Erdenet Mining Corporation LLC v ICBC Standard Bank plc and others; Erdenet Mining Corporation LLC v ICBC Standard Bank PLC and others

Arbitration – Award. The Commercial Court dismissed applications made by the claimant company, EMC, regarding two arbitral awards made against it. The court held that the grounds put forward by EMC for challenging the jurisdiction of the arbitrators in both references were flimsy and lacking in substance, and that there was a serious risk of dissipation of assets by EMC that prejudiced the ability of the first defendant to enforce the adjudications. EMC was ordered to pay into court or otherwise secure the amounts due under the awards.

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