The Court’s decision confirmed the ‘final and binding nature of arbitral awards’, therefore strengthening Australia’s position, Doug Jones - president of the Australian Centre for International Commercial Arbitration (ACICA) – told Lawyers Weekly.
Dispute
This decision is confirmation that the approach of the judicial system is supportive of international arbitration,’ Mr Jones added.
The challenge sparked from a dispute connected to a distribution agreement between China-based TCL Air Conditioner and Australian company Castel Electronics. The case examined the way in which arbitral awards are recognised and enforced in Australia.
Robust framework
The High Court unanimously dismissed TCL’s appeal, drawing a line between the judicial power of the courts and the power of arbitration tribunals.
IMF Australia’s investment manager Susanna Khouri commented that the significant decision showed the ‘robustness’ of the arbitration framework in the country.
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