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

November 2009

The European and Middle Eastern Arbitration Review 2010
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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