Nori Holdings v PJSC Bank and the tale of anti-suit Injunctions

Abstract

Abstract This article analyses the issues arising out of the recent High Court judgment of Males J in Nori Holdings Limited et al v PJSC Bank Okritie Financial Corporation [2018] EWHC 1343 (Comm). Traditionally, English Courts and practitioners have been steadily opposed to the ECJ driven prohibition of anti-suit injunctions under the Brussels I Regulation regime. The crack to this prohibition created by Advocate General Wathelet in Gazprom was accepted gloriously across the channel. Males J in his judgment, however, critically addressed this opinion and seems to side with the ECJ’s interpretation even under the Brussels I Recast Regulation. This article considers Nori Holdings in the wider context of the remedies available to a court or tribunal when faced with torpedo or parallel proceedings. Finally, it considers how the situation might change and why this case could be important in a post-Brexit world.