Jul 2013
BRITISH VIRGIN ISLANDS
HIGH COURT (COMMERCIAL DIVISION)
APPLICATION TO WIND UP COMPANY ON BASIS OF ARBITRAL AWARD – COMPANY CHALLENGING JURISDICTION OF ARBITRAL TRIBUNAL TO DETERMINE THE SUBJECT MATTER OF THE AWARD – WHETHER SUFFICIENT FOR COMPANY TO RAISE BONA FIDE DISPUTE AS TO JURISDICTION ON SUBSTANTIAL GROUNDS OR WHETHER NECESSARY FOR COMPANY TO ESTABLISH ON BALANCE OF PROBABILITIES THAT SECTION 36(2)(D) OF ARBITRATION ACT 1976 (‘THE ACT’) APPLIED – SECTION 34(2) OF THE ACT CONSIDERED
The Judgment related to an Application by GL Asia for the appointment of liquidators to a BVI Registered Company, Pinfold. The Application was based on Pinfold’s alleged insolvency which was to be inferred from its failure to pay part of an arbitration award made in India. The Company challenged the jurisdiction of the arbitral tribunal to determine the subject matter of the award.