Security for costs and enforcement of New York convention arbitration awards
In the case of Diag Human SE v Czech Republic  EWHC 3190 (Comm), 25 October 2013, the Commercial Court has confirmed that it has jurisdiction to grant security for costs against claimants seeking to enforce arbitration awards in the English court under the New York Convention. Despite the Commercial Court refusing to exercise its discretion based on the facts of the instant case, it nonetheless confirmed the existence that the court has such a power.
Diag Human SE, the applicant, a company incorporated in Lichtenstein, had brought arbitral proceedings in the Czech Republic against the Czech government in 1996 seeking damages arising out of the termination of a commercial contract between Diag and its major supplier, which occurred as a result of the Czech government’s actions…
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