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The Court of Appeal Delivers Important Judgment on Enforcement under the New York Convention in IPCO (Nigeria) Limited v Nigerian National Petroleum Corporation
The Court of Appeal has delivered its Judgment in IPCO (Nigeria) Limited v Nigerian National Petroleum Corporation (No.3)  EWCA Civ 1144 & 1145, in which it addressed the impact of delays in enforcement of a New York Convention award caused by challenges to the award at the seat of the arbitration. The principal components of the award were for Variations, prolongation and financing charges in connection with a design and construction contract (concluded in 1994) for a petroleum export terminal.
XXIV Old Buildings have provided an analysis of the case, available here. In summary they have said that:
“Where there is excessive delay in the determination of a challenge in the seat, the English court will permit enforcement notwithstanding that the challenge (save in the case of fraud) has a real prospect of success.”
IPCO was represented by Michael Black QC and Edward Knight and instructed by Tim Mould.
For more information please contact Tim Mould, Partner, Construction, Goodman Derrick, on +44 (0)20 7404 0606.
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