Registration, Recognition And Enforcement In Cyprus Of Partial Final LCIA Arbitral Awards

In a very recent case concerning an application for registration, recognition and enforcement of a Partial Final LCIA Arbitral Award in Cyprus, the Cypriot court was called to examine whether the Award in question had become ''final and binding''.

In this case, the applicants in their application for recognition and enforcement did not attach along with the Award the Memorandum of Corrections which had already been issued by the Tribunal and which memorandum related only to unimportant corrections, mainly concerning clerical errors.

Despite this, the respondents filed an opposition alleging that the Partial Final Award would only become ''final and binding'' after the issuance of the memorandum of corrections of the Award, and they further alleged that it should not be considered as ''final and binding'' because the applicants had not presented in the context of the enforcement application such memorandum of corrections.