MONACO Law and Practice Contributed by: Stephan Pastor, Emeline Elbaz-Mondeux, Daniel Goldenbaum and Xavier Widawski, CMS Monaco
• if the award was rendered by persons who could not be appointed arbitrators or by cer- tain arbitrators who were not entitled to judge in the absence of the others; • if the forms prescribed for ordinary judgments were not observed, on pain of nullity, without the parties having exempted the arbitrators from observing them; and • if a decision was given on matters not requested. As regards foreign arbitral awards, exequatur is required for any decision rendered abroad. Exequatur must be granted by: • the President of the First Instance Tribunal, ex parte, in commercial matters; and • the First Instance Court after a summons, in civil matters. Monaco has ratified the following treaties aimed at facilitating the use, recognition and effective- ness of arbitration: • the Protocol on Arbitration Clauses (Geneva, 24 September 1923, League of Nations, Treaty Series, Volume 27, p 157); • Monegasque Sovereign Order No 287 of 17 December 1924; • the Franco-Monegasque Convention of 21 September 1949 on Mutual Legal Assistance, enforceable by Sovereign Order No 106 of 2 December 1949 (Article 18); and • the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 10 June 1958, enforced by the Order of 14 September 1982.
In application of the latter, the Monegasque courts have considered that: • they have jurisdiction to hear applications for enforcement of foreign arbitral awards; and • a foreign arbitral award is subject in Monaco to the same procedure as the Monegasque arbitral award ( Cour de Révision , 24 March 2017, IBDD 16075), except for exequatur and protection of Monegasque public order- related matters. 14. Outlook 14.1 Proposals for Dispute Resolution Reform As of October 2024, there are no pending public proposals for dispute resolution reform before
the Conseil National . 14.2 Growth Areas
In the authors’ opinion, matters involving devel- oping technologies (eg, crypto) or the recovery of assets from abroad offer promising prospects in the coming years.
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