Arbitration analysis: The Commercial Court has dismissed proceedings brought by Tumpuan Megah Development (TMD) against OW Bunker Far East (OWB) and ING Bank (ING), finding that the claim was precluded by findings in a previous LMAA arbitral award between the parties. In doing so, the court emphatically confirmed that, so long as an arbitral award remains unchallenged, it will have preclusive effect on later proceedings that seek to set up a factual case inconsistent with its conclusions. It did not matter that there were foreign proceedings underway in relation to that award or that there may yet have been a challenge to the award’s validity in a subsequent action for recognition or enforcement. The decision is a helpful guide to the circumstances in which the findings in an arbitral award can be re-opened in later litigation by the unsuccessful party, and what that party can do to avoid the preclusive effect of an...
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