Enforcement Of International Arbitration Awards From The View Of The Yukos

The Yukos case arbitration is an interim arbitration conducted by The Hague Arbitraction Court.The arbitration is appointed by the Arbitration Authority to form an arbitral tribunal in accordance with the UNCITRAL Arbitration Rules.The arbitration award made by the arbitral tribunal in this case is final,but the court of the place of arbitration has the power to conduct a judicial review of it in accordance with the law of the place of arbitration.This also gives Russia the opportunity to apply for the abolition of the judgment at the Hague court.In the end,the Hague Court also withdrew the Yukos case award in accordance with the Dutch law.But there are many problems in the implement of the arbitration award.The case is thought to be “history's biggest arbitration award”.At least five investment arbitration proceedings have been commenced to date(collectively the “Yukos arbitrations”),as well as a claim before the European Court of Human Rights.Although Russia denies any State impropriety,the Yukos camp has largely persuaded Western opinion leaders that it was the victim.The proceedings of the arbitration award provide a background that a successful sue make the defend enforce the arbitration award by using the rules.The essay is try to discuss how to enforce the arbitration awards.It is also about how to enforce international investment arbitration award.It is meaningful for sovereign country as well as developing country.This article is based on the applicable national laws and treaty obligations of Russia to enforce foreign arbitration awards,and the enforcement of arbitration awards is the ultimate purpose and result of the whole arbitration procedure.Therefore,it is very important for international business,since the arbitral award is not executed smoothly and expeditiously,the arbitral award is of no use.As we know,arbitration has recently become important due to the tremendous growth and expansion of international trade and investment between different countries.Therefore,because of its great advantage arbitration becomes the preferred mechanism for resolving disputes.Arbitration is a quicker and simpler way to solve various international and commercial,civil and economic disputes in Russia,China and other countries.Thus,unless arbitration is performed in accordance with legal and international treaty obligations,arbitration will be useless,wasting effort,time and money.With the rapid growth of foreign investment in recent years,the dispute between Chinese enterprises and the host government began to emerge.At the same time,as a foreign capital,the Chinese government has begun to face individual foreign investors to apply for arbitration.In this context,even if you do not consider the amount of compensation for the case of Yukos v.Russia,and ignore the large proportion of China's foreign investment in the energy field,the enforcement ways of the arbitration awards in involved in the case is important for Chinese enterprises.It is also important to do so in the future where investment arbitration wins.In addition to the introduction and conclusion,this paper has four parts.The first chapter analyzes the obligations of the Yukos Arbitration Award,including bilateral investment agreements and multilateral treaties.The first chapter analyzes the facts and arbitration of the Yukos case.The analysis of bilateral investment treaties in the first part divides Russia's bilateral treaties into three stages.The bilateral investment agreements of the former Soviet Union stipulate some forms of contracting parties' compliance with their arbitral awards obligations,and bilateral investment agreements between 1992 and 1996 may The State party is obliged to comply with the arbitral award,but the degree of compliance and compliance depends on the choice of the investor,and the Russian bilateral bilateral investment agreement provides for a clear obligation that the State complies with the arbitral award.The second part is the analysis of the obligations of another source of multilateral treaties.In this section,the Energy Charter Treaty,the New York Convention and the Washington Convention are introduced,and the treaties are briefly introduced,as well as the relationship between Russia and those conventions.In the context of the Energy Charter Treaty and the New York Convention,Russia has a duty to comply with an arbitral award,but the Washington Convention does not apply to Russia and,before Russia approves the Convention,investors are not required to submit to Russia in accordance with the Convention Claim.The second chapter is the choice of the domestic execution procedure for the arbitration of the Yukos case.In this section,the concepts of jurisdictional immunities and exemptions in recognition and enforcement of sovereign exemptions are clarified in order to facilitate subsequent analysis and understanding.Secondly,the possibility of the enforcement of arbitral awards in Russian resources is analyzed.According to a study of past cases,Russia has been reluctant to enforce arbitral awards in the past,but according to Russia's recent situation,there has been no significant change in the investment field,despite changes in the private sector.Therefore,the current situation,the Russian voluntary enforcement of the possibility of arbitral award is very low.Again,due to the Russian courts in recent years to show the dependence on the Russian government departments,the judicial power is not independent,so the implementation of the Russian domestic court mechanism is unlikely to achieve.In the second part,several alternative options for domestic implementation procedures are discussed.Two alternative options for domestic implementation procedures are discussed.One way is to promote the non-enforcement of the law,through the pressure of public opinion to the Russian government to create pressure to force the Russian government to implement the arbitration bureau.Another way is through diplomatic protection.Although this approach can play a role,but the country can comply with the outcome of the arbitration award is difficult to be protected.The last way is the International Court of Justice,but the International Court of Justice is only a "recommended" form,binding can not be guaranteed.The third part is the execution procedure of the third party.In this section,we introduce the implementation of Sedelmayer v.Russian Federation in Germany.Through this chapter's analysis,we can see that Russia has refused to comply voluntarily in the past,and that Russia may also be strongly opposed in the execution of the case,although the New York Convention provides a strong recognition and enforcement framework but is implemented in Russia The chances of success are relatively small.Chapter ? analyzes the implementation of arbitral awards that have been revoked,and this section takes the United Kingdom as an example.The first part is based on British law and the signing of an international convention,the British courts in the implementation of the arbitration has been revoked the issue of discretion.The second part examines the practice of the United Kingdom in the implementation of the withdrawn rulings through two cases,the Dana Company v.The Government of Pakistan and the Malicorp case.Through the analysis of these two cases,it can be seen that despite the fact that the British courts consider themselves discretionary,they will take a prudent attitude in the enforcement of the arbitral award when the ruling of the court of the place of arbitration is executed.Section II analyzes some special problems.The first thing is to prohibit the question of the principle of estoppel.In the case of the Dana Company v.The Government of Pakistan,the Yukos case(No.2)and Diag Human se in the case of the Czech Republic,the British court has stated that the prohibition of estoppel can be applied to the execution or revocation of a foreign court decision in the United Kingdom Procedures,general restrictions and exceptions include fraud,public policy and fairness and justice,and the principle is not used in general to preclude the review of revocations or arbitral awards in enforcement proceedings.In addition,the prohibition of allegations usually does not apply to foreign courts to make a revocation decision on the basis of public policy.In the case of Dallal v Bank Mellat,the British court held that the arbitral award was revoked and that the legal effect of arbitration ceased to exist.In order to maintain the judicial comity,the British courts generally adhere to the judgment of foreign courts and abide by the principles of private international law that are normally applicable to the recognition and enforcement of foreign judgments.But this is not absolute,and will change with the situation,such as Iran and the United States case.Chapter 4 analyzes the implementation of the Chinese court's decision on foreign investment arbitration.This chapter mainly analyzes the legal basis for the enforcement of foreign investment arbitral awards in our country,because there is a big difference between China and Russia in this respect,since the article has already made a more detailed analysis of the implementation of the arbitration award.The main basis for the enforcement of arbitral awards is also international treaties and bilateral investment treaties.But the specific application situation is different from that of Russia.Since our country has made a commercial reservation when it joins the New York Convention and the commercial relationship does not include the investment dispute between the investor and the host country according to the notice of the Supreme People's Court,it is not possible for us to implement the International Investment Arbitration Award in the New York Convention The Although our law provides for the direct application of international conventions,it is not known to enforce international investment arbitral awards directly in accordance with the Washington Convention because of lack of practice in practice.The second part deals with bilateral investment agreements.At present,the provisions of BIT on the implementation of the basic provisions of the two sides should bear the obligation to enforce the award.In view of the fact that the rules of recognition and enforcement of arbitral awards between China and foreign countries are more specific,the arbitral award shall be determined by the arbitral tribunal.And there are some suggestions for Chinese investment enterprises in order to enable enterprises to obtain the greatest degree of protection.Finally,in the conclusion part,there are some advices for investors on how to choose the organization of investment and dispute settlement mechanism.