ACI Partners: Legal Flash No. 13

ACI Partners: Legal Flash No. 13

• 20.08.2015

 Official Gazette no 213-222 of 14 Aaugust 2015

The Law No 135 provides for amending and supplementing of the Code of Civil Procedure and the Law on International Commercial Arbitration (No 24 dated 22 February 2007).
The Code of Civil Procedure was completed with three new articles concerning the procedure for recognition and enforcement of foreign arbitral awards. These articles refer to the following: conditions of form and substance of the application for recognition and enforcement of foreign arbitral awards; procedure of examination by the court of the application; court decision on recognition and enforcement of foreign arbitral awards.

The Law provides that the application for recognition and enforcement of foreign arbitral awards shall be presented to the Court of Appeals in which jurisdiction the respondent against whom the award is invoked has its domicile/residence or legal address. In case such person does not have domicile/residence or legal address in the Republic of Moldova or these are not known to the claimant, the application shall be presented to the Court of Appeals in whose jurisdiction the assets of the respondent are located.

The Law provides that the application for recognition and enforcement of foreign arbitral awards on the territory of Republic of Moldova may be submitted within 3 years from the date on which foreign arbitration award became executory in accordance with the law where the arbitration took place.

The Law on International Commercial Arbitration was amended in the part related to recognition and enforcement of foreign arbitral award (Article 38 of the Law).

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ACI Partners

ACI Partners is a dynamically growing Moldovan law firm with an expanding network of partners throughout Europe. ACI Partners was established by separation of the legal business from Ernst & Young Moldova and as such it draws from the latter|s long-acknowledged ability to offer competent advice. ACI Partners’ business strategy is to deliver a solid and reliable service, which the clients may turn to whenever they need. To reach this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with their clients’ quality demands and high expectations.