One of the reasons that parties opt in for arbitration instead of litigation as a mechanism to settle their disputes is that the recognition and enforcement of an arbitral award is easier to accomplish than the recognition and enforcement of a foreign judgment rendered by a state court. The Netherlands has been a party to…
Approximately a year ago, on 19 December 2019, the First Chamber of the Supreme Court of Costa Rica recognized an ICC arbitration award rendered on 10 June 2016 by a tribunal seated in Miami. This case, one of the very few where the New York Convention (“NY Convention”) has been applied by a State court…
Interesting developments in disputes involving Venezuela and its national oil company Petróleos de Venezuela S.A. (PDVSA) took place after Juan Guaidò, the president of the Venezuelan National Assembly, took the interim Presidency of the State in January 2019. Since then, he has adopted a series of measures and intervened in a series of proceedings involving…
