Book contents
- Frontmatter
- Preface
- Contents
- List of Contributors
- PART I OVERVIEW OF THE FUTURE OF CIVIL JUSTICE AND THE NEW CHALLENGES FACING IT
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: MULTINATIONAL RULES AND SYSTEMS OF DISPUTE RESOLUTION
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ACCOUNTABILITY AND TRANSPARENCY
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: TRANSNATIONAL COOPERATION IN CROSS-BORDER INSOLVENCY
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ELECTRONIC TECHNOLOGIES IN JUDICIAL PROCEEDINGS
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ELECTRONIC TECHNOLOGIES IN JUDICIAL PROCEEDINGS
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: NEW TYPES OF EVIDENCE
- About the Editor
Awards Set Aside in their Country of Origin: Two Incompatible Schools of Thought
Published online by Cambridge University Press: 10 December 2021
- Frontmatter
- Preface
- Contents
- List of Contributors
- PART I OVERVIEW OF THE FUTURE OF CIVIL JUSTICE AND THE NEW CHALLENGES FACING IT
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: MULTINATIONAL RULES AND SYSTEMS OF DISPUTE RESOLUTION
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ACCOUNTABILITY AND TRANSPARENCY
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: TRANSNATIONAL COOPERATION IN CROSS-BORDER INSOLVENCY
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ELECTRONIC TECHNOLOGIES IN JUDICIAL PROCEEDINGS
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: ELECTRONIC TECHNOLOGIES IN JUDICIAL PROCEEDINGS
- PART II NEW CHALLENGES AND THEIR VARIOUS ASPECTS: NEW TYPES OF EVIDENCE
- About the Editor
Summary
INTRODUCTION
I am deeply obliged to the organizers of this World Congress for giving me the opportunity to be co-speaker together with the eminent colleagues Prof Dr Christoph Kern and Prof Dr Linda Silberman.
I would like to thank profoundly the organizers because they have chosen Japan to be the venue for the Congress: As the great Frenchman, Professor for Social Anthropology, Claude Levi-Strauss wrote in his famous book The Other Side of the Moon, writings about Japan, Japan was able to “… modernize itself while at the same time retaining a close connection to its spiritual roots.”
May the Japanese people, as he continues, maintain for a long time “… this precious balance between the traditions of the past and the innovations of the present …; not only for its own good, as it can be for all mankind an example of reflection.”.
Prof Kern rightly pointed out the importance of NYC. With my following remarks, I would like to show the functional interdependence between NYC and Convention States.
RECOGNITION AND ENFORCEMENT OF ARBITRAL AWARDS UNDER THE NEW YORK CONVENTION
The successful challenge of a commercial award at the seat of the arbitral tribunal does not necessarily signify the end of the dispute. The award debtor fears that, despite the final setting aside of the award at the seat, the henceforth annulled award still will be enforced in one of the New York Convention on the Recognition and Enforcement of Arbitral Awards (NYC) contracting states. Conversely, the arbitral creditor, who has been defeated in the setting aside proceedings, is hoping for recognition and enforcement of the annulled award in a country where enforcement of annulled awards can be granted. This constellation generates great legal uncertainty.
The NYC is an instrument of transnational commercial law, arguably the most successful United Nations (UN) Convention, which celebrated its 60th anniversary in 2018. The importance of the NYC is justifiably emphasized, inter alia, because it offers legal certainty to the effect that the national courts of currently almost 167 contracting states will recognize and enforce a foreign award rendered in a country other than that in which recognition 8 or enforcement is sought.
- Type
- Chapter
- Information
- Publisher: IntersentiaPrint publication year: 2021