U&M Mining Zambia Ltd v Konkola Copper Mines Plc [2014] EWHC 3250 (Comm) (10 October 2014)

U&M Mining Zambia Ltd v Konkola Copper Mines Plc [2014] EWHC 3250 (Comm) (10 October 2014)

The court found solid evidence from KCM's conduct in arbitration and dealings with U&M to infer a real risk of dissipation of assets, justifying continuation of the WFO. The seat of arbitration in London and personal jurisdiction supported the English court's power to grant relief. Failures in full and frank...

Source-derived case information.

Citation
[2014] EWHC 3250 (Comm)
Parties
Claimant: U&M Mining Zambia Ltd; Defendant: Konkola Copper Mines PLC
Jurisdiction
England and Wales
Judgment Date
10 October 2014
Procedural Posture
Application to Continue Worldwide Freezing Order / Inter Partes Hearing Following Ex Parte Grant
Outcome
Worldwide freezing order continued
Legal Topics
Freezing Orders, Risk of Dissipation, Full and Frank Disclosure, Enforcement of Arbitral Awards, Jurisdiction
Commercial Law Arbitration Injunctions Freezing Orders Risk of Dissipation Full and Frank Disclosure Enforcement of Arbitral Awards Jurisdiction

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Summary, issues, holding and outcome

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Parties

U&M Mining Zambia Ltd

Claimant

Konkola Copper Mines PLC

Defendant

Procedural Posture

Application to Continue Worldwide Freezing Order / Inter Partes Hearing Following Ex Parte Grant

Legal Issues

  1. 1 Whether there is a real risk of dissipation of assets by the defendant
  2. 2 Whether it is just and convenient to continue the worldwide freezing order
  3. 3 Whether the claimant failed in its duty of full and frank disclosure

Ratio Decidendi

The court found solid evidence from KCM's conduct in arbitration and dealings with U&M to infer a real risk of dissipation of assets, justifying continuation of the WFO. The seat of arbitration in London and personal jurisdiction supported the English court's power to grant relief. Failures in full and frank disclosure were identified but did not warrant discharge of the WFO given the interests of justice.

Court Disposition

Worldwide freezing order continued

Orders

  • Continuation of worldwide freezing order against Konkola Copper Mines PLC
  • Claimant to provide undertakings as required by the order