Trier Holding BV - Netherlands Insurance Holdings - NIH Capital LLC v Conservatrix NV - Hoge Raad Zaaknummer 22-02310 - Dutch - 26 May 2023
Country
Year
2023
Summary
Procesrecht. Vordering tot vernietiging arbitraal vonnis wegens ontbreken geldige overeenkomst tot arbitrage (art. 1065 lid 1 onder a Rv); derdenbeding.
"IX Rulings
Therefore, the arbitral tribunal, with reference to article 36(1) of the NAI Rules 2015, in accordance with the rules of law, decides as follows:a) Orders [Trier Holding] to replenish the shortfall in the solvency capital ratio of [Conservatrix] to 135% with the core equity contributions, within 60 days after the award, and thereafter to maintain a minimum solvency capital ratio of 135% in accordance with the Recapitalization Commitment;
b) Orders [ [eiser 1] ], [NIH] and [NIHC], jointly and severally, to procure that [Trier Holding] will replenish the shortfall in the solvency capital ratio of [Conservatrix] to a solvency capital ratio of 135% with core equity contributions, within 60 days after the award and thereafter to procure that [Trier Holding] maintains a minimum solvency capital ratio of [Conservatrix] of 135% in accordance with the Recapitalization Commitment;
c) Orders [ [eiser 1] ], [NIH] and [NIHC], to pay [Conservatrix] an immediately payable penalty (in Dutch: dwangsom) of one hundred fifty million euros (€ 150M) (in total) if the obligations under sub b) of these rulings are not timely complied with in whole or in part;
(...)."