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Recognition and Enforcement of International Arbitration Awards in Latin America

Por: Corporate Disputes MagazineImprimirVisualizar em PDF

"In the past, Latin American nations have generally been opposed to arbitration, largely based on the Calvo doctrine, which heid, in summary, that jurisdiction in international disputes lied within the country in which the investment is located. However, starting in the 19905, most Latin American countries adopted a number of legal and policy changes with the objective of promoting free markets and trade. In this context, given the development of International commerce and the need of attracting foreign investments, Latin American countries in general have started to accept arbitration as a viable method for resolving disputes. To facilitate commercial arbitration, many countries changed their domestic arbitration laws or enacted new oves, and ratified important international arbitration treaties such as the New York and the Panama Conventions on the recognition and enforcement of foreign arbitrai awards."

 

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