For the purpose of suspending the efficacy of an arbitral award pursuant to Article 830(4) of the Code of Civil Procedure, the fumus boni iuris of the challenge constitutes a necessary and threshold condition: where the grounds advanced in support of the challenge do not appear, upon a first summary examination, capable of prima facie justifying the reversal of the award, and the award itself is not affected by manifest defects under any of the invoked heads, the application for suspension must be dismissed without any need to examine the existence of the periculum in mora.
The mere generic allegation that the opposing party is in liquidation does not constitute a periculum in mora that is adequately pleaded and concretely assessable for the purpose of suspending the efficacy of an arbitral award under Article 830(4) of the Code of Civil Procedure.