“Impecuniosity”
refers to the situation of a party which cannot bear the arbitration costs. In
a judgment dated 17 November 2011, the Paris Court of Appeal held, in relation
to the particular circumstances of the case, that the consequences of a party’s
failure to pay the advance on costs provided for by the arbitration rules had
interfered with its right of access to justice. The award was therefore set
aside on the grounds that this was contrary to international
public policy. The author first analyses this judgment in order to explain its
meaning and scope. He then considers in general terms, in the context of
business relations, the means to resolve problems resulting from the
impecuniosity of a party by endeavouring to reconcile the principles governing
French law on international arbitration with the fundamental right of access to
justice.