Czech Republic v Diag Human SE and Anor 2023 EWHC 1691 Comm - 07 July 2023
Country
Year
2023
Summary
This action concerns an Arbitration Award dated 18 May 2022 ("the 2022 BIT Award"), which culminates with an award in the Defendants' favour of CZK 4,089,716,666.00, plus very substantial interest. The Claimant challenges the 2022 BIT Award under ss. 67 and 68 of the Arbitration Act 1996 ("the Act"). The merits of the Claimants' challenges will be decided conclusively at a later date. The Defendants have applied for the s. 67 and s. 68 challenges to be summarily dismissed under §O8.6 of the Commercial Court Guide. The hearing to determine those merits issues will commence in January 2024 and has been listed for seven days.
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Conclusion on security for 2022 BIT Award
The application under s. 70(7) of the Act for security for the 2022 BIT Award also fails.