Under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (the New York Convention), the enforcement of an arbitral award made in one New York Convention State in another New York Convention State is, generally, quick and straightforward. However, complications do arise. For example, what happens when (i) an arbitral award is made in country A, (ii) an application to set aside that arbitral award is made to the national courts of country A, and (iii) enforcement of the award is then sought in country B before determination of the application in country A? Furthermore, what happens when the application in country A is unsuccessful but an appeal is brought against that decision? That was the scene faced by the courts of the British Virgin Isles (BVI) and the Cayman Islands in Conocophillips China Inc v Green Dragon Gas Ltd, which raises interesting public policy issues. This article explores the reasons why different approaches were taken by the BVI and Cayman courts, and the approach which the offshore courts are likely to take in the future.

Statutory Rules on the Enforcement of Foreign Arbitral Awards

The New York Convention provides an extensive enforcement regime, under which foreign arbitral awards shall be enforced by the New York Convention member states, and enforcement may only be refused in a limited number of enumerated exceptions. Its purpose is to facilitate the enforcement of awards, while at the same time upholding the generally recognised principles of justice and respecting the sovereign rights of member states.




Cayman Islands

Twitter LinkedIn Email Save as PDF
More Publications
14 Jul 2020 |

Commercial Real Estate in the Cayman Islands: An Overview

First published by Practical Law: Corporate Real Estate Global Guide - Cayman Islands update 2020. ...

30 Jun 2020 |

Protecting Personal Data – the New Normal

One unanticipated consequence of the COVID pandemic has been the huge increase in the collection of ...

Contributors: Jennifer Parsons
29 Jun 2020 |

Cayman Regulatory Newsletter Q2 2020

Appleby Cayman’s second quarterly publication of the year focuses on regulatory developments, incl...

12 Jun 2020 |

Investment Funds: Opportunities During Covid-19

Fund managers are as affected as anyone by the coronavirus shutdown and while many fund managers con...

26 May 2020 |

Economic Substance in the time of COVID-19

Cayman, like many other jurisdictions, introduced its ES Law in response to international pressure t...

26 May 2020 |

Technology & Innovation Update Q2 2020

Technological developments have been accelerating at an unprecedented pace in Asia - the first regio...

7 May 2020 |

Derivatives – Cayman Counterparty Considerations in Market Uncertainty

In this briefing we consider the enforceability of common set-off clauses found in OTC derivative tr...

Contributors: Dean Bennett
7 May 2020 |

E-signatures – Who needs ink anyway?

The global spread of COVID-19 and the sustained containment protocols in place including social dist...

Contributors: Peter Colegate
5 May 2020 |

The 2020 Cayman Islands Real Estate guide

This country-specific Q&A provides features information on the impact of disruptive technologies...