CFI Holdings & Anor v Commercial Arbitration Centre & Ors (HC 9157 of 2014) [2015] ZWHHC 365 (25 March 2015)

CFI Holdings & Anor v Commercial Arbitration Centre & Ors (HC 9157 of 2014) [2015] ZWHHC 365 (25 March 2015)

There is no arbitrable dispute between the parties as the MOU adequately addressed the valuation process, and the applicants' dissatisfaction with the valuation does not constitute a dispute for arbitration. The applicants also failed to comply with the notice requirements of the arbitration clause.

Citation
[2015] ZWHHC 365
Parties
Applicant: CFI Holdings Ltd; Applicant: Langford Estates (1962) (Pvt) Ltd; Respondent: Commercial Arbitration Centre; Respondent: FBC Bank Limited; Respondent: Agribank of Zimbabwe Limited; Respondent: CBZ Bank Limited; Respondent: Infrastructure Development Bank of Zimbabwe Limited; Respondent: NMB Bank Limited; Respondent: Standard Chartered Bank Limited
Court
Harare High Court
Jurisdiction
Zimbabwe
Judgment Date
25 March 2015
Case Number
HC 9157 of 2014
Procedural Posture
Opposed Application / Judgment on Application to Compel Appointment of Arbitrator
Outcome
Application dismissed with costs
Legal Topics
Appointment of Arbitrator, Arbitrability of Dispute, Interpretation of Memorandum of Understanding
Source Language
English
Arbitration Contract Law Appointment of Arbitrator Arbitrability of Dispute Interpretation of Memorandum of Understanding

Case Brief

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Parties

CFI Holdings Ltd

Applicant

Langford Estates (1962) (Pvt) Ltd

Applicant

Commercial Arbitration Centre

Respondent

FBC Bank Limited

Respondent

Agribank of Zimbabwe Limited

Respondent

CBZ Bank Limited

Respondent

Infrastructure Development Bank of Zimbabwe Limited

Respondent

NMB Bank Limited

Respondent

Standard Chartered Bank Limited

Respondent

Procedural Posture

Opposed Application / Judgment on Application to Compel Appointment of Arbitrator

Legal Issues

  1. 1 Whether there is an arbitrable dispute under the MOU warranting appointment of an arbitrator
  2. 2 Whether the applicants complied with the arbitration clause in the MOU
  3. 3 Whether the disagreement over valuation constitutes a dispute for arbitration

Ratio Decidendi

There is no arbitrable dispute between the parties as the MOU adequately addressed the valuation process, and the applicants' dissatisfaction with the valuation does not constitute a dispute for arbitration. The applicants also failed to comply with the notice requirements of the arbitration clause.

Court Disposition

Application dismissed with costs