On April 27, 2011, some 86 years after the passage of the US Federal Arbitration Act (“FAA”), five justices of the United States Supreme Court declared that arbitration “as envisioned by the FAA” does not include class arbitration because class arbitration cases (i) predictably involve high stakes which arbitrators are not suited to handle, (ii) [...]
Recently a US district judge in New York dismissed, for improper venue, a New York Convention award-enforcement action against the Republic of Bulgaria by an Israeli company that had won a $10.3 million award against Bulgaria and its Privatization Agency in an ad hoc UNCITRAL Rules arbitration in Paris. The basis for dismissal was that [...]
Last week a US district judge in New York dismissed, for improper venue, a New York Convention award-enforcement action, against the Republic of Bulgaria, by an Israeli company that had won a $10.3 million award against Bulgaria and its Privatization Agency after an ad hoc UNCITRAL Rules arbitration in Paris. The basis for dismissal was [...]
The New York Convention provides in Article VI that a court may stay or postpone decision on an enforcement petition in case an action to set aside the award is pending in a court at the seat of the arbitration. The less-heralded and less-invoked Inter-American (”Panama”) Convention similarly provides in its Article VI that enforcement [...]