Enforcement of Awards v. Enforcement of Judgments in the EU: Arbitration Must Catch Up

Abstract

Arbitral awards are easier to enforce across borders than court judgments, through the New York Convention, and this is one of arbitration’s key advantages compared to court litigation. In the European Union, however, this comparative advantage has been lost since the Brussels I Regulation Recast provides for the enforcement of judgments throughout the Union without the need for a local exequatur, whilst arbitral awards still require enforcement proceedings in each country. This article submits that arbitration must catch up and proposes a limited amendment to the recast Regulation, providing that arbitral awards issued in the European Union are capable of enforcement throughout the Union on the basis of a single exequatur in the jurisdiction of the seat. The proposed single exequatur at the seat will be optional; there will be no ‘double exequatur’ requirement. arbitration, award, enforcement, exequatur, recognition, single exequatur, Brussels I Regulation Recast, New York Convention, parallel proceedings