Ambiguity over the governing law of arbitration agreements continues to spark debate. In July, meanwhile, the government reintroduced the Arbitration Bill, which would have altered the outcome in September of the Supreme Court case, UniCredit. In this week’s NLJ, Valya Georgieva, senior associate, Penningtons Manches Cooper, and Ravi Aswani, barrister, 36 Group, examine the court’s reasoning and consider how the outcome might have differed if the Arbitration Bill, currently before Parliament, had been in force.
Georgieva and Aswani write that, while some have lauded the decision, ‘Equally, there are those who say that this approach verges on being extraterritorial overreach against the backdrop of parties freely contracting to arbitrate in a seat whose supervisory courts do not grant anti-suit type relief’.
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