International Arbitration

EnforcementThe New York Convention

David GreeneEdwin Coe LLP London

Why arbitration for international disputes?

• Neutral• Independent without interference• Confidential• Specialist• Delay• Recognition• Enforceable• Relevance of costs

Recognition and Enforceability

• City a small place• Conservative nature• Move on in rising market• Embarrassment factor• Conflict with other shareholders

What’s changing• 1958 New York Convention• “The single most important pillar on which the

edifice of international arbitration rests”• Why is it important to us and what can we do• Ratification part of the story• Applies to awards that are not considered as

domestic awards• Article II deals with recognition of the arbitration

agreement unless null & void inoperative or incapable of being performed

New York Convention

• Articles III and IV on recognition of award and enforcement under domestic procedure

New York Convention

• Article V Refusal– Incapacity or invalid agreement– No notice of proceedings or otherwise unable

to present case– Dispute outside scope of agreement– Tribunal not in accord with agreement– Award not binding– Subject matter not capable – Public policy (but see European Convention)

The result

• A dispute resolution system that works and underlies international commerce

• The devil is in the detail of the agreement