It is generally accepted that an international arbitration award is final and binding. Unlike a court judgment that can be appealed for factual and legal review, an arbitration award typically can only be challenged based on procedural irregularities, lack of jurisdiction, lack of arbitrability or violation of public policy.
While some exceptions exist, they are limited in application. For example, the English Arbitration Act of 1996 permits appeal on a point of English law if all parties agree or the court grants leave to appeal. The court’s power to grant leave, however, is restricted and requires the court to determine not only that resolution of the question will substantially affect the rights of one or more parties, and that the question was one the tribunal was asked to decide, but also that the tribunal’s decision was obviously wrong or “the question is one of general public importance and the decision of the tribunal is at least open to serious doubt.”
Originally published in Corporate Counsel on July 17, 2015.
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