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We live in a globalized world where people, goods and money can move freely between national borders. It is perfectly possibly to buy a computer manufactured in Tokyo from a sales company established in Bangladesh, while sitting outdoors on a terrace in Rome. In this context, with transnational commerce and business relations constantly expanding, it is logical that international litigation is becoming increasingly commonplace. 

I. A case of unenforceability of an award Article 45.1 of Law 60/2003, of 23 December, on Arbitration (“LA”) provides that “An award is enforceable even if an action has been brought to set it aside”. However, case law has established a number of requirements with regard to the enforcing of arbitral awards which are not final and binding. Moreover, Article 44 of the LA establishes that the enforceability of awards will take place in accordance with the Spanish Civil Procedure Law (“LEC”) and will therefore be subject to the rules and requirements of civil procedure.

The approval of the Concurso Law (Ley Concursal) in Spain on 9 July, 2003 was the realisation of a long sought-after aspiration in Spanish property law – namely the reform of the legal instruments for dealing with distressed businesses. Today, only a few years later, day-to-day practice shows that some of the old problems are resurfacing.