Arent Fox (JD Supra Netherlands)
1 result for Arent Fox (JD Supra Netherlands)
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ICC award against a PDVSA subsidiary annulled for non-conformity with public policy of the seat of arbitration
To protect enforceability, an arbitral award must conform to the fundamental principles of public policy in the seat of arbitration. The arbitral tribunal’s “clear and convincing evidence” standard of proving corruption was too stringent, in the view of the reviewing court.
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