Mss Xsabo Power Limited & 4 Others v Great Lakes Energy Company NV (Arbitration Cause 75 of 2023)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court allowed recognition and enforcement of the Final Arbitral Award rendered by the London Court of International Arbitration. The Court held that the Tribunal properly exercised jurisdiction over non-arbitrable issues inextricably interwoven with arbitrable ones, that computational omissions did not constitute failures of due process or equal treatment, and that the award of interest pegged to USD 3-month LIBOR remained enforceable despite the transition to synthetic LIBOR. The objections to enforcement on public policy grounds were dismissed.
Outcome
Final Arbitral Award of the London Court of International Arbitration recognised and enforceable as a judgment of the High Court of Uganda; interim protective measures lapsed
Facts
The parties entered into investment and shareholders' agreements for a solar power project in Uganda. The respondent became a shareholder and lender in the project. A dispute arose when the applicants accused the respondent of inflating engineering and construction costs by approximately US$6 million. The applicants rescinded the investment agreement and revoked the respondent's share allotment. The respondent commenced arbitral proceedings at the London Court of International Arbitration. The LCIA Tribunal issued two partial awards and a final award. The first partial award found the respondent liable for secret commission. The final award, delivered on 11 September 2023, ordered the applicants to pay the respondent US$1,188,730 as damages plus interest at US$ 3-month LIBOR plus 8%, legal costs of GBP 1,194,599.83 and USD 165,860.98, and arbitration costs of GBP 208,930.36. The respondent sought recognition and enforcement of the final award in Uganda. The applicants objected on grounds that the award dealt with matters outside the arbitration agreement, violated public policy, and was unenforceable due to the obsolescence of LIBOR.
Issues
- Whether the Final Arbitral Award dealt with issues falling outside the scope of the submission to arbitration, specifically regarding availability of funds under Clause 6.3 of the Shareholders' Agreement.
- Whether the Final Arbitral Award is in conflict with the law and public policy of Uganda.
- Whether the Tribunal's failure to expressly determine the rate, period and quantification of interest on secret commission amounts to a failure to treat parties with equality and/or discrimination.
- Whether the Tribunal's failure to expressly quantify interest on secret commission amounts to a failure of due process.
- Whether enforcement of the award would result in expropriation of time value of money without compensation, unjust enrichment, or abuse of contractual and legal rights.
- Whether the award of interest at US$ 3-month LIBOR plus 8% renders the award uncertain, ambiguous and unenforceable, given the discontinuation of representative LIBOR rates on 30 June 2023.
- Whether recognition and enforcement of the Final Arbitral Award should be granted.
- Whether interim measures of protection previously granted should be extended.
Orders
- Arbitration Cause No. 0014 of 2024 dismissed with costs to the respondent.
- Arbitration Cause No. 0075 of 2023 allowed with costs to Great Lakes Energy Company NV.
- Leave granted to Great Lakes Energy Company NV to enforce the Final Arbitral Award in the same manner as a judgment or order of the High Court.
- Costs of the applications to be recovered as part of the costs of execution of the award.
- Interim measures of protection previously granted lapsed upon delivery of the ruling.
- Application for extension of interim protective measures dismissed as premature.
Rules and key headnotes
Legislation cited (24)
- Arbitration and Conciliation Act s.6
- Arbitration and Conciliation Act s.9
- Arbitration and Conciliation Act s.18
- Arbitration and Conciliation Act s.31(4)
- Arbitration and Conciliation Act s.31(6)
- Arbitration and Conciliation Act s.33
- Arbitration and Conciliation Act s.34(1)
- Arbitration and Conciliation Act s.34(2)(b)(ii)
- Arbitration and Conciliation Act s.35
- Arbitration and Conciliation Act s.42
- Arbitration and Conciliation Act s.43
- Judicature Act s.33
- Civil Procedure Act s.98
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article III
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article IV
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article V(1)
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article V(1)(b)
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article V(2)(a)
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article V(2)(b)
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 Article 27
- Arbitration Rules r.7
- Arbitration Rules r.13
- LCIA Rules 2020 Article 25(1)
- LCIA Rules Article 27.1
Cases cited (30)
- Premium Nafta Products Ltd v Fili Shipping Co Ltd [2008] 1 Lloyd's Rep 619
- Fiona Trust & Holding Corp v Privalov [2007] UKHL 40
- Walter Llewellyn & Sons Ltd v Excel Brickwork Ltd [2010] EWHC 3415 (TCC)
- Barrier Ltd v Redhall Marine Ltd [2016] EWHC 381 (QB)
- Sea Trade Maritime Corp v Hellenic Mutual War Risks Association (Bermuda) Ltd [2006] EWHC 2530 (Comm)
- Sea Trade Maritime Corp v Hellenic Mutual War Risk Association (Bermuda) Ltd (The Athena) (No 2) [2007] 1 Lloyd's Rep 280
- Cohen v. Ark Asset Holdings, 268 A.D.2d 285, 286 (1st Dept. 2000)
- Lake Harbor Advisors, LLC v. Settlement Servs. Arbitration and Mediation, Inc., 175 A.D.3d 479 (2d Dept. 2019)
- Monotube Pile Corp. v. Pile Foundation Constr. Corp., 269 A.D.2d 531 (2d Dept. 2000)
- Protostorm, Inc. v. Foley & Lardner LLP, 193 AD3d 486 (1st Dept 2021)
- CIZ v CJA [2021] SGHC 178
- TMM Division Maritama SA de CV v Pacific Richfield Marine Pte Ltd [2013] 4 SLR 972
- Regazzoni v Sethia [1958] AC 301
- Christ for All Nationals v Apollo Insurance Co Ltd [2002] 2 EA 366
- Sinocore International Co Ltd v RBRG Trading (UK) Ltd [2018] 2 Lloyd's Rep 133
- Parsons and Whittemore Overseas Co., Inc. v. Société générale de l'industrie du papier (RAKTA). 508 F. 2d 969 (2d Cir. 1974)
- Gol Linhas Aereas SA v Matlin Patterson Global Opportunities Partners (Cayman) [2022] UKPC 21
- Saahib Enterprises Ltd v Olam Uganda Ltd (High Court Civil Suit No. 180 of 2009)
- Ducat Maritime Ltd v Lavender Shipmanagement Inc [2022] EWHC 766 (Comm)
- Franek Jan Sodzawiczny v Simon John Mcnally [2021] EWHC 3384 (Comm)
- Moran v Lloyd's [1983] QB 542
- Xstrata Coal Queensland P Ltd v Benxi Iron & Steel (Group) International Economic & Trading Co Ltd [2020] EWHC 324 (Comm)
- Alegrow SA v Yayla Argo Gida San ve Nak AS [2020] EWHC 1845 (Comm)
- MRI Trading AG v Erdenet Mining Corporation LLC [2013] 1 Lloyd's Rep 638
- Richardson v. Mellish, 130 Eng. Rep. 294, 303 (Ex. 1824)
- Janson v Driefontein Consolidated Mines [1902] AC 484
- Fender v St John-Mildmay [1938] AC 1
- Libyan American Oil Company (LIAMCO) v. Socialist People's Libyan Arab Republic Jamahirya, (formerly Libyan Arab Republic), (1981) 20 ILM 1
- Egerton v Earl of Brownlow (1853) 10 ER 359
- Cooke v Turner (1845) 60 Eng Rep 449
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.