Matter
Instrubel N.V. v Rasheed Bank (Paris Court of Appeal RG 22/15721)
- 6 February 1996Arbitration
6 February 1996Arbitration
Arbitral Award dated 6 February 1996
- Decision summary
- The award ordered the Iraqi Ministry of Defence to pay Instrubel N.V. amounts denominated in Netherlands guilders and the Iraqi Ministry of Industry, Research and Development to pay an amount denominated in Belgian francs, with interest.
Supporting details
3 participantsInstrubel N.V.
Ministry of Defence of Iraq
Ministry of Industry, Research and Development of the Republic of Iraq
7 years, 1 month and 6 days later · 2591 days
- 12 March 2003Arbitration
12 March 2003Arbitration
Arbitral Award dated 12 March 2003
- Decision summary
- The award ordered the Iraqi Ministry of Industry, Research and Development to pay Instrubel N.V. EUR 7,089,752.12 with interest, and allocated additional amounts between that ministry and establishment [H] [N].
Supporting details
3 participantsInstrubel N.V.
Ministry of Industry, Research and Development of the Republic of Iraq
[H] [N] Establishment
10 years and 8 days later · 3661 days
- 20 March 2013France
20 March 2013France
Enforcement Order of the President of the Paris Regional Court dated 20 March 2013
President of the Paris Regional Court
- Decision summary
- The order declared the 6 February 1996 and 12 March 2003 arbitral awards enforceable in France.
5 years and 8 months later · 2071 days
- 20 November 2018France
20 November 2018France
Judgment of the Paris Court of Appeal dated 20 November 2018
Paris Court of Appeal
- Decision summary
- The court rejected the partial annulment challenge to the 6 February 1996 arbitral award and the full annulment challenge to the 12 March 2003 arbitral award.
2 years and 20 days later · 751 days
- 10 December 2020France
10 December 2020France
Judgment of the Paris Court of Appeal dated 10 December 2020
Paris Court of Appeal
- Decision summary
- The court authorized Instrubel N.V. to proceed with an attachment of funds held by Union des banques arabes et françaises after revisiting the enforcement judge's earlier authorization.
1 year, 8 months and 21 days later · 629 days
- 31 August 2022France
31 August 2022France
Judgment of the Paris Enforcement Judge dated 31 August 2022
Paris Enforcement Judge
- Decision summary
- The enforcement judge rejected annulment of the attachment, limited it to EUR 20,309,508 after applying prescription to earlier interest, and ordered Rasheed Bank to pay the costs.
10 months and 5 days later · 309 days
- 6 July 2023France
6 July 2023France
Decision of the Paris Court of Appeal in the case RG 22/15721 dated 6 July 2023
Paris Court of Appeal, Division 1 - Chamber 10
- Decision summary
- The court confirmed the 31 August 2022 enforcement judgment, refused to annul the attachment of Rasheed Bank's funds held by Union des banques arabes et françaises, and upheld the reduction of the attachment to EUR 20,309,508 because earlier interest claims were prescribed. It rejected Rasheed Bank's costs request and ordered Instrubel N.V. to pay the appeal costs.
Supporting details
4 authorities · 11 participantsInstrubel N.V.
- Representative
- Stéphane Bonifassi (For: Instrubel N.V.)
Rasheed Bank
- Representative
- Nathalie Lesenechal (For: Rasheed Bank)
- Representative
- Ardavan Amir Aslani (For: Rasheed Bank)
Union des banques arabes et françaises
Paris Court of Appeal, Division 1 - Chamber 10
- Judge
- Bénédicte Pruvost
- Judge
- Catherine Lefort
- Judge
- Raphaël Trarieux
Other
- Institutional administrator
- Grégoire Grospellier
- Expert
- [R]