Austria, Corporate disputes, Non-arbitrability, Set aside an arbitral award, Shareholder Resolutions

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The setting aside of an arbitral award is a rarity in the Austrian legal landscape. However, on 3 April 2024, the Austrian Supreme Court (the “ASC”) issued a landmark decision setting aside an arbitral award on the grounds of non-arbitrability of the subject matter. As explained below, the court’s reasoning is remarkable and its implications…

Additional Facility Rules, Arbitration Agreements, Awards, Enforceability, Enforcement, New York Convention, Reciprocity, Recognition and enforcement of arbitral award

(Baker McKenzie) and (PARAGON Advocacy)/ /Leave a comment

In a recent decision, the Austrian Supreme Court ruled on the enforceability of an investor-state award rendered under the ICSID Additional Facility Rules. While the Supreme Court found that the award was — in principle — enforceable under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards from 1958 (“NYC“), it upheld the…