Re Fenox (UK) Ltd


Reference:
[2014] EWHC 4322 (Ch)

Date:
18th December 2014

Court:

Comment:

Company-unfair prejudice-arbitration-procedure The Court declined to stay a petition under CA 2006, s.994 in favour of an arbitration under Russian law. Applying the principles derived from Reichhold Norway ASA v Goldman Sachs International [2000] 1 WLR 173, it was not appropriate to grant a stay where the scope and content of the arbitration had not been defined and the relative timescales involved could not be assessed. The proceedings were between corporate shareholders of an English company as to its future under English law and those behind those companies can hardly object to remedies available under English law being invoked, even when the proceedings form part of a wider dispute. This case is an interesting examination of the Court’s jurisdiction to stay proceedings in favour of arbitration where s.9 of the Arbitration Act 1996 does not apply. Mark Hubbard represented the applicant and the defendant shareholder.

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