Brazilian STJ recognises foreign arbitral award rendered in foreign currency | Practical Law

Brazilian STJ recognises foreign arbitral award rendered in foreign currency | Practical Law

In Caterpillar (CMGCK) v Multiner (M S/A) and Termelétrica (TI S/A), Foreign Award n. 11.969 – EX, the Brazilian Superior Court of Justice (STJ) considered whether an arbitral award, that provided for payment of damages in a foreign currency, was contrary to Brazilian public policy or national sovereignty.

Brazilian STJ recognises foreign arbitral award rendered in foreign currency

Practical Law UK Legal Update Case Report 7-624-8077 (Approx. 4 pages)

Brazilian STJ recognises foreign arbitral award rendered in foreign currency

by Eduardo Damião Gonçalves (Partner), Flávio Spaccaquerche Barbosa (Associate), Bruno Barreto de Azevedo Teixeira (Associate), Mattos Filho Advogados
Published on 15 Mar 2016 • Brazil
In Caterpillar (CMGCK) v Multiner (M S/A) and Termelétrica (TI S/A), Foreign Award n. 11.969 – EX, the Brazilian Superior Court of Justice (STJ) considered whether an arbitral award, that provided for payment of damages in a foreign currency, was contrary to Brazilian public policy or national sovereignty.