BSG Resources Ltd v Vale SA & Ors

BSG Resources Ltd v Vale SA & Ors

Vale failed to establish risk of dissipation or diminution of assets; security for award refused. Security for costs granted at US$510,000 as reasonable and proportionate. Set aside application refused; no stay of enforcement granted. Amendment of claim form permitted. Condition of payment of outstanding costs order not imposed due to administration and pari passu principle.

Parties
Claimant: BSG Resources Limited; Defendant: Vale S. A.; Defendant: Filip De Ly; Defendant: David A. R. Williams; Defendant: Michael Hwang
Jurisdiction
England and Wales
Judgment Date
20 September 2019
Procedural Posture
Commercial Court Arbitration Related Proceedings / Ruling on Interlocutory Applications Prior to Substantive Hearing
Outcome
Applications determined: security for award refused; security for costs granted at US$510,000; set aside application refused; amendment application granted; application to impose costs payment condition refused.
Legal Topics
Security for Award, Security for Costs, Set Aside Enforcement Order, Amendment of Claim, Costs Orders, Apparent Bias, Administration
Arbitration Commercial Law Insolvency Security for Award Security for Costs Set Aside Enforcement Order Amendment of Claim Costs Orders +2 more

Case Brief

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Parties

BSG Resources Limited

Claimant

Vale S. A.

Defendant

Filip De Ly

Defendant

David A. R. Williams

Defendant

Michael Hwang

Defendant

Procedural Posture

Commercial Court Arbitration Related Proceedings / Ruling on Interlocutory Applications Prior to Substantive Hearing

Legal Issues

  1. 1 Whether security for the arbitration award should be ordered under Section 70 Arbitration Act 1996
  2. 2 Quantum of security for costs under Section 70(6) Arbitration Act 1996
  3. 3 Whether to set aside enforcement order under Section 66 Arbitration Act 1996

Ratio Decidendi

Vale failed to establish risk of dissipation or diminution of assets; security for award refused. Security for costs granted at US$510,000 as reasonable and proportionate. Set aside application refused; no stay of enforcement granted. Amendment of claim form permitted. Condition of payment of outstanding costs order not imposed due to administration and pari passu principle.

Court Disposition

Applications determined: security for award refused; security for costs granted at US$510,000; set aside application refused; amendment application granted; application to impose costs payment condition refused.

Orders

  • Application for security for award dismissed.
  • Security for costs ordered in sum of US$510,000.