Facts
In this case, the Federal Tribunal rejected the civil appeal filed by X. Inc. against the arbitral award rendered in favor of Z. Ltd.
The Arbitral Tribunal, sitting in Geneva under the auspices of the Swiss Chambers' Arbitration Institution and applying Swiss law, ordered X. Inc. to pay various amounts to Z. Ltd. and found that the sequestration ordered by the competent jurisdiction of the canton of Geneva for the claims of Z. Ltd. was duly validated by the debt recognition action brought before it.
Considerations
The Federal Tribunal rejected X. Inc.'s appeal to the extent that it was admissible.
Firstly, the Federal Tribunal considered that the Arbitral Tribunal had jurisdiction to rule on the validation of the sequestration. Indeed, the action for validation of sequestration is a substantive law action aimed at establishing the existence of the claim underlying the sequestration, and federal case law and doctrine accept the possibility of replacing the debt recognition action before a state court with an arbitration procedure.
Secondly, the Federal Tribunal considered that the Arbitral Tribunal's finding of compliance with the time limits of Article 279 of the Debt Enforcement and Bankruptcy Act (LP) for the validation of the sequestration, although…