AFRICA FINANCE CORPORATION AND OTHERS V AITEO EASTERN E & P CO LTD

[2022] EWHC 768 (Comm), Queen’s Bench Division, Commercial Court, Sir Nigel Teare, sitting as a High Court Judge, 1 April 2022

Arbitration – Breach of arbitration clause – Foreign judicial proceedings – Anti-suit injunction – Effect of delay – Non-disclosure

By an offshore facility agreement and an onshore facility agreement the defendant borrowed some US$2 billion from the claimant banks. Both facility agreements contained arbitration clauses providing for ICC arbitration with London as the seat.