ARBITRATION AND INSOLVENCY PROCEEDINGS
ARBITRATION AND INSOLVENCY PROCEEDINGS

Summary/Abstract: In international arbitration, insolvency proceedings pertaining to the estate of a party can have diverging and unpredictable effects: Does the arbitration clause remain valid? Does insolvency result in a stay of pending arbitration? Do national insolvency proceedings acknowledge an arbitral award, in particular for verification purposes? No uniform answer is possible, as most recently demonstrated by the matter Elektrim vs Vivendi. The need for an international Convention going beyond the EC Regulation on Insolvency Proceedings is evident.

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