THE PROCEDURAL STEPS REQUIRED TO ENFORCE THE PECUNIARY AWARDS RENDERED UNDER THE AUSPICES OF ICSID IN ROMANIA
THE PROCEDURAL STEPS REQUIRED TO ENFORCE THE PECUNIARY AWARDS RENDERED UNDER THE AUSPICES OF ICSID IN ROMANIA

Summary/Abstract: Through the present study we propose to reconsider the solutions adopted in case law, which, based on the thesis of "assimilation" of the regime of the enforcement of the pecuniary International Centre for Settlement of Investment Disputes (ICSID) awards. noted the following in regard with the procedural steps to be taken to enforce these awards: (i) suppression of any exequatur procedure of the awards; (ii) the awards may be enforced directly in accordance with national rules on the enforcement of judgments.We consider that this course of actions preserves to a greater extent the balance between the effects of the relevant provisions of the ICSID Convention and corresponds to a natural succession of the steps to be taken for the enforcement of pecuniary awards.A negative effect of the interpretation we propose concerns the time frame in which the enfor¬cement of pecuniary awards will be carried out, which will increase following the intro¬duction of an "additional" stage, namely the procedure of "recognition and enfor¬cement" of the award, provided by the provisions of article 54 (2) of the ICSID Convention

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