TRADHOL INTERNATIONAL SA SOCIEDAD UNIPERSONAL vs SHAKARGANJ LIMITED S — 2023 CLD 819 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2023 CLD 819 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2023
Reporter: CLD
Parties: TRADHOL INTERNATIONAL SA SOCIEDAD UNIPERSONAL vs SHAKARGANJ LIMITED S
Provisions referred to: S. 7---N

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

TRADHOL INTERNATIONAL SA SOCIEDAD UNIPERSONAL VS SHAKARGANJ LIMITED S. 7---New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, Art. V(2)(b)---Recognition and enforcement of foreign arbitral award---Pro-enforcement bias---Object, purpose and scope---New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, in Art. V advocates 'pro-enforcement bias' policy in dealing with applications of recognition and enforcement of international arbitral awards---General principle has been set forth that each contracting state has to recognize arbitral awards as binding and enforce them---As a result, foreign awards are entitled to a prima facie right to enforcement in the contracting states---Essentially it means pro-enforcement attitude of national courts enforcing foreign award---After ratifying New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 and Recognition and Enforcement (Arbitration Agreements and Foreign Arbitral Awards) Act, 2011, Courts in Pakistan have enforced the awards through pronouncements of judgments and such enforcement casts a duty upon the Courts to build the confidence of investors by protecting the sanctity of arbitration agreements.

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