No valid arbitration commenced as respondent company ceased to exist; AA 1996, s 67 challenge succeeds (Chung v Silver Dry Bulk Co)

Article summary

Arbitration analysis: Mrs Justice Moulder, sitting in the Commercial Court, upheld a challenge to an arbitral award made pursuant to section 67 of the Arbitration Act 1996 (AA 1996) for lack of substantive jurisdiction. The claimant trustee sought a declaration from the court that an ad hoc London arbitration concerning the sale of a ship had either not been validly commenced or the notice of arbitration had been incapable of commencing a valid arbitration as the respondent in the purported arbitration, a special purpose vehicle which had been the owner and seller of the ‘Homer Hulbert’, had ceased to exist at that time (ie the company had been dissolved).