Swiss Federal Tribunal Renders Noteworthy Decision on Impact of Foreign Bankruptcy on International Arbitration

The global economic crisis has ushered in a new era of insolvency in international business. The past year has seen several large corporations with integrated operations around the world go bankrupt. In this environment, the impact of a party’s bankruptcy on the conduct of an international arbitration is likely to be faced with increasingly regularity by courts around the world. In its decision of 31 March 2009 (4A_428/2008), the Swiss Federal Tribunal confronted that very situation, and rendered a judgment that could have significant implications for international arbitrations seated in Switzerland.


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