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Five Facts About Recognition and Enforcement of Foreign Awards in Central and Eastern Europe
Five Facts About Recognition and Enforcement of Foreign Awards in Central and Eastern Europe
Ileana Smeureanu
Arbitration has become an accepted dispute resolution mechanism in Central and Eastern Europe (“CEE”) over the last two decades. Given the diversity of the countries in CEE, arbitral practice in the region is not entirely uniform despite the fact that most CEE countries are parties to international instruments meant to harmonize arbitration standards and court-related procedures. Though CEE’s arbitration practice cannot be summarized in a few words, this piece gives a bird’s eye view of the region, with a focus on five key facts or figures concerning recognition and enforcement of foreign awards.