ICC report on financial institutions and international arbitration: a condensed overview of a gradually changing landscape

This autumn, the ICC Commission on Arbitration and ADR published a report on Financial Institutions and International Arbitration (the "Report"). The Report offers a detailed analysis of the use of international arbitration in specialist sectors of the banking and finance industry, from derivatives and sovereign finance to advisory matters and asset management. The Report is … Read more

The English High Court extends an anti-suit injunction against proceedings brought in breach of an arbitration agreement

In the latest chapter of a long-running dispute (John Forster Emmott v Michael Wilson & Partners [2016] EWHC 3010 (Comm)), different aspects of which have been considered by various jurisdictions around the world for over ten years, the English High Court has continued an anti-suit injunction preventing proceedings in New South Wales on the basis … Read more

Agreeing to Arbitrate in the UAE: “Apparent Authority” and Article 25 of the UAE Commercial Companies law

It has long been believed that an arbitration clause in a contract could not be enforced against a UAE company unless the person signing the contract had specific authority to bind the company to arbitration, and not simply authority to enter into the contract. In Ginette PJSC and (1) Geary Middle East FZE and (2) Geary Limited, however, the DIFC Courts … Read more

When does “may” mean “shall”? Hong Kong Court rejects argument that permissive language creates either a binding arbitration agreement or a right to compel arbitration

In The Incorporated Owners of Wing Fai Building, Shui Wo Street v Golden Rise (HK) Project Company Limited DCCJ 225/2016, a Hong Kong court considered the effect of a dispute resolution clause that provided that parties "may" refer disputes to arbitration (click here for the full judgment). The Defendant applied for a stay of proceedings … Read more

English High Court refuses to determine the existence of a disputed arbitration clause prior to the commencement of arbitration proceedings

In a recent decision, the English High Court determined that it would be wrong in principle for the court to determine whether parties to a disputed contract had entered into a binding arbitration agreement in circumstances where one party intended to commence arbitration proceedings on the basis of the disputed arbitration agreement: HC Trading Malta … Read more

Hong Kong CFI stays proceedings in favour of arbitration notwithstanding defendant’s submission to Hong Kong courts; upholds arbitration agreement contained in related contract

The Hong Kong CFI has stayed a claim under a deed of guarantee pending arbitration on the basis of an arbitration agreement in a Subscription Agreement containing the guaranteed obligations (Bluegold Investment Holdings Ltd v Kwan Chun Fun Calvin [2016] HKEC 532) – notwithstanding a non-exclusive choice of the Hong Kong courts in the Guarantee.  … Read more

“Any Party may submit a dispute to arbitration”: Privy Council interprets permissive language as giving parties the right to compel arbitration by giving notice after litigation begins

In the case of Anzen Limited and others (Appellants) v Hermes One Limited (Respondent) (British Virgin Islands), the Privy Council ("PC") considered the impact of a dispute resolution clause providing that "any Party may submit the dispute to binding arbitration". The PC held that this wording did not prevent a party from starting litigation in … Read more