AB INTERNATIONAL (HK) HOLDINGS PLC AND ANOTHER V AB CLEARING CORPORATION LTD AND OTHERS

[2015] EWHC 2196 (Comm), Queen's Bench Division, Commercial Court, Mr Justice Phillips, 29 July 2015

Arbitration - Interim relief - Application to court - Whether relief urgent - Arbitration Act 1996, section 44(3)

CD and GH were indirect owners of ABI, a joint venture. An agreement provided that if either CD or GH had a claim against the other, it could be brought in the name of ABI. In 2014 GH commenced proceedings in his own name and that of ABI, alleging fraud, breach of contract and breach of fiduciary duty, although it was dismissed by consent and an addendum was entered into setting out a mediation and arbitration process, although it did not extend to trading profit disputes. However, disputes arose shortly afterwards in both the courts and in arbitration. GH applied to the court for interim relief under section 44(3) of the Arbitration Act 1996, seeking: the provision of full access to the trading platform software used by CD; payment by CD of US$10.44 million for unauthorised transfers; reinstatement by CD of a US$3 million revolving credit facility; compliance by CD with the original agreement whereby CD was not to accept customers who primarily resided in or traded from China; and the provision of information and documents as to profits made by CD and associated companies. By the time of the hearing only the disclosure application was live.