1-Sep-15
START DATE
END DATE
3-Sep-19
CAT.SA v. PRIOSMA LIMITED
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
CIVIL JURISDICTION
Hon. Chief Justice Hargun
Mr Mark Chudleigh and Mr Lewis Preston
Mr Jan Woloniecki and Mr Nathaniel Turner
FACTS OF THE CASE:
The dispute centers around the enforcement of an arbitration award issued in Paris concerning a brokerage agreement with an arbitration clause between CAT a member of the Covea Group and Priosma a Bermudian reinsurance broker. Priosma challenged the award arguing there was no valid arbitration agreement between the parties. The Supreme Court of Bermuda under Chief Justice Hargun ruled against setting aside the arbitration award's enforcement emphasizing the importance of the New York Convention and the pro-enforcement policy while allowing for a conditional stay of enforcement pending an appeal in France provided Priosma secures a satisfactory security amount
SUMMARY:
CAT.SA
OUTCOMES:
RULED IN FAVOUR OF:
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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CAT.SA v. PRIOSMA LIMITED
The dispute centers around the enforcement of an arbitration award issued in Paris concerning a brokerage agreement with an arbitration clause between CAT a member of the Covea Group and Priosma a Bermudian reinsurance broker. Priosma challenged the award arguing there was no valid arbitration agreement between the parties. The Supreme Court of Bermuda under Chief Justice Hargun ruled against setting aside the arbitration award's enforcement emphasizing the importance of the New York Convention and the pro-enforcement policy while allowing for a conditional stay of enforcement pending an appeal in France provided Priosma secures a satisfactory security amount