Erdenet Mining Corporation LLC v ICBC Standard Bank Plc and Ors - 2017 EWHC 1090 Comm - 12 May 2017
"In two Arbitration Claim Forms, the claimant ("EMC") challenges two arbitration awards under section 67 and 68 of the 1996 Arbitration Act ("the Act"). The two awards were made by two separately constituted LCIA Arbitral Tribunals which heard two claims which arose out of two independent but connected trade finance facilities provided by the defendants ("Standard"): (1) Claim CL-2016-000629 is a claim arising out of an LCIA arbitration between the first three named defendants which claimed against EMC and Just Group LLC ("Just") as respondents. The arbitration agreement in dispute was contained in a written Surety and Undertaking Agreement dated 9th July 2009 ("the SUA") purportedly signed by Mr Ganzorig, the General Director of EMC. Under the SUA, EMC guaranteed and agreed to indemnify the Funding Costs and Relevant Obligations of Just in an underlying trade finance facility of the same date ("the 2009 Facility") as subsequently amended. Mr Thomas H. Webster was appointed as presiding arbitrator of the tribunal. Mr Christopher Lau SC and Mr Dominic Underhill were the co-arbitrators. ...."