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The New York Convention,[1] a key international arbitration instrument designed to facilitate the recognition and enforcement of foreign arbitral awards, was adopted in 1958 under the auspices of the United Nations.
In order to mark the Convention's 50th anniversary, the International Bar Association recently hosted a one-day gathering of international arbitration specialists and enthusiasts in New York City. Some 650 delegates from over 50 countries were in attendance, including Pierre Bienvenu, Managing Partner of the firm and Co-Chair of the International Bar Association's Arbitration Committee. Mr. Bienvenu was one of the members of the Organising Committee for this event, and co-chaired a session dedicated to the New York Convention's future.
Yves Fortier, C.C., Q.C., Chairman of the firm, former Ambassador and Permanent Representative of Canada to the United Nations, and one of the world's leading international arbitrators, brought the event to a close with an address to all delegates at the United Nations' Headquarters in New York. Alongside Nicolas Michel, Under-Secretary-General for Legal Affairs at the United Nations, Mr. Fortier reflected on the successes of the United Nations as "an agent of progress in the international legal field" and emphasized that the New York Convention shines brightly as one of the countless gems of the United Nations' legal crown. Indeed, it has been described as one of the United Nations' greatest achievements in private international law. Today, the New York Convention serves as a driving force behind the success of international arbitration as a means of resolving international business disputes.
THE SIGNIFICANCE OF THE NEW YORK CONVENTION FOR INTERNATIONAL BUSINESS
By identifying and circumscribing the grounds upon which one can object to the recognition and enforcement of international arbitral awards, the New York Convention has allowed international business to reach new heights. In the words of the United Nations' Secretary-General, Mr. Ban Ki-Moon, international investors and companies now have the confidence to expand their business in places they may have otherwise avoided. Over 140 States have become parties to the New York Convention, including Canada in 1986.
The New York Convention does more than ensure the recognition and enforcement of arbitral awards. The Convention also ensures the enforcement of agreements to arbitrate, a crucial determinant of the vitality and success of the arbitral process. A party cannot be forced to participate in an arbitration. It can, however, be compelled to respect its agreement to arbitrate by being denied access to the courts to pursue claims which, by virtue of an arbitration agreement, are subject to arbitral, as opposed to judicial, jurisdiction. This is a key feature of the New York Convention and a necessary component to ensure the success of the arbitral model of dispute resolution.
OGILVY RENAULT'S INTERNATIONAL ARBITRATION EXPERTISE
Ogilvy Renault has Canada's premier international arbitration practice. Throughout the last decade, the members of our international arbitration team have successfully handled both institutional and ad hoc arbitrations all over the world involving a wide array of disputes and a variety of applicable laws. The team's experience includes court proceedings in aid of arbitration as well as recognition and enforcement proceedings in relation to foreign and domestic arbitral awards. In addition, we regularly provide advice on dispute resolution schemes in general and arbitration clauses in particular, with a view to tailoring these to our clients' specific needs and objectives.
Renée Thériault
[1]. Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
The purpose of this document is to provide information as to developments in the law. It does not contain a full analysis of the law nor does it constitute an opinion of Ogilvy Renault LLP or any member of the firm on the points of law discussed.
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Contacts
Pierre Bienvenu
Montréal
514.847.4452
pbienvenu@ogilvyrenault.com
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Stephen L. Drymer
Montréal
514.847.4606
sdrymer@ogilvyrenault.com
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