Canada / 05 August 2008 / Canada, Court of Appeal of Alberta / Yugraneft Corporation v. Rexx Management Corporation
| Country | Canada |
| Court | Canada, Court of Appeal of Alberta |
| Date | 05 August 2008 |
| Parties | Yugraneft Corporation v. Rexx Management Corporation |
| Source |
2008 ABCA 274 | online: CanLII |
| Languages | English |
| Summary | The Yugraneft Corporation (“Yugraneft”) and Rexx Management (“Rexx”) concluded a supply agreement containing an arbitration clause providing for the resolution of all disputes by a panel of three arbitrators in Moscow under the rules of the Russian International Commercial Arbitration Court (“ICAC”). A dispute arose between the parties. Yugraneft obtained a favourable award and brought an application for enforcement in Alberta. Rexx sought dismissal of the application on the grounds that the application was time-barred as it had not been brought within the two-year limitation under Section 3(1)(a) of the Alberta Limitations Act (the “Limitations Act”), and that enforcing the award would be contrary to public policy in Alberta as the arbitral tribunal had refused to hear and deliberate on one of Rexx’s key arguments regarding the illegal takeover of Yugraneft. The Alberta Court of Queen’s Bench refused to enforce the arbitral award on the ground that the application was time-barred under the Limitations Act. Rexx appealed. The Alberta Court of Appeal dismissed the appeal and affirmed the decision of the Alberta Court of Queen’s Bench, finding that the application for enforcement was time-barred under the Limitations Act. As such, the Court considered it unnecessary to consider Rexx’s argument that enforcement of the award would be contrary to public policy in Alberta. |
| affirmed by : |
Attachment (1)
 Original Language Adobe Acrobat PDF |
