Arbitration in the recent times has emerged as a promising solution for litigants struggling to get prompt assistance from the overwhelmed Indian Courts. The two types of Arbitration namely Ad Hoc.
Recognition and enforcement of foreign arbitration awards in Mainland China
Mainland China has been a significant and active player in the global shipping market for years. It is now one of the top shipping nations scoring high on numbers of shipowners, operators, charterers and other supporting parties. It is rare that someone in shipping does not come across a Chinese counterparty.
When business thrives, disputes come along. A favourable arbitral award from outside Mainland China however does not mean that the fight is over. If the losing party refuses to honour the award, recognition and enforcement of the award is always a key to a successful recovery of claims.