Vacating Arbitral Awards for Fraud- Is Actual Fraud on the Rise, or Just Awareness?

Short summary

Legal analysis examines whether fraud vacations of arbitral awards are actually increasing or whether improved transparency is simply surfacing more cases. Two categories emerge: evidence falsification (forged docs, perjury) and sham arbitrations with colluding arbitrators, with high-profile cases like Nigeria v. P&ID ($11B) and the Sulu case ($14.92B) vacated on fraud grounds.

• •Arbitral awards vacated for fraud appear more frequent post-Covid, possibly due to increased awareness rather than rising fraud rates
• •Fraud falls into two types: evidence falsification and sham arbitrations designed to obtain fraudulent awards
• •High-profile cases (P&ID, Eletson, Sulu) show courts will vacate awards when fraud materially impacts outcomes

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