Arbitral Digest

Matter

AB Limited et al v GH Limited (BVIHCM 2021/0192)

Seat
Singapore
Applicable rules
ICC Arbitration Rules
Substantive governing law
Thai law
  1. 22 September 2017Singapore

    22 September 2017Singapore

    GHL First Partial Final Award

    International Chamber of Commerce

    Decision summary
    The tribunal dismissed ABL's claim for rescission and granted its alternative claim for payment of the US$85.75 million GHL First Instalment, with interest.

    Supporting details

    3 participants
    AB Limited
    GH Limited
    JKL, Ltd.
    International Chamber of Commerce
  2. 22 September 2017Singapore

    22 September 2017Singapore

    JKL First Partial Final Award

    International Chamber of Commerce

    Decision summary
    The tribunal awarded CDL and EFL relief for interest in relation to the JKL Arbitration after considering their claims concerning unpaid instalment amounts.

    Supporting details

    3 participants
    CD Limited
    EF Limited
    JKL, Ltd.
    International Chamber of Commerce

    1 year, 10 months and 14 days later · 682 days

  3. 5 August 2019Singapore

    5 August 2019Singapore

    Award recording the tribunal's refusal to correct the Phase 2 awards

    International Chamber of Commerce

    Decision summary
    The tribunal refused to correct the GHL Phase 2 Award and JKL Phase 2 Award by substituting simple interest for compound interest, considering itself functus officio.

    Supporting details

    5 participants
    AB Limited
    CD Limited
    EF Limited
    GH Limited
    JKL, Ltd.
    International Chamber of Commerce

    1 year, 8 months and 28 days later · 637 days

  4. 3 May 2021Singapore

    3 May 2021Singapore

    LMN Final Award

    International Chamber of Commerce

    Decision summary
    The tribunal ordered JKL, Ltd. and HIL Limited to pay the claimants' legal costs.

    Supporting details

    5 participants
    AB Limited
    CD Limited
    EF Limited
    JKL, Ltd.
    HIL Limited
    International Chamber of Commerce

    1 year, 8 months and 24 days later · 634 days

  5. 27 January 2023British Virgin Islands

    27 January 2023British Virgin Islands

    Judgment of the High Court of Justice, Commercial Division, British Virgin Islands in the case BVIHCM 2021/0192 dated 27 January 2023

    Eastern Caribbean Supreme Court, British Virgin Islands, High Court of Justice, Commercial Division

    Case no.
    BVIHCM 2021/0192
    Decision summary
    The Court held that enforcing the compound-interest portions of the GHL and JKL Phase 1 Awards would conflict with British Virgin Islands public policy because the underlying agreements were governed by Thai law and the awarded compound interest was illegal under that law. It set aside the Enforcement Order to that extent and directed a further hearing on the remaining consequential, allocation, and JKL issues.

    Supporting details

    14 authorities · 11 participants
    AB Limited
    Expert
    Mr. EP (For: AB Limited)
    CD Limited
    EF Limited
    GH Limited
    Representative
    Stephen Moverley Smith KC (For: GH Limited)
    Representative
    Merrick Ricardo Watson (For: GH Limited)
    Expert
    Professor ES (For: GH Limited)
    Eastern Caribbean Supreme Court, British Virgin Islands, High Court of Justice, Commercial Division
    Other
    Representative
    Alain Choo-Choy KC (For: AB Limited et al)
    Representative
    Tameka Davis (For: AB Limited et al)

    Authorities cited

    14
    • British Virgin Islands Arbitration Act 2013 (Arbitration Act 2013)
      statute
    • British Virgin Islands Civil Procedure Rules 2000 (Civil Procedure Rules 2000)
      statute
    • Thai Civil and Commercial Code
      statute
    • Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention)
      treaty
    • UNCITRAL Model Law on International Commercial Arbitration
      model law
    • Cukurova Holding A.S. v Sonera Holding B.V. ([2014] UKPC 15)
      case
    • PT Ventures SGPS SA v Vidatel Ltd (BVIHCM 2015/0117)
      case
    • Westacre Investments Inc. v Jugoimport-SPDR Holding Co. Ltd ([1999] QB 740)
      case
    • Soleimany v Soleimany ([1999] QB 785)
      case
    • Betamax Ltd v State Trading Corporation ([2021] UKPC 14)
      case
    • IPCO (Nigeria) Ltd v Nigerian National Petroleum Corporation ([2017] UKPC 16, [2017] 1 WLR 970)
      case
    • RBRG Trading (UK) Ltd v Sinocore International Co Ltd ([2019] 1 All ER (Comm) 810)
      case
    • David Taylor & Son Ltd v Barnett Trading Co. ([1953] 1 WLR 562)
      case
    • Adamovsky v Malitskiy (BVIHCMAP 2014/0022)
      case
  6. Date not availableSingapore

    Date not availableSingapore

    GHL Phase 2 Award

    International Chamber of Commerce

    Decision summary
    The tribunal rejected the counterclaims, found the GHL First Instalment due and payable, and ordered release of the US$85.75 million escrow payment to ABL; it also awarded compound interest compounded annually.

    Supporting details

    3 participants
    AB Limited
    GH Limited
    JKL, Ltd.
    International Chamber of Commerce
  7. Date not availableSingapore

    Date not availableSingapore

    JKL Phase 2 Award

    International Chamber of Commerce

    Decision summary
    The award included compound-interest relief; the Singapore Court of Appeal later set aside parts of the Phase 2 awards, including the compound-interest element.

    Supporting details

    3 participants
    CD Limited
    EF Limited
    JKL, Ltd.
    International Chamber of Commerce

Matter record

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AB Limited et al v GH Limited (BVIHCM 2021/0192) · Matter