Article

Corruption in international commercial arbitration-Domino effect in the energy industry, developing countries, and impact of English public policy

Details

Citation

Okoli P (2022) Corruption in international commercial arbitration-Domino effect in the energy industry, developing countries, and impact of English public policy. Journal of World Energy Law and Business. https://doi.org/10.1093/jwelb/jwac006

Abstract
Corruption has relentlessly posed a major challenge to investors especially in developing countries. However, less attention has been focused on such developing countries from the standpoint of individuals who are indirectly affected by corrupt practices. The relationship between international commercial arbitration, the role of domestic courts, and the enforcement of obligations has come under more scrutiny with large awards. Successful parties bring many award enforcement proceedings in England because of the invaluable assistance which English courts provide. Sometimes, there may be allegations of corruption with respect to these awards that parties seek to enforce. In this context, English court decisions have significant implications for many parties around the world. However, the traditional narrow interpretation of public policy has come under increasing strain. This article examines how English courts have navigated the matrix of fraud, corruption, and public policy – overlapping areas which parties exploit in international commercial arbitration. There is a major argument in favour of striking a balance between various institutional, governmental and people's interests in dealing with difficult cases.

Keywords
International commercial arbitration; New York Convention; UK Arbitration Act; public policy; English courts; developing countries; energy industry

Notes
Output Status: Forthcoming/Available Online

Journal
Journal of World Energy Law and Business

StatusIn Press
Publication date online31/03/2022
Date accepted by journal01/02/2022
URLhttp://hdl.handle.net/1893/34085
ISSN1754-9957
eISSN1754-9965

People (1)

People

Dr Pontian Okoli
Dr Pontian Okoli

Lecturer in Law, Law