12 February, 2020
The Maldives has acceded to the Convention on Recognition and Enforcement of Foreign Arbitral Awards 1958, known as the New York Convention, becoming the 161st country to do so.
The Convention requires contracting states to recognize and enforce arbitral awards made in other contracting states in the same way they would for a domestic award, subject to certain limited exceptions.
The Maldives accession to the convention will, therefore, facilitate the enforcement in the Maldives of arbitral awards from other convention states, as well as enhancing the enforceability of awards from the Maldives in other convention states. The Convention came into force in the Maldives on 16 December 2019.
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For further information, please contact:
Milton W. M. Cheng, Partner, Baker & McKenzie