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Enforcing international arbitral awards in Luxembourg: procedures, refusal grounds, appeals and review, effect of set-aside at seat, intra-EU constraints, and creditor remedies under the 2023 New Arbitration Law
PRACTICE NOTES
Enforcing international arbitral awards in Luxembourg: procedures, refusal grounds, appeals and review, effect of set-aside at seat, intra-EU constraints, and creditor remedies under the 2023 New Arbitration Law
Note: the Luxembourg cases referred to below are not all reported by LexisNexis®. Luxembourg provides a favourable climate for arbitration and is well regarded for the reliable execution of arbitral awards. The forum is notably mindful of the hierarchy of norms and places marked emphasis on international treaties. Before setting out the bases for declining exequatur, Article 1246 of the New Code of Civil Procedure (the 'NCCP') stipulates that the Court of Appeal may decline enforcement only 'subject to the provisions of international conventions'. Consistent with this, Luxembourg is party to a range of international treaties, agreements and conventions that bolster the effectiveness of enforcing arbitral awards. In particular, the Grand-Duchy is a signatory to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which operates on a reciprocity basis – namely, it applies solely to awards seated in
Arbitration
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