Shanghai Shipyard Co Ltd –v- Reignwood International Investment (Group) Co Ltd
Wednesday 14th July 2021
Claimant’s appeal of the order made by Mr J Robin Knowles QC dated 3 April 2020. Permission to appeal granted by Mr J Knowles QC.
Claimant was seeking sums (US$170m said to be due under a guarantee) from Defendant. Judge held, in hearing of preliminary issue as to whether the guarantee liability arose by demand, that Def is entitled to refuse payment under Clause 4 pending and subject to the outcome of the arbitration between Claimant and P20 Defendant in respect of the dispute as to P20 Def’s liability to pay and C’s entitlement to claim the final instalment, regardless of when such arbitration is commenced. C’s claim is therefore stayed pending final decision of that arbitration. C to pay D’s costs of the preliminary issue in this claim.