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Partner Juliya Arbisman and associates Alexandre Genest and Emmanuel Giakoumakis have authored a chapter in The Guide to Challenging and Enforcing Arbitration Awards published by Global Arbitration Review. ....
The Paris Court of Appeal has set aside an award against Russia for the expropriation of the Crimean branch of Ukrainian state-owned bank Oschadbank. The court held that the bank had made its investment in Crimea before the Ukraine-Russia Bilateral Investment Treaty's 1992 time limit and that, as such, the tribunal lacked temporal jurisdiction. As Oschadbank intends to appeal, the Court of Cassation will have to decide whether the decision adds a condition to jurisdiction that is absent from the treaty. ....
Introduction France s top court has reinstated a $1.58 billion arbitration award rendered in investment treaty proceedings between Canadian gold miner Rusoro and Venezuela. In its 31 March 2021 decision,(1) the Court of Cassation accepted Rusoro s argument that the limitation period for bringing a claim under the Canada-Venezuela Bilateral Investment Treaty (the Canada-Venezuela BIT) was a question of admissibility and not of the tribunal s jurisdiction to hear the dispute. Accordingly, the Court of Cassation quashed the Paris Court of Appeal s previous ruling that had reached the opposite conclusion. The Court of Cassation s decision guides the future review of arbitral awards by the French courts and adds to the longstanding discussion in investment treaty arbitration about the distinction between the admissibility of a claim and the jurisdiction of an arbitral tribunal. By deciding that the issue of whether the claims were time barred was a question of admissibility ....
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)(2) Recognition and enforcement of an arbitral award may also be refused if the competent authority in the country where recognition and enforcement is sought finds that: (a) The subject matter of the difference is not capable of settlement by arbitration under the law of that country; or ....