Recent Cases Show US Deference To Foreign Arbitral Awards
June 27, 2013, 12:18 PM EDT
Law360, New York (June 27, 2013, 12:18 PM EDT) -- Earlier this year, Argentina announced its intention to withdraw from the International Centre for Settlement of Investment Disputes (“ICSID”), making it the fourth Latin American country to do so and signaling a growing resistance to the obligations imposed by the international arbitration regime — namely, treating ICSID awards as binding and immediately enforceable in any signatory state.
Alongside the public denunciations, certain signatory states have directly challenged ICSID’s authority by raising various and novel defenses to the confirmation and enforcement of ICSID awards in other signatory...
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