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In international arbitration few issues have been as controversial as the foreign enforcement of an arbitral award that has been annulled in its originating jurisdiction. As more and more jurisdictions challenge such annulments, the issue has attracted the intense scrutiny of practitioners and scholars.
This book provides an analysis of the sources, legal and practical grounds, and possible solutions of the problem, particularly as it affects international business transactions in the global economy. Dr Gharavi analyzes the relevant provisions in all major international arbitration conventions, as well as national laws on the annulment and enforcement of arbitral awards in force in more than 50 different countries.
With attention to theoretical and practical perspectives - especially as they reveal the dangers to which the enforcement of annulled awards can subject international business operators - Dr Gharavi arrives, after consideration of all interests, at a global resolution aiming to establish an effective and harmonious international legal framework for the control of awards in accordance with the nature and mission of arbitration.
This book should be of interest to practitioners and scholars in the field of international arbitration. Its subject matter highlights not only the deviations and shortcomings of the arbitral process, but also the sensitive issues of state sovereignty, international co-operation, and the harmony of international relations.