By Silvia Martelli (June 20, 2022, 2:00 PM BST) -- A British arbitration decision does not prevent Spain from registering an €855 million ($900 million) judgment against insurers for a massive oil spill because it is excluded from European Union rules on the mutual recognition of court judgments, the bloc's highest court ruled Monday.
EU rules governing the recognition of national court judgments across the bloc do not apply to arbitral awards and the consequent national judgment to confirm them in a given country, the European Court of Justice said.
This means that a U.K. arbitration award from 2013, which found that Spain could pursue the case only through arbitration in London,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!