SOCIEDAD IBERICA DE MOLTURACION S.A. v. NIDERA HANDELSCOMPAGNIE B.V.

[1990] 2 Lloyd's Rep. 240

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Gatehouse

Arbitration - Award - Remission - Technical misconduct - Sellers invoked bankruptcy clause in sale contract - Price Settlement Committee based closing-out price on incorrect date - Umpire found in favour of buyers - Board of Appeal applied for reconvening of PSC to fix price on basis of correct date - Parties not given opportunity to comment on new price - Whether award should be remitted on ground of technical misconduct.