Peepul Capital Fund II LLC and another (Appellants) v Vsoft Holdings LLC (Respondent) (Mauritius)

Peepul Capital Fund II LLC and another (Appellants) v Vsoft Holdings LLC (Respondent) (Mauritius)

VSoft, through its counsel, objectively abandoned its defence to liability under the Shareholders Agreement except as to quantum; the arbitrator's intervention did not prevent VSoft from presenting its case; there was no breach of natural justice or public policy; the freezing injunction should continue but the anti-suit injunction was inappropriate and must be discharged.

Citation
[2019] UKPC 47
Parties
Appellant/respondent: Peepul Capital Fund II LLC; Appellant/respondent: Millenium Strategic Group Limited; Respondent/appellant: VSoft Holdings LLC
Jurisdiction
United Kingdom
Judgment Date
19 December 2019
Procedural Posture
Arbitration Appeal / Privy Council Appeal From Supreme Court of Mauritius
Outcome
Appeal dismissed; cross-appeal allowed in part
Legal Topics
Setting Aside Arbitral Awards, Natural Justice in Arbitration, Freezing Injunctions, Anti Suit Injunctions, Public Policy in Arbitration
Arbitration Contract Law Company Law Setting Aside Arbitral Awards Natural Justice in Arbitration Freezing Injunctions Anti Suit Injunctions Public Policy in Arbitration

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Parties

Peepul Capital Fund II LLC

Appellant/respondent

Millenium Strategic Group Limited

Appellant/respondent

VSoft Holdings LLC

Respondent/appellant

Procedural Posture

Arbitration Appeal / Privy Council Appeal From Supreme Court of Mauritius

Legal Issues

  1. 1 Whether the arbitral award should be set aside for breach of natural justice under section 39(2)(b)(iv) of the MIAA
  2. 2 Whether the arbitrator's intervention prevented VSoft from presenting its case
  3. 3 Whether the award conflicted with public policy under section 39(2)(b)(ii) of the MIAA

Ratio Decidendi

VSoft, through its counsel, objectively abandoned its defence to liability under the Shareholders Agreement except as to quantum; the arbitrator's intervention did not prevent VSoft from presenting its case; there was no breach of natural justice or public policy; the freezing injunction should continue but the anti-suit injunction was inappropriate and must be discharged.

Court Disposition

Appeal dismissed; cross-appeal allowed in part

Orders

  • Appeal against refusal to set aside the award dismissed
  • Freezing injunction to continue pending enforcement of the award