CYPRUS: Enforcement of Foreign Arbitral awards under New York Convention
In a recent decision of a Cypriot 1st Instant Court issued in the context of an application for enforcement of a foreign arbitral award on the basis of New York Convention, it has been inter alia held, that a dismissal of such enforcement application, on the ground that the applicant has not presented all the required documents under Article IV of the Convention, does not engage the res judicata rule, and the applicant may file a new request, for recognition or enforcement of such foreign arbitral award.
The Court held, that the requirements set out in Article IV of the New York Convention have purely typical character, and the failure of an applicant to satisfy same results to the dismissal of his application for procedural grounds, and not for any substantive grounds.
A decision relied upon to set up res judicata, must involve an adjudication on the merits, in contradiction to an adjudication, resting on the absence of requisite formalities.
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