The thesis advocates for recognition and enforcement of arbitral award, considering the requirements of and procedures for the recognition and enforcement of an arbitral award. International arbitration is the preferred mechanism for resolving oil and gas disputes due to its counted advantages over litigation. Most times, the party’s concern is on how the outcome of the arbitration proceeding is to be secured and the procedure to take. This thesis analyzes the legal frameworks for the recognition and enforcement of foreign arbitral awards in England and Wales, Nigeria and United States, laying emphasis on the approach to the implementation, similarities and dissimilarities that exist. In addition, it considers whether the procedure for enforcement reflects the objectives of achieving the effect of an award or if the procedure draws a balance with parties’ choice and restriction of parties’choice. That is to say, there are examples where the procedure for recognition and enforcement is binding without further consideration on the interest of the awardholder or the award-loser (this is analyzed on the aspect of Multi-door courthouse (MDC) system). Within this area of research, relevant international conventions on the recognition and enforcement of an arbitral award are considered, bearing in mind the central aim of this research: legal effect of an award and impact of the conventions in the England and Wales, Nigeria and United States legal systems. The Conventions discussed have guiding principles for recognition and enforcement of award and the countries used as case study have ratified these Convention. However, the thesis evaluates more closely on whether the national laws comply with best international practice standard especially as embodied in New York Convention 1958 (NYC). The NYC is praised as “utmost enactment”, and has been incorporated in the England, Nigeria and United States legal systems. The aim of NYC is the harmonization of the recognition and enforcement procedure among Contracting States, through stipulating for the procedure and grounds for refusal of enforcement of award under its articles III, IV and V. It is appropriate to examine the national courts reactions to these grounds and impact of the NYC standard grounds for refusal of arbitral award to the oil and gas disputes. This research considers whether the national laws used as case study comply with the NYC procedural standard. The thesis finds that the national laws are generally consistent with the NYC. Furthermore, the interpretation given by these legal systems are narrowly or broadly construed, which means consistency is at different levels. The thesis concludes that the effective and appropriate implementation of the recognition and enforcement of award by the judicial system and arbitrators will determine the extent of the law’s efficiency and achievement of the legal effect of an award. In addition, the Courts, parties and arbitrators are enjoined to pay utmost regard to the overriding concept of the law of the recognition and enforcement of an arbitral award.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:577616 |
| Date | January 2013 |
| Creators | Anyichie, Chika Stella |
| Publisher | University of Aberdeen |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=197759 |
Page generated in 0.0021 seconds