Arbitral Digest

Matter

Hermes One Limited v Everbread Holdings Ltd et al (BVI HC (COM) 2014/001)

A dispute among Everbread shareholders, with BVI court proceedings concerning an arbitration option in their agreements and a request to stay litigation.

  • Jurisdiction and arbitration agreements

Procedural record

  1. 6 March 2014British Virgin Islands

    6 March 2014British Virgin Islands

    Judgment of the Eastern Caribbean Supreme Court, High Court of Justice, Commercial Division in the case BVI HC (COM) 2014/001 dated 6 March 2014

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

    Case no.
    BVI HC (COM) 2014/001
    Decision summary
    The Court dismissed the Applicants' application for a stay under section 6(2) of the Arbitration Act. It held that clause 19.5 of the shareholders agreement gave a party an option to submit a dispute to arbitration, rather than imposing a binding obligation to arbitrate, and therefore Hermes had not agreed to refer its claim to arbitration. The Court also rejected the estoppel objection to the Applicants' position.

    Participants

    HERMES ONE LTD.
    Representative
    Mr Robert Nader (For: HERMES ONE LTD. · EVERBREAD HOLDINGS LTD.)
    EVERBREAD HOLDINGS LTD.
    Representative
    Mr Robert Nader (For: HERMES ONE LTD. · EVERBREAD HOLDINGS LTD.)
    ANZEN LTD.
    Representative
    Mr James Dixon (For: ANZEN LTD. · LUND3APS · TRAVELLAB GLOBAL AB)
    LUND3APS
    Representative
    Mr James Dixon (For: ANZEN LTD. · LUND3APS · TRAVELLAB GLOBAL AB)
    TRAVELLAB GLOBAL AB
    Representative
    Mr James Dixon (For: ANZEN LTD. · LUND3APS · TRAVELLAB GLOBAL AB)
    Eastern Caribbean Supreme Court, High Court of Justice, Commercial Division, British Virgin Islands
    Judge
    Bannister J [Ag]

    Authorities cited

    6
    • Arbitration Act (Cap 6)
      statute
    • Insolvency Act, 2003
      statute
    • Jurisdiction and Arbitration Agreements and their Enforcement, 2nd ed. (Thomson, 2010)
      academic
    • Krys and ors v New World Value Fund Limited and ors (BVIHCV (COM) 2013/0026 (19 April 2013))
      case-law
    • OJSC Yuganreft v Abramovitch and ors ([2008] EWHC (Comm) 2613)
      case-law
    • Edwards v Aetna Life and Casualty (690 F.2d 595 (1982))
      case-law

Matter record

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Hermes One Limited v Everbread Holdings Ltd et al (BVI HC (COM) 2014/001) · Matter