Enforcement of foreign arbitral awards: a London perspective

Abstract

The virtues of international arbitration are well-known. However, without the ability to enforce foreign arbitral awards, in the event of a party to arbitration failing, refusing or otherwise not honouring the award, international arbitration becomes a paper tiger. This is why the possibility of enforcement pursuant to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards is of cardinal importance. Mindful of the UK's treaty obligations under the New York Convention, this paper focuses on the enforcement of foreign arbitral awards from a London perspective. It will do so for two reasons: London has long standing and hard won reputation as one of the truly global centres of international arbitration. It is also recognised as a bellwether for international finance. In light of such recognition, this paper will examine the approach adopted by the English judiciary to international arbitration awards and ultimately their enforcement or otherwise in the courts of England and Wales.