Page 2 - Foreign Awards News Today

A general introduction to the legal regime governing international arbitration in Paraguay, including key legislation and formalities.

Nigeria has bilateral investment agreements with 31 countries, 15 of which are in force. It has double taxation treaties with 14 countries and is a signatory to 21 investment-related instruments.

This article presents the legal regime on the enforcement of foreign arbitral awards in Ghana, following the passage of the Alternative Dispute…

Arbitration is the most common and most preferred means of resolving international commercial disputes. The benefits of arbitration include relative speed, privacy, and party autonomy in selection of their umpire.

The scope of New York Convention in terms of the awards falling within its ambit has been a conversational topic and has been widely discussed in the international arbitral community.

In a win for party autonomy, a three-judge bench of the Supreme Court, comprising Mr Justice RF Nariman, Mr Justice BR Gavai and Mr Justice Hrishikesh Roy, has settled a longstanding and controversial question of law by holding that two entities or companies incorporated in India can opt for foreign-seated arbitration and that an award passed in such arbitration would be enforceable in India ( PASL Wind Solutions Private Limited v GE Power Conversion India Private Limited, 20 April 2021). Facts...

Tuesday, May 4, 2021 Two Indian parties are entitled to elect a seat of arbitration outside India; The expression “International Commercial Arbitration” in Part I of the Arbitration Act is party-centric, whereas, when used in the context of Part II signifies a place-centric approach; Resultantly, a foreign seated arbitration between two Indian parties would qualify as “International Commercial Arbitration” under Part II of the Arbitration Act, and enforcement of a foreign awar...

The aforesaid statement [1] depicts the elusive nature of ‘public policy’ in legal proceedings that draw upon its presence in statute, conventions and legal systems. The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 (“ New York Convention”) is a critical international convention that gives room for public policy considerations while assessing enforcement of a foreign arbitral award (foreign award). Article V(2)(b) of the New York Convention states: “(V...