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April 1, 2018 - Source: New York Dispute Resolution Lawyer

Summary of Report of the New York City Bar on Awards of Interest in International Commercial Arbitration


One question that often arises in international arbitrations governed by New York law and seated in New York is whether the arbitrators must or should apply New York’s prejudgment interest provisions (N.Y. C.P.L.R. §§ 5001, 5002, 5004) to the determination of pre-award or post-award interest. This article provides a brief overview of a detailed report by the International Commercial Disputes Committee (ICDC) of the New York City Bar Association addressing this question. The author of the article served as chair of the ICDC’s drafting subcommittee.