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The Tax Publishers Arbitration--Anti-Suit Injunctions in International Arbitration Judicial Perspectives on Anti-Suit Injunctions in Foreign-Seated Arbitrations : Lessons from UK Courts CS. Raksha Sankhlecha This article examines the evolving role of anti-suit injunctions in international arbitration, highlighting the UK Supreme Court's pro-arbitration approach and its implications for global jurisprudence, including Indian legal perspectives. 1. Introduction On 18-9-2024, the UK Supreme Court (UKSC) delivered a decisive ruling on an anti-suit injunction (ASI) in a Paris-seated ICC arbitration. The case exemplifies how ASIs serve to uphold arbitration agreements, rather than hinder them. 2. Background of the Case The dispute arose between RusChemAlliance (RCA), a Russian-incorporated entity, and UniCredit, a German bank with assets in Russia. In 2021, UniCredit issued bonds worth EUR 420 million to RCA for a gas processing plant project undertaken with a third-party contractor. While the bond agreement stipulated that English law would govern all contractual and non-contractual obligations, arbitration proceedings were designated to the ICC with a Paris seat. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Arbitration--Anti-Suit Injunctions in International Arbitration

Judicial Perspectives on Anti-Suit Injunctions in Foreign-Seated Arbitrations : Lessons from UK Courts

CS. Raksha Sankhlecha

This article examines the evolving role of anti-suit injunctions in international arbitration, highlighting the UK Supreme Court's pro-arbitration approach and its implications for global jurisprudence, including Indian legal perspectives.

1. Introduction

On 18-9-2024, the UK Supreme Court (UKSC) delivered a decisive ruling on an anti-suit injunction (ASI) in a Paris-seated ICC arbitration. The case exemplifies how ASIs serve to uphold arbitration agreements, rather than hinder them.

2. Background of the Case

The dispute arose between RusChemAlliance (RCA), a Russian-incorporated entity, and UniCredit, a German bank with assets in Russia. In 2021, UniCredit issued bonds worth EUR 420 million to RCA for a gas processing plant project undertaken with a third-party contractor. While the bond agreement stipulated that English law would govern all contractual and non-contractual obligations, arbitration proceedings were designated to the ICC with a Paris seat.