award; the issue of due process, etc.
  • The 1961 European Convention on International Arbitration; setting aside of the arbitral award under article IX; the issue of due process;
  • The 1965 Convention on the Settlement of Investment Disputes between States and Nationals of Other States (Washington Convention); articles 53-55; laws governing execution;
  • The 1975 Inter-American Convention on International Commercial Arbitration (Panama Convention);
  • The public policy (“ordre public”) of the State in which the recognition and execution is requested;
  • The UNCITRAL Model Law on International Commercial Arbitration;
  • The U.S. Federal Arbitration Act and the practice of U.S. courts on recognition and enforcement of arbitral proceedings and awards;
  • Comparative analysis of the bases for refusing to recognize and execute an arbitral award;
  • The time period for challenging an award;
  • Settlement before and after receiving and arbitral award;
  • Arbitration with sovereign governments; the issue of immunity from enforcement;
  • The issue of forum shopping and asset tracing;
  • Interim orders and attachment of property.