ISD Illiteracy? - Lessons from U.S. Lawsuits for Recognition and Enforcement of International Arbitration Awards
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The ISD arbitration is commonly regarded as a less time- consuming and inexpensive dispute solution than litigations in domestic courts. This deep-rooted conception might be correct. However, considering that the ISD procedure does not end with the decision of arbitral awards from international arbitration organizations, host countries may be sued in foreign investors’ home countries for recognition and enforcement of arbitral awards. This paper reviews some legal issues derived from recent U.S. lawsuits seeking recognition and enforcement of arbitral awards filed by investors, including jurisdiction under the U.S. Foreign Sovereign Immunities Act, venue, and applicable laws.
Abstract
The ISD arbitration is commonly regarded as a less time- consuming and inexpensive dispute solution than litigations in domestic courts. This deep-rooted conception might be correct. However, considering that the ISD procedure does not end with the decision of arbitral awards from international arbitration organizations, host countries may be sued in foreign investors’ home countries for recognition and enforcement of arbitral awards. This paper reviews some legal issues derived from recent U.S. lawsuits seeking recognition and enforcement of arbitral awards filed by investors, including jurisdiction under the U.S. Foreign Sovereign Immunities Act, venue, and applicable laws.
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