BPY v MXV 2023 EWHC 82 Comm (Concerning LCIA Merits Award dated 7 June 2021 and related Costs Award dated 15 September 2021) - 20 January 2023
Country
Year
2023
Summary
BPY is a company registered in and incorporated under the laws of Belize. Its ultimate beneficial owner is Mr A, a Ukrainian national. The Defendant ('MXV') was, at the time the arbitration was initiated, also a company registered in and incorporated under the laws of Belize. It is now registered in and incorporated under the laws of Nevis. Its ultimate beneficial owner is Ms B, a Ukrainian national. Application is made under s. 68 of the Arbitration Act 1996 ('AA') by the Claimant ('BPY') challenging an award dated 7 June 2021 ('the Merits Award') and a related costs award dated 15 September 2021 ('the Costs Award') made in a London-seated LCIA arbitration before a sole arbitrator. BYP contends that there were serious irregularities within the meaning of s. 68 AA in the manner in which the arbitrator reached her conclusions in the Merits Award, as well as to the basis of her Costs Award; and that it has suffered a substantial injustice in consequence. It seeks an order setting aside the Merits Award and the Costs Award.