AIC Ltd v The Federal Airports Authority of Nigeria [2020] EWHC 3873 (TCC) (11 December 2020)

AIC Ltd v The Federal Airports Authority of Nigeria [2020] EWHC 3873 (TCC) (11 December 2020)

The guarantee became callable upon the English Court of Appeal's order permitting enforcement of the award, as per the guarantee's operative terms. There was no unjust enrichment as AIC received payment in satisfaction of a judgment debt. It would be unjust and contrary to the purpose of a freezing injunction to grant relief preventing satisfaction of the Court of Appeal's judgment.

Citation
[2020] EWHC 3873 (TCC)
Parties
Respondent/claimant: AIC Limited; Applicant/defendant: The Federal Airports Authority of Nigeria
Jurisdiction
England and Wales
Judgment Date
11 December 2020
Procedural Posture
Application for Without Notice Freezing Injunction / High Court Judgment on Application
Outcome
Application dismissed
Legal Topics
Freezing Injunction, Enforcement of Arbitral Awards, Guarantee Interpretation, Unjust Enrichment, Restitution
Civil Procedure Arbitration Banking Law Freezing Injunction Enforcement of Arbitral Awards Guarantee Interpretation Unjust Enrichment Restitution

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Parties

AIC Limited

Respondent/claimant

The Federal Airports Authority of Nigeria

Applicant/defendant

Procedural Posture

Application for Without Notice Freezing Injunction / High Court Judgment on Application

Legal Issues

  1. 1 Whether the guarantee provided by FAAN was callable under its terms upon the Court of Appeal's order
  2. 2 Whether AIC was unjustly enriched by payment under the guarantee
  3. 3 Whether a freezing injunction should be granted to restrain dissipation of funds paid under the guarantee

Ratio Decidendi

The guarantee became callable upon the English Court of Appeal's order permitting enforcement of the award, as per the guarantee's operative terms. There was no unjust enrichment as AIC received payment in satisfaction of a judgment debt. It would be unjust and contrary to the purpose of a freezing injunction to grant relief preventing satisfaction of the Court of Appeal's judgment.

Court Disposition

Application dismissed

Orders

  • Application for without notice freezing injunction refused
  • No freezing order granted