DCC 36/2020 issued on 12/7/2020
The initial dispute involved a challenge to an arbitration award which had been issue in arbitration proceedings involving payments on two life insurance policies. Issues included the expiry of the arbitration agreement, authorisation of the lawyer, the fact the tribunal had not met in person, and the qualification of one of the tribunal who had a bounced cheque ruling issued against him. Also considered was the failure to respond to defences.
Background
An insurance company filed an appeal seeking the annulment of an arbitration award which had been issued in a non-institutional arbitral proceedings and had ordered them to pay the heirs of a deceased person USD 4,000,000 plus interest of 9% from the date of the death in 2012 as a result of two life insurance policies.
The Insurer argued the award should be set aside because the arbitration agreement had expired following the resignation of the arbitral tribunal which had been appointed by the court to rule on the dispute, and that the Insurer's lawyer's signature on new terms of reference of the second tribunal was not valid because this lawyer was not authorized to enter into arbitration agreements following the expiry of the arbitral agreement.