Converting Emergency Arbitral Interim Orders into Enforceable Share Freeze Injunctions
Emergency arbitral orders require formal domestic court leave to convert into enforceable share freeze injunctions binding registries and transfer agents.
Curial Enforcement
Meaning
Exercise of sovereign judicial power to give effect to orders or directions that originate from an alternative dispute resolution process. Effective curial enforcement bridges the gap between a private agreement to arbitrate and the physical seizure of assets or the compulsion of witnesses. It provides the coercive force necessary to ensure that a party cannot ignore a ruling simply because it was not issued by a public judge.
Judicial Intervention
Intervention is restricted to the powers granted by the arbitration law of the seat. Curial enforcement allows a court to issue warrants for the seizure of property located within its territory. The process begins with an application to recognize the order of the tribunal as an order of the court.
Supervisory Role
Role of the court is to ensure that the arbitral process adheres to the principles of natural justice and the specific laws of the seat. Curial enforcement may be refused if the tribunal exceeded its mandate or if the award violates the public policy of the jurisdiction where the assets are located. The court examines the procedural history of the case rather than the substantive merits of the legal arguments.
This oversight maintains the integrity of the private dispute resolution system.
International Reciprocity
Reciprocity is achieved through treaties that recognize the validity of foreign judicial orders. Curial enforcement remains the final tool for the recovery of value.