The Commercial Court has dismissed a claim that two arbitral awards should be set aside on the basis that they contained serious irregularities. The judgment of Mr Justice Cooke sets out the very limited circumstances in which the Court should interfere with arbitral awards. The defendant (Siemens) persuaded the Court that a claimant who seeks to misuse the provisions in the Arbitration Act 1996...
An ICC Tribunal (Geneva seat) has ordered the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company (the two Egyptian state owned energy companies) to pay approximately US$1.7 billion in damages to Israel Electric Corporation (the Israeli national electricity supplier). The dispute raised significant issues concerning pipeline security (and the standards expected of reasonable...
Lebara Mobile Ltd v Lycamobile UK Ltd  EWHC 3318 (Ch)). On 17 November 2015, Nicholas Lavender QC, sitting as a Deputy High Court Judge dismissed an application by Lebara for an interim injunction that had been sought by Lebara to prevent what is known as the “blocking” of Lyca customers, that prevented the access by Lyca’s customers to Lebara’s websites over Lycamobile’s...
The Commercial Court has dismissed a breach of contract claim brought by a London-based broker dealer (Molton Street Capital) against a New York-based counterparty (Odeon Capital) concerning a trade in residential mortgage-backed securities. The judgment addresses a number of important issues, including the application of the Rome I Regulation to back-to-back contracts of sale and the defence of illegality....
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