UniCredit Bank AG (claimant/appellant) v RusChemAlliance LLC (defendant/respondent)
Thursday 25 January 2024
Appeal against the Order of Sir Nigel Teare dated 22 September 2023 that declared that the Court did not have jurisdiction to hear the claim.
Clause 12 provided as follows: “In case of dispute arising between the parties about the validity, interpretation or performance of the bond, the parties shall cooperate with diligence and in good faith, to attempt to find an amicable solution. All disputes arising out of or in connection with the bond which cannot be resolved amicably, shall be finally settled under the rules of arbitration of the International Chamber of Commerce, the ICC, by one or more arbitrators appointed, in accordance with the said ICC’s rules. The place of arbitration shall be Paris and the language to be used in the arbitral proceedings shall be English.”
The judge found stated that “the content of French law is clear and is not in dispute… The present case is unusual in that the arbitration sought to be protected by the anti suit injunction is not in England but is in France. Indeed, counsel for the claimant accepted that the application in this case was unprecedented.”
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