New Saudi Arbitration Regime Diverts From Checkered Past
Law360, New York (June 16, 2016, 6:53 PM EDT) -- A recent decision by a Saudi Arabian court enforcing an $18.5 million international arbitration award may signal that the country's once-challenging arbitral regime is improving for investors, though attorneys say complications stemming from public policy exceptions do remain.
A Riyadh enforcement court confirmed the $18.5 million International Chamber of Commerce award three months after it was transferred from the Board of Grievances following the enactment of two new arbitration laws in the country.
The award was originally issued in London in 2011 to a United Arab Emirates subsidiary of a Greek telecommunications company in an arbitration with an unnamed Saudi data...
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