On 6 June 2018, the Commercial Court handed down its judgment in Nori Holdings Ltd v Bank Otkritie Financial Corp [2018] EWHC 1343 (Comm), and provided helpful guidance on three important issues:
1. The Court clarified that West Tankers1remains good law in that parties will not be granted anti-suit injunctions by the English Court to restrain proceedings commenced in other Member States in breach of an agreement to arbitrate, notwithstanding the contrary opinion expressed by Attorney General Wathelet in Gazprom (C-536/13).
2. The Court confirmed that parties are entitled to seek anti-suit relief from the Court, rather than being obliged to apply to the arbitral tribunal.
3. The Court held that the arbitrability of claims arising in an insolvency situation (which generally do not fall within the scope of arbitration, largely because tribunals cannot make orders that bind non-consenting third parties (such as other creditors)) should be considered by reference to the nature of the relief sought in the particular case in question, rather than by the fact that the claim arises in an insolvency situation.
