NACIONALINIŲ ARBITRAŽO TEISMŲ SPRENDIMŲ VYKDYMO ATIDĖJIMAS IR (AR) IŠDĖSTYMAS. LAIKAS IMTIS REGLAMENTAVIMO ATNAUJINIMŲ?
POSTPONEMENT AND/OR INSTALMENT OF EXECUTION OF AWARDS OF NATIONAL ARBITRAL TRIBUNALS. TIME TO TAKE REGULATORY UPDATES?

Summary/Abstract: This article analyses the problematics of regulation of the institute of postponement and instalment of execution of arbitral awards adopted by arbitral (national) tribunals of the Republic of Lithuania and seeks effective solutions to the stated problematics. The research revealed that the Code of Civil Procedure of the Republic of Lithuania (CCP) and the Law on Commercial Arbitration (LCA) do not regulate the institute of postponement and instalment of the execution of national arbitral awards. For this reason, Lithuanian courts refuse to examine requests of the parties to the arbitration proceedings regarding the postponement and/or instalment of the execution of national arbitral awards, i.e., refuse to protect the rights and interests of the parties to the arbitration proceedings, whereas, in a similar case, the provisions of the CCP allow the Lithuanian courts to postpone and/or install the execution of foreign arbitral awards upon the requests of the parties to the arbitration proceedings. The study analysed the ways to eliminate the existing loopholes in the legal regulation of the CCP and the LCA, and it was concluded that these loopholes can be eliminated: (1) by applying the analogy of law – on the basis of Article 284 of the CCP and Paragraph 4 of Article 41 of the LCA, local Lithuanian district courts can assume the competence and jurisdiction to examine requests of concerned persons to postpone and/or install the execution of national arbitral awards; (2) legislatively – by supplementing the LCA with a new Article 411 and by regulating the institute of postponement and instalment of execution of national arbitral awards, thereby providing the parties to the arbitration proceedings a legal certainty and clarity regarding the actual exercise and protection of their rights and interests.

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