Fidelity Management SA & Ors v Myriad International Holdings BV & Ors

Fidelity Management SA & Ors v Myriad International Holdings BV & Ors

The tribunal addressed the essential issue put to it—whether the derogation satisfied the Competition Condition Precedent—and provided clear reasoning. There was no failure to deal with an issue under section 68(2)(d); any criticism relates to reasoning, not omission of an issue.

Source-derived case information.

Parties
Claimant: Fidelity Management SA & Ors; Defendant: Myriad International Holdings BV & Or
Jurisdiction
England and Wales
Judgment Date
09 June 2005
Procedural Posture
Application Under Section 68 of the Arbitration Act 1996 / Judgment on Challenge to Arbitral Award
Outcome
Application dismissed
Legal Topics
Serious Irregularity, Failure to Deal With Issues, Contract Interpretation, Competition Law
Arbitration Commercial Law Serious Irregularity Failure to Deal With Issues Contract Interpretation Competition Law

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Parties

Fidelity Management SA & Ors

Claimant

Myriad International Holdings BV & Or

Defendant

Procedural Posture

Application Under Section 68 of the Arbitration Act 1996 / Judgment on Challenge to Arbitral Award

Legal Issues

  1. 1 Whether the arbitral tribunal failed to deal with an essential issue under section 68(2)(d) of the Arbitration Act 1996
  2. 2 Whether the derogation under Greek Competition Law satisfied the Competition Condition Precedent in clause 2.1.5 of the Share Subscription Agreement

Ratio Decidendi

The tribunal addressed the essential issue put to it—whether the derogation satisfied the Competition Condition Precedent—and provided clear reasoning. There was no failure to deal with an issue under section 68(2)(d); any criticism relates to reasoning, not omission of an issue.

Court Disposition

Application dismissed