Enforcement of Arbitral Awards Against the State in Foreign Investment Disputes
Article from: TDM 1 (2005), in Investor-State Disputes - International Investment Law
When it comes to enforce an arbitral award against the will of the losing party, the axiomatic centrality of the consent of the parties in arbitration falls short. The enforcement of the arbitral award, when it is not voluntary, is the stage of the dispute where the parties have to resort to authority of the national courts. Effective enforceability before national courts is the ultimate feature that makes arbitration a viable alternative to litigation. Enforcement of awards where the unwilling party is a foreign state is even more problematic. Scope of this paper is ...