🔍 Can a debtor avoid enforcement by claiming property was held on trust for a third party? Emile Yusupoff of 36 Stone explores a significant judgment in the case of Crescent Gas Corporation Limited v National Iranian Oil Company in our latest article: "A Failed Attempt to Avoid Enforcement: the Application of S.423 of the Insolvency Act 1986." ⚖️ Here’s what you'll learn: The Case Overview 🏠 Understand the background and main arguments in a landmark case involving a gas purchase contract and a disputed property transfer. Court’s Judgment 📜 Learn how the court ruled on the application of s.423 of the Insolvency Act 1986 and s.53(1)(b) of the Law of Property Act 1925. Key Legal Insights 🏛️ Discover the distinctions between legal and beneficial ownership under Iranian and English law. Lessons for Future Cases 📚 Gain insights into the importance of complying with formalities and a clear understanding of historic transactions. Read the full article via #DailyJus 🔗 https://lnkd.in/eBcZwhbR ✒ If you are interested in collaborating with London London VYAP - London Very Young Arbitration Practitioners publishing under our 𝗲𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽, get in touch and submit your proposal to 📧 [email protected].
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The UK Supreme Court has handed down judgment in Republic of Mozambique v Privinvest [2023] UKSC 32 concerning what constitutes a "matter" for the purposes of a stay under s 9 of the Arbitration Act 1996, largely endorsing Sundaresh Menon CJ's pioneering reasoning in Tomolugen on the same issue (in the context of s 6 of the International Arbitration Act 1994). One of the key points at [75] is that a “matter” is a substantial issue that is legally relevant to a claim or a defence, or foreseeable defence, in the legal proceedings, and is susceptible to be determined by an arbitrator as a discrete dispute. Conversely, if the “matter” is not an essential element of the claim or of a relevant defence to that claim, it is not a matter in respect of which the legal proceedings are brought. One of the perennial problems that arises on these sorts of applications, however, is precisely that: what does it mean for a disputed allegation to be an "essential element" of the claim or a "relevant defence" to it? The Supreme Court's reasoning on this point seems to suggest that the court is obliged at a very preliminary stage to carry out a forensically demanding exercise of analysing the merits in order to decide whether a disputed allegation is a "substantial issue" that is "legally relevant". This is likely to promote clever attempts at pleading claims so as to smuggle in ancillary points that should properly be arbitrated. https://lnkd.in/gNAYf2FQ
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Be aware of the legal impact of the ongoing situation in the #Red #Sea. #LNGShipping2024 #RivieraMaritimeMedia #LNGcarrier #FLNG #FSRU #LNGterminals #BioLNG #lngshipping #vessel #emissionsreduction #greentransition #shippingindustry #marinefuels #maritimeindustry #fuelefficiency #finance Ashurst Matthew Saunders
Red Sea delays, legal disputes in the LNG shipping sector
rivieramm.com
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Charting Legal Waters: Navigating Contractual Disputes in Nigeria's Oil and Shipping Sectors #oil #shipping #nigerianoilsector #pensburyattorneys #legalwaters #contractdisputes #nigeriasoilandshippingsector #lawfirm #abujafirm #nigerianlaw #oilandgas #legalassistance #disputes #exploration #governmentagencies #legallandscape #laws #customarylaw #contractlaw #legalstrategy #arbitration
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Good news for Nigeria.
JUST IN! Process & Industry Development (P&ID) has lost the controversial $6.6 billion ( minus interests) arbitrary suit against Nigeria. A UK Judge Robin Knowles of the Business and Property Court in London court ruled that the award was obtained by fraud and that what has happened in the case is ‘contrary to public policy’. P&ID claimed Nigeria violated the terms of its agreement by failing to provide gas for the power plant it wants to build for the country. Nigeria’s International assets and oil cargoes were supposed to be seized by the firm if Nigeria lost the appeal. https://lnkd.in/gwtSCexX
UK Judge dismisses $11.5bn P&ID arbitral award against Nigeria
http://businessday.ng
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The Theory of Enforcement of Public Rights in Anfal and Public Wealth in the Oil and Gas Sector Ali Reza Mohammadi Department of Public law, North Tehran Branch, Islamic Azad University,Tehran, Iran. Mohammad Saber Rad Corresponding Author; Department of International Law, North Tehran Branch, Islamic Azad University, Tehran, Iran. Ehsan Agha Mohammadaghaee Department of Public Law, North Tehran Branch, Islamic Azad University, Tehran, Iran. DOI:https://lnkd.in/gcn2bNxv Keywords: #Anfal, #Public ownership, #Public rights, #Good governance, #Overseeing government actions.
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In a recent ruling, a UK High Court decisively rejected the enforcement of a multi-million-pound arbitration award, characterizing it as a '𝗳𝗮𝗯𝗿𝗶𝗰𝗮𝘁𝗶𝗼𝗻.' The case of 𝘾𝙤𝙣𝙩𝙖𝙭 𝙋𝙖𝙧𝙩𝙣𝙚𝙧𝙨 𝙄𝙣𝙘 𝘽𝙑𝙄 𝙫. 𝙆𝙪𝙬𝙖𝙞𝙩 𝙁𝙞𝙣𝙖𝙣𝙘𝙚 𝙃𝙤𝙪𝙨𝙚 (𝙆𝙁𝙃-𝙆𝙪𝙬𝙖𝙞𝙩) & 𝙊𝙧𝙨 revolves around a court order granting Contax BVI, characterized as an oil and gas company, permission to execute a Kuwaiti arbitration award of more than £70 Million. The Defendants not only contested the validity of the enforcement order but vehemently argued that a legitimate arbitration never transpired. The Court while concurring with the Defendants also observed that substantial portions of the award were copied from the judgment in the case of Manoukian v. Société Générale de Banque au Liban SAL. The Court further highlighted compelling reasons to believe that the award itself is a fabrication including discrepancies in language, non-compliance with the Kuwaiti Law, and inconsistencies regarding individuals purportedly involved in the arbitration process, as revealed by the Defendants' evidence. The uncanny similarities raised suspicions of a meticulously crafted fabrication, prompting the Court to call for a thorough investigation into the intricacies of the case. #unitedkingdom #uk #highcourt #arbitration #investmentarbitration #internationalarbitration #award #kuwait #internationalnews #update
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Kings Counsel specialising in international commercial litigation and arbitration; Vice Chair of the LCLCBA
Some more food for thought on anti-suits in an already big week for the remedy. In this case a contractual basis anti-suit (an anti anti arbitration injunction - too many antis for a Friday?) was refused for discretionary reasons, including comity, delay, and the effect of a voluntary submission in the foreign forum. It is a useful reminder that while often a ‘ritual cantation’ that takes you nowhere in a contractual ASI case, in the right circumstances comity remains a powerful inhibitory factor against an ASI.
Judgment was handed down today in Euronav Shipping NV v Black Swan Petroleum DMCC [2024] EWHC 896 (Comm), declining a contractual anti-suit injunction application. Oliver Caplin KC, instructed by Oon & Bazul LLP and Campbell Johnston Clark (CJC), acted for the successful respondent, Black Swan Petroleum (BSP), resisting an application made by Euronav Shipping (Euronav) for a rare form of anti-suit injunction, an ‘anti-anti-arbitration injunction’ (or AAAI), which was designed to require BSP to discharge an anti-arbitration injunction that it had obtained from the High Court of Malaysia (the ‘AAI Order’) and which itself restrained Euronav’s prosecution of a London-seated LMAA arbitration. This case will be of interest to practitioners dealing with anti-suit injunctions generally, and those involved in cross-border conflicts between arbitration and litigation – and in particular highlights the way in which party conduct can have a real and appreciable impact on the availability of this discretionary remedy. https://lnkd.in/dsu2ZA2p
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12 Jun 12:15: ‘◾ Formal end to gas supply relationship with Gazprom Export after positive ruling for Uniper in arbitration proceedings ◾ Arbitration tribunal has awarded Uniper the right to terminate its long-term gas supply contracts and an amount of more than €13 billion in damages for non-delivery of gas ◾ Uniper CEO Michael Lewis: “The ruling provides legal clarity for Uniper” ‘: Thank you, Yuriy 🇪🇪🇺🇦:
Founder Chairman and CEO of OGRAND OÜ(LLC) ✔Zero tolerance for the crimes of Putin's RF✔
◾ Formal end to gas supply relationship with Gazprom Export after positive ruling for Uniper in arbitration proceedings ◾ Arbitration tribunal has awarded Uniper the right to terminate its long-term gas supply contracts and an amount of more than €13 billion in damages for non-delivery of gas ◾ Uniper CEO Michael Lewis: “The ruling provides legal clarity for Uniper” Uniper decided today to terminate its long-term Russian gas supply contracts and thus legally ended the long-term gas supply relationship with the Russian state-owned company Gazprom Export. The decision was made possible after an arbitration tribunal on June 7 awarded Uniper the right to terminate the contracts and awarded it an amount of more than €13 billion in damages for the gas volumes not supplied by Gazprom Export since mid-2022. Although only limited gas volumes had been delivered since June 2022 and no gas volumes since the end of August 2022, the long-term gas supply contracts between the two companies were still legally in force and individual contracts would have continued to exist until the mid-2030s. After Uniper suffered substantial losses due to the Russian gas supply restrictions, the company initiated arbitration proceedings against Gazprom Export at the end of 2022. The option of dispute resolution via an arbitration tribunal was contractually agreed and had in the past in respect of other disputes been invoked repeatedly by both sides. The tribunal, seated in Stockholm, ruled in accordance with Swiss law. The arbitration ruling is legally binding and final. “This ruling provides legal clarity for Uniper. With the right of termination that we received in the arbitration ruling, we are ending the contracts with Gazprom Export. Uniper's legal position was also confirmed on the issue of damages. Any amounts would flow to the German federal government. From today's perspective, it is not yet clear whether significant amounts are to be expected. Michael Lewis, CEO of Uniper https://lnkd.in/dWjytppG
Uniper terminates Russian gas supply contracts
uniper.energy
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Our recent publication in the ICLG Navigating the Legal Landscape of Iran's Oil Industry: A Guide for Foreign Entities https://lnkd.in/d8dFiSRt
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* The Private Power and Infrastructure Board (PPIB) has sought foreign exchange to meet outstanding expenses with respect to international arbitration with M/s Star Hydropower Limited (SHPL) as the government of Pakistan is facing an exceptional situation with respect to this litigation. * Strategic Considerations in #Energy #Disputes #Arbitration https://lnkd.in/gdCvdd2
Int’l arbitration with SHPL: PPIB seeks forex to cover expenses
brecorder.com
