Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

TTMI Ltd of England v ASM Shipping Ltd of India (No 2)

TTMI Ltd of England v ASM Shipping Ltd of India (No 2) 23 November 2005 Clarke J Commercial Court [2005] EWHC 2666 [2005] ArbLR 64 Arbitration award--Enforcement--Freezing order--Arbitration award respondent's only substantial asset in jurisdiction--Payment into escrow by claimant of amount of interim award pending final outcome of arbitration--Respondent in bad financial situation--Respondent's legal costs funded by third party-- Whether payment of legal costs dissipation of assets (no)--Whether appropriate to grant relief (no)--Arbitration Act 1996, s 70(6) Arbitration award--Enforcement--Ex parte order for permission to enforce award--Order failing to set out right to apply to set aside--Order failing to include deductable amounts--Application to set aside order--Whether order defective (yes)--Whether defect causing prejudice (no)--Whether to vary order as to amounts (yes)--Arbitration Act 1996, s 103 Freezing order not just where it would restrain payment of legal costs TTMI chartered a vessel owned by ASM. Following arrest of the vessel, disputes arose relative to losses caused by its late availability. TTMI commenced arbitration. ASM counterclaimed in respect of unpaid freight and demurrage. The arbitrators issued a partial award in favour of ASM's freight claims. An amount was paid into an escrow account pending the outcome of the balance of the arbitration. The agreement to pay into escrow provided that `no payment out of http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Arbitration Law Reports and Review Oxford University Press

TTMI Ltd of England v ASM Shipping Ltd of India (No 2)

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

TTMI Ltd of England v ASM Shipping Ltd of India (No 2)

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

Abstract

23 November 2005 Clarke J Commercial Court [2005] EWHC 2666 [2005] ArbLR 64 Arbitration award--Enforcement--Freezing order--Arbitration award respondent's only substantial asset in jurisdiction--Payment into escrow by claimant of amount of interim award pending final outcome of arbitration--Respondent in bad financial situation--Respondent's legal costs funded by third party-- Whether payment of legal costs dissipation of assets (no)--Whether appropriate to grant relief (no)--Arbitration Act 1996, s 70(6) Arbitration award--Enforcement--Ex parte order for permission to enforce award--Order failing to set out right to apply to set aside--Order failing to include deductable amounts--Application to set aside order--Whether order defective (yes)--Whether defect causing prejudice (no)--Whether to vary order as to amounts (yes)--Arbitration Act 1996, s 103 Freezing order not just where it would restrain payment of legal costs TTMI chartered a vessel owned by ASM. Following arrest of the vessel, disputes arose relative to losses caused by its late availability. TTMI commenced arbitration. ASM counterclaimed in respect of unpaid freight and demurrage. The arbitrators issued a partial award in favour of ASM's freight claims. An amount was paid into an escrow account pending the outcome of the balance of the arbitration. The agreement to pay into escrow provided that `no payment out of

Loading next page...
 
/lp/oxford-university-press/ttmi-ltd-of-england-v-asm-shipping-ltd-of-india-no-2-cS0Yb6QDHt
Publisher
Oxford University Press
Copyright
© Oxford University Press, 2009
Subject
Judgments
ISSN
2044-8651
eISSN
2044-9887
DOI
10.1093/alrr/2005.1.941
Publisher site
See Article on Publisher Site

Abstract

23 November 2005 Clarke J Commercial Court [2005] EWHC 2666 [2005] ArbLR 64 Arbitration award--Enforcement--Freezing order--Arbitration award respondent's only substantial asset in jurisdiction--Payment into escrow by claimant of amount of interim award pending final outcome of arbitration--Respondent in bad financial situation--Respondent's legal costs funded by third party-- Whether payment of legal costs dissipation of assets (no)--Whether appropriate to grant relief (no)--Arbitration Act 1996, s 70(6) Arbitration award--Enforcement--Ex parte order for permission to enforce award--Order failing to set out right to apply to set aside--Order failing to include deductable amounts--Application to set aside order--Whether order defective (yes)--Whether defect causing prejudice (no)--Whether to vary order as to amounts (yes)--Arbitration Act 1996, s 103 Freezing order not just where it would restrain payment of legal costs TTMI chartered a vessel owned by ASM. Following arrest of the vessel, disputes arose relative to losses caused by its late availability. TTMI commenced arbitration. ASM counterclaimed in respect of unpaid freight and demurrage. The arbitrators issued a partial award in favour of ASM's freight claims. An amount was paid into an escrow account pending the outcome of the balance of the arbitration. The agreement to pay into escrow provided that `no payment out of

Journal

Arbitration Law Reports and ReviewOxford University Press

Published: Jan 1, 2005

There are no references for this article.