Profilati Italia S R L v Painewebber Incorporated, Painewebber International Futures Limited: ComC 12 Sep 2001

CS Arbitration – Award – Application to set aside award on the grounds of serious irregularity – Arbitration Act 1996 s. 68(2)(g) – whether inadvertent failure to disclose relevant documents resulted in award being procured in a way contrary to public policy – whether respondents suffered substantial injustice. Arbitration – Disclosure – Arbitration under Rules of the London Metal Exchange – duty of respondent to give disclosure – whether respondent failed to disclose relevant documents
The Applicant challenged an arbitration award made under the rules of the London Metal Exchange. They claimed that they had incurred losses through the wrongful closure of its credit line and by closing out the business between them. They claimed the award would not have been made had the defendants made full disclosure of documents which later came to light. They claimed this to be in breach of public policy rather than by fraud. This applied for the most serious of cases where justice called out for a remedy. In this case disclosure may not have included these documents, and they may not have had the substantial effect claimed. The application failed.


Moore-Bick J


[2001] 1 All ER 1065


Arbitration Act 1996 68(2)(g)


England and Wales

Arbitration, Financial Services

Updated: 11 May 2022; Ref: scu.166138