Weekly Roundup (23 Jan 2024)
Here’s what you need to know for the week of 23 January 2023.
Arbitration
Global Arbitration Review reports that one of the main ICC arbitrations involving the Manono lithium project in the Democratic Republic of Congo is nearing an end (23 January 2023). This is just one of several disputes to watch concerning the project:
The Manono project has given rise to at least two other arbitrations. Last month AVZ Minerals lodged a pair of ICC claims concerning its purported acquisition of a 15% stake in Dathcom Mining, another joint venture vehicle formed to exploit Manono.
Meanwhile an affiliate of Chinese multinational Zijin Mining has brought its own ICC claim against AVZ, arguing it acquired the 15% interest in Dathcom from Cominière for US$33.4 million last year.
The number of disputes out of the DRC and in the technology supply chain appears on the rise and international firms will no doubt watch with keen interest.
One Essex Court reviews a recent Commercial Court decision on the difference between an “award” and an “order” for purposes of enforcement under the Arbitration Act 1996 of a Tribunal’s order for specific performance:
C contended that the relevant orders were not an award within the meaning of the 1996 Act. Section 58 of the 1996 Act provides that an award is “final and binding”, and the Claimant contended that the orders were not final, because the Tribunal retained the power to vary, and in fact had varied, them. This was significant for enforcement purposes. On a domestic plane, there is a different enforcement mechanism for enforcement of orders (which is by way of enforcement by the court under section 42 of the 1996 Act but only if the order is a peremptory one), and of awards (which can be enforced under section 66 of the 1996 Act). On the international plane, the New York Convention applies only to awards, not orders.
English Law
Debevoise & Plimpton reviews the recent High Court decision granting anti-suit injunctions against EU Member State proceedings:
Under EU law, the courts of one Member State are prohibited from issuing anti-suit injunctions (“ASIs”) to restrain parties to proceedings in another Member State Court. Following the United Kingdom’s departure from the EU, the High Court has once again granted ASIs to restrain parties who have commenced proceedings in the courts of EU Member States in breach of an exclusive jurisdiction clause.
Tech+AI
A new organisation—the UK Forum for Digital Currencies (UK FDC)—has been announced by key stakeholders looking to guide UK innovation in fintech and digital currencies. Its members include the City of London Corporation, Digital Pound Foundation, The Payments Association, TheCityUK and UK Finance.
One of the most exciting items under discussion: a Central Bank Digital Currency.
#Cryptocurrency DLA Paper published a review of the current English law position on cryptoassets:
On the question of the nature of cryptoassets, the Law Commission acknowledges that the current law recognizes two types of property asset, that which has a physical nature and is often characterized by possession and that which exists by virtue of legal rights characterized as a chose in action. The paper recognizes that digital assets are something different to these. This makes legal principles difficult to apply, because by their nature; they are not tangible items, and they are not only enforceable by legal action, but carry their own personal property rights.
Legal Innovation
The ARM revolution has come to end the desktop workstation and it is now possible to achieve desktop-class performance and all-day battery life in a portable form factor. Work can truly happen anywhere, without compromise. The Verge reviews Apple’s updated MacBook Pro’s with Apple Silicon (i.e. ARM-based processors):
Anyway, what do the numbers show? I’m going to come right out and say that the most impactful difference between the M1 Max and the M2 Max is the efficiency. For my particular workload (which includes office work in 20-ish Chrome tabs at a time with occasional streaming overtop through Apple Music, Apple TV, and the like) that translates to several additional hours of work that I can get to one charge. I usually got just around 10 hours out of the MacBook Pro 16 with M1 Max; I’m averaging close to 14 out of the M2 Max model and have seen over 18 hours from some trials. Everyone’s workload is different, but I’m confident most people will see additional hours of battery life from the 2023 MacBook Pro. (I expect to see an even longer lifespan from the M2 Pro machine based on the M1 Pro’s impressive results.)
Notable Decisions
London Disputes published a deep-dive into the English law concept of issue preclusion and its relationship to arbitration following the High Court’s decision in PJSC National Bank Trust v Mints, [2022] EWHC 871 (Comm).
In BPY v MXV [2023] EWHC 82 (Comm), the High Court clarified the limits on a party’s obligation under Browne v Dunn to cross-examine a witness in the context of a Section 68 challenge to an award under the Arbitration Act 1996.
