Germany / 26 September 2002 / Oberlandesgericht Frankfurt / 26 W 101/02
| Country | Germany |
| Court | Germany, Oberlandesgericht Frankfurt am Main (Higher Regional Court of Frankfurt am Main) |
| Date | 26 September 2002 |
| Case number | 26 W 101/02 |
| Applicable NYC Provisions | V | V(1)(e) |
| Source | DIS |
| Summary | The Kammergericht (Higher Regional Court Berlin) granted enforcement of an arbitral award rendered by the International Chamber of Commerce (ICC) in Sweden, in favor of an Investor against an agency of the Russian Federation. A temporary stay of execution was ordered by a Stockholm court. The Investor brought attachment proceedings before the Landgericht (Regional Court) Frankfurt. The Russian Federation appealed, arguing that the award was not final and binding and should therefore be denied enforcement pursuant to Article V(1)(e) NYC. The Oberlandesgericht (Higher Regional Court) Frankfurt dismissed the appeal, holding that the Russian Federation was estopped from raising that the award was not final and binding, as it had not raised this objection in the previous enforcement proceedings before the Kammergericht. The Oberlandesgericht also rejected that the execution of the award would violate the principle of sovereign immunity. It considered that the Russian Federation had failed to prove that the accounts that had been attached were earmarked for sovereign aims. |
Attachment (1)
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