ECOGNITION AND ENFORCEMENT OF FOREIGN ARBITRAL AWARDS IN UKRAINE: COURT PRACTICE TENDENCIES
Journal Title: Правова держава - Year 2018, Vol 31, Issue
Abstract
The article is devoted to the analysis of the court practice of 2013 – first half of 2018 in cases on recognition and enforcement of foreign arbitral awards and its influence on the reformation of the procedural legislation of Ukraine in this field. The cases on recognition and enforcement of arbitral awards have a significant meaning both for the international image and economy of the state. Despite the courts follow a pro-arbitration approach, the court practice in Ukraine for the last 5 years has formed a number of requirements that complicated the procedure of recognition and enforcement of arbitral awards that became a reason for renewing of it. Thus, 15.12.2017 in Ukraine the new procedure came into force that solved some collisions, in particular: 1) the enforcement order shall be issued on the ground of the claim on recognition and enforcement of arbitral award, 2) the amount of recovery under the arbitral award shall be determined including interests and penalty up to the moment of execution, 3) the recovery in the foreign currency shall be converted into the UAH, if claimant is asking for that. Although, a relatively short period of conducting proceedings in cases on recognition and enforcement of arbitral awards under the renew procedure does not allow to estimate its efficiency, the elimination of gaps in law enforcement practice promising the procedure to be prospective.
Authors and Affiliations
O. V. Koch
Keywords
Related Articles
- EP ID EP514250
- DOI 10.18524/2411-2054.2018.31.143482
- Views 86
- Downloads 0
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