Alain Choo Choy Q.C. leading Matthew Cook of One Essex Court represented MRI Trading AG before the Court of Appeal in successfully resisting the appeal by Erdenet Mining against the decision of Mr Justice Eder [2012] 2 Lloyd’s Rep 465 in which MRI Trading had successfully reversed an award from a London Metal Exchange Arbitration Tribunal. The Court of Appeal upheld Mr Justice Eder’s decision that a copper concentrate contract was not unenforceable because aspects of the price and the delivery schedule were left “to be agreed” at the start of the shipment year, since these outstanding matters could be determined by arbitration if not agreed. The Court of Appeal also upheld Mr Justice Eder’s analysis of the approach which the Court should take to considering appeals on points of law from arbitration awards and the circumstances in which the Court should remit an issue of law for reconsideration by an arbitral Tribunal in circumstances in which the Court concludes that the Tribunal have approached the issue incorrectly.
Successfully appealing against an arbitral award is very difficult to do and the decision of the Court of Appeal and of Mr Justice Eder provide important guidance to potential appellants on the standard which will need to be met.