WHAT U.S. COMPANIES NEED TO KNOW ABOUT FOREIGN ARBITRATION AWARDS BEFORE PARTNERING WITH A FOREIGN COMPANY
As U.S. companies increasingly do business with foreign companies, many are discovering that their operations could be put at significant financial risk based on an arbitration conducted in a foreign country. Whatever familiarity an in-house general counsel may have with conducting corporate litigation in U.S. courts, they may not be prepared for the fact that an arbitration award against them abroad could be enforced against them in the U.S. Furthermore, the U.S. court likely wouldn’t consider the underlying claims in the dispute in ruling that the arbitration award should be enforced. Allow me to answer a few critical questions about this growing threat to U.S. companies engaged with companies around the world.
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