Changes

Having obtained, in November 2008, an arbitration award in its favour, West Tankers was concerned that the insurers might in future obtain an Italian judgment which was inconsistent with that award. The insurers could then seek to have that judgment recognised and enforced in England, pursuant to Chapter III of EC Regulation 44/2001 (relating to the jurisdiction and recognition and enforcement of judgments in civil and commercial matters between EU member states) (the “Regulation”). Those concerns prompted West Tanker’s application to have the award enforced as a judgment, the thinking being that once the award had been converted into a judgment, any subsequent Italian judgment in favour of the insurers would not be recognised in England pursuant to Article 34(3) of the Regulation. Article 34(3) of the Regulation provides that:

West Tanker’s application was successful and, by an order dated 15 November 2010 (the “Order”), it was given leave to enforce the arbitration award pursuant to section 66(1) of the Act and judgment was entered against the insurers pursuant to section 66(2) of the Act in the terms of the award.