Arbitral Digest

Matter

A COMPANY v THE BANK (Hong Kong High Court of First Instance HCCT 162/2025)

  1. 11 June 2025Arbitration

    11 June 2025Arbitration

    Partial Final Arbitral Award dated 11 June 2025

    London Court of International Arbitration

    Decision summary
    The tribunal held that the guarantees were to be performed in Russia, that the Bank had not established that Canadian sanctions applied to A COMPANY or that payment was illegal, and ordered the Bank to pay EUR 30,012,624.18 plus interest.

    Supporting details

    5 participants
    A COMPANY
    THE BANK
    London Court of International Arbitration
    Arbitrator
    Douglas Jones
    Arbitrator
    Nigel Teare

    5 months and 29 days later · 182 days

  2. 10 December 2025Arbitration

    10 December 2025Arbitration

    Further Partial Final Award dated 10 December 2025

    London Court of International Arbitration

    Decision summary
    The tribunal made a further partial final award concerning costs in the arbitration.

    Supporting details

    London Court of International Arbitration

    5 months and 24 days later · 175 days

  3. 3 June 2026Hong Kong

    3 June 2026Hong Kong

    Decision of the Court of First Instance of the High Court of Hong Kong in HCCT 162/2025 dated 3 June 2026

    Court of First Instance of the High Court of Hong Kong

    Case no.
    HCCT 162/2025
    Citation
    [2026] HKCFI 3169
    Decision summary
    The Court dismissed the Bank’s summons seeking to set aside or stay enforcement of the arbitral award. It held that enforcement would not violate Hong Kong public policy because a real risk of Canadian prosecution had not been established, declined an indefinite stay, and ordered the Bank to pay the Applicant’s costs on an indemnity basis.

    Supporting details

    28 authorities · 9 participants
    Application
    Setting Aside Summons — Dismissed
    Application
    Stay of enforcement — Declined
    A COMPANY
    Representative
    Abraham Chan SC (For: A COMPANY)
    Representative
    William Wong (For: A COMPANY)
    Representative
    Georgiou Partnership LLP (For: A COMPANY)
    THE BANK
    Representative
    Timothy Parker SC (For: THE BANK)
    Representative
    Sheena Wong (For: THE BANK)
    Representative
    Ashurst (For: THE BANK)
    Court of First Instance of the High Court of Hong Kong

    Authorities cited

    28
    • Arbitration Ordinance (Cap 609) (Arbitration Ordinance, Cap 609)
      statute
    • Rules of the High Court (Cap 4A) (Order 73 of the Rules of the High Court, Cap 4A)
      court rules
    • Special Economic Measures Act of Canada 1992 (SEMA)
      statute
    • Russia Regulations made under the Special Economic Measures Act
      regulations
    • New York Convention (Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958))
      treaty
    • Basic Law of the Hong Kong Special Administrative Region (Basic Law, Articles 13 and 19)
      constitution
    • Betamax Ltd v State Trading Corp [2022] All ER (Comm) 1
      case
    • Soleimany v Soleimany [1999] 3 All ER 847
      case
    • Westacre Investments Inc v Jugoimport-SDPR Holding Co Ltd [1999] 1 All ER (Comm) 865
      case
    • AUJ v AJT [2011] SGCA 41
      case
    • RBRG Trading (UK) Ltd v Sinocore International Co Ltd [2018] EWCA Civ 838
      case
    • Bank Mellat v HM Treasury [2019] EWCA Civ 449
      case
    • O v C [2026] 4 WLR 5
      case
    • Akhmedova v Akhmedov [2020] EWHC 2235 (Fam); [2021] 1 FLR 667
      case
    • Joshua v Renault SA [2024] EWHC 1424 (KB)
      case
    • Tugushev v Orlov [2021] EWHC 1514 (Comm)
      case
    • Public Institution for Social Security v Al Wazzan [2023] EWHC 1065
      case
    • Re Nanik Dayaram HCB 7651/2011 (6 November 2015)
      case
    • Ryder Industries Ltd v Chan Shui Woo (2015) 18 HKCFAR 544
      case
    • Hebei Import & Export Corp v Polytek Engineering Co Ltd (1999) 2 HKCFAR 111
      case
    • A v R [2009] 3 HKLRD 389
      case
    • AT v QC [2026] HKCFI 1437
      case
    • G v N [2024] 2 HKC 510
      case
    • Xiamen Xinjingdi v Eton Properties Limited [2009] 4 HKLRD 353
      case
    • Sinocore International Co Ltd v RBRG Trading (UK) Ltd [2019] 1 All ER (Comm) 810 (CA)
      case
    • PT Transportasi Gas Indonesia v ConocoPhillips (Grissik) Ltd [2016] 2 Lloyd’s Rep 600
      case
    • DNZ v DOZ [2026] SGHC (I)
      case
    • Bank A v Bank B [2024] 5 HKLRD 250
      case

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A COMPANY v THE BANK (Hong Kong High Court of First Instance HCCT 162/2025) · Matter