Steven Perian KC advises on enforcement of international arbitration award worth approximately US$47 million
Steven Perian KC has advised on the recognition and enforcement in the Commercial Court of a substantial international arbitral award against a foreign state.
Steven Perian KC advised on and drafted the application for recognition and enforcement of the award in England. The Commercial Court granted the application, permitting the award to be enforced as a judgment and entering judgment in favour of the award creditor.
The award comprised US$39.8 million, together with substantial additional sums awarded in another currency, making a total equivalent to approximately US$47 million at the exchange rates prevailing when the award was made, together with substantial interest.
The proceedings raised issues concerning the enforcement of foreign arbitral awards under the Arbitration Act 1996 and the application of the State Immunity Act 1978 to proceedings against a foreign state.
Steven Perian KC’s practice includes international arbitration, mediation and cross-border disputes.
