BSG Resources Ltd v Vale SA and Ors (Filip De Ly, David A.R. Williams, Michael Hwang) 2019 EWHC 2456 Comm - 20 September 2019
BSG RESOURCES LIMITED
(1) VALE S.A.
(2) FILIP DE LY
(3) DAVID A.R. WILLIAMS
(4) MICHAEL HWANG
The matters in this judgment arise out of an arbitration award dated 4 April 2019 (the "Award") following an arbitration between Vale S.A. ("Vale") and BSG Resources Limited ("BSGR") which resulted in an order for BSGR to pay damages of US$1.247 billion. BSGR has challenged the Award under sections 24 and 68 of the Arbitration Act 1996 (the "Act") and such challenge (the "Challenge Application") is due to be heard over two days in November 2019.
This judgment deals with the following applications:
i) application by Vale under Section 70 of the Act for security for the amount payable under the Award;
ii) application by Vale for security for its costs in respect of the Challenge Application;
iii) application by BSGR to set aside the order of Bryan J dated 4 April 2019 granting permission to enforce the Award or to stay the enforcement thereof (the "Set Aside Application");
iv) application by BSGR to amend its claim form in respect of the Challenge Application (the "Amendment Application");
v) application by Vale to impose a condition of pursuing the Challenge Application that BSGR pay the outstanding costs order of Mr Justice Popplewell.