by Patric McGonigal King & Wood Mallesons Cross-border Dispute Resolution | Tokyo
High Court Upholds Challenge
Court of Appeal Disagrees
Allianz Insurance v Tonicstar Ltd
So far as the CA was concerned, the High Court decisions in both cases were plainly wrong and ought not to be upheld.
In concluding and although not relevant to the contract in question, the CA also noted that clause 15 was in any event revised as of 1 January 2018 and the new clause 27.4 of the JELC terms now states:
“The Arbitrators shall be persons (including those who have retired) with not less than 10 years’ of experience of insurance or reinsurance within the industry or as lawyers or other professional advisors serving the industry.” (emphasis added)