Swedish Arbitration Portal: the Svea Court of Appeal dismissed challenge to arbitral award
In a decision recently published on the Swedish Arbitration Portal, the Svea Court of Appeal dismissed a party’s challenge to the arbitral award, finding that the challenging party did not have the right to commence arbitration as he was a citizen of the respondent state and did not fulfil the criteria of an investor pursuant to the ECT.
The party challenged the award, claiming that the tribunal had exceeded its mandate by violating fundamental principles of Swedish law and additionally that the award was made out of time. The Claimant further argued that he was entitled to commence the arbitration due to holding permanent residency in a contracting state, although he was a citizen of the Respondent state at the time of the investment. The Court found there were no grounds for setting aside or annulling the award. The Court further found that the tribunal did not have jurisdiction due to the Claimant holding citizenship in the respondent state although he was a permanent resident of a contracting state at the time.
The Swedish Arbitration Portal is facilitated by the Arbitration Institute of the Stockholm Chamber of Commerce (the SCC). The project’s mission is to increase transparency in arbitration by making Swedish case law more accessible to the international community.