Enforcing arbitration awards on the fringes of EMEA

As more and more investment is made by financial services institutions into the emerging markets of Africa, the Middle East and emerging Europe, enforcement in those jurisdictions is increasingly an issue of central importance. Clearly when selecting a dispute resolution procedure, be it litigation, arbitration or a combination of the two, the ability to enforce a resulting court judgment or arbitral award will be of primary concern. 

On 12 July 2013, Herbert Smith Freehills' global arbitration practice delivered a live audio seminar entitled "Enforcing arbitration awards on the fringes of EMEA" direct to the listener's desktop.  The focus of this session was on local advice in relation to enforcement in each of the regions encompassed within EMEA, namely Europe, the Middle East and Africa, using the experience and insight of our partners who cover these regions.

This was chaired by Nick Peacock, (London) and the speakers were Paula Hodges (London), Craig Tevendale (London) and Vladimir Melnikov (Moscow).

This webinar looked specifically at the way in which different and overlapping enforcement regimes apply in different jurisdictions within EMEA, but particularly in those less predictable legal regimes encompassed within that region.  In many cases, where coverage of treaties providing for reciprocal recognition of judgments is limited, arbitration will be the dispute resolution mechanism of choice, given the wide application of the New York Convention (NYC).

We therefore looked at how the NYC operates both on a theoretical and, more particularly, on a practical level.  Signatory states can differ enormously in how they interpret grounds for refusal under the NYC and as regards the steps that need to be taken to enforce foreign awards.  It is crucial to be aware of these differences on the ground.

If you would like a link to the recording of the webinar, please contact Jane Webber, our Webinar Co-ordinator.  All Herbert Smith Freehills webinars can also be downloaded as podcasts. 

For further information, please contact the speakers or your usual Herbert Smith Freehills contact.  Please click here for further details about other upcoming events.