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English Commercial Court: no supervisory jurisdiction over Toronto-seated ICC arbitration; anti-suit refused, but separate Liberian claim restrained to uphold London ICC clause (Investcom Global v PLC Investments)

Published on: 21 October 2024

Published by a LexisNexis Arbitration expert
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Investcom Global Ltd (incorporated under the laws of the British Virgin Islands) v PLC Investments Ltd (incorporated under the laws of The Republic of Liberia) and others [2024] EWHC 2505 (Comm)

What are the practical implications of this case?

As ever, commercial parties and their advisers should remain alert to the hazards created by a defective or pathological arbitration clause. In this dispute, the arbitration provision within a shareholders’ agreement (SHA) neither unequivocally identified any administering institution nor specified a juridical seat. That scenario forced the claimant to commence with an institution whose authority was later put in issue, and to accept that institution’s nomination of the arbitral seat, set as Toronto. When two respondents then brought Liberian proceedings to halt the arbitration, the English Court concluded it lacked jurisdiction to keep the injunction in place, because the claimant lacked a good arguable case that the tribunal would overturn the ICC’s determination and hold the seat to be London. The decision is also noteworthy for its handling of interconnected, multi-party and multi-contract cases...

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