The Munich Court of Appeals (Oberlandesgericht) has held that a Russian Arbitrazh Court (Arbitragegericht, in the German original) is a state court, and not an arbitral tribunal. As a result, the application to the Munich court to recognize and enforce the Arbitrazh court’s judgment as a foreign arbitration award pursuant to Sec. 1061 German Code of Civil Procedure (ZPO) and the New York Convention was denied. Read More
Tag: Oberlandesgericht München
Litigation Funding and Success Fees: A Risky Combination
In an earlier post, I had said that the regulatory environment for litigation funding in Germany is pretty straight forward. However, success fees remain by and large illegal in this country, a certain liberalization in 2008 not withstanding. Which makes for a potentially dangerous combination. A recent judgment (paywalled) by the Court of Appeals (Oberlandesgericht) Munich dealt with the intersection of litigation funding on the one hand and success fees on the other hand. Read More