Editors’ Note: This article has been updated to reflect a Correction.
One of the oft-touted advantages of an arbitration award issued by the International Center for the Settlement of Investment Disputes (ICSID) is that it cannot be reviewed by national courts of any member country. Yet, such awards still must be brought to a national court for recognition and enforcement if a losing party refuses to pay the award voluntarily. This article looks at the practicalities of enforcing an ICSID award in the United States and certain best practices recommended by a recent New York City Bar report.1
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