You need the Flash 8 plugin to view this banner.
Bookmark and Share
Monday, April 22nd 2019
You need the Flash 8 plugin to view this banner.
UK (England and Wales)
Register

Enter your email address to receive FREE global mediation news



Unsubscribe

Sponsors





Find out more >>


Featured Global Network Partner



Find out more >>

Find out more >>




Home > Country profiles > UK (England and Wales) > Articles > Article detail






Section 67 And 68 Challenges To LCIA Award Dismissed

Monday, 19th March 2019

"In the highly complex and contentious case of Filatona Trading Ltd and another v Navigator Equities Ltd and others [2019] EWHC 173 (Comm), the English High Court dismissed an attempted challenge to an LCIA award brought on the grounds of jurisdiction (s.67 Arbitration Act 1996) and serious irregularity (s.68 Arbitration Act 1996).

In particular, the Court held that an LCIA arbitral tribunal did not exceed the scope of its powers in ordering relief that was not available to an English court.

Background

The dispute arose under a shareholder agreement (SHA) concerning land in central Moscow. Ms Danilina and Mr Deripaska were named as parties to the SHA. Ms Danilina's former partner, Mr Chernukhin, was not. Mr Chernukhin's position was that Ms Danilina was acting as his nominee or agent and that, consequently, he was the true party to the SHA by virtue of being Ms Danilina's disclosed principal and the beneficial owner of Ms Danilina's shares. Ms Danilina and Mr Deripaska disputed this.

In arbitration proceedings between Mr Chernukhin and Mr Deripaska, an arbitral tribunal held that Mr Chernukhin was a party to the SHA and ordered Mr Deripaska to pay $95 million to "buy out" Mr Chernukhin's shareholding in the relevant Cypriot company."

Read further:


Web-link: http://www.mondaq.com/uk/x/788540/Arbitration+Dispute+Resolution/Section+67+And+...
Source: Herbert Smith Freehills
Language: English
Contact: Nicholas Peacock and Natalie Yarrow


< Back