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Tag Archives: ICC arbitration

One Step Forward, Two Steps Back – PRC Court refuses to enforce an ICC award on the ground of public policy

In Wicor Holding A.G. v. Taizhou Haopu Investments Limited (Civil Action (2015) Tai Zhong Shang Zhong Shen Zi No. 00004), the Taizhou Intermediate People’s Court refused to enforce an ICC award on the ground of public policy. Facts Taizhou Haopu Investment Limited (“Haopu“) entered into a joint venture agreement (“JVA“) with Wicor Holding A.G. (“Wicor“) in 1997, establishing a joint venture company (“JV“).  The parties agreed in the JVA to have their disputes arbitrated “in accordance with ICC mediation and arbitration rules“.  The JVA also provided that “if one party

The principle of non-intervention in arbitral proceedings does not displace a court’s inherent jurisdiction to grant injunctions

In Sonera Holding B.V. v. Cukurova Holding A.S. BVIHCMAP2015/0005, the Eastern Caribbean Court of Appeal (“CA“) granted an injunction restraining Cukurova Holding A.S. (“CH“), the respondent, from pursuing arbitral proceedings which could have undermined the enforcement of an earlier arbitral award.  The judgment provides a detailed analysis of the courts’ power to grant anti-arbitration injunctions following the enactment of the BVI Arbitration Act in 2013 (“Arbitration Act“). Facts In 2005, Sonera Holding B.V. (“Sonera“) entered into a letter agreement (“Letter Agreement“) with CH to buy shares owned by CH.  The

ICC names Singapore as fourth most preferred seat of arbitration in the world

The 2015 ICC statistics are in, and it’s looking better than ever for Singapore. In its latest report, the ICC has confirmed Singapore as the number one seat in Asia and the fourth most preferred seat globally for ICC arbitration. The 2015 ICC Dispute Resolution Statistics have revealed that, in 2015, over 6% of all new ICC cases named Singapore as the seat of arbitration, upholding its ranking as the number one seat of ICC Arbitration in Asia. Whilst the number of Singapore parties remained constant over the last 12