FG Hemisphere and Dem Rep Congo [2009] JRC 244B (15 December 2009)

FG Hemisphere and Dem Rep Congo [2009] JRC 244B (15 December 2009)

The injunctions would frustrate completion of the SPA and would not create a debt upon which the Representor could distrain; maintenance of the injunctions constitutes unwarranted interference in the commercial activities of innocent third parties and is inequitable.

Citation
[2009] JRC 244B
Parties
Applicant: Representor; First Party Cited: Kibali Gold Mine Jersey Incorporated Company; Second Party Cited: Randgold Resources Ltd; Second Respondent: Okimo
Jurisdiction
Jersey
Judgment Date
15 December 2009
Procedural Posture
Injunction Application / Post Ex Parte Discharge Hearing
Outcome
Injunctions discharged; application for stay and leave to appeal refused.
Legal Topics
Enforcement of Arbitration Awards, Share Purchase Agreements, Injunctions Affecting Commercial Transactions, Disclosure Orders
Commercial Law International Arbitration Injunctions Enforcement of Arbitration Awards Share Purchase Agreements Injunctions Affecting Commercial Transactions Disclosure Orders

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Parties

Representor

Applicant

Kibali Gold Mine Jersey Incorporated Company

First Party Cited

Randgold Resources Ltd

Second Party Cited

Okimo

Second Respondent

Procedural Posture

Injunction Application / Post Ex Parte Discharge Hearing

Legal Issues

  1. 1 Whether the injunctions should be maintained against innocent third parties
  2. 2 Whether the SPA creates a debt upon which the Representor can distrain
  3. 3 Whether payment to the Viscount constitutes compliance under Congolese law

Ratio Decidendi

The injunctions would frustrate completion of the SPA and would not create a debt upon which the Representor could distrain; maintenance of the injunctions constitutes unwarranted interference in the commercial activities of innocent third parties and is inequitable.

Court Disposition

Injunctions discharged; application for stay and leave to appeal refused.

Orders

  • Discharge of injunctions imposed ex parte on 11th December 2009.
  • Refusal of leave to appeal and stay.