Arbitral Digest

Matter

Imanagement Services Limited v Cukurova Holdings A.S. et al (BVI Court of Appeal HCVAP 2007/025)

  1. 29 May 2006Arbitration

    29 May 2006Arbitration

    Order terminating the arbitral proceedings against Cukurova (BVI) Limited dated 29 May 2006

    Decision summary
    The tribunal terminated the proceedings against Cukurova (BVI) Limited after finding that it lacked competence because of a defect in the arbitration agreement between Cukurova Holdings A.S. and Imanagement Services Limited.

    Supporting details

    3 participants
    Imanagement Services Limited
    Cukurova Holdings A.S.
    Cukurova (BVI) Limited

    16 days later · 16 days

  2. 14 June 2006Arbitration

    14 June 2006Arbitration

    Arbitral award in favour of Imanagement Services Limited dated 14 June 2006

    Decision summary
    The tribunal awarded US$81 million in damages to Imanagement Services Limited against Cukurova Holdings A.S.

    Supporting details

    3 participants
    Imanagement Services Limited
    Cukurova Holdings A.S.
    Other
    Witness
    M. Galkin

    5 months later · 153 days

  3. 14 November 2006Arbitration

    14 November 2006Arbitration

    Decision dismissing Imanagement Services Limited's second arbitration claim dated 14 November 2006

    Decision summary
    A differently constituted tribunal dismissed Imanagement Services Limited's second arbitration claim, including on the ground that it had not established a binding agreement to arbitrate between the parties.

    Supporting details

    2 participants
    Imanagement Services Limited
    Cukurova Holdings A.S.

    4 months and 8 days later · 128 days

  4. 22 March 2007Russia

    22 March 2007Russia

    Decision of the Moscow City Arbitration Court dated 22 March 2007

    Moscow City Arbitration Court

    Decision summary
    The court ruled in favour of Cukurova Holdings A.S. on its application to set aside the US$81 million arbitral award, finding that no arbitration agreement supported submission of the dispute to the Moscow Region Chamber of Commerce and Industry arbitral court.

    7 days later · 7 days

  5. 29 March 2007Russia

    29 March 2007Russia

    Decision of the Moscow City Arbitration Court dated 29 March 2007

    Moscow City Arbitration Court

    Decision summary
    The court ruled in favour of Cukurova Holdings A.S. on its application to set aside the US$81 million arbitral award, finding that no arbitration agreement supported submission of the dispute to the Moscow Region Chamber of Commerce and Industry arbitral court.

    3 months and 18 days later · 110 days

  6. 17 July 2007British Virgin Islands

    17 July 2007British Virgin Islands

    Judgment of the British Virgin Islands High Court by Hariprashad-Charles J dated 17 July 2007

    British Virgin Islands High Court

    Decision summary
    The High Court dismissed Imanagement Services Limited's and Cukurova (BVI) Limited's applications to stay Cukurova Holdings A.S.'s tort claim on lis alibi pendens and forum non conveniens grounds, reserving costs.

    5 months and 11 days later · 164 days

  7. 28 December 2007Russia

    28 December 2007Russia

    Decision of the Cassation Court dated 28 December 2007

    Cassation Court

    Decision summary
    The Cassation Court allowed Imanagement Services Limited's appeal and dismissed Cukurova Holdings A.S.'s petition to annul the US$81 million arbitral award.

    9 months and 8 days later · 283 days

  8. 6 October 2008British Virgin Islands

    6 October 2008British Virgin Islands

    Decision of the British Virgin Islands Court of Appeal in case HCVAP 2007/025 dated 6 October 2008

    British Virgin Islands Court of Appeal

    Case no.
    HCVAP 2007/025
    Decision summary
    The Court of Appeal dismissed Imanagement Services Limited's appeal from the refusal to stay Cukurova Holdings A.S.'s tort claim against Imanagement and Cukurova (BVI) Limited. It held that the British Virgin Islands was the natural and appropriate forum and awarded prescribed costs to Cukurova Holdings A.S., subject to the determination of costs below.

    Supporting details

    8 authorities · 10 participants
    Imanagement Services Limited
    Representative
    Michael Fay (For: Imanagement Services Limited)
    Representative
    Claire-Louise Whiley (For: Imanagement Services Limited)
    Cukurova Holdings A.S.
    Representative
    John Higham QC (For: Cukurova Holdings A.S.)
    Representative
    Christopher Young (For: Cukurova Holdings A.S.)
    Cukurova (BVI) Limited
    British Virgin Islands Court of Appeal

    Authorities cited

    8
    • Abidin Daver ([1984] 1 AC 398)
      case-law
    • Spiliada Maritime Corporation v Cansulex Limited ([1987] 1 AC 460)
      case-law
    • IPOC International Growth Fund Limited v L V Finance Group Limited and others (BVI Civil Appeal Nos. 20 of 2003 and 1 of 2004)
      case-law
    • Banco Atlantico S.A. v The British Bank of the Middle East ([1990] 2 Lloyd's Rep. 504)
      case-law
    • Bitech Downstream Ltd v Rinex Capital Inc. and another (BVHC 2002/0233)
      case-law
    • Private International Law (Miscellaneous Provisions) Act (c.42) (U.K.)
      statute
    • Federal Law On Arbitral Tribunals in the Russian Federation
      statute
    • Federal Law On International Commercial Arbitration
      statute

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Imanagement Services Limited v Cukurova Holdings A.S. et al (BVI Court of Appeal HCVAP 2007/025) · Matter