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Fidelity Management SA and Ors v Myriad International Holdings BV and Ors

Fidelity Management SA and Ors v Myriad International Holdings BV and Ors 9 June 2005 Morison J Commercial Court [2005] EWHC 1193 [2005] ArbLR 25 Arbitration award--Challenge--Procedural irregularity--Issues--Condition precedent in contract requiring administrative approvals--Derogation obtained instead of approvals--Arbitrators deciding that derogation did not satisfy condition precedent--Arbitrators dealing first with issues of contractual interpretation under Dutch law--Whether arbitrators failed to address issues by not coming to conclusions on Dutch law or by failing consider the effect of derogation under Greek law (no)--Whether procedural irregularity (no)--Arbitration Act 1996, s 68 Criticisms of arbitrator's reasons not failure to deal with issues The parties concluded a series of contracts relating to pay-TV services in Greece. The arrangements aimed to enable one of the parties to acquire the other's customers allowing only one player on the market. The arrangements raised competition issues and it was anticipated that approval might be problematic. Accordingly, the parties agreed a condition precedent at cl 2.1.5 of the share subscription agreement. Clause 2.1.5 made the parties' obligations conditional on the receipt by Myriad and Newco of all approvals, licences and permissions as may be necessary from governmental and regulatory authorities. At the time, both parties contemplated that formal approval would be obtained. In the event, however, the parties sought and http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Arbitration Law Reports and Review Oxford University Press

Fidelity Management SA and Ors v Myriad International Holdings BV and Ors

Arbitration Law Reports and Review , Volume 2005 (1) – Jan 1, 2005

Fidelity Management SA and Ors v Myriad International Holdings BV and Ors

Arbitration Law Reports and Review , Volume 2005 (1) – Jan 1, 2005

Abstract

9 June 2005 Morison J Commercial Court [2005] EWHC 1193 [2005] ArbLR 25 Arbitration award--Challenge--Procedural irregularity--Issues--Condition precedent in contract requiring administrative approvals--Derogation obtained instead of approvals--Arbitrators deciding that derogation did not satisfy condition precedent--Arbitrators dealing first with issues of contractual interpretation under Dutch law--Whether arbitrators failed to address issues by not coming to conclusions on Dutch law or by failing consider the effect of derogation under Greek law (no)--Whether procedural irregularity (no)--Arbitration Act 1996, s 68 Criticisms of arbitrator's reasons not failure to deal with issues The parties concluded a series of contracts relating to pay-TV services in Greece. The arrangements aimed to enable one of the parties to acquire the other's customers allowing only one player on the market. The arrangements raised competition issues and it was anticipated that approval might be problematic. Accordingly, the parties agreed a condition precedent at cl 2.1.5 of the share subscription agreement. Clause 2.1.5 made the parties' obligations conditional on the receipt by Myriad and Newco of all approvals, licences and permissions as may be necessary from governmental and regulatory authorities. At the time, both parties contemplated that formal approval would be obtained. In the event, however, the parties sought and

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Publisher
Oxford University Press
Copyright
© Oxford University Press, 2009
Subject
Judgments
ISSN
2044-8651
eISSN
2044-9887
DOI
10.1093/alrr/2005.1.379
Publisher site
See Article on Publisher Site

Abstract

9 June 2005 Morison J Commercial Court [2005] EWHC 1193 [2005] ArbLR 25 Arbitration award--Challenge--Procedural irregularity--Issues--Condition precedent in contract requiring administrative approvals--Derogation obtained instead of approvals--Arbitrators deciding that derogation did not satisfy condition precedent--Arbitrators dealing first with issues of contractual interpretation under Dutch law--Whether arbitrators failed to address issues by not coming to conclusions on Dutch law or by failing consider the effect of derogation under Greek law (no)--Whether procedural irregularity (no)--Arbitration Act 1996, s 68 Criticisms of arbitrator's reasons not failure to deal with issues The parties concluded a series of contracts relating to pay-TV services in Greece. The arrangements aimed to enable one of the parties to acquire the other's customers allowing only one player on the market. The arrangements raised competition issues and it was anticipated that approval might be problematic. Accordingly, the parties agreed a condition precedent at cl 2.1.5 of the share subscription agreement. Clause 2.1.5 made the parties' obligations conditional on the receipt by Myriad and Newco of all approvals, licences and permissions as may be necessary from governmental and regulatory authorities. At the time, both parties contemplated that formal approval would be obtained. In the event, however, the parties sought and

Journal

Arbitration Law Reports and ReviewOxford University Press

Published: Jan 1, 2005

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