Global Legal Update (#02 February 2010)

Recognition and Enforcement of Arbitral Awards in Nigeria and Ukraine under the New York Convention

Peter Kayode Oniemola

International arbitration is a potent mechanism for alternative dispute resolution, which has been employed in international commercial transactions to settle disputes without recourse to litigation. However, the credibility of international arbitration as an effective dispute settlement system depends on arbitral awards being legally binding and enforceable both at the place where they are rendered and at the place where the award debtor has assets or where the award is sought to be enforced…

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