Germany / 19 January 2005 / Oberlandesgericht Düsseldorf / I-26 Sch 05/03
|Germany, Oberlandesgericht Düsseldorf (Higher Regional Court of Düsseldorf)
|19 January 2005
|I-26 Sch 05/03
|Applicable NYC Provisions
|V | V(1)(e)
|A company obtained a favorable arbitral award in arbitration proceedings conducted pursuant to the arbitration rules of the Bucharest Court of International Commercial Arbitration and sought enforcement of the award in Germany. The Respondent objected to the enforcement on the grounds that the Romanian Supreme Court had ordered the Applicant to pay certain sums to the Respondent, which would set off the Applicant’s arbitration claims. The Applicant contended that claims for set-off could not be raised in enforcement proceedings. It also raised various other defenses against the claim for set-off. The Oberlandesgericht refused enforcement. The Oberlandesgericht (Higher Regional Court) Düsseldorf stated that under Article V(1)(e) NYC in order for a foreign award to be enforceable it had to have become binding pursuant to the relevant law, here German law, which it found to be the case. The Oberlandesgericht also found that there were no grounds to refuse enforcement under Article V(2) NYC. However, it eventually refused enforcement, holding that the Respondent’s set-off claims were both admissible and well-founded.
Adobe Acrobat PDF