New Age Alzarooni 2 Ltd & Anor v Range Energy Natural Resources Inc

New Age Alzarooni 2 Ltd & Anor v Range Energy Natural Resources Inc

The application under Section 68 Arbitration Act 1996 fails because the tribunal acted within its powers, no serious irregularity occurred, and any alleged excess of power or ambiguity should have been raised during arbitration or via Section 57. The complaints amount to challenges to the tribunal's reasoning, not its powers, and are barred by Sections 70(2) and 73. No substantial injustice was caused.

Parties
Claimant: New Age Alzarooni 2 Limited; Claimant: Black Gold Kalakan Limited; Defendant: Range Energy Natural Resources Inc.
Jurisdiction
England and Wales
Judgment Date
19 December 2014
Procedural Posture
Arbitration Challenge / Judgment on Application Under Section 68 Arbitration Act 1996
Outcome
application dismissed
Legal Topics
Serious Irregularity, Minority Shareholder Relief, Specific Performance, Powers of Arbitral Tribunal, Confidentiality, Fiduciary Duties
Arbitration Company Law Serious Irregularity Minority Shareholder Relief Specific Performance Powers of Arbitral Tribunal Confidentiality Fiduciary Duties

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Parties

New Age Alzarooni 2 Limited

Claimant

Black Gold Kalakan Limited

Claimant

Range Energy Natural Resources Inc.

Defendant

Procedural Posture

Arbitration Challenge / Judgment on Application Under Section 68 Arbitration Act 1996

Legal Issues

  1. 1 Whether the arbitral tribunal exceeded its powers under Section 68(2)(b) Arbitration Act 1996
  2. 2 Whether there was serious irregularity causing substantial injustice under Section 68
  3. 3 Whether the tribunal failed to deal with all issues or adopted an unfair procedure

Ratio Decidendi

The application under Section 68 Arbitration Act 1996 fails because the tribunal acted within its powers, no serious irregularity occurred, and any alleged excess of power or ambiguity should have been raised during arbitration or via Section 57. The complaints amount to challenges to the tribunal's reasoning, not its powers, and are barred by Sections 70(2) and 73. No substantial injustice was caused.

Court Disposition

application dismissed

Orders

  • Application under Section 68 Arbitration Act 1996 dismissed.
  • Costs to follow the event; parties may make submissions on basis or extent of any order.