Cour de cassation, 13 December 2017, Equatorial Guinea v. Commercial Bank Guinea Ecuatorial, no. 16-12943

Equatorial Guinea was ordered by an arbitral tribunal to pay various sums to a bank. In 2012 the parties signed a settlement agreement over the dispute. The bank nevertheless tried to attach an aircraft owned by Guinea and held by a third party using the award.
The bank had no standing to execute a title that it had waived under the terms of the settlement agreement. The validity of the transaction was never questioned. In addition, the transaction contained an arbitration clause.

2018-01-14T23:04:04+00:00 December 13th, 2017|Cour de cassation|0 Comments

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