11 Mar 2004
AMALTAL CORPORATION LIMITED V MARUHA (NZ) CORPORATION LIMITED CA CA11/03
- Citation
- openlaw-735c31e0_71e8_4a37_a304_8c239d72c38a.pdf
- Court
- Court of Appeal
The rule against penalty clauses is an equitable remedy against oppression and does not amount to the "public policy of New Zealand" within Article 34(2)(b)(ii); accordingly the High Court had no basis under Article 34 to set aside the award on that ground and must respect the arbitrator's finding that the clauses were not penal; appeal dismissed.