Browsing by Author "af Hällström, Camilla"

This thesis examines immunity from execution of state property in execution proceedings of arbitral awards. In this study, I aim to consider the extent of immunity from execution in these execution proceedings. This includes considerations of current rules in public international law on immunity from execution and the application of these rules on national execution proceedings of arbitral awards. Immunity from execution protects state property from execution measures. Immunity from execution is based on equality of states and the upholding of friendly relations between states. States have in the 20th century started to participate in commercial transactions and dealings with individuals. This has led to the revision of the traditionally absolute notion of immunity from execution. Immunity from execution has been limited in certain instances. The view on the extent of immunity from execution is not always coherent in the international community. There is no universal international convention in force that regulates the matter. National courts interpret the rules on immunity from execution, which means that there can be quite incoherent and unexpected decisions in this area of public international law. The certainty of execution is of crucial importance in relation to arbitral proceedings. Immunity from execution is a factor that compromises this certainty. As arbitration is time-consuming and costly, uncertainty relating to the execution of arbitral awards can mean that individuals refrain from arbitrating against states. This, again, can impact trade and investment involving states. The Sedelmayer saga is an excellent illustration of the implications that immunity from execution can have on execution of mixed arbitral awards. Sedelmayer is an investor whose investment was expropriated by the Russian Federation. An arbitral award was subsequently rendered against Russia. Sedelmayer has sought execution against Russian property in both Germany and Sweden over the last 13 years, without fully succeeding to satisfy the award. He also appealed to the European Court of Human Rights on the ground of the German proceedings. In this thesis, I will critically consider the implications that immunity from execution can have on execution of arbitral awards. Regard will be taken to sources of public international law, especially treaties and customary international law. I will also examine domestic legislation and case law in order to accurately consider national perceptions and tendencies of immunity from execution. I will especially use the Sedelmayer saga as an illustrating and exemplifying series of case law.