National Iranian Oil Company v Crescent Petroleum Company International Ltd and another

Arbitration – Award. The Commercial Court ruled on preliminary issues concerning the claimant's applications under ss 67 and 68 of the Arbitration Act 1996 to appeal/set aside an award. It held that: (i) English law governed the question of separability, such that the arbitrators had had jurisdiction to decide the issue of validity; (ii) the arbitrators had been right to have dismissed the claimant's challenge to their jurisdiction with regard to their conclusion that the assignment of the relevant contract from the first defendant to the second defendant had been valid, and that the second defendant had been a party to the arbitration; and (iii) there was no prospect of success for the claimant's application under s 68 of the Act by reference to s 68(2)(g), and it would be struck out as unarguable.

Category: