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The New York Convention for the Enforcement of Foreign Arbitral Awards
Cross-border equipment lessors and their financiers often prefer binding arbitration clauses in their lease agreements on the assumption that, under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, an arbitral award granted, for example, in the United States would be simple and quick to enforce in the foreign jurisdiction of the lessee. This, however, is not necessarily the case and, in some instances, a foreign arbitral award may be more difficult or time consuming to enforce than simply commencing a lawsuit in the lessee's home jurisdiction.
The New York Convention
The New York Convention is one of several international conventions or treaties governing the enforcement of foreign arbitral awards. It was developed by the United Nations in 1958 and has been ratified by more than 140 countries, including the United States, Canada, Mexico and the BRIC countries, Brazil, Russia, India and China. It is one of the most widely ratified conventions in existence. Other conventions touching on arbitral awards include the 1965 International Centre for Settlement of Investment Disputes Convention on the Settlement of Investment Disputes Between States and Nationals of other States (the “Washington Convention”), the 1975 Inter-American Convention on International Commercial Arbitration (the “Panama Convention”), the 1979 Inter-American Convention on Extraterritorial Validity of Foreign Judgments and Arbitral Awards (the “Montevideo Convention”) and the 1983 Riyadh Arab Agreement for Judicial Cooperation. Furthermore, the United Nations Commission on International Trade Law has developed for adoption by member countries model laws on arbitral procedures covering all stages of the arbitral process from the arbitration agreement, the composition and jurisdiction of the arbitral tribunal and extent of court intervention through the recognition and enforcement of arbitral awards. These model laws have been adopted by more than 60 countries, again, including certain states and provinces in the United States and Canada, Mexico, Russia and India but not Brazil or China (other than Hong Kong and Macao).
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.