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Stockholm Arbitration Report (SAR)

Preview Page SAR 2002 - 1

Subject matters:
(1) Arbitration clause in an applicant form for the subscription of shares.
(2) Scope of the arbitration agreement.
(3) Waiver under section 9(3) of the English Arbitration Act 1996.
(4) Stay of court action under section 9(4) of the English Arbitration Act 1996.

Findings:
(1) The content of the application form, including the arbitration clause, was construed as an offer which had contractual effect when the offer was accepted by allotment of shares to the applicant.
(2) The arbitration clause was considered wide enough to include claims of fraudulent misrepresentation.
(3) An act by a party was not considered as a step in the proceedings in the meaning of section 9(3) of the English Arbitration Act 1996 when the party had specifically stated that it intended to seek a stay under section (9)4 of the 1996 Act.
(4) The action before the court was stayed under section 9(4) of the 1996 Act.

Parties:
Claimant: Capital Trust Investments Ltd (England)
Respondent: Radio Design TJ AB (Sweden) and others

Place of Court Proceedings: London, England

Applicable law: The English Arbitration Act of 1996a