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SPAIN 104
Tribunal Superior de Justicia, Madrid, 17 February 2021
(Mr. Pio v. Ms. Marina)
SPAIN 104
The Court denied the contention that the defendant had not been duly notified of the arbitration, but then rejected the application for recognition and enforcement of an award of the Permanent Court of Arbitration of the Stock Exchange of Kherson, Ukraine, finding that the monthly interest of 15 percent established in the loan agreement at issue in the arbitration violated Spanish law on usury. As a consequence, enforcement of the award would be contrary to public policy in its narrow meaning of the constitutionally guaranteed fundamental rights.
Due process: The court discusses what constitutes “proper notice” of the appointment of the arbitrators or of the arbitration proceedings.
Public policy: The court discusses the meaning of (international as compared to domestic) public policy, generally defined as the basic notions of morality and justice of the enforcement State.
Public policy: The court discusses cases in which the subject matter of the award was not arbitrable in the enforcement State on public policy grounds.
Public policy: The court discusses the effect of other alleged violations of public policy on the recognition and enforcement of an arbitral award, such as contradictory reasons, manifest disregard of the law (US), etc.