15 Enforcement

Subject(s):

Customer obligations and foreign law — Breach of confidentiality — Investment business — Market abuse

This chapter discusses the enforcement of financial awards in international financial disputes. It explains the presumptive validity of arbitral awards and the ‘pro-enforcement’ approach to the recognition and enforcement of awards under the New York Convention and national arbitration statutes. It considers the limited grounds on which enforcement of an award may be challenged under Article V of the New York Convention, and the circumstances in which the courts of Contracting States may adjourn or suspend recognition proceedings pending the resolution of actions to annul an award in the arbitral seat. It summarizes overviews of the enforcement schemes provided under the International Centre for Settlement of Investment Disputes (ICSID), Panama, and Geneva Conventions, and certain practical issues surrounding the tracking of assets of scofflaw award debtors.