Arbitration analysis: In this decision, the Versailles Court of Appeal (ruling on remand) issued a groundbreaking decision on the statute of limitations applicable to leave application for enforcement of international arbitral awards in France. After an initial request for leave to enforce was filed in 2016 and eventually withdrawn in 2017 to comply with an anti-suit injunction from the New York Supreme Court, an investor (the claimant) filed a new request for leave to enforce in November 2018. This request having been granted, Citigroup Global Market Inc along with one of its individual bankers (the respondents, and together with the claimant, the parties) appealed the decision before the Paris Court of Appeal, which dismissed the appeal. Overturning this decision, the French Supreme Court remanded the case to the Versailles Court of Appeal. The court ultimately ruled that a five-year limitation period from the date of issuance of the award...
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