Matter
Inter-Arab Investment Guarantee Corporation and ABC International Bank PLC v Bail Recouvrement (French Court of Cassation, First Civil Chamber, cases G 01-11.718 and G 01-10.269, 30 June 2004)
- 17 November 1994Arbitration
17 November 1994Arbitration
Arbitral award rendered in Jordan on 17 November 1994 and completed on 21 January 1995
- Decision summary
- The award ordered Inter-Arab Investment Guarantee Corporation to pay Bail recouvrement more than US$10 million.
Supporting details
2 participantsInter-Arab Investment Guarantee Corporation
Bail recouvrement
6 years, 2 months and 1 day later · 2254 days
- 18 January 2001France
18 January 2001France
Judgment of the Paris Court of Appeal dated 18 January 2001
Paris Court of Appeal
- Decision summary
- The Paris Court of Appeal ordered Inter-Arab Investment Guarantee Corporation and ABC International Bank PLC, acting as guarantor, to pay Bail recouvrement US$1,459,495 in default interest accrued from the 17 November 1994 award until payment of the award debt.
Supporting details
1 authority · 3 participantsBail recouvrement
Inter-Arab Investment Guarantee Corporation
ABC International Bank PLC
Paris Court of Appeal
3 years, 5 months and 12 days later · 1259 days
- 30 June 2004France
30 June 2004France
Judgment of the French Court of Cassation, First Civil Chamber, in cases G 01-11.718 and G 01-10.269 dated 30 June 2004
French Court of Cassation, First Civil Chamber
- Decision summary
- The Court of Cassation rejected the appeals concerning default interest on the arbitral award. It held that, where the arbitrator did not decide post-award interest and could no longer be seized, French law governing enforcement applied; it therefore upheld the award of default interest under article 1153-1 of the French Civil Code.
Supporting details
2 authorities · 3 participantsInter-Arab Investment Guarantee Corporation
ABC International Bank PLC
Bail recouvrement
French Court of Cassation, First Civil Chamber