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Arbitration – Award. A number of disputes between the owners and the charterers of a vessel were referred to arbitration. An award was made in favour of the owners, with interest. The charterers appealed, pursuant to s 69 of the Arbitration Act 1996, against the award of interest. The Commercial Court gave guidance as to applicability of the Late Payment of Commercial Debts (Interest) Act 1998 to charterparties providing for English law and London arbitration. The court, allowing the appeal, held that a London arbitration clause in a charterparty was irrelevant to an inquiry under s 12(1) of the 1998 Act.
Arbitration – Award. A number of disputes between the owners and the charterers of a vessel were referred to arbitration. An award was made in favour of the owners, with interest. The charterers appealed, pursuant to s 69 of the Arbitration Act 1996, against the award of interest. The Commercial Court gave guidance as to applicability of the Late Payment of Commercial Debts (Interest) Act 1998 to charterparties providing for English law and London arbitration. The court, allowing the appeal, held that a London arbitration clause in a charterparty was irrelevant to an inquiry under s 12(1) of the 1998 Act.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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