Challenge of Arbitration Awards on Merits
Yaroslav A. Petrov
It is generally recognized that an arbitral award shall be final and binding, but notwithstanding this it may be challenged in the courts of the country where it was rendered. National arbitration laws of different countries set out grounds for challenging (setting aside) of arbitration awards.
As regards Ukraine, Article 34 of the International Commercial Arbitration Act (which mirrors the UNCITRAL Model Law on the International Commercial Arbitration of 21 June 1985 (the Model Law) contains the following exhaustive list of grounds for setting aside of arbitral awards, namely:
— incapacity of a party that executed the arbitration agreement at the time of its execution…
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