Exam (elaborations)
Re-sit exam of April 2021 with answers
- Course
- Institution
- Book
Re-sit exam of April 2021 with answers
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
iky_soad
Reviews received
Content preview
ICDR Re-sit exam April 20211
A chemistry production plant in Ireland experiences a huge fire. The chemistry production plant
seeks compensation for the damage from its insurance company residing in Germany. However,
the insurance company is unwilling to indemnify damages suffered by the production plant, as
allegedly the production plant ignored safety protocols during the production process.
Further communications and negotiations are unsuccessful and both parties agree to submit their
conflict to ad hoc arbitration in England. The insurance company is however dissatisfied in
respect of procedural errors (time spans, documents provided for after delays) and even decides
to resign from the arbitration proceedings unilaterally. The proceedings nevertheless are
continued and an arbitral award orders the insurance company to compensate all damages
suffered by the chemistry production plant.
The insurance company however takes action in a local court in the arbitration seat (England).
This court, while positively honouring the insurance company’s complaints, indeed vacates the
award.
(a) Explain how you would characterize the nature of the award in this case. (2 pts)
(b) The chemistry production plant, left with empty hands, still demands indemnification of
damages by the insurance company. Has arbitration become impossible now the award has been
vacated by a court? (4 pts)
(c) Given that the award is vacated by an English local court, explain whether this means that the
award cannot have any legal force anywhere in the world. (4 pts)
2
For approximately 16 years, Company X, residing in Austria, has been distributing dairy
products provided for by Company Y, residing in Hungary, in Austria without a framework
contract or exclusivity agreement.
On 12 February 2021, Company Y informed Company X that, from 1 May 2021, its products
will forthwith be distributed in Austria by another Austrian company. Company X is determined
to sue Company Y in court for breaching the minimum notice period of at least one year.
(a) Explain in which state may Company X start court proceedings. (4 pts)
(b) Suppose that the contract would provide for the following: ‘all obligations arising from the
contract shall be performed in Hungary’. Explain whether and how this would change the
outcome under question (a). (3 pts)
(c) Explain which law applies to the conflict (breach of notice period) (3 pts)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller iky_soad. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.21. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now