Arbitration analysis: In this decision, the Paris Court of Appeal (the Court) dismissed the Central Bank of Iraq (CBI)’s request to annul the arbitral award on multiple grounds. First, the court found that CBI’s claim that the recognition and enforcement of the award in France would violate French international public policy was inadmissible. It held that the allegations (such as fraud and misappropriation of public funds) pertained solely to private contractual disputes rather than actual matters of international public policy. Consequently, CBI was deemed to have waived its right to raise these irregularities by failing to do so in a timely manner during the arbitral proceedings. Second, the court dismissed CBI’s claim that the sole arbitrator would have violated due process and the principle of equality of arms. The court found that CBI had been given ample opportunity to participate in the proceedings...
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