What is the approximate time required to register and enforce a foreign arbitration award if unopposed?
15 business days from the date of filing the application (subject to suspension of the proceedings due to procedural reasons like notification of foreign parties, involvement of experts, etc.).
What is the approximate time required to register and enforce a foreign arbitration award if opposed?
Around 2-2.5 months (subject to suspension of the proceedings due to procedural reasons like notification of foreign parties, involvement of experts, etc.).
What is the approximate cost of registering and enforcing a foreign arbitration award (including court fees and other disbursements) if unopposed?
USD 5,000-8,000 (including relevant legal fees and other disbursements)
What is the approximate cost of registering and enforcing a foreign arbitration award (including court fees and other disbursements) if opposed?
USD 10,000-25,000 (including relevant legal fees and other disbursements)
Are there any unusual difficulties in enforcing a foreign arbitration award?
Local courts still may be influenced by local state authorities or tycoons or corrupted.
Therefore, recognition and enforcement of a foreign judgment against state companies or local oligarchs may be unreasonably rejected by local courts.