V and Another v K [2025] EWHC 1523 (Comm) - King's Bench Division, Commercial Court (Mr Justice Calver) - 19 June 2025

Arbitration - Serious irregularity - Potential bias - Disclosure of relationship with solicitors - LMAA Advice on Ethics - Arbitration Act 1996, sections 33 and 68

On 14 February 2023 K commenced an LMAA arbitration with its seat in London. K had agreed to sell a vessel to V or their guaranteed nominee, N, for the sum of US$13,100,000 under a memorandum of agreement (MOA) dated 14 July 2022. K claimed that it was entitled to terminate the MOA because, on 29 September 2022, after V had nominated N for the purpose of accepting and taking delivery of title to the vessel, the US Office of Foreign Assets Control had imposed sanctions on V.