MALAWI BECOMES 167TH CONTRACTING STATE TO THE NEW YORK CONVENTION

Malawi has become the 167th Contracting State to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the ‘Convention’). On 4 March 2021, Malawi deposited its instrument of accession to the Convention with the UN Secretary General. In accordance with article XII (2), the Convention will enter into force for Malawi on 2 June 2021.

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ETHIOPIA ACCEDES TO THE NEW YORK CONVENTION

On 24 August 2020 Ethiopia acceded to the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “Convention“). Ethiopia will become the 165th state party to the Convention, following the recent accession of Tonga in June this year. Under Article XII (2), the Convention will come into force for Ethiopia on 22 November 2020.

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PALAU ACCEDES TO THE 1958 NEW YORK CONVENTION

On 31 March 2020, Palau acceded to the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention” or the “Convention“). With this, Palau becomes the 163rd State party to the Convention, following the recent accessions of Ethiopia, the Seychelles, the Maldives and Papua New Guinea. Palau deposited its instrument of accession on 31 March 2020 and, under Article XII (2) of the Convention, it will come into force on 29 June 2020, 90 days thereafter.

Consistent with Article I.3 of the New York Convention, contracting States are able to ratify or accede subject to certain reservations. Palau is reported by the Secretary-General of the United Nations to have acceded to the New York Convention subject to two common reservations. Palau will apply the Convention (i) on the basis of reciprocity to the recognition and enforcement of arbitral awards made only in the territory of another contracting State, and (ii) only to differences arising out of legal relationships, whether contractual or not, which are considered commercial under the laws of the Republic of Palau.

Palau’s accession is also subject to the Convention only being applicable to arbitral awards concluded after the date of Palau’s accession. The implication of this provision is that any outstanding awards made prior to the Convention coming into effect on 29 June 2020 will not be enforceable in Palau under the Convention. Parties seeking to enforce such awards will need to rely on Palau’s existing domestic enforcement regime.

For more information please contact Chris Parker, Partner, Maguelonne de Brugiere, Senior Associate, or your usual Herbert Smith Freehills contact.

Chris Parker
Chris Parker
Partner
+44 20 7466 2767

Maguelonne de Brugiere
Maguelonne de Brugiere
Senior Associate
+44 20 7466 7488

ETHIOPIA ACCEDES TO 1958 NEW YORK CONVENTION

On 13 February 2020, Ethiopia’s parliament approved accession to the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention” or the “Convention“). Ethiopia will become the 163rd state signatory and the 39th African state to accede following the recent accessions of the Seychelles, Cabo Verde and Sudan.

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THE SEYCHELLES ACCEDES TO 1958 NEW YORK CONVENTION

On 3 February 2020, the Seychelles became the 162nd State party to the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention“).The Seychelles is the latest state to have joined the New York Convention framework following the most recent accessions of Papua New Guinea, Maldives, Cabo Verde and Sudan.

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