November 14 2016
START DATE
END DATE
December 23 2016
IRONSHORE INSURANCE LTD. & STARR INSURANCE AND REINSURANCE LIMITED & IRON-STARR EXCESS AGENCY LTD. v. MF GLOBAL ASSIGNED ASSETS LLP & MF GLOBAL HOLDINGS LTD
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
CIVIL JURISDICTION (COMMERCIAL COURT)
IAN RC KAWALEY CJ
Alex Potts Sedgwick Chudleigh Ltd
Henry Tucker Harneys (Bermuda) Limited
FACTS OF THE CASE:
The case involved anti-suit injunctions to prevent the defendants from prosecuting proceedings in the United States in breach of a valid and binding arbitration agreement under reinsurance policies. The plaintiffs sought to enforce their right to have disputes referred to arbitration with prior ex parte injunctions granted to restrain the defendants temporarily.
SUMMARY:
The defendants commenced litigation in a US court despite arbitration agreements governed by Bermudian law challenging the Bermuda court's jurisdiction and seeking to circumvent their arbitration obligations.
OUTCOMES:
Permanent anti-suit injunctive relief granted in favor of the plaintiffs enforcing arbitration agreements and restraining defendants from prosecuting foreign proceedings in breach of those agreements
RULED IN FAVOUR OF:
Plaintiff/Claimant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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IRONSHORE INSURANCE LTD. & STARR INSURANCE AND REINSURANCE LIMITED & IRON-STARR EXCESS AGENCY LTD. v. MF GLOBAL ASSIGNED ASSETS LLP & MF GLOBAL HOLDINGS LTD
The case involved anti-suit injunctions to prevent the defendants from prosecuting proceedings in the United States in breach of a valid and binding arbitration agreement under reinsurance policies. The plaintiffs sought to enforce their right to have disputes referred to arbitration with prior ex parte injunctions granted to restrain the defendants temporarily.