Yuan, Luo Yuan
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Application of the New York Convention to International Investment Arbitration Awards: An Analysis from the Perspectives of Indonesia and China Yuan, Luo Yuan
Indonesia Law Review Vol. 15, No. 1
Publisher : UI Scholars Hub

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Abstract

Since the 21st century, as countries have increasingly engaged in international economic activities, the economic ties between nations and regions have grown progressively closer, and cross-border investments have surged. Consequently, investment disputes, which often accompany these investments, have emerged as a critical issue that cannot be overlooked by host governments and foreign investors. Currently, the predominant method for resolving investment disputes is through international arbitration. Therefore, the enforcement of investment arbitration awards has become a key indicator of the effectiveness of the dispute resolution mechanism. A significant area of concern and research is whether the New York Convention can be applied to investment arbitration awards. As signatories to the Convention, both Indonesia and China recognize and enforce foreign arbitral awards. This paper analyzes whether foreign arbitral awards encompass investment arbitral awards by examining the content of the Convention, its savings clause, and relevant case law, with the aim of further exploring the implications of applying the Convention to investment arbitral awards and how China and Indonesia should address these implications
Enforcement of International Investment Arbitration Awards: Comparative Lessons from Indonesia and China Yuan, Luo Yuan; Abdullah, Abdul Gani, Prof.; Sumartono, Gatot
Indonesia Law Review Vol. 14, No. 1
Publisher : UI Scholars Hub

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Abstract

The current world has various methods to resolute the investment dispute, while the main reason which should be largely taken into account when people choose the way to resolve the dispute is whether the recognition and enforcement of the resolution is effective or not. As the most popular resolution chosen for investment dispute, the international arbitration is playing the most crucial role on the current stage. The article focuses on the comparative study on the recognition and enforcement of International Investment Arbitration Award between Indonesia and China. The research addresses two questions namely: (1) how to make the dispute settlement mechanism of investment arbitration in Indonesia more effective; and (2) whether China should establish an arbitration investment dispute mechanism and what kind of mechanism if it should. The research uses the qualitative data to elaborate, and the sources will be more presented by the secondary data, such as the treaties, laws, regulations and cases. The descriptive measurement will be mainly taken in this article. Besides, the various analyses are used to interpret the meanings in the data. Based on the research, several problems from both Indonesia and China have been found, namely, even though Indonesia has established the relevant mechanism, the blur and unclear regulations for the process and the unpractical requirement for documents have been the obstacles for practicing. The problem for China is that the mechanism has not yet established. There are some solutions to solve those problems, including for Indonesia, detailing each process, confirming the competent authority and illustrating the condition for annulment, providing the public with relevant information, revising the requirement for submission of the certain documents. While for China, the government should eliminate interfering the use of Public Order, the Judicial Review and the State Immunity, and establish the mechanism from the perspectives of the theory and the practice.