Cour de Cassation, Civ. 1, 13 September 2017, Orion Satellite Communications v. Federal State Unitary Enterprise Russian Satellite Communications Company, no. 16-16468

Orion sought enforcement of a foreign arbitration award in France. The principal amount was subject to annual interest based on Libor [The London Interbank Offered Rate]. The enforcement was contested by the other party. The Cour de Cassation ruled that: - In the framework of enforcement, the judge may not substitute one interest rate with [...]

2018-01-14T19:06:38+01:00September 13th, 2017|Cour de cassation|0 Comments

Paris Court of Appeal, 12 September 2017, Republic of the Congo v. Commisimpex, no. 15/24881

A supervisory judge of Commisimpex’s insolvency proceeding established a legal compensation between a tax claim owed by Commisimpex and Congo’s debts (as a result of a 2013 arbitral award). The Republic of Congo summoned Commisimpex to enforce the order. In 2015, the judge dismissed the claim and stated that the order was unenforceable on French [...]

2018-01-14T19:08:02+01:00September 12th, 2017|Court of Appeal, Paris Court of Appeal|0 Comments
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