Arbitral Digest

Matter

DAKIN INTERNATIONAL LIMITED v FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC and FT GROUP INVESTMENTS PRIVATE LIMITED (Paris Court of Appeal RG 12/13956)

  1. 14 April 2011Arbitration

    14 April 2011Arbitration

    ICC arbitral award rendered in London on 14 April 2011

    International Chamber of Commerce

    Decision summary
    The sole arbitrator recognised jurisdiction over Mr [P], ordered the 20% interest in ACE acquired by FTME and FTGIPL to be transferred to DAKIN and Mr [P] after payment of USD 5,000,000, rejected damages claims by [T] and Mr [P], and ruled on arbitration costs.

    Supporting details

    4 participants
    DAKIN INTERNATIONAL LIMITED
    FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC
    FT GROUP INVESTMENTS PRIVATE LIMITED
    International Chamber of Commerce
    Arbitrator
    Mr [Z]

    2 years, 9 months and 7 days later · 1013 days

  2. 21 January 2014France

    21 January 2014France

    Decision of the Paris Court of Appeal in the case RG 12/13956 dated 21 January 2014

    Paris Court of Appeal, Pôle 1 - Chambre 1

    Case no.
    12/13956
    Decision summary
    The court rejected the request to stay proceedings and confirmed the Paris exequatur order of 18 January 2012 for the ICC award. It held that Mr [P] was personally bound by the share purchase agreement and its arbitration clause, and ordered him to pay costs and EUR 60,000 to FTME and FTGIPL under article 700 of the French Code of Civil Procedure.

    Supporting details

    1 authority · 11 participants
    Monsieur [R] [X] [V] [P]
    Representative
    François TEYTAUD (For: Monsieur [R] [X] [V] [P] · DAKIN INTERNATIONAL LIMITED)
    Representative
    Christophe NICOLAS (For: Monsieur [R] [X] [V] [P])
    DAKIN INTERNATIONAL LIMITED
    Representative
    François TEYTAUD (For: Monsieur [R] [X] [V] [P] · DAKIN INTERNATIONAL LIMITED)
    FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC
    Representative
    Marc ROBERT (For: FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC · FT GROUP INVESTMENTS PRIVATE LIMITED)
    FT GROUP INVESTMENTS PRIVATE LIMITED
    Representative
    Marc ROBERT (For: FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC · FT GROUP INVESTMENTS PRIVATE LIMITED)
    Paris Court of Appeal, Pôle 1 - Chambre 1
    Judge
    GUIHAL
    Judge
    DALLERY
    Other
    Court Reporter
    PATE

    Authorities cited

    1
    • French Code of Civil Procedure
      statute

    1 year, 8 months and 16 days later · 624 days

  3. 7 October 2015France

    7 October 2015France

    Decision of the French Court of Cassation, First Civil Chamber dated 7 October 2015

    French Court of Cassation, First Civil Chamber

    Decision summary
    The court dismissed Mr X's appeal and upheld the Paris Court of Appeal's confirmation of the exequatur order for the 14 April 2011 ICC award. It held that Mr X, as guarantor of the share purchase agreement, was personally a party to that agreement and bound by its arbitration clause.

    Supporting details

    1 authority · 3 participants
    M. X...
    FT GROUP INVESTMENTS PRIVATE LIMITED
    FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC
    French Court of Cassation, First Civil Chamber

    Authorities cited

    1
    • French Code of Civil Procedure
      statute

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DAKIN INTERNATIONAL LIMITED v FINANCIAL TECHNOLOGIES MIDDLE EAST DMCC and FT GROUP INVESTMENTS PRIVATE LIMITED (Paris Court of Appeal RG 12/13956) · Matter