Arbitration - Lovers or friends: Do you need to start over if the fighting never ends?

It's the tragic echo of Michael Bolton's plea to start over that has struck a chord with generations of fans. The truth is sometimes people just don't want to start over if the fighting never ends.

Imagine if parties agree to lower their guns and sign a settlement agreement to resolve an arbitration before it begins, but then one party doesn't honour the bargain. Would you want to start an arbitration over again? Well if you're clever you'll agree that if the other party doesn't honour the settlement, the arbitral tribunal will make an award in your favour without hearing any argument. It's a quick, cheap and just solution, we reckon. And, after a decision on Monday, it looks like the Full Court of the Federal Court of Australia (including the Chief Justice) will have your back (Gujarat Coke v Coeclerici [2013] FCAFC 109). It's a good sign for the enforcement of foreign arbitral awards in Australia.