Facts
On January 17, 2014, the Republic of U. initiated an arbitration proceeding against F., the largest oil and gas company in State V., in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). The Arbitral Tribunal rendered a final award on December 23, 2016, rejecting the claims of the Republic of U.
On February 1, 2017, the Republic of U. filed a civil appeal and a request for revision with the Swiss Federal Tribunal, which were declared inadmissible on October 17, 2017.
On February 8, 2022, the Republic of U. submitted a new request for revision of the arbitral award, based on Article 190a of the Swiss Federal Act on Private International Law (PILA).
Considerations
The Federal Tribunal rejected the request for revision to the extent that it was admissible.
First, the new provisions of the PILA on the revision of international arbitral awards, which entered into force on January 1, 2021, apply to revision requests filed after that date, even if the challenged award was rendered before.
Second, the arbitration agreements concluded by the parties contain a clause excluding any…