In Certain Underwriters at Lloyds, London v. 3131 Veterans Blvd LLC, the US Court of Appeals for the Second Circuit held that Article II Section 3 of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) is self-executing and therefore not subject to reverse-preemption under Louisiana law according to the McCarran-Ferguson Act. In reaching this conclusion, the Second Circuit abrogated its prior decision in Stephens v. American International Insurance by applying the legal test that the US Supreme Court set out in Medellin v. Texas.
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Article II Section 3 of the New York Convention is Self-Executing: Second Circuit Abrogates Prior Decision
