Arbitration In Argentina: New International Commercial Arbitration Law

Author:Mr Mario Eduardo Castro Sammartino
Profession:Castro Sammartino & Pierini
 
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On July 26th, 2018, it was published in the Official Gazette the new International Commercial Arbitration Law No. 27,449 (Ley de Arbitraje Comercial Internacional, or LACI by its Spanish acronym)1. The LACI follows the United Nations Commission on International Trade Law (UNCITRAL) Model Law as amended in 2006, and is a breakthrough concerning arbitration in Argentina2, positioning the country as an appealing venue of choice for out-of-court business dispute settlements in Latin America.

Additionally to thoroughly regulating the arbitration agreement and procedure, the LACI also governs the recognition and enforcement of any arbitral award in Argentina, irrespective of the seat where it has been issued. As for this issue, the Title IX, Chapter 2, Article No. 104, of the LACI established that the recognition and enforcement of an arbitral award in Argentina may only be denied if:

The party against whom the arbitral award is invoked proves before the competent court: That one of the parties to the arbitration agreement was affected by some disability or capacity restriction, or that said agreement is not valid under the law to which the parties have submitted it, or if nothing has been indicated in this regard, under the law of the country in which the award was issued; or That the party against whom the award is invoked has not been duly notified of the appointment of an arbitrator, of the arbitral proceedings, or that it has not been able, for any other reason, to assert his rights; or That the award refers to a controversy not foreseen in the agreement of arbitration or contains decisions that exceed the terms of the arbitration agreement. However, if the provisions of the award that refer to the issues submitted to arbitration can be separated from...

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