Long-time Letters Blogatory commenter Alessandro Spinillo, an Argentine lawyer, has a new post at the Kluwer Arbitration Blog on The Madrid High Court of Justice and the Setting Aside of Arbitral Awards. The most interesting point in the post is that the Madrid High Court of Justice annuls awards more than 26% of the time. And it appears from a post Spinillo cites that the it’s not as though the court annulled 3 of 8 awards: it annulled 33 of 124. Spinillo points out, correctly, I think, that such a high annulment rate may “cause disruption to the development of Madrid as an emerging arbitration center,” especially since the court’s high annulment rate appears to be based on “its tendency to use public policy arguments as a door to review the merits of awards.”