Sweden: (1) Open Joint Stock Company "Yukos Oil Company" (Moscow, Russian Federation) v. Petro Alliance Services Company Ltd (Houston, Texas,USA) - International Arbitration Court Decisions - 3rd Edition
Carita C. H. Wallgren-Lindholm
PDF from "International Arbitration Court Decisions - 3rd Edition"
JUDGMENTS BY THE STOCKHOLM DISTRICT COURT RENDERED IN 2003 IN (1) CASE T 7898-00 AND (2) CASE T 3697-01
Introduction In the following, two separate decisions by the Stockholm District Court are presented, concerning the parties’ ability to dispose of the validity of an arbitral award and whether in setting aside proceedings before a court, the court can set aside an arbitral award by default judgment without hearing the case on the merits.
The decisions are commented jointly in observations by Carita Wallgren-Lindholm of Lindholm Wallgren, Helsinki, and Gisela Knuts of Roschier, Stockholm. Sigvard Jarvin General Editor
(1) JUDGMENT BY THE STOCKHOLM DISTRICT COURT, RENDERED IN 25 APRIL 2003, IN CASE T 7898-00
Subject matter: Whether parties can dispose of the validity of the arbitral award.
Finding: A settlement agreement between the parties in which an arbitral award was agreed to be invalid was confirmed by the District Court in the form of a confirmed judgment.
Parties: Claimant: Open Joint Stock Company “Yukos Oil Company” (Moscow, Russian Federation) Respondent: Petro Alliance Services Company Ltd (Houston, Texas, USA)
Place of court proceedings: Sweden
Applicable law: The Swedish Arbitration Act of 1929
Table of Contents:
(DISTRICT COURT) Judgments by The Stockholm District Court rendered in 2003 in (1) Case T 7898-00 And (2) Case T 3697-01, Introduction (1) Open Joint Stock Company "Yukos Oil Company" (Moscow, Russian Federation) v. Petro Alliance Services Company Ltd (Houston, Texas, USA), Judgment by the Stockholm District Court rendered on 25 April 2003, In Case T 7898-00
SUBJECT-MATTER: Whether parties can dispose of the validity of the arbitral award. (2) MÍR Müteahhitlik ve Ticaret A.S. (Ankara, Turkey) v. The Commercial Bank MOST-Bank (Moscow, Russia), Default Judgment by the Stockholm District Court rendered on 12 October 2003, in Case T 3697-01
SUBJECT-MATTER: Setting aside of an arbitral award for alleged procedural irregularity and excess of arbitral authority according to the 1929 Swedish Arbitration Act through default judgment.
Observations by Carita Wallgren-Lindhom and Gisela Knuts