Helpful Insights On Arbitration Jurisdiction From UK Court
Law360 (August 9, 2019, 12:28 PM EDT) -- The Commercial Court recently issued a judgment on Minister of Finance (Incorporated), 1Malaysia Development Berhad v. International Petroleum Investment Company, Aabar Investments PJS, examining the court's supervisory jurisdiction under Sections 67 and 68 of the Arbitration Act of 1996 and whether it takes precedence over further arbitration proceedings agreed by the parties.
The claimants were entities incorporated in Malaysia and the defendants were entities incorporated in Abu Dhabi. The parties were involved in an arbitration seated in London, which had been commenced by the defendants under a binding term sheet. The arbitration was settled pursuant to settlement deeds, which provided for...
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