Crescendo Maritime Co v Bank of Communications Company Ltd [2015] EWHC 3364 (Comm)

In his judgment of 25 November 2015, Teare J showed the Commercial Court’s willingness to use anti-suit injunctions to restrain foreign proceedings brought by a party to an arbitration agreement. This was tempered, however, by his refusal to maintain an anti-suit injunction to restrain proceedings brought by a non-party to the arbitration agreement but which the applicant said would undermine the effect of the arbitration award.

The case was triggered by the decision of a London arbitral tribunal deciding rights of parties to a guarantee to join the security assignee of that guarantee to proceedings.   This prompted one party to the original arbitration to bring proceedings against both other parties in China.  The existence of such security assignments is commonplace; the joinder of such assignees to arbitrations is less common. Continue reading