Phoenix Finance Ltd. v Federation Internationale De L'Automobile & Ors [2002] EWHC 1028 (Ch) (22 May 2002)

Phoenix Finance Ltd. v Federation Internationale De L'Automobile & Ors [2002] EWHC 1028 (Ch) (22 May 2002)

Phoenix Finance Limited failed to establish a serious issue to be tried regarding entitlement to participate in F1 2002, as Prost Grand Prix SA's rights under Concorde terminated upon insolvency and failure to participate in the Australian Grand Prix. Consequently, Phoenix's application for interim relief is dismissed. The arbitration clause in Concorde binds Phoenix as assignee, and proceedings are stayed under s.9 Arbitration Act 1996.

Citation
[2002] EWHC 1028 (Ch)
Parties
Claimant: Phoenix Finance Limited; 1st Defendant: Federation Internationale de l'Automobile; 2nd Defendant: Formula One Management Limited; 3rd Defendant: Formula One Administration Limited
Jurisdiction
England and Wales
Judgment Date
22 May 2002
Procedural Posture
Commercial Injunction Application / Interim Relief and Stay Application
Outcome
Application for interim relief dismissed; proceedings stayed under s.9 Arbitration Act 1996.
Legal Topics
Assignment of Contractual Rights, Interim Injunctions, Arbitration Stay, Eligibility to Compete in Sporting Events
Contract Law Sports Law Arbitration Assignment of Contractual Rights Interim Injunctions Arbitration Stay Eligibility to Compete in Sporting Events

Case Brief

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Parties

Phoenix Finance Limited

Claimant

Federation Internationale de l'Automobile

1st Defendant

Formula One Management Limited

2nd Defendant

Formula One Administration Limited

3rd Defendant

Procedural Posture

Commercial Injunction Application / Interim Relief and Stay Application

Legal Issues

  1. 1 Whether Phoenix Finance Limited is entitled to participate in the 2002 Formula One World Championship by virtue of assignment of rights from Prost Grand Prix SA
  2. 2 Whether Phoenix is entitled to interim injunctive relief to compel FIA and FOM to allow participation
  3. 3 Whether the proceedings should be stayed pursuant to s.9 Arbitration Act 1996 due to the arbitration clause in Concorde Agreement

Ratio Decidendi

Phoenix Finance Limited failed to establish a serious issue to be tried regarding entitlement to participate in F1 2002, as Prost Grand Prix SA's rights under Concorde terminated upon insolvency and failure to participate in the Australian Grand Prix. Consequently, Phoenix's application for interim relief is dismissed. The arbitration clause in Concorde binds Phoenix as assignee, and proceedings are stayed under s.9 Arbitration Act 1996.

Court Disposition

Application for interim relief dismissed; proceedings stayed under s.9 Arbitration Act 1996.

Orders

  • Phoenix's application for interim injunctions dismissed.
  • Proceedings stayed pursuant to s.9 Arbitration Act 1996.