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.
Click here to continue reading
Originally published by www.cdr.com
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.