Matter
BEC Limited v A2 and A1 (LCIA Case No. 153051)
- 3 June 2016England
3 June 2016England
LCIA Case No. 153051 Procedural Order No. 1
London Court of International Arbitration
- Decision summary
- The Tribunal permitted BEC Limited and BECB to withdraw their claims, with A2 and A1's cross-claim becoming the main claim; costs concerning the withdrawn claim were reserved to the Final Award.
Supporting details
4 participantsBEC Limited
BECB Limited
A2
A1
London Court of International Arbitration
2 years, 9 months and 9 days later · 1012 days
- 12 March 2019England
12 March 2019England
LCIA Case No. 153051 Partial Award on Liability
London Court of International Arbitration
- Decision summary
- The Tribunal concluded that no promise or common agreement required A2 and A1 to cover BECB's tax liabilities. It held that BEC Limited and BECB were not liable to indemnify those liabilities, while A2 and A1 were contractually liable to indemnify BECB, and reserved the alternative claim for the Final Award.
Supporting details
4 participantsBEC Limited
BECB Limited
A2
A1
London Court of International Arbitration
2 years, 7 months and 1 day later · 946 days
- 13 October 2021England
13 October 2021England
LCIA Case No. 153051 Final Award on Quantum (Save as to Undertakings)
London Court of International Arbitration
- Decision summary
- The Tribunal awarded BECB US$142,943,168 for the Tax Benefit and held BEC Limited and BECB jointly and severally liable for US$6,185,886.85 in fees and disbursements and GBP 618,249.91 in arbitration costs, with specified interest.
Supporting details
4 participantsBEC Limited
BECB Limited
A2
A1
London Court of International Arbitration
7 months and 20 days later · 232 days
- 2 June 2022British Virgin Islands
2 June 2022British Virgin Islands
Judgment of the Eastern Caribbean Supreme Court, High Court of Justice (Commercial Division) in Claim No. BVIHC (COM) 2022/0059 dated 2 June 2022
Eastern Caribbean Supreme Court, High Court of Justice (Commercial Division)
- Decision summary
- The court refused BEC Limited's application to set aside the statutory demand served by A2 and A1 for arbitration fees, disbursements, and costs. It held that enforcement of the arbitration award did not offend the revenue rule, the Company did not satisfy the Sparkasse Bregenz test, and the award itself was sufficient evidence of an undisputed debt under the Insolvency Act 2003.
Supporting details
18 authorities · 8 participantsBEC Limited
- Representative
- Phillip Riches QC (For: BEC Limited)
- Representative
- Olga Osadchaya (For: BEC Limited)
A2
- Representative
- Timothy de Swardt (For: A2 · A1)
- Representative
- Merrick Ricardo Watson (For: A2 · A1)
A1
- Representative
- Timothy de Swardt (For: A2 · A1)
- Representative
- Merrick Ricardo Watson (For: A2 · A1)
Eastern Caribbean Supreme Court, High Court of Justice (Commercial Division)
- Judge
- Adrian Jack
- Date not availableEngland
Date not availableEngland
Order of the English Commercial Court extending time to challenge the award
English Commercial Court
- Decision summary
- The English Commercial Court granted BEC Limited an extension of time to challenge the LCIA award.