The construction of an undertaking given in an anti-suit injunction (Quadra Commodities v International Bank of St Petersburg)

This case concerned the construction of an undertaking given by the claimants in the context of an anti-suit injunction. The claims and counterclaims were pursued thereafter in arbitration proceedings in London, and an issue subsequently arose between the parties as to the interpretation of the undertaking previously given. That issue was whether the effect of the proviso to the undertaking was such that the defendants were restricted in the arguments it could present to the arbitral tribunal or, whether the tribunal’s approach to the arguments, was circumscribed by the proviso. In this instance, given the rationale behind the undertaking, even had concessions not been made, the judge would not have construed the undertaking as either fettering the arguments to be heard, or the approach to be taken by the tribunal.

This article was first published by Lexis®PSL on 12 April 2021

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