Enforcement under the New York Convention

Claim
A commercial action was filed before Fujairah Federal First Instance Court by the owner of the vessel ("Party A") against the lessee/charterer of the vessel ("Party B"). Party A requested the Court to:

• Ratify a foreign arbitral award issued on 26 June 2006 in which Party B was ordered to pay Party A the amount of US $ 235,080.43 plus 2% interest effective from 30 June 2006 until full payment, in addition to costs of the arbitration in the amount of AED 3,690.
• Ratify the foreign arbitral award specifying the total cost of the arbitration that amounted to £ 9379.50 along with 8% interest per annum or in parallel rate to be effective from the date of the issuance of the arbitral award on 26 June 2007 until full payment in addition to £ 310 representing the cost of the arbitration decision.