Arbitration news round-up to 16 September 2015 | Practical Law

Arbitration news round-up to 16 September 2015 | Practical Law

Developments that may be of interest to arbitration practitioners for the week to 16 September 2015.

Arbitration news round-up to 16 September 2015

Practical Law UK Legal Update 5-618-7918 (Approx. 3 pages)

Arbitration news round-up to 16 September 2015

Published on 16 Sep 2015England, International, Wales
Developments that may be of interest to arbitration practitioners for the week to 16 September 2015.
We report in brief below on other developments that may be of interest to arbitration practitioners:
  • In Castleton Commodities Shipping Company PTE Ltd v Silver Rock Investments [2015] EWHC 2584 (Comm), the English Commercial Court ordered that the judgment, which concerned issues arising out of the enforcement of two arbitral awards, be made public pursuant to CPR 62.10. In this case, the underlying arbitrations were exhausted and the awards had been made and enforced as judgments.
  • In Baker v British Boxing Board of Control [2015] EWHC 2469 (Ch), the English High Court (Chancery Division) struck out a claim by a boxing promoter, challenging the lawfulness of licensing proceedings before Appeal Stewards of the Boxing Board. The court found that those proceedings were an arbitration within the Arbitration Act 1996 and the Appeal Stewards' decision was an award, which could only be challenged under the limited challenge provisions of the 1996 Act. In making its decision, the court applied the England and Wales Cricket Board Ltd v Danesh Kaneria [2013] EWHC 1074 (Comm) case (see Legal update, Sports disciplinary proceedings amount to arbitration proceedings).
  • In Burgess v Citigroup Inc., No. 14-3014-CV, (2d Cir. Sept. 14, 2015), the US Court of Appeals for the Second Circuit affirmed a permanent injunction that barred former Citigroup employees from pursuing a Financial Industry Regulatory Authority (FINRA) arbitration they had commenced. The court of appeals ruled that the lower court did not abuse its discretion in determining that the former employees failed to exclude themselves from a prior securities class action settlement. The claimants alleged they were harmed by their receipt of overvalued Citigroup common stock as equity compensation, which was overvalued as a result of claimed misrepresentations concerning Citigroup's exposure to toxic assets.
  • New International Chamber of Commerce (ICC) Dispute Board Rules will enter into force on 1 October 2015. The new Dispute Board Rules increase the emphasis on dispute avoidance.