Security for costs and enforcement of New York convention arbitration awards

In the case of Diag Human SE v Czech Republic [2013] 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…

If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.

Briefings from Allen & Overy

  • ITC reaffirms its power to bar digital file transfers

    The ITC has reaffirmed its power to ban electronic transmissions from the US where those transmissions infringe an intellectual property right or are otherwise based on an unfair trade practice.

  • Changes to French takeover rules

    A new French law, the ‘Law to recapture the real economy’ (‘Loi visant à reconquérir l’économie réelle’ or ‘Loi Florange’), was made on 1 April 2014.

View more briefings from Allen & Overy

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

One Bishops Square
London
E1 6AD
UK
http://www.allenovery.com

Turnover (£m): 1,189.00
No. of Lawyers: 2,304
No. of Lawyers (Asia Pacific): 357
Offices (Asia Pacific): 10

Jobs