LUXEMBOURG Law and Practice Contributed by: Emilie Waty and Kloris Vjerdha, KLEYR_GRASSO
9. Confidentiality 9.1 Extent of Confidentiality
was called upon to determine. The parties may, how - ever, within three months following the award’s deliv - ery, request from the arbitral tribunal an interpretation of the award as well as the correction of any material omissions or errors therein. The parties may further request that the arbitral tribunal supplement the award in the event that it has failed to consider a claim put forth by one of the parties. In the event that that the arbitral tribunal is unable to reconvene with respect to any of the above matters, Article 1232-4 of the NCCP provides that it is the sup - porting judge that will bear those functions. Finally, the arbitration reform has introduced a default time frame for the rendering of the award. Article 1231-6 of the NCCP provides that in the absence of a time limit expressly stipulated in the arbitration agreement, the arbitral tribunal is required to render its award within six months from the date on which the last-appointed arbitrator formally accepted their mandate. 10.2 Types of Remedies The types of remedies that arbitral tribunals may award are not explicitly delineated in Luxembourg Arbitration Law. The arbitral tribunal is bound to apply the remedies foreseen by the law applicable on the merits of the case. However, concerning the award of damages, puni - tive damages are not foreseen under Luxembourg law. Therefore, an award granting punitive damages would have to be set aside for being in violation of public policy. 10.3 Recovering Interest and Legal Costs The Luxembourg Arbitration Law does not contain a specific provision with respect to recovering interest. Accordingly, the recovery of interest is determined with respect to the law applicable to the dispute. Pursuant to Luxembourg procedural law, and in the absence of a prior agreement between the parties, the allocation of costs falls within the discretion of the arbitral tribunal that takes into account the circum - stances of the case as well as the ultimate outcome of the proceedings.
Luxembourg Arbitration Law foresees that arbitration proceedings are conducted with strict confidential - ity, subject only to derogation where the parties have expressly agreed otherwise. Accordingly, the arbitra - tors are bound by a duty of confidentiality and may not disclose any information that was revealed in the course of the proceedings or during their delibera - tions. In the event that a party initiates an appeal to set aside an arbitral award or an appeal against an exequatur order, the content of the proceedings becomes de facto part of the public record. 10. The Award 10.1 Legal Requirements Article 1232 of the NCCP foresees the legal require - ments for arbitral awards in Luxembourg. In principle, the arbitral award is issued in writing, and a duly signed original is delivered by the arbitral tri - bunal to each of the parties. Upon its issuance, the award is final and acquires the authority of res judi - cata. Consequently, and in accordance with Article 1232-3 of the NCCP, the award is not subject to an appeal by any of the parties. Save where the parties have expressly waived this requirement, the arbitral award must be duly reasoned (Article 1232-2 of the NCCP). Unless otherwise agreed between the parties, the arbitral award is to be rendered by a majority deci - sion of the appointed arbitrators and signed by all of them. In the event that an arbitrator refuses to sign the award, their refusal must be expressly mentioned therein. This will not affect the award as such, which will produce the same legal effects as if it had been duly signed by the entire panel (Article 1232-1 of the NCCP). Upon issuance of the final award, the arbitral tribunal is divested of its authority with respect to the dispute it
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