Law and Practice of Foreign Arbitration and Enforcement of Foreign Arbitral Awards in Pakistan

Abstract

Pakistan has recently made extensive reforms of its arbitration laws, which relate to both international commercial and investment arbitration. These reforms amend laws on the recognition and enforcement of foreign arbitration agreements and awards in Pakistan and aim to modernize the applicable laws as well as fulfil Pakistan’s obligations under the New York and the ICSID Conventions. This is the first book to present a comprehensive picture of international arbitration from a Pakistani perspective. It explains the relationship of old and new Pakistani arbitration laws and elaborates the changes brought about by the new enactments and gives an in-depth and up-to-date analysis of Pakistani case law dealing with foreign arbitration agreements and awards and provides detailed account of the transition that foreign arbitration laws went through since the independence of Pakistan in 1947. Part (I) describes the background of foreign arbitration laws in Pakistan. Part (II) explains, in the light of case law, the applicable substantive and procedural rules that different enactments provide for the recognition and enforcement of foreign arbitration agreements and awards in Pakistan. Discussion on how Pakistani courts deal with important questions such as severability of arbitration clause from main agreement, public policy issues relating to foreign arbitration, and interim measures aiding foreign arbitration are also included in this part. Part (III) analyses recent enactments that implement the New York and the ICSID Conventions in Pakistan, and explains the changes brought about by these enactments in the existing foreign arbitration regime.This concise book is designed to meet the needs of a practitioner, student or business person to obtain an understanding of Pakistani arbitration laws quickly. The book is compact and readable, but comprehensive in its coverage, and discusses and analyses the most recent developments in Pakistani arbitration laws, rules and procedures.