Summary
In February 2020, the UK Supreme Court put an end to the stay of enforcement of the ICSID arbitration award rendered in the Micula case in the UK, the enforcement of which raises difficulties under European law. In doing so, the Supreme Court relied solely on international law (the ICSID Convention) without acknowledging the possible relevance of European law. While the decision appears to be legally founded, it nevertheless shows a very clear willingness of the Court to gradually limit the influence of European Union law in the UK, in the context of Brexit. This decision could help enhance the importance of international law, but it may be that the Supreme Court also seeks to use Brexit to promote the British territory as a favourable place for the enforcement of international arbitral awards.
b-Arbitra | Belgian Review of Arbitration