Wealcan Enterprises Inc v Banque Algerienne Du Commerce Exterieur Sa

Wealcan Enterprises Inc v Banque Algerienne Du Commerce Exterieur Sa

The guarantees and letter of undertaking, by their natural and commercial meaning, cover arbitrators’ fees as part of the recoverable legal costs or costs of defending the claim; there is no ambiguity requiring strict construction against the claimant.

Parties
Claimant/respondent: Wealcan Enterprises Inc; Defendant/appellant: Banque Algerienne du Commerce Exterieur SA
Jurisdiction
England and Wales
Judgment Date
14 December 2012
Procedural Posture
Commercial Arbitration Enforcement / Judgment After Trial
Outcome
Claim allowed
Legal Topics
Guarantees, Security for Costs, Interpretation of Legal Costs, Arbitrators' Fees
Arbitration Commercial Law Guarantees Security for Costs Interpretation of Legal Costs Arbitrators' Fees

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Parties

Wealcan Enterprises Inc

Claimant/respondent

Banque Algerienne du Commerce Exterieur SA

Defendant/appellant

Procedural Posture

Commercial Arbitration Enforcement / Judgment After Trial

Legal Issues

  1. 1 Whether arbitrators’ fees are covered by guarantees and letter of undertaking as 'recoverable legal costs' or 'costs of defending the claim'

Ratio Decidendi

The guarantees and letter of undertaking, by their natural and commercial meaning, cover arbitrators’ fees as part of the recoverable legal costs or costs of defending the claim; there is no ambiguity requiring strict construction against the claimant.

Court Disposition

Claim allowed

Orders

  • Claims by Wealcan Enterprises Inc succeed against the defendants