“With the recent ECJ’s Advocate General opinion on how Achmea might impact intra-EU disputes, doubts have emerged on how either local courts or a dedicated EU court might be satisfactory alternatives to arbitral tribunals.
These are valuable concerns of which there is no shortage of objections. However, there does not yet appear to be enough being made about the enforcement difficulties that these alternatives to arbitration would pose. Enforcement concerns won’t be helped by a specialised EU court or even well-functioning local courts if extra-EU enforcement is more difficult.
Circulation of judgements within the EU is greatly facilitated by the Brussels I Regulation. However, the enforcement of an EU judgement abroad will be more challenging than that of an arbitral award supported by the New York or Washington Conventions. The 2019 Hague Convention on Recognition and Enforcement of Foreign Judgements is a step in the right direction. With only three signatories so far though, there is still a long way to go.”
Vincent Boca, Senior Counsel at Profile Investment
If you have any questions about intra-E disputes, or any other query, please reach out to Vincent on firstname.lastname@example.org
Vincent is a key member of our legal analysis team. Vincent is a qualified attorney having worked in international arbitration in both Paris and Geneva.