The First Enforcement of an Investment Arbitration Award in Australia

Investment treaty arbitration is being increasingly used by investors to protect their international investments. To encourage investment between the contracting states, an investment treaty will commonly confer certain minimum levels of protection on investors from one state with respect to their investments in the other. These protections are typically enforceable by the investor directly against the state party through investment arbitration.

Earlier this year, Ashurst  updated you on recent investment treaty developments in Australia (available here: https://www.disputescentre.com.au/recent-investment-arbitration-developments-australia/). More recently, the Federal Court of Australia in Lahoud v The Democratic Republic of Congo

[2017] FCA 982 has recognised and enforced two investment arbitration awards for the first time. This decision provides confidence that investment arbitration awards will be recognised and enforced in Australia. The Court also confirmed that awards may be enforced against a foreign state, despite foreign state immunity.

This article discusses the reasoning behind, and the implications of, the Federal Court’s decision in Lahoud including how it demonstrates that Australia is a pro-arbitration jurisdiction in line with the objects of the International Arbitration Act 1974 (Cth).

Read the full article HERE 

2019-09-21T11:34:04+10:00

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