United States:
ICSID Award Enforcement And Recognition: Have New York Courts Won An Advantage Over The DC Courts?
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A recent decision in the United States District Court for the
District of Columbia indicates that a split could develop between
the DC and New York courts with regards to the enforcement
procedure of International Centre for the Settlement of Investment
Dispute (ICSID) arbitration.
If such an inconsistency does, in fact, materialise, it
could lead to significant consequences, including a large disparity
with regards to challenges parties will face in seeking
enforcement of the award against a foreign state. Ultimately,
parties could choose to enforce in New York in preference to DC as
a consequence of these hurdles.
Originally published by
www.cdr.com
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