Nomihold Securites Inc v Mobile Telesystems Finance SA

Nomihold Securites Inc v Mobile Telesystems Finance SA

The court found that there is legitimate interest in enforcement, no valid public policy objection, and no cogent evidence of fraud or perjury meeting the Ladd v Marshall test. The Defendant's application to set aside enforcement was dismissed and the award enforced as a judgment.

Parties
Claimant/applicant: Nomihold Securities Inc; Defendant/respondent: Mobile Telesystems Finance SA
Jurisdiction
England and Wales
Judgment Date
01 August 2011
Procedural Posture
Commercial Arbitration Enforcement / Application to Set Aside Enforcement Order
Outcome
Defendant's application dismissed; award enforced as judgment.
Legal Topics
Enforcement of Arbitral Awards, Public Policy, Fraud and Perjury, Money Laundering, Freezing Orders, Specific Performance, Jurisdiction
Arbitration Commercial Law Contract Law Enforcement of Arbitral Awards Public Policy Fraud and Perjury Money Laundering Freezing Orders +2 more

Case Brief

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Parties

Nomihold Securities Inc

Claimant/applicant

Mobile Telesystems Finance SA

Defendant/respondent

Procedural Posture

Commercial Arbitration Enforcement / Application to Set Aside Enforcement Order

Legal Issues

  1. 1 Whether the arbitral award should be enforced as a judgment in England under s66 Arbitration Act 1996
  2. 2 Whether enforcement would be contrary to English public policy due to alleged money laundering
  3. 3 Whether the award was obtained by fraud/perjury

Ratio Decidendi

The court found that there is legitimate interest in enforcement, no valid public policy objection, and no cogent evidence of fraud or perjury meeting the Ladd v Marshall test. The Defendant's application to set aside enforcement was dismissed and the award enforced as a judgment.

Court Disposition

Defendant's application dismissed; award enforced as judgment.

Orders

  • Arbitral award enforced as judgment under s66 Arbitration Act 1996
  • Worldwide freezing order to continue